March 17, 2014
Monday Edition
President's Point

This past week we held the LSCU & Affiliates board meetings at the Credit Union Center in Tallahassee. It’s the first time the board has met in Tallahassee in four years. The Credit Union Center offers both the technology and layout conducive for board meetings; something we didn’t have in our old Tallahassee facility. Plus, we had a chance for the board to meet our Tallahassee-based staff and put faces to names and to emails that they have sent. It was a good week.

Here are some of the highlights from the meetings. I’m happy to say that the League and LEVERAGE had another great year financially in 2013. In fact, it was the best year yet for LEVERAGE. Just like last year, the LSCU board approved a dues rebate for member credit unions. We won’t know the final amount of the dues rebate until the end of the month, but it looks like it will be between eight and 10 percent. The League net income was more than $280,000, while LEVERAGE had a net income of more than $500,000. The exact amount of the rebate will be determined by the end of March.

During our board meeting, Florida CFO Jeff Atwater came by and talked to the board and answered questions. He said that he appreciates the work credit unions are doing and is fully behind our efforts to accept public deposits. He wants to help us as we push that legislation. Brad Green, Listerhill CEO and CUNA board member gave a CUNA update. During the meeting we learned that Bill Cheney is leaving CUNA in June. This sparked quite a bit of discussion on the future of CUNA, as well as the CUNA/League system. I’ll write more about that in next week’s President’s Point.

Coming up in about a month, you will receive information about 2014 LSCU & Affiliates board elections. We have five seats up for election this year. Leianne Harden is resigning from the board to concentrate on her credit union. Her Florida Class A seat will be open and we will be seeking a new Florida director to fill her remaining two-year term on the board. Immediate Past-Chair Joe McGee (AL-Class D) is up for re-election. However, his credit union is now a Class C based on membership size, meaning he can’t run for this Class D seat, which he currently represents. This will create another open seat. Chairman Mary Ott-Wood (FL-Class B), Vice Chair Tina Williams (AL-Class B), and Secretary Brent Lister (FL-Class C) are each up for re-election and plan to run. The LSCU will be sending out nomination information in April and elections will begin in early May.

Finally, Ron Williams from CUNA Mutual Group made a presentation to the boards. CUNA Mutual Group has been a strong partner of the LSCU & Affiliates, as well as a strong system partner. They offer innovative products and services to credit unions and state leagues. If it wasn’t for this partnership, the LSCU might not be able to offer such robust value of membership programs like PolicyPro. I hope you will consider their products for your credit union.

The next board meeting will be in June in conjunction with the Southeast Credit Union Conference and Expo in Orlando. Look for board election materials and I hope you will take part in the nominating and voting process. As you can see, the LSCU & Affiliates has a very engaged and active board on your behalf. I appreciate their hard work.

Where’s Patrick: This week I’m taking a couple days off to spend time with my family during my daughter’s Spring Break. Thursday and Friday I’ll be in Bonita Springs for the LSCU/CUES Credit Union Executive Dialogue. To see my tentative schedule for the next two weeks, click here.

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NCUA awards low-income grants to 127 credit unions

The NCUA is helping low-income credit unions offer new products, train the next generation of credit union leadership, and gain access to more resources to help their communities. The agency handed out more than $500,000 in new grants last week.

“We work each day to help low-income credit unions better serve their members and communities,” said NCUA Board Chairman Debbie Matz. “The credit unions that receive these grants will be able to offer more services to members, more resources to their communities, and more education for young people interested in financial services careers.”

Of the 127 low-income credit unions that received a Community Development Revolving Loan Fund grant, two were from Alabama. East Alabama Community FCU in Opelika received $5,000 for debit, credit, and prepaid cards. Alabama Teachers Credit Union in Gadsden received $2,500 for CDFI certification.

Congress established the Revolving Loan Fund to provide grants and loans to credit unions serving low-income communities. Since 2001, NCUA has received more than $12.8 million in grant funding. Visit the NCUA's website for a complete list of the credit unions that received a grant.

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Thank You Thursday tweets are successful

The credit union social media campaign, “Thank You Thursday,” once again showed the strength of credit unions. Throughout Thursday, state leagues, credit unions, and their members produced more than 1,000 messages through Twitter and other social media channels thanking Ways and Means members for their support of credit unions. These tweets had a total reach of more than a quarter-million social media users.

The idea was born out of the “Don’t Tax Tuesday” events, which have generated thousands of social media messages, reaching millions of social media users. While the Ways and Means plan was a big win, it was just the first word on tax reform – but it won’t be the last: Bankers this week sent letters to House members urging them (once again) to tax credit unions. There may be more social media campaigns on tax reform throughout the year.

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Last chance to register for CUES Ex Dialogue

Don’t miss the opportunity to attend the conference exclusively for large asset-size credit union executives ($400M and over) in Bonita Springs Florida.

You’ll be able to contribute to discussions on the state of the movement, its challenges and opportunities; scenario planning exercises and ongoing facilitated conversations.

Click here for more information. 

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In This Issue
Monday Edition
President's Point
NCUA awards low-income grants to 127 credit unions
Thank You Thursday tweets are successful
Last chance to register for CUES Ex Dialogue
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
TODAY 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 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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