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.