February 25, 2014
Tuesday Edition
LSCU from the GAC video looks at media opportunities

A media panel at the CUNA GAC gave credit unions tips on how to get more media coverage including a pointed reason why most are not good at it. The LSCU and a Birmingham credit union picked up special awards and an Alabama GAC Crasher is profiled. Click the picture below to view the video.


For more from the CUNA GAC, visit the LSCU Top Stories and the LSCU Facebook page. For Twitter users, search #CUNAGAC.

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Don't Tax Tuesday is today

The House tax writing committee is expected to release a new tax reform proposal as early as this week.

Knowing this, the banks’ lobbyists are attacking credit unions in new ads running in Washington this week. Banks are doing whatever they can to tax credit unions and eliminate their low-cost alternative for financial services.

This is why CUNA and the League are asking credit union advocates to participate in today's #DontTaxTuesday campaign and tweet to their legislators with the hashtag #DontTaxMyCU or post a similar message on their lawmaker's Facebook page. Engaging is easy—just visit Don't Tax My Credit Union to post a Tweet or Facebook message to your legislators in a few short clicks.

Remember to include #DontTaxMyCU in your posts.

CUNA and LSCU staff will also be live tweeting throughout today’s general session, as well as the whole CUNA GAC.

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Washington wire

Merchant Data Breach
Last week, CUNA and the League sent letters to the Senate Banking Committee and the House Financial Services Committee encouraging them to continue their focus on the issue of merchant data breach. The Senate Banking Committee held hearings on merchant data breach on Feb. 3 and Feb. 6; the House Financial Services Committee has not held a hearing on the breach, but there is expectation they will do so in the near future.

Tax Reform
It has been widely reported that House Ways and Means Committee Chairman Dave Camp will release a comprehensive tax reform bill later this week. It is worth noting that a few media outlets have indicated it is possible that the draft proposal will include a new bank tax, perhaps on the sale of derivatives. When the proposal is released, CUNA and the League will analyze it to determine its potential impact.

For the complete Legislative Update click here

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InfoSight spotlight: Foreign Sanctions Evaders List (FSEs)

OFAC has released its list of those persons identified as Foreign Sanctions Evaders, implementing Executive Order 13608. The list targets individuals and entities that OFAC has determined to have violated, attempted to violate, conspired to violate, or caused a violation of U.S. sanctions on Syria or Iran. It also lists foreign persons who have facilitated deceptive transactions for or on behalf of persons subject to U.S. sanctions. Transactions by U.S. persons or within the United States involving FSEs are prohibited.

This list is not part of the Specially Designated Nationals (SDNs) or Palestinian Legislative Council (PLC) list, although names may appear on both. Credit unions should check persons and transactions against this list, as well as the SDN and PLC list for possible matches. If a match is found, contact OFAC at 1-800-540-6322.

Transactions involving a listed party must be rejected. Accounts held for listed persons must be restricted, and may not be operated without authorization from OFAC.

Visit the OFAC FSE Topic for information on the FSE and other OFAC related information for the explanations and details you need to remain in compliance.

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CUNA committee nominations due Feb. 28

Nominations to serve on a CUNA committee are coming to a close. The deadline to submit nominations for 2014 committee appointments is this Friday, Feb. 28.

If you are interested in serving on a CUNA committee, complete the bio-data form and return it to LSCU VP, Cooperative Initiatives Laura Vann. The form is designed to gather the information needed to process appointments and to assist in determining areas of interest, expertise, and availability. Potential committee members should be knowledgeable, dedicated, and familiar with the important issues that must be addressed.

Committee members appointed in 2013 will continue serving until new committees are announced. A complete list of committees and members can be found here.

For more information on CUNA committees or the nomination process, contact Laura Vann at 866.231.0545, ext. 2181.

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CUNA and state leagues test new online tool

CUNA along with California and Nevada Credit Union Leagues have announced that they are partnering on PowerComment.org, a new online resource for credit unions to engage with regulators on key issues. The tool, now in the testing phase, helps credit unions express concerns to regulators on pending proposals.

Additionally, PowerComment helps explain all proposed rules issued by regulators and helps individuals determine how those rules may affect their credit union. The website, which will be available exclusively to CUNA-affiliated credit unions, also provides a discussion board so that credit unions can discuss any questions or concerns with other members. Further, PowerComment helps users efficiently generate and submit letters to federal regulatory agencies, including NCUA, CFPB, and other federal or state regulators.

PowerComment.org is currently being tested by seven credit union state leagues and is set to be available for all members later this year.

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In This Issue
Tuesday Edition
LSCU from the GAC video looks at media opportunities
Don't Tax Tuesday is today
Washington wire
InfoSight spotlight: Foreign Sanctions Evaders List (FSEs)
CUNA committee nominations due Feb. 28
CUNA and state leagues test new online tool
LSCU & Affiliates Media

LSCU from the GAC Day One
The LSCU & Affiliates posts a video each day from the CUNA GAC.. On Sunday, Pen Air FCU volunteer and longtime employee Betty Petree received a prestigious honor and a first time attendee talks about bringing information back to the Young Professionals in his state.


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.

Upcoming Event Deadlines
Extended to Feb. 28 Last day to receive the group hotel rate for the FCUA State GAC - Tallahassee, FL
Upcoming League Events
TODAY  ALLL Troubled Debt-Asset Restructuring
Feb. 26 Tax Return Is Telling Me? Schedule E & F
Feb. 27 Security & Robbery Training, AL  *New date due to winter weather conditions.
Feb. 27 Essential HR Record Keeping from Hiring to Firing
March 4 Create Social Media Policy
March 5 RESPA Essentials & Overview
March 6 Loan Origination-Regulatory Environment
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