February 4, 2014
Tuesday Edition
Five Florida CU professionals become Certified CU Development Educators

A record 47 credit union professionals became Credit Union Development Educators (CUDEs) last week, including five CU professionals from Florida.

The five Florida class graduates included:

  • Ashley Bigg, VyStar CU
  • Lisa Brown, Tallahassee-Leon FCU
  • Robert Carter, VyStar CU
  • Sheri Eaton, Suncoast CU
  • Darlene Johnson, Suncoast CU

Participants were guided by eight dedicated program facilitators and mentors through the intensive Credit Union Development Education (DE) Training from the National Credit Union Foundation (NCUF).

DE Training provides critical lessons in cooperative principles and credit union philosophy while incorporating challenges credit unions face today. During the recent week-long program, participants were involved in group exercises, field trips, issue discussions with speakers from around the credit union system, and are required to complete team projects proposing solutions for credit unions to help alleviate or eliminate challenging situations in any given area. For the class’ final case studies, participants worked through and presented solutions to critical issues that included credit union regulations, board development and recruiting including the debate over compensation, credit union solutions to payday lending, microfinance to women in the Philippines, credit union taxation, and a small credit union merger dilemma.

Registration is still open for the next two 2014 DE trainings, which will be held April 23-30, 2014 and September 10-17, 2014 at the Lowell Center in Madison, Wis.

Registration and more information can be found on the NCUF website by clicking here.

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Washington wire

Merchant Data Breach
A month to the day after CUNA and the League called for Congressional hearings on the Target data breach, the first hearings on the matter will take place. In fact, there will be hearings not only in the Banking Committee this week, but also the Senate Judiciary Committee and the House Energy and Commerce Committee.

  • Senate Banking Committee: The Banking Committee’s hearing will be held by its National Security and International Trade and Finance Subcommittee and will be entitled "Safeguarding Consumers' Financial Data." This hearing, which begins at 3:00 p.m. Monday, will feature two panels of witnesses.

  • Senate Judiciary Committee: The Senate Judiciary Committee’s hearing will be at 10:15 a.m. on Tuesday, and it is titled, “Privacy in the Digital Age: Preventing Data Breaches and Combating Cybercrime”.  

  • House Energy and Commerce Committee: The Energy and Commerce Committee’s meeting will be held on Wednesday at 9:30 a.m. in the Commerce, Manufacturing and Trade Subcommittee, and is titled, “Protecting Consumer Data: Can Data Breaches Be Prevented?”
    CUNA and the League will be submitting two statements for each of these hearings. CUNA and the League will join with several other financial services groups on a joint statement to show unity among industry participants for a legislative remedy. In addition, CUNA and the League will submit a statement that focuses on the particular impact the breaches have had on credit unions, citing CUNA's survey data, and reiterating the need for and scope of a legislative remedy. All of these statements will be available on CUNA's Letters to Congress page after they have been transmitted to the Committee.

  • Future Hearings: Thursday’s Senate Banking Committee hearing with federal banking regulators will have a focus on merchant data breach, and the Committee is considering holding a full committee hearing on this matter on Feb. 10. The House Financial Services Committee has not announced any hearings on the merchant data breaches at this time.

To read this week's full Legislative Update including an update on force-placed insurance, the latest materials for CUNA's GAC, and more, click here.

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InfoSight spotlight: Record Retention

The purpose of record retention requirements and a record retention program is to provide a comprehensive and cost-effective way to promote effective member service by providing credit unions access to important member information.

The beginning of the year is a good time to make sure that all staff members are knowledgeable about the guidelines and laws that apply to record retention. The Record Retention channel of InfoSight is an excellent resource for all staff members at your credit union. This channel provides the guidelines you need to remain in compliance. For instance, in the Additional Resources area of the channel, you will find the following information:

  •     Catastrophic Act Preparedness Guidelines
  •     CUNA E-Guide: Federal Rules of Civil Procedure
  •     CUNA E-Guide: Record Retention
  •     Record Retention Checklist
  •     Record Retention Detailed Analysis
  •     Record Retention FAQs
  •     Record Retention Guidance

This channel also provides links to the laws and regulations that govern record retention. Finally, the Record Retention channel gives links to model documentation and policies.
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NCUA OSCUI grants are now available through Feb. 14

NCUA's Grant and Loan Program, established by Congress, makes grants and loans to low-income designated credit unions. The Community Development Revolving Loan Fund for Credit Unions (the “CDRLF”) was established by an act of Congress to stimulate economic development in low-income communities. The grants and loans program consists of Congressional appropriations that are administered by the Office of Small Credit Union Initiatives (OSCUI).

The 2014 grant round runs from 8:00 a.m. Feb. 3 until 5:00 p.m. Feb. 14. For more information or click here.

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CUs encouraged to apply for NCUF Biz Kid$ Financial Education Grants

The number one goal of the Biz Kid$ financial literacy initiative is to teach kids from upper elementary through high school to understand and incorporate the skills they need to successfully manage their financial lives. The goal of NCUF’s Biz Kid$ Financial Education Grants is to extend the reach of the series beyond broadcast into the community. 

Biz Kid$ Financial Education Grants may be used to fund innovative programs that improve the financial education of youth through the use of the Biz Kid$ program. Projects may engage teachers, students, education leaders, local PBS stations, or community stakeholders through events, activities, and/or curriculum distribution. Each project should create innovative and engaging activities incorporating Biz Kid$ materials. The overall grant objective is to engage the credit union movement in using Biz Kid$ and its curriculum to build students financial literacy and economic education skills while increasing awareness and usage of Biz Kid$. Funds may not be used as a cash donation to a third party.

Eligible applicants include credit unions, CUSOs, state credit union associations, state credit union foundations, and any other organizations owned or controlled by credit unions.

Questions about Biz Kid$ or the grant process can be directed to Danielle Brown at 608.556.2406. To apply click here.

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In This Issue
Tuesday Edition
Five Florida CU professionals become Certified CU Development Educators
Washington wire
InfoSight spotlight: Record Retention
NCUA OSCUI grants are now available through Feb. 14
CUs encouraged to apply for NCUF Biz Kid$ Financial Education Grants
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 Event Deadlines
Feb 10 Last day to receive “early bird” rate for FCUA State GAC – Tallahassee, FL
Feb 11 Last day to receive “early bird” rate for Security & Robbery Training – Tallahassee, FL
Feb 18 Last day to receive “early bird” rate for IRA Essentials & Advanced Training – Birmingham, AL
Upcoming League Events
Feb. 5 Tax Refunds: ACH Postings, Exception & Liability
Feb. 6 Build Better Board Improve CU Board
Feb. 7 CFPB Exam - International Transfers
Feb. 11 BSA Essentials, Jacksonville, FL
Feb. 11 BSA Advanced, Jacksonville, FL
Feb. 12 Docs to Keep-Destroy-Hold Up in Court
Feb. 13 Security & Robbery Training, AL
Feb. 13 CFPB Mortgage Rules Lending
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