March 26, 2014
Wednesday Edition
Update from the FCUA State GAC

The Florida Credit Union Association State GAC featured lawmaker visits on day one. This is a change from past years.

The lawmaker visits centered on public deposits, data security, financial literacy, and regulatory relief. Forty seven attendees made 27 visits on Tuesday. This included meetings with Sen. President Don Gaetz and House Speaker Will Weatherford. The meetings had great conversations with members and attendees.

Many lawmakers stopped through the lawmaker reception Tuesday evening. This is the perfect venue to build relationships in a relaxed atmosphere.

Earlier in the day, the State GAC kicked off with a welcome from LSCU & Affiliates President/CEO Patrick La Pine. Former Sen. Bob Mc Knight then led a session on meeting with lawmakers. He stressed three things when meeting with lawmakers: tell your story, play to your strengths, and direct contact. He also said it is important to follow up.

Day two of State GAC features regulators from OFR and NCUA Region III Director Myra Toeppe, a view from the cabinet, and LSCU lawmaker of the year Sen. Rene Garcia.

Stay connected with this year's Florida Credit Union Association State GAC. Like the League's Facebook page and follow the event on Twitter for photos and event updates.

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Dues rebate coming soon

For the second year in a row, affiliated credit unions of the League of Southeastern Credit Unions & Affiliates will receive a dues rebate. The rebate, which was approved by the LSCU board of directors for 2014, will be 8.7 percent. Credit unions that have paid their dues in full by March 31 are eligible to receive the rebate.

Expect your dues rebate in the form of a paper check by the end of April. There are a few restrictions that apply to the dues rebate: 

  • Credit unions must pay their dues in full by March 31 to be eligible for the rebate
  • Credit unions that were not affiliated in previous years are eligible to receive a dues rebate in 2014, but dues must be paid in full by March 31
  • Any credit union receiving a dues waiver or reduction in 2014 is not eligible for a rebate

If you have any questions regarding the 2014 rebate, contact LSCU VP of Cooperative Initiatives Laura Vann at 866.231.0545, ext. 2181.

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Update on Larry Morgan's resignation

At this time, Lloyd Moore, the administration's assistant administrator, will be the interim administrator. It is expected that he will serve in this role until an administrator is appointed by Gov. Robert Bentley. The appointment of a new administrator could come as late as November, when the elections are over in Alabama.

The LSCU has been asked about the status of our State Credit Union Act legislation that recently passed and whether or not this resignation jeopardizes the bill in any way. At this time the League does not see any issues arising from Morgan’s resignation. The League has been told that the governor’s office is, in fact, eager to sign the legislation and could possibly do so as early as this week. In the meantime, the League is attempting to set up a signing ceremony of the legislation if time permits. Be on the lookout for more information.

Moving forward, the LSCU plans to work with the governor’s office and help in any way on finding a permanent replacement for Morgan. Whoever is selected for the position of administrator of the Alabama Credit Union Administration should be a friend of the credit union movement, and the League will work with them on improving the regulatory environment of credit unions in Alabama.

If you have any questions, contact LSCU SVP of Association Services & Governmental Affairs Jared Ross at 866.231.0545, ext. 1012.

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Florida Credit Union Association legislative update

SB 212 by Sen. Dorothy Hukill (R-Port Orange) was passed out of the Senate Education Committee Tuesday. This bill would require students, beginning in the ninth grade, to take half of a credit of financial literacy as a requirement to graduate. The House version, HB 367 sponsored by Rep. Heather Fitzenhagen (R-Ft. Myers), is waiting to be heard in the K-12 subcommittee. The GA team has met with both the House and Senate sponsors of this bill and continue to work with them to help pass this legislation, as well as include credit unions in the development of any programs, should the legislation pass.

SB 1524 by Sen. John Trasher (R- St. Augustine) was passed out of the Senate Commerce and Tourism Committee Monday. This bill would require a covered entity, which covers any corporation in Florida that collects any type of personal data, to notify the Attorney General's office should a breach occur, as well as any individual whose information was compromised. The notification must be "expeditiously and without any unreasonable delay," and be made to the AG's office no later than 30 days after determination of the breach. The house version, HB 7087 by Rep. Larry Metz (R-Groveland), is waiting to be heard in the Judiciary committee.

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Spring Regulatory Compliance Updates coming in April

If you are a CEO/manager, mid-level to senior management, or compliance personnel be sure to attend one of the League's Spring Regulatory Compliance Updates this April.

The Spring Regulatory Compliance Update is a group-live training that will cover the legal and operational changes, occurring during the last 12 months, that impact your credit union.

Additionally, Jonathan Kudulis will be at the event to review the legal and operational changes that have occurred during the past twelve months. Jonathan will also address the legal environment changes that necessitate a response by credit unions. Such changes include Servicemember Civil Relief Act, UCC Article 9, and Remote Deposit Capture, among others.

Click on the dates and locations below for more information.
April 8, 2014 – Tallahassee,FL
April 10, 2014 - Birmingham, AL

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Save members money with the Sprint Credit Union Member Discount

Give your members big savings on their wireless services through the Sprint Credit Union Member Discount Plan. Thanks to an agreement between the League of Southeastern Credit Unions and CU Solutions Group, your credit union members can take advantage of this exclusive discount.

By enrolling in the Sprint Credit Union Member Discount Plan, members will receive a 10-percent discount on select individual service plans, a 15-percent discount on select business plans, plus waived activation and upgrade fees. All credit union members are eligible for this discount.

Benefits to your credit union:

  • Effective tool to promote the added-value of membership
  • Marketing incentives for participation = $ for the credit union
  • FREE marketing materials for statement mailings and lobby distribution
  • Requires little to no effort
  • Sprint handles all member service needs

For more information on the Sprint discount, contact Tori Shamy, program manager at 850.558.1172.

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In This Issue
Wednesday Edition
Update from the FCUA State GAC
Dues rebate coming soon
Update on Larry Morgan's resignation
Florida Credit Union Association legislative update
Spring Regulatory Compliance Updates coming in April
Save members money with the Sprint Credit Union Member Discount
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.


CUNA Risk Based Capital Video

CUNA produced a video to explain the NCUA's proposed rule. Plus, credit unions talk about what the proposal means to them. 

Upcoming Event Deadlines
April 7 Last Day to Register for Spring Regulatory Compliance Update - Tallahassee, FL
April 8 Last Day for Early Bird Rate for OFAC & Bank Secrecy Act School – Birmingham, AL
April 9 Last Day to Register for Spring Regulatory Compliance Update - Birmingham, AL

Extended to April 22 Last Day for Early Bird Rate – Disaster Recovery Conference – Mobile, AL

Extended to April 24 Last Day for Early Bird Rate – Disaster Recovery Conference – Jacksonville, FL

Upcoming League Events
TODAY 2014 FCUA State GAC
March 27 Trust Compliance in Accounts & Lending
April 1 Completing Flood Insurance Forms
April 2 ACH Rules Update 2014
April 3 Powers-of-Attorney on Deposit Accts
April 8 Spring Reg. Compliance Update FL
April 9 Compliance, Account Titling & Ownership
April 10 Spring Reg Compliance Update AL
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