March 5, 2014
Wednesday Edition
2013 financials show continued positive trends at CUs

NCUA's 2013 call report data, released Monday, shows continued positive trends in loan, membership, and net worth growth for federally insured credit unions.

CUNA President/CEO Bill Cheney said the year-end financials illustrate that "credit unions are experiencing a renaissance of sorts in lending, particularly in the new and used auto loans."
 
"Although credit unions never stopped lending and working with their members, they have clearly left the recession in the dust and are looking forward," Cheney noted.

However, NCUA Chairman Debbie Matz used the release of 2013 call report data to warn credit unions not to take on "excessive" interest rate risk. She highlighted that growth in five- to 10-year investments was nearly 60 percent and called it "cause for concern."

"It's easy to get trapped chasing near-term profits by increasingly concentrating investments in long terms. That can imperil a credit union because it increases interest rate risk...For many credit unions it may be prudent, at this time, to accept lower return on assets to avoid exacerbating interest rate risks," the head federal credit union regulator advised.

Investments grew to $299 billion, up from $280 billion at the beginning of 2013, then declined to $285 billion by the end of the year. The NCUA said most of that decline was in short-term investments; the most dramatic growth occurred in 5- to 10-year maturities, which increased by $14 billion, or the 60 percent noted above.

Click here to read the complete article from CUNA News Now.

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Florida Credit Union Association legislative update

A bill sponsored by Rep. Doug Broxson (R- Gulf Breeze), HB 673 passed favorably in its second committee of reference and will be heard next by the Regulatory Affairs Committee before it heads to the floor. Included in this bill is a change in language to clarify what information credit unions must provide when new board members are elected. If passed, this bill will allow the Office of Financial Regulation to repeal a rule that requires credit unions to provide a full biography on board members. The language would now require only that credit unions send in names, titles, and addresses, the same requirements for banks. The Senate companion to this legislation, SB 1012 by Sen. Garrett Richter (R-Naples), will be heard this week in the Banking and Insurance committee.

This week, Security for Public Deposits, SB 564, sponsored by Sen. Richter will be heard in the Appropriations Subcommittee on General Government. This is a cleanup bill of Chapter 280, the Security for Public Deposits act. Although this bill does not include allowing credit unions as public depositories, it continues to be a great opportunity to educate lawmakers on the issue. The League's governmental affairs team will continue to monitor the progress of this legislation for any further opportunities as it moves through the legislative process.

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Alabama and Florida families featured in CU Times

The Credit Union Times posted a story this week about how credit unions keep it "all in the family." Seven families were featured that were either related by birth or by marriage. Florida CEOs Art and Mary Wood were featured, as was Alabama's family affair with Mike, Daphne, and Heath Harrell (all CEOs) and Rick, Paula, and Ryan Miller where father and son are CEOs and Paula is SVP. 

The articles are short and have funny insights into how the families interact and whether they rely on each other to make hard decisions. Mike Harrell has a funny story about how Daphne asked his opinion and then went against it. Good thing she did. Read about them through the links below:

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LSCU/CUES Credit Union Executive Dialogue

If you are a CEO or senior executive at a credit union with $400 million or more in assets, don't miss your chance to attend the LSCU/CUES Credit Union Executive Dialogue, March 20–21, 2014, at the Hyatt Regency Coconut Point in Bonita Springs, FL.

Alan Stabler with America's First FCU out of Birmingham is planning to attend the dialogue again this month. He says that "this is a unique opportunity for large credit unions to contribute to the future of the industry through healthy discussions, debates, and conversations," and that "all are integral components for success."

Be a part of this robust roundtable and discuss 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.

Click here for more information.

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What will the 2014 ICU Day theme be? Help decide

Several themes have been selected as potential hopefuls for this year's International Credit Union Day on Oct. 14. Now is your chance to pick your favorites from the best-of-the-best. The theme idea with the most votes will be the official recommendation from the United States to the world committee.

Click here to vote for your top two themes ideas. Be sure to vote by March 12 to have your selections considered by the world committee.

The winning theme will be revealed in May.

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In This Issue
Wednesday Edition
2013 financials show continued positive trends at CUs
Florida Credit Union Association legislative update
Alabama and Florida families featured in CU Times
LSCU/CUES Credit Union Executive Dialogue
What will the 2014 ICU Day theme be? Help decide
LSCU & Affiliates Media

LSCU from the GAC Day Four
The final day of the CUNA GAC was spent on Capitol Hill. Alabama and Florida credit unions made 36 Hill visits in eight hours. Go inside the visits on LSCU from the GAC. Plus, Alabama Credit Union wins its third straight Dora Maxwell Award.

LSCU from the GAC Day Three
Alabama and Florida credit union attendees had two meetings with the NCUA. Additionally, Lawmaker of the Year awards were handed out to Reps. Spencer Bachus (R-AL) and Alcee Hastings (D-FL).

LSCU from the GAC Day Two
The LSCU from the GAC video looks at media opportunities for credit unions. Plus, a GAC Crasher from Alabama talks about her experience and what it will mean for her career.

Upcoming Event Deadlines
March 6 Last Day for Early Bird Rate – Spring Regulatory Compliance Update – Birmingham, AL
March 10 Last Day to Register for Security & Robbery Training - Tallahassee, FL
March 17 Last Day to Register for IRA Essentials & Advanced Training - Birmingham, AL

March 18 Last Day for Early Bird Rate – Disaster Recovery Conference – Mobile, AL

March 20 Last Day for Early Bird Rate – Disaster Recovery Conference – Jacksonville, FL

March 24 Last Day to Register for FCUA State GAC - Tallahassee, FL

Upcoming League Events
TODAY RESPA Essentials & Overview
March 6 Loan Origination-Regulatory Environment
March 11 Security & Robbery Training, FL
March 12  Comprehensive Notary Training
March 14 Elder Financial Exploitation (ARCHIVED)
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