January 2, 2014
Thursday Edition
CUNA to collect information from CUs on Target breach

In the Target breach aftermath, credit unions whose members' accounts were compromised are being urged by CUNA to collect data about the costs they incur in replacing cards and assisting members. CUNA will have a website up soon to assist in the efforts to track the costs imposed by the breach.

By tracking these activities, CUNA and the state leagues will have a resource to tap into when speaking with lawmakers and regulators about data breach changes. With the CUNA GAC coming in February, it is important that Alabama and Florida credit unions have real member examples of the Target data breach to share with lawmakers. 

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ACUA State GAC hotel cutoff Jan. 10

The deadline for the League’s hotel block is Friday, Jan. 10 for the ACUA State GAC. Reserve your room now to ensure your spot at this critical event. Find registration and hotel information here.

The conference is Feb. 4-5, 2014 at the Renaissance Montgomery Hotel & Spa in Montgomery, AL.

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CUNA Mutual Group sets 2014 CU Protection Webinars

CUNA Mutual Group has announced its 2014 Credit Union Protection Webinars. The 11 webinars, exclusively for fidelity bond policyholders, are conducted by CUNA Mutual Group risk management specialists and address top risks facing credit unions and how to mitigate losses.

Webinars are one hour long, beginning at 10 a.m. CST, and conclude with a live Q&A session.

For registration information, click here to go to the Credit Union Protection Resource Centers. Participants must be logged in to view and register for webinars. For those without log-in credentials click on “Register for a User ID” in the My Services section of cunamutual.com.

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CUs help with New Year's financial resolutions

A record number of consumers--54 percent of Americans surveyed by Fidelity Instruments--are considering making a financial New Year's resolution for 2014. Some consumers are tying their resolutions to what they have learned from credit unions.

For example, Cal Mathis of Brooklyn, N.Y., plans to boost his savings, eliminate card debt, and open an Individual Retirement Account to save for retirement--three takeaways from a financial literacy seminar he attended that was offered by McGraw-Hill FCU's Manhattan branch, he told the New York Daily News (Dec. 30). After attending the credit union's seminar, the father of three decided to set the goals and commit himself to those goals.

Fidelity's survey, for the third consecutive year, found that the top three New Year's financial resolutions include saving more (54 percent), paying off debt (24 percent), and spending less (19 percent). Debt resolution increased threefold since 2010, when only eight percent survey respondents planned to pay off debt (Forbes Dec. 30).

Click here to read the full story from CUNA News Now. 

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In This Issue
Thursday Edition
CUNA to collect information from CUs on Target breach
ACUA State GAC hotel cutoff Jan. 10
CUNA Mutual Group sets 2014 CU Protection Webinars
CUs help with New Year's financial resolutions
LSCU & Affiliates Media


President's Quarterly Report
LSCU & Affiliates President/CEO Patrick La Pine looks at the League's activities for the fourth quarter which includes an office move in Tallahassee, a new LEVERAGE hire and an update on tax reform.

Upcoming League Events
Jan. 8 Managing E-Sign/Statements/Disclosures
Jan. 9 Dormant Accounts/Unclaimed Property
Jan. 14 Real Estate Collections/CFPB Servicing
Jan. 15 IRA & HSA Review - DOMA Implications
Jan. 16 Fee Income 2014 Challenges-Issues
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