March 7, 2014
Friday Edition
Credit union commentary posted in Palm Beach Post, Miami Herald

To begin the Florida legislative session, Patrick La Pine on behalf of the Florida Credit Union Association, an affiliate of the LSCU, wrote a commentary on priorities for this session. Those priorities included public deposits, data security, and youth financial literacy. On public deposits, La Pine writes, "As the 2014 session gets underway, the credit union association is committed to vigorously advocating for any proposal that would bring Florida in line with 33 other states that allow credit unions to accept public deposits and spur competition among eligible public depositories." Right now municipalities in Florida and Alabama can only choose between banks.

The Florida House and Senate have already begun looking into stronger financial literacy for students. The Florida Credit Union Association advocates the measures as La Pine writes, "Proposed legislation has already been filed in both the Florida House and Senate that would require high school students to take a half-credit hour in financial literacy to qualify for graduation. The association supports this and any effort that would help foster a more financially literate and responsible youth."

Read the full commentary by visiting the Palm Beach Post website or the Miami Herald website.

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NCUA offers resources on cybersecurity

The NCUA has stated on numerous occasions that cybersecurity is one of its top priorities for credit unions. It has even risen above interest rate risk following the Target data breach. The new webpage provides links to cybersecurity and data security resources, as well as sharing forums on cyber threats.

The page is meant to be used as a resource and not as containing all of the requirements or provisions needed to be in compliance. This is a good starting point for credit unions to gain more understanding and share ideas on cybersecurity.  

The NCUA also is working on better understanding the evolving cyberthreat environment with other financial regulators, law enforcement, and intelligence communities, as part of a new working group. You can access the new cybersecurity resources by visiting the NCUA's website.

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CU happenings

Alabama Telco Launches new Save Up CD
Last month, Alabama Telco Credit Union added a new CD to their investment lineup, designed specifically to help those struggling or looking for an easier way to save money. While most investments require an initial investment of $1,000 or more, their Save Up CD only requires a minimum deposit of $500. Unlike other CDs, it also allows consumers to make additional deposits of $100 or more once it is opened and it is not a long-term commitment. Consumers get a low fixed rate for a year and then they are given the option to move it to an investment with a higher rate of return, renew it, or cash out.

“We designed our Save Up CD for those looking to learn how to save, build confidence in their investments, and enjoy a little flexibility with their funds. So many of our members are looking for a better way to start saving. We listened to their concerns and needs, and decided to offer them something not available at most financial institutions,” states Stanton Davis, vice president of marketing for Alabama Telco Credit Union.

eCO Credit Union celebrates its 75th anniversary
with $75 celebration winners

To celebrate the milestone year, eCO Credit Union in Birmingham hosted a $75 celebration. All eCO Credit Union members were invited to submit reasons they like eCO Credit Union. Almost 400 members took the time to express in writing why they like eCO and the difference the credit union has made in their lives throughout the years. After submitting, members were entered into a daily drawing for $75. Members were selected at random from January 1 through eCO’s Annual Meeting on February 20—for a total cash giveaway of $3,825!

“It was incredible to read the impact eCO Credit Union has made in the lives of members throughout the years,” said eCO Marketing Manager Melissa Reeves. “From members who joined more than 40 years ago to members who joined a few weeks ago, eCO employees have helped provide financial solutions for members for many years—while also taking the time to get to know members and invest in them personally.”

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Last day to save on National Credit Union Youth Week swag

National Credit Union Youth Week is April 20-26. Order your catch the $ave Wave swag today and save up to 10 percent with discount pricing. Hurry - today is the last day to save.

Click here to shop. 

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In This Issue
Friday Edition
Credit union commentary posted in Palm Beach Post, Miami Herald
NCUA offers resources on cybersecurity
CU happenings
Last day to save on National Credit Union Youth Week swag
LSCU & Affiliates Media

NCUA Economic Update - Feb. 2014
In the latest update, NCUA Economist John Worth explores Labor Market Performance and Consumer Spending.

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).

Upcoming Event Deadlines
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
March 11 Security & Robbery Training, FL
March 12  Comprehensive Notary Training
March 14 Elder Financial Exploitation (ARCHIVED)
March 18 IRA Essentials Workshop, Birmingham AL
March 18 Vendor Contract Management
March 19 IRA Advanced Workshop Birmingham, AL
March 19 Understanding ALM Concepts
March 20 - 21 LSCU/CUES CU Executive Dialogue
March 20 Deposit Member Has Died: Now What?
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