November 1, 2013
Friday Edition
Sen. Baucus brings tax message to Senate floor

The comprehensive tax reform message was heard this week on the U.S. Senate floor when Senate Finance Committee Chairman Max Baucus (D-MT) spoke. He reiterated again that the tax reform issue was not going away saying "it's time for us to reform our tax code."

He also said he is ready to work with the budget conference on the issue, however he would not wait for them.

"I’m confident they (budget conference) can craft a compromise to help get America back on track. I look forward to working with Chairman Murray and Chairman Ryan on the tax and entitlement components of their discussions," said Baucus.

The feeling is that the House and Senate will work on a "parallel track" to keep tax reform moving forward.The budget conference and its 29 conferees will not meet again until Nov. 13. This is just one month before recommendations are due to Congress. 

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Watt confirmation fails

The Senate confirmation of Rep. Mel Watt (D-NC) as the director of the Federal Housing Finance Agency failed to reach the needed 60 votes. The vote was 56 to 42 to advance.

In a statement to the White House, CUNA stated that "Rep. Mel Watt is a very astute and thoughtful legislator who throughout his career has listened to the concerns of credit unions as he analyzed and voted on legislation." CUNA also wrote that it looked forward to working with Rep. Watt, if he were confirmed.

Rep. Watt was nominated for the position in May. The director of the Federal Housing and Finance Agency oversees mortgage lenders Fannie Mae and Freddie Mac. Senate Majority Leader Harry Reid says that he will try again in the near future to get Watt confirmed.

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Tweet(s) of the week

Each week the League highlights some of the conversations going on in the twitterverse. This week, two are highlighted that show the good works of credit unions and how they are letting consumers know. 

CFE FCU, based in Lake Mary, tweets out a story that looks at how credit unions are helping furloughed government employees. This is a great way to push out great credit union news from across the country.

Montana Credit Union Association tweets one of its Unite for Good stories. Credit unions are encouraged to post their stories on the Unite for Good website.

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CU happenings

eCO Credit Union employees and major contributors celebrate a successful Change for Children’s campaign. With the help of members, schools, and sponsors, eCO Credit Union raised more than $34,000 for Children’s of Alabama, bringing the combined fundraising total for the last four years to more than $113,000.

JetStream Federal Credit Union was one of the table sponsors for the Doral Business Council’s first ever Economic Forecast Luncheon. The event hosted by the DBC’s Financial Services committee, chaired by Mara Falero, vice president of marketing for JetStream Federal, was held at the beautiful Intercontinental Hotel in Doral. 

The Tampa Kids Classic golf outing raised $312,000 for the Autism wing at All Children's Hospital. The Tampa area credit unions committed $1.5 million over five years toward the wing. Nearly all of the Tampa credit unions were represented including the League and various vendors.


LEVERAGE and CUNA Mutual Group were a
Gold Sponsor for the Tampa Chapter golf
outing. It included a hole sponsorship.

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In This Issue
Friday Edition
Sen. Baucus brings tax message to Senate floor
Watt confirmation fails
Tweet(s) of the week
CU happenings
LSCU & Affiliates Media
CUNA Inside Exchange with NCUA Chairman Debbie Matz

The most recent edition of CUNA Inside Exchange features the first of a two-part series with NCUA Chairman Debbie Matz, She speaks openly about the issues facing credit unions. 

NCUA October Economic Report

Each month the NCUA Chief Economist John D. Worth provides an economic update for credit unions. The video covers a variety of topics including the effects the government shutdown had on credit unions. 

Upcoming League Events
Nov. 5-8 Leadership Development Conference
Nov. 5 Civil Money Penalties/Examiners Findings
Nov. 6 Call Reports-What to Look For & Why
Nov. 7 POAs, Businesses, Trusts & More
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