October 14, 2013
Monday Edition
President's point

Two weeks ago the LSCU, LEVERAGE, and the Southeastern Credit Union Foundation (SECUF) boards all held their planning retreats and board meetings in Orlando. The board meetings were condensed so we could focus as much time as possible on planning. It’s hard to believe that this was the fifth planning retreat I’ve participated in for the LSCU & Affiliates.

Beginning this month, the LSCU Governance Committee will begin a comprehensive review of the League’s bylaws. All of the LSCU bylaws will be reviewed. For comparison purposes, management has been collecting the bylaws from peer leagues, as well as leagues that have gone through consolidations. On specific issues, like membership classes or board composition, we may bring in an outside consultant to provide additional expertise. The full board will be kept apprised throughout the process. The goal is not necessarily to have the review completed in time to take any changes to the membership in June at the AC&E, but instead to have a comprehensive review that modernizes our current bylaws and allows for future expansion and growth.

The LSCU board planning retreat focused heavily on advocacy and ways to get more of our credit unions, staff, and directors involved. We need more victories; we understand that. However, we need greater grassroots participation in both states to achieve success. In the last few months we’ve had three representatives either leave their position (Rep. Bonner-AL) or announce retirements (Reps. Bachus-AL and Young-FL) at the end of 2014. This means three new U.S. representatives. We need a strong grassroots network to begin building relationships with candidates, as well as existing lawmakers.

On the LEVERAGE side, we’re expanding our footprint and will announce new growth through acquisitions in the coming months. We had John Lass, senior vice president of strategy and business development for CUNA Mutual Group, facilitate the LEVERAGE retreat. He showed us how our service corporation stacks up against other LSCs around the country. But, he also challenged us to see where we wanted LEVERAGE’s value proposition. Should our focus be: product innovation, operational efficiency, or member centric? We can only master one but need to compete and play in all three. 

Finally, the SECUF brought in three speakers, Lois Kitch from the National Credit Union Foundation (NCUF), Courtney Moran, the executive director of the Cornerstone Credit Union League Foundation, and Eric Barrett, a foundation consultant who’s worked with the SECUF during consolidation. Each gave food for thought on where we want our foundation to be in the next few years. Lois painted the picture how the NCUF and the SECUF work together. The Cornerstone Foundation is one of the best among state leagues. Courtney presented excellent ideas on how to grow the foundation. Our team will take this information, along with board feedback, and present a good strategic vision for 2014 and beyond.

The retreat is always greatly beneficial. I appreciate that all three boards give of their time to serve and to set the strategic vision of the LSCU & Affiliates. They are engaged and bring your concerns up during the meetings. We have a strong League, service corporation, and foundation that is only getting stronger every year. 

Where’s Patrick: After several weeks on the road, I will spend this week in Tallahassee playing catch up. We have a League InfoSight board meeting on Wednesday, our LEVERAGE monthly meeting on Thursday, and ComplySight Task Force meeting on Friday. To see my schedule for the next two weeks, click here.

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Report - credit union market share rises

Callahan and Associates released a new study that shows the credit union market share is rising. As of June, 2013, the credit union market share is now 9.93 percent. Thirty states saw their market share of credit union deposits also rise.

Alabama and Florida were not on the list of the 10 highest states with credit union deposit growth. However, Alabama, according to the study, has 15 percent of the deposit market share in the state, which puts it in the top quartile for states. Florida's market share is at 8.5 percent placing it in the third of four quartiles.

Looking at the southeast, Florida is consistent with its neighbors, while Alabama's market share is the highest in the south and second highest east of the Mississippi. Analyze the entire country by visiting creditunions.com. 

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International Credit Union Day is this week - how will you celebrate?

International Credit Union Day is this Thursday, Oct. 17. This year's theme, "Credit Unions Unite for Good: A Better Way," emphasizes the benefits of cooperation among credit unions worldwide.

The ultimate goal of ICU Day is to raise awareness about the great work that credit unions are doing around the world and give members the opportunity to get more involved. Credit unions and associations throughout the world celebrate the day with open houses, contests, picnics, parades, and more. 

Is your credit union doing anything special to celebrate? If so, be sure to share your ICU Day festivities with the League via Facebook and Twitter. 

Interested in participating but need last minute ideas? Click here.

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Getting graphic

More consumers digest their information in small bites. Within the past year, infographics have become popular methods to convey large pieces of data.

Though up to this point Alabama and Florida have been very lucky and have not seen much severe weather, the coast is still in the midst of the 2013 Atlantic hurricane season. Weather Underground presents the infographic "Hurricane Formation" in the North Atlantic. This graphic describes all the various factors that have to come together in order to generate a hurricane in the Atlantic Ocean.  

Click here to view the entire "Hurricane Formation" infographic.

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In This Issue
Monday Edition
President's point
Report - credit union market share rises
International Credit Union Day is this week - how will you celebrate?
Getting graphic
LSCU & Affiliates Media

CUDE Training - Register for 2014

Credit unions discuss what CUDE training has meant to them. LSCU & Affiliates President/CEO Patrick La Pine is one of the featured interviews. Visit the NCUF's website to register for 2014 training. 

President's Quarterly Video

LSCU & Affiliates President/CEO Patrick La Pine discusses third quarter happenings at the League and looks ahead to the fourth quarter. 

Upcoming League Events
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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