October 3, 2013
Thursday's Edition
DTMCU national virtual rally
GTE Financial in Tampa gets into the rally spirit.

CUNA's Don't Tax My Credit Union virtual rally, Wednesday from Credit Union House in Washington, D.C., drew more than 10,000 online viewers and thousands of tweets and emails. The rally was meant to once again mobilize the credit union movement to educate lawmakers on the impact the credit union tax exemption has on members. 

CUNA is working on totaling up the amount of tweets and Facebook posts that came as a result of the virtual rally. More than 1,800 email messages were sent to lawmakers in support of the tax exemption. Even though the government is experiencing a shut down, tax reform remains a top priority in Washington. Earlier this week the bankers sent a letter to Congress asking that the credit union tax exemption be included in a tax reform bill. Credit unions are urged to continue to send their lawmakers a message to Don't Tax My Credit Union.

Check the LSCU Facebook and LSCU Action Center Facebook for more pictures. You can also search Twitter by using these hashtags: #curally and #DontTaxMyCU. 

The LSCU & Affiliates Birmingham office got in the rally spirit by watching the online festivities and tweeting.

The Tallahassee office watched the rally, made signs, tweeted and sent two vine videos to lawmakers.

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Credit unions step up during shutdown

Many credit unions are stepping up during the partial government shutdown, offering affected members a variety of services including special rates, salary equivalent loans, skip-a-payment programs, financial counseling, and more to ensure members survive any furloughs with their finances intact. 

CUNA has gathered many examples of how credit unions from across the country are helping members in need.

Special shutdown services often include:

  • Special/emergency loans: Extra low rates for affected members including temporary zero interest loans and payment deferral

  • Payroll replacement/advance assistance: Temporary loans that replace a furloughed employee’s salary

  • Skip-a-payment programs: Skip a regular consumer loan payment at no charge

  • Penalty-free share certificate withdrawal: Take money from a share certificate to help now without the associated fee

  • Financial counseling/loan workouts: Meet with a loan officer to determine if a loan workout program can be created to help ease financial hardship

If your credit union is offering any special services to members affected by the shutdown, let the League know. These are also good media opportunities as reporters have been noticing that credit unions are helping more than banks. 

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October is Cyber Security Awareness Month

As October is Cyber Security Awareness Month, NCUA Board Chairman Debbie Matz reminds credit unions about the importance of fighting cybercrime and protecting online the personal and financial information of their members.

“Credit unions should make cyber security an important part of their financial literacy efforts in October and all year long,” said Matz. “NCUA has a number of resources available on our consumer website, MyCreditUnion.gov, and our financial literacy microsite, Pocket Cents, to help credit unions begin these conversations with their members.”

Throughout October, NCUA will highlight ways credit union members can protect their personal and financial information on its consumer Twitter feed, @MyCUgov, as well as in the upcoming October issue of the NCUA Report. The agency will also regularly post tips and best practices on NCUA’s Facebook and Twitter pages that credit unions can use to make their electronic information systems and online engagements more secure.

Cybercrime is a growing concern for financial institutions and consumers alike. The Federal Bureau of Investigations’ Internet Crime Complaint Center received 289,874 consumer complaints of internet fraud and other cybercrimes in 2012. These crimes resulted in an estimated adjusted dollar loss of approximately $525 million.

For more information on Cyber Security Awareness Month, visit www.staysafeonline.org.

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President's video message

LSCU President/CEO Patrick La Pine looks at the developments on tax reform in this third quarter President's Message. He also looks at Hike the Hill, a meeting with the NCUA, the Cooperative Issues Campaign, and looks ahead to the Leadership Development Conference and big happenings with LEVERAGE. 

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La Pine and Cheney on tour

Click for a video message from CUNA CEO Bill Cheney on his trip to Alabama.

Credit unions from Mobile to Montgomery to Birmingham to Huntsville will have a chance to meet with CUNA President/CEO Bill Cheney this month. Cheney and LSCU & Affiliates President/CEO Patrick La Pine will hold a series of meetings across the state from Oct. 22-25.

Credit unions are encouraged to attend the meetings to ask questions and to learn more about the pressing issues facing credit unions from a national perspective. This is the perfect opportunity to provide feedback to Cheney on the job CUNA is doing and how credit unions are working together on the issues. 

Here are the meetings:

  • Oct. 22 - NE &Shoals Chapter
  • Oct. 22 - Birmingham Chapter Legislative Night
  • Oct. 23 - Tuscaloosa Chapter
  • Oct. 23 - Montgomery Chapter
  • Oct. 24 - Mobile Chapter
  • Oct. 25 - NW Florida Chapter

If you would like to attend one of the meetings, contact LSCU VP, Cooperative Initiatives Laura Vann at 866.231.0545 ext. 2181.

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In This Issue
Thursday's Edition
DTMCU national virtual rally
Credit unions step up during shutdown
October is Cyber Security Awareness Month
President's video message
La Pine and Cheney on tour
LSCU & Affiliates Media

La Pine and Cheney to Visit Alabama Credit Unions

In late October, LSCU & Affiliates CEO Patrick La Pine and CUNA CEO Bill Cheney will make a number of visits across Alabama to listen to credit unions and talk about issues.


Audio Podcast
Alabama Telco CU VP of Marketing Stanton Davis talks to the LSCU about how his credit union has been implementing the Don't Tax My Credit Union program.

Upcoming League Events
Oct. 9 Strategic Plan Years
Oct. 9 What to Keep/What to Destroy/What Holds Up in Court
Oct. 15 IRA Essentials & Beyond Essentials
Oct. 16 IRA Essentials & Beyond Essentials
Oct. 16 BSA Training Muscle Shoals AM
Oct. 16 BSA Training Muscle Shoals PM
Oct. 16 Compliance Risks/Best Practices
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