December 16, 2013
Monday Edition
President's point

This past week we held our final LSCU & Affiliates board meetings for the year. These are important meetings because it finalizes our budget and strategic plans for the next year. I’ll share with you some of the highlights, which includes a special guest.

On the League side, we spent some time on our advocacy plan for next year. The 2013 lawmakers of the year were approved and we’ll be announcing them soon. Our 2014 Legislative and Regulatory agendas were approved. We appreciate the credit unions that gave us comments on the agenda. The League budget was approved. We are projecting a 10-percent increase in revenue next year. Most of that is from increased affiliation that we experienced in late 2013.

The priorities for the League will continue to be focused on its four core competencies: advocacy, communications, education, and cooperative initiatives. You will see more education and training in 2014, as well as a re-branding of some signature events. The League is also exploring more collaboration outside of our Alabama and Florida footprint. This is a must in today’s credit union industry. Preserving the credit union tax exemption is always a main priority, as is being proactive in our four core competencies.

For LEVERAGE, 2013 was a good year and we see it only getting better in 2014. The budget was approved and we’re projecting positive growth in revenue, once again. We have exciting plans in our audit and compliance consulting area for next year and you will see more information early in 2014 on this front. We have also beefed up our business strategy area and we have a couple of products we will begin piloting soon. Our process of bringing these products to market will improve and only get better. I’m excited where we’re headed with LEVERAGE.  

During the Southeastern Credit Union Foundation (SECUF) meeting, the board approved an updated strategic plan. That plan includes improving our revenue for SECUF charity golf events at the AC&E and LDC. The more money we can raise at events like the AC&E and Leadership Development Conference golf outings, the more scholarships, disaster relief, and financial education offerings the SECUF will be able to offer credit unions. The SECUF will also work with chapters and credit unions for more CU4Kids fundraising and to work on more community projects.

Finally, NCUA Region III Director Herb Yolles stopped by the board meetings this week in Birmingham and talked to our combined LSCU & LEVERAGE boards for about an hour. He reiterated the priorities for the NCUA for 2014. He also said the agency is looking closer at third-party audits and that leagues that offer audits were the NCUA’s preference. Thursday night we held a small retirement party for Herb at the Shoal Creek Country Club. About 25 credit union officials and system partners attended. It was a nice way to send Herb off into retirement. We look forward to a similar relationship with his successor Myra Toeppe.  

Where’s Patrick: This I will spend most of my time settling into the new office space in Tallahassee. I will also meet with Filene and interview for a new multi-client lobbyist in Tallahassee. On Thursday we have our quarterly FYI and holiday luncheon. To see my schedule for the next two weeks visit the LSCU Information for Credit Unions webpage. 

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Budget compromise encouraging for credit unions

The compromise on the federal budget agreed to last week gives some encouragement to credit union issues in the near future. First, the budget agreement will run for two years – meaning Congress will not be distracted by shutdowns over that period and be more likely to advance legislation. Legislation that could benefit credit unions. Legislation such as CUNA-backed relief from patent trolls privacy act modifications and providing credit unions parity with the FDIC with respect to the insurance coverage of lawyer trust accounts and other similar accounts. Second, the budget agreement has no impact on the credit union tax exemption. Although the compromise does include provisions raising revenue, most of that will come from new fees, reductions in pension payments, and other areas.

There is no doubt that there were several factors in credit unions' favor for this outcome, including: frequent contact with the offices of the chief negotiators on the budget deal, Sen. Patty Murray (D-WA) and Rep. Paul Ryan (R-WI), and the nearly 1.3 million contacts with lawmakers generated by credit unions and their supporters as part of the “Don’t Tax My Credit Union” campaign. To be clear, however, credit unions are not out of the woods yet. While CUs are in a very strong position, a long-term resolution to the country’s fiscal issues is still needed – and tax reform will likely be a key part of that debate in the coming months.

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We moved!

The LSCU & Affiliates Tallahassee office has moved to the new Credit Union Center located on west side of Tallahassee.

If you mail items to our Tallahassee office, be sure to update your records with our new address.

Starting today items should be mail to:

3692 Coolidge Ct.
Tallahassee, FL 32311

Though our physical address is changing the rest of our contact information including our employees’ individual contact information will remain the same. You will still be able to reach us at the same phone numbers and email addresses you did prior to the move.

Additionally, you can continue to count on LSCU & Affiliates for the same products and services you have relied on in the past.

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Getting graphic

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Click here to view Seven Surefire Tips to Overcome Presentation Anxiety. 

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In This Issue
Monday Edition
President's point
Budget compromise encouraging for credit unions
We moved!
Getting graphic
LSCU & Affiliates Media

LSCU & Affiliates YouTube Page
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The Disclosures
"Thank My Piggy Bank"

Upcoming League Events
Dec. 17 Reg E vs ACH Rules
Dec. 18 Questions Board Members Need to Ask
Jan. 8 Managing E-Sign/Statements/Disclosures
Jan. 9 Dormant Accounts/Unclaimed Property
Jan. 14 Real Estate Collections/CFPB Servicing
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