February 14, 2014
Friday Edition
JPMorgan Chase settlement reduces chance of future corporate assessments

The net remaining Stabilization Fund projected assessment range now runs from negative $1.9 billion to negative $400 million, compared to the negative $200 million to $1.6 billion projection from the second quarter of 2013. As long as both ends of the range remain negative, there will likely be no need for future assessments.

The net proceeds from the $1.4 billion JPMorgan Chase settlement in November 2013 and the continued improvement in the performance of the legacy assets underlying the NCUA Guaranteed Notes (NGN) program during the third quarter of 2013 caused the decline in the assessment range.

“Our legal team is diligently pursuing our claims against the Wall Street securities firms who sold faulty securities to five corporate credit unions, causing them to fail and triggering a crisis in the system,” NCUA Board Chairman Debbie Matz said. “That hard work is paying off, and we will continue our efforts to hold accountable those who helped precipitate the crisis.”

Click here to read the full story from NCUA.

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CUES Credit Union Executive Dialogue - March 20-21

If you are a CEO or senior executive at a credit union with $500 million or more in assets, make plans to attend the CUES Credit Union Executive Dialogue, March 20–21, 2014 at the Hyatt Regency Coconut Point in Bonita Springs, FL.

Join us for this robust roundtable and discuss region-specific issues that reflect on the state of the industry. Terence Roche, principal, Cornerstone Advisors, Inc., will be on hand to facilitate collaborative conversation and healthy debate. Don't miss your chance to be part of this open exchange with other influential credit union leaders. Click here to learn more from the event brochure. 

Make your hotel reservation before Feb. 19 to get the group rate. Call 800.233.1234 and mention CUES. The hotel will accept reservations after Feb. 19 based on availability.

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Save the date: Southeast Regional CUNA Management School, June 6-13

If you want to develop and expand your leadership capabilities so you can contribute to the success of your credit union, be sure to save the date for the premier learning opportunity in the southeast, the Southeast Regional CUNA Management School, June 6-13 in Athens, GA.

Click here to register and learn more.

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CU happenings

Diane Long (right), CEO of Calhoun Liberty Employees Credit Union in Blountstown, FL, retires after 40 years. Diane turns the reigns over to Thomas Flowers (left). Thomas is a native of Blountstown, graduate of FSU and has been in the banking industry for 15 years. He is also the chairman of the Calhoun County Commission. 

Energen Credit Union in Montgomery held a ribbon cutting ceremony Feb. 7 celebrating their newly rebuilt facilities. The credit union's new building is located on Chestnut Street in the same location as they were before. They were able to purchase adjoining land and build a larger new building.

The Gulf Coast Chapter Board presented a $500 check to Victor Miguel Corro of the World Council of Credit Unions, Worldwide Foundation. (Left to right - Debbi Dial, David Southall, Victor Corro, Kenny Ray Mitchell, Lisa Warnick, and Charlotte Roark all board members.)

Florida West Coast CU CEO Mary Wood (left) and her husband, Railroad and Industrial FCU CEO Art Wood (right), hosted a fundraiser for Rep. Dennis Ross (R-FL). The reception brought in more than $22,000 for Rep. Ross. More importantly, by having the Woods host, credit unions were represented throughout the evening. 

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In This Issue
Friday Edition
JPMorgan Chase settlement reduces chance of future corporate assessments
CUES Credit Union Executive Dialogue - March 20-21
Save the date: Southeast Regional CUNA Management School, June 6-13
CU happenings
LSCU & Affiliates Media

Alabama Credit Union Association State GAC video
Check out the video from the Alabama Credit Union Association State GAC. The video features lawmakers, speakers and credit unions talking about the conference and the importance of grassroots advocacy.

NCUA Video: Small Credit Unions + Service = Success

This video highlights how three credit unions identified needs within their communities and stepped in with needed financial services. They took advantage of OSCUI's consulting services assistance and together maximized the benefit the credit union could provide to their members and the communities they serve.

Upcoming Event Deadlines
TODAY Last day to receive "early bird" rate for Security & Robbery Training - Tallahassee, FL
Feb. 17 Last day to receive "early bird" rate for FCUA State GAC - Tallahassee, FL
Feb 18 Last day to receive “early bird” rate for IRA Essentials & Advanced Training – Birmingham, AL
Feb. 21 Last day to receive the group hotel rate for the FCUA State GAC - Tallahassee, FL
Upcoming League Events
Feb. 18 SAS CU Conference, Orlando, FL
Feb. 19 SAS CU Conference, Hollywood, FL
Feb. 19 Opening Accounts for Minors
Feb. 20 SAS CU Conference, Birmingham, AL
Feb. 20 Required IT Risk Assessment Program
Feb. 27 Security & Robbery Training, AL  *New date due to winter weather conditions.
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