March 10, 2014
Special election tomorrow

Tomorrow in Florida, LSCU endorsed candidate Alex Sink (Democrat) faces David Jolly (Republican) to replace the late Congressman Bill Young in the Congressional District 13 special election. Congressional District 13 consists of Pinellas County.

Sink was formally endorsed by the League in early February. Since her days as Florida's chief financial officer, she has fostered a solid working relationship with credit unions. Sink has made numerous visits to meet with credit union CEOs during her career. She has also spoken at LSCU events and met with the League's governmental affairs staff to gain a greater understanding of credit union issues. Sink's longtime support of the credit union industry, along with her expertise in the financial services industry, makes her an ideal candidate for credit unions.

The special election for Congressional District 13 will be March 11 and the winner will serve the rest of Rep. Young's term. 

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President's point

Last week in my column I wrote about a major victory in our grassroots efforts in advocating for our tax exemption. When Ways and Means Committee Chairman Dave Camp (R-MI) released his tax reform language, the credit union tax exemption was preserved. It was a good day (week) for credit unions. I got to thinking after I wrote that column that it really has been a very good first quarter for our advocacy efforts.  

I can’t emphasize enough how going to Washington, D.C. for the CUNA GAC and Hike the Hill makes a difference. Following the CUNA GAC, the U.S. House passed The Consumer Financial Protection Safety and Soundness Improvement Act (H.R. 3193), which provides greater authority to the Financial Stability Oversight Council (FSOC) to stay or set aside rules by the CFPB if they would have an adverse impact on the safe and sound operations of financial institutions. The CFPB was a point of emphasis in our meetings with lawmakers in D.C. and many credit unions gave “real world” examples of the regulatory burden and related cost that the CFPB was putting on them. You all feel it every day and the legislators responded to your needs. This should also be seen as a victory for credit unions. Plus, we set the table for date security, supplemental capital and privacy notification legislation.

On the state level, the update to the Alabama State Credit Union Act passed the House last week by a vote of 99-0. It now moves on to a Senate committee and then on to the full Senate. This provides a much needed update to the State Act. At our Alabama Credit Union Association State GAC, we had 52 state lawmakers visit our legislative reception. Those conversations helped set the stage for this first vote and I’m sure will help with the Senate vote.

In Florida, the session just got underway, but there have been a few highlights already. During debate on a bill dealing with public deposits, unrelated to our issue, Rep. Darryl Rouson (D-St. Petersburg), not prompted by our team, stated the real issue is that credit unions should be allowed to accept public deposits. This shows our efforts on this issue are sticking with our lawmakers. Also, we’ll have Florida CFO Jeff Atwater speak to our directors during the LSCU board meeting at the new Credit Union Center. He would like to help credit unions more, especially in passing public deposits.

These are great examples of us working together on our issues. Each of the victories above came about because of the League’s advocacy team working the halls in Montgomery, Tallahassee, and Washington, D.C., while also putting you in front of our state and federal lawmakers. Last week I wrote about keeping up the momentum. For Alabama and Florida, this is the most momentum we’ve had in some time.

Where’s Patrick: I’ll work in the Tallahassee office this week as we host our LSCU & Affiliates board meetings at the Credit Union Center. I’ll update you on the board meeting in next week’s President’s Point. To see my schedule for the next two weeks, click here.

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NCUA participates in Capitol Hill Consumer Protection Week event

Thursday, the National Credit Union Administration joined in on a Capitol Hill celebration of National Consumer Protection Week by educating congressional staffers about credit unions and the role of their federal regulator.

March 2-8 is National Consumer Protection Week. It is intended to encourage Americans to be better informed in their consumer decisions.

In his proclamation of the week, President Obama wrote, "This week, we remember that our nation's economy is only as strong as its people, and we recommit to fostering a sense of basic fairness in our marketplace." He called on government officials and private industry leaders to help educate Americans on their rights as consumers.

The NCUA has used the declaration of the week to highlight the many resources it provides consumers--especially on its two consumer-oriented websites, and Pocket Cents. These sites include tips to help consumers avoid financial scams and protect their financial well-being.

Click here to read the complete story in CUNA News Now.

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Now accepting items for 2014 Silent Auction

The Southeast Credit Union Conference & Expo, formerly the LSCU AC&E, is now accepting items for this year's Silent Auction. Get your name out there, support a great cause, and have some fun by donating an item to this year's event.

  • Each auction item will be displayed along with the name of the donating company
  • The League asks that each auction item have a retail value of at least $100
  • When submitting donations, make sure to attach a form to each donated item
  • You may either bring your donation(s) with you to the Southeast Credit Union Conference & Expo and turn them in at the registration desk by noon on Thursday, or you can mail them to the League prior to June 6, 2014

If you have questions about the Silent Auction or would like more information click here or call LSCU Governmental Affairs Specialist Jordan Burroughs at 866.231.0545 x1008.

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Sponsor a box set of Biz Kid$ DVDs for your local CMN Hospital

Credit Unions for Kids & the National Credit Union Foundation (NCUF) are partnering to enhance the financial education opportunities for patients and families at every Children's Miracle Network (CMN) hospital in the U.S.

Credit unions and chapters can now sponsor a box set of Biz Kid$ DVDs for their local CMN Hospital for $300. Box sets are encouraged to be purchased by March 15 so the donations to the hospitals can be made during April, which is National Financial Literacy Month.

In addition to helping the kids in the hospitals, there are other benefits for participating credit unions or chapters as each box set of Biz Kid$ DVDs for the CMN Hospitals donation program has been specially created with room for a credit union or chapter to customize the DVD box set with their logo, URL, etc., so patients and families know who donated the program.

As well as other recognition, each participating credit union or chapter who commits to sponsoring a Biz Kid$ DVD Box Set by March 15 will:

  • Be included in CU4Kids and NCUF press releases touting the initiative
  • Receive acknowledgment on the NCUF and CU4Kids websites
  • Be thanked publicly on Twitter by CU4Kids
  • Appear in a thank you ad running in credit union trade publications

For more information on this collaborative effort and to order the DVD box sets click here.

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In This Issue
Special election tomorrow
President's point
NCUA participates in Capitol Hill Consumer Protection Week event
Now accepting items for 2014 Silent Auction
Sponsor a box set of Biz Kid$ DVDs for your local CMN Hospital
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.

Upcoming Event Deadlines
TODY 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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