March 12, 2014
Wednesday Edition
Jolly wins Florida District 13 Special Election

In what could be classified as a minor upset, Republican David Jolly defeated Democrat Alex Sink last night in a special election for Congressional District 13. Sink, who was endorsed by the LSCU, was expected to win a close election, largely in part to her superior name recognition. Jolly won with 48.5 percent of the vote while Sink received 46.6 percent. Libertarian candidate Lucas Overby received 4.8 percent of the vote. Jolly will replace the late Rep. Bill Young who passed away in October.

"For all of the national interests in this race, this is a Pinellas County community. . . . what brings this county together like so many other communities is we are sick and tired of the vitriol and rhetoric on both sides," Jolly said following the victory and reported in the Tampa Bay Times. 

Sink served as Florida’s Chief Financial Officer from 2006-2010. In 2010, Sink lost a razor thin gubernatorial election to Republican Rick Scott. Jolly is a former aide to Rep. Young and a lobbyist.

The League will now turn its attention to working with Congressman-elect Jolly as he transitions to his new office. Visit the Tampa Bay Times to read the full election wrap up.

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Bipartisan agreement reached on housing finance reform

Politico reports that on Tuesday, Senate Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID) announced that they have reached an agreement on a housing finance reform proposal. Last fall, the Senate Banking Committee hosted an in-depth series of hearings exploring essential elements necessary for reform and over the past few months they have been negotiating and drafting the reform proposal. The bipartisan agreement includes measures from Committee Members on both sides of the aisle, the Administration and stakeholders. Chairman Johnson and Ranking Member Crapo are putting finishing touches on draft legislative text that they plan to release publicly in the coming days, and they plan to hold a markup in the coming weeks.

“This agreement moves us closer to ending the five-year status quo and beginning the wind down of Fannie and Freddie while protecting taxpayers with strong private capital, building the components for a stable secondary market and avoiding repeating the mistakes of the past,” Crapo said. “Government control of Fannie and Freddie with no private capital to protect taxpayers against losses is unacceptable. Chairman Johnson and a bipartisan coalition of Senators deserve a tremendous amount of credit for making the hard decisions that will move us toward a stronger housing system that provides a balance between providing broad access to mortgages while protecting taxpayers from losses.”

Click here to read the complete report.

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Florida Credit Union Association legislative update

A bill sponsored by Sen. Garrett Richter (R- Naples), SB 1012, will be heard in the Appropriations Subcommittee on Criminal and Civil Justice this morning. Included in the 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 address, the same requirements for banks. The House companion to this legislation, HB 673, by Rep. Doug Broxson (R-Gulf Breeze), passed favorably in its second committee of reference last week and is waiting to be heard in the Regulatory Affairs committee.

Last week, HB 7009 by Rep. George Moraitis (R-Ft. Lauderdale) was heard in the Regulatory Affairs committee. This bill would update Florida's Security for Public Deposits Act. During debate on the bill, Rep. Darryl Rouson (D-St. Petersburg) brought to the attention of the committee that this bill does not correct the one true issue with the act, it does not include credit unions as qualified public depositories. While no amendment was offered, the point was well taken and the League thanks Rep. Rouson for bringing more attention to this issue.

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Pat Keefe named SVP for CUNA communications

CUNA announced Tuesday that Pat Keefe has been promoted to senior vice president of communications.

Keefe, who has nearly 30 years of experience with communications at the national level, has been with CUNA since 2000, most recently serving as vice president of communications.

"Pat was promoted to this position based on his long service to credit unions, his experience here at CUNA and his interaction with our executive team," said CUNA President/CEO Bill Cheney. "As senior vice president of communications, his role will be to ensure that CUNA continues to enhance its strong reputation as the leader of the credit union movement by all of our audiences, especially our member credit unions, the financial services industry, the Washington community and the public at large."

"I'm greatly honored to represent the credit union movement and will use my experience and background to help protect and advance the movement's interests," Keefe said.

Keefe takes over the role left by Paul Gentile when he was named president/CEO of the Massachussetts CU League.

Click here to read more.

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CO-OP presents two-part webinar series: Join The Evolution

Join CO-OP for a two-part webinar series, Join the Evolution, exploring the opportunities being unearthed as members and member experiences evolve with rapidly-changing times.

  • Thursday, March 20, 2014 10:30 a.m. PT/ 1:30 p.m. ET
    Leveraging Retail Trends To Grow Your Credit Union

    New realities are reshaping retail and raising member expectations across the board. How can credit unions recast the member experience to deliver speed, access, self-empowerment and trust – while actually improving operational efficiency and prospects for growth?
    Click here to register.


  • Wednesday, April 2, 2014 11:00 a.m. PT/ 2:00 p.m. ET
    Payments Through History – And Into The Future

    Two evolutionary forces have driven changes in payments since the dawn of barter. Find out how convenience and safety have compelled us from the trading era through cash transactions, charge cards and into the new virtual reality. Will a new, accelerated evolutionary timeline create new connections between credit unions and their members.
    Click here to register.
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In This Issue
Wednesday Edition
Jolly wins Florida District 13 Special Election
Bipartisan agreement reached on housing finance reform
Florida Credit Union Association legislative update
Pat Keefe named SVP for CUNA communications
CO-OP presents two-part webinar series: Join The Evolution
LSCU & Affiliates Media

Bobby Bowden Keynotes SCUCE
Former Florida State football coach Bobby Bowden will be the keynote speaker at the Southeast Credit Union Conference and Expo in Orlando in June. Coach Bowden will talk to credit unions about leadership, growing a team, and learning.

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

Upcoming Event Deadlines
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 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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