September 13, 2013
Friday Edition
NCUA board makes fixed assets rule change

The NCUA board held its first meeting where all three board members were present. Richard Metsger, just confirmed within the last month, attended his first meeting as a board member. Among the actions taken on Thursday, the board finalized an amendment to clarify and simplify the fixed assets ownership rule. 

The rule does not make substantive changes to the regulation or impose new requirements for fixed assets by federal credit unions.

“The latest product of my Regulatory Modernization Initiative is the final rule on fixed assets, which Board Member (Mike) Fryzel suggested we streamline ,” said NCUA Chairman Debbie Matz. “Through the changes approved today, credit unions should find the regulation easier to follow.”

The approved NCUA fixed assets rule allows federal credit unions to purchase, hold and dispose of property necessary or incidental to their operations. These fixed assets include office buildings, branch facilities, furniture, computer hardware and software, ATMs, and parking lots.

Those that receive a waiver from the five-percent fixed assets limit will have the ability to make multiple purchases of fixed assets within a one percent buffer above their approved waiver limit. This change is intended to eliminate the need for a federal credit union to make repeated waiver requests for minor acquisitions.

The final fixed assets rule, available online, will be effective 60 days from the date of publication in the Federal Reserve. Visit the NCUA's website to read a full report from the board meeting.

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State Representative Demetrius Newton passes away

Rep. Demetrius Newton (D-Birmingham) passed away on Wednesday at the age of 85. He was first elected to the Alabama House of Representatives in 1986 and later elected as the first African-American Speaker Pro Tem, the second highest leadership position in the House.

Outside of the legislature, Newton was a civil rights lawyer who had represented protestors arrested during the Birmingham protests of 1963. Newton also took on cases related to the Selma-to-Montgomery march, which later paved the way for the Voting Rights Act.

Speaker of the House Mike Hubbard said “His 27 years of service to the Alabama Legislature and his incredible impact on the civil rights movement will forever be a powerful part of the Alabama history."

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CU happenings
VyStar ribbon cutting for in-shool branch

VyStar Credit Union celebrates the ribbon cutting ceremony of its newest branch, located inside Orange Park High School. Twelve student interns trained all summer and are now fully capable of operating the student run branch. In addition to keeping the credit union up and running the student interns will help educate fellow students on financial literacy, job training, and how to run a business. 

Currently there are two locations at high schools in each of the following counties: St. Johns County, Duval County, and now Clay County.

For local press coverage of the event visit the League's Press Room.

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2013 Chapter Championship Golf Tournament

The Central Florida Chapter of Credit Unions is holding its 2013 Chapter Championship Golf Tournament, Friday, Sept. 20, at the Timacuan Golf & Country Club in Lake Mary, Fla. Mark your calendars for a day of fun, networking, and even some golf! Proceeds will benefit the Credit Union Political Action Council (CUPAC), Children’s Miracle Network, and other local charities. In 2012 more than $20,000 was raised through the tournament in support of these excellent causes. Make plans now to play!

Visit the Central Florida Chapter's golf tournament website to register a foursome.

Two sponsorship opportunities are still available. Email for more information!

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Tweet(s) of the week

Each Friday eSignal Daily will highlight some of the credit union conversations going on in social media. This week was a huge week on Twitter. The Don't Tax Tuesday was heavily focused on tweets from credit unions and their members. Below are a few of the better tweets from the day. 

The Daily Caller is a national conservative website.

Members First Credit Union of Pensacola. 

Best Advantage CU of Brillion and Sherwood, WI.  

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In This Issue
Friday Edition
NCUA board makes fixed assets rule change
State Representative Demetrius Newton passes away
CU happenings
VyStar ribbon cutting for in-shool branch
2013 Chapter Championship Golf Tournament
Tweet(s) of the week
LSCU & Affiliates Media

CEOs talk tax reform
Alabama and Florida credit unions talk about the "real" threat behind tax reform and what all credit unions should be doing before a bill is introduced.


LDC preview:
Jan Hargrave on body language
Body language expert Jan Hargrave will provide the Closing General Session keynote address at the Leadership Development Conference, Nov 6-8 in Point Clear, AL

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Upcoming League Events
Sept. 17  Directors & Financial Literacy Session 2: Monitoring & Measuring the 9 Risks Your Credit Union Faces
Sept. 18  Mandatory Compliance Series: Compliance Rules Deposit Operations Must Know
Sept. 19  Skip Tracing Tools & Techniques
Sept. 24  Facebook Strategies for CUs
Sept. 25  Conducting the 2013 ACH Audit
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