April 3, 2014
Thursday Edition
2014 LSCU Cooperative Image Campaign coming in May

The LSCU Cooperative Image Campaign will return in 2014. Beginning in May, Alabama and Florida consumers will once again see the "Credit Unions: we're giving banking a better name" message. Earlier this year, the U.S. House Ways and Means Committee released a comprehensive tax reform discussion draft that called for no change in the tax status for credit unions. With the tax issue on the back burner, the League is moving forward with the Cooperative Image Campaign.

None of the money raised for the 2013 Cooperative Issues Campaign was used so the League will redirect those contributions to the Image Campaign. Some credit unions contributed to last year’s campaign to fight for the preservation of the credit union tax exemption. If they would like their contribution refunded, the League will send it back as soon as possible.  

The LSCU Cooperative Image Campaign Taskforce is working on ways to make the contribution dollars go further and make the campaign more robust. Media plans for the 14 media markets in Alabama and Florida will be available soon. If you have any questions or comments, contact LSCU VP, Communications Mike Bridges at 866.231.0545 ext. 1022.

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Action Alert issued on financial literacy bill in Florida

Financial literacy is an important issue for all Floridians. Credit unions are partnering with their communities to offer programs that teach important financial management skills to ensure that members, particularly younger members, are well-equipped to be financially independent. Many credit unions partner with schools to teach high school students how important these skills are for life.

The League's GA team has been working with legislative leadership to promote the importance of financial literacy, including support for SB 212 by Sen. Dorothy Hukill (R-Port Orange). Sen. Hukill's bill would require ½ credit in personal financial literacy as a prerequisite to HS graduation. The instruction would require discussion on: types of bank accounts offered; balancing a checkbook; basic principles of money management such as spending, credit, credit scores, and managing debt; completing a loan application; receiving inheritances; basic principles of personal insurance policies; computing federal income tax; local tax assessments; computing interest rates; simple contracts; contesting incorrect billing statements; types of savings and investments; and state and federal laws concerning finance.

This bill currently has 10 co-sponsors and has the support of a broad coalition of financial institutions, businesses, non-profits, financial education groups, and parents throughout Florida. Florida credit unions are asked to contact their lawmaker by visiting the LSCU Action Center webpage. The letter is targeting members of the Senate Subcommittee on Education Appropriations. It is already preloaded and ready to go. If you have any questions, contact LSCU SVP, Association Services Jared Ross at 866.231.0545 ext. 1012.

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Submission for the LSCU awards is as easy as 1-2-3

The League wants to recognize your credit union, your board volunteer, your young professional and professional, and/or your person of distinguished service with a prestigious LSCU award!

Submission is as easy as 1-2-3 with three ways to submit:

  1. An online submission form
  2. A fillable PDF that can be emailed
  3. A downloadable PDF that can be downloaded, filled out (by hand or electronically) and sent via snail mail

All that is required is a 250-word summary of why the person or credit union should be considered for the award and two supporting documents. For CU of the Year submissions, a filled-out financial performance form is required in addition to the summary/supporting documents.

More awards information, as well as entry forms, can be found on the LSCU Credit Union Awards webpage. If you have any questions, contact LSCU Director, Communications Amy Jowers.

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NCUA offers Small Dollar Lending webinar

Learn how consumer-friendly, low-cost, short-term loans can be part of your credit union's product mix during NCUA's free webinar, “Small Dollar Lending” on Wednesday, April 16, at 2 p.m. EST.

The webinar will discuss how some credit unions have created short-term lending programs that work for their members and factors to consider before starting such a program, including:

  • The benefits short-term, small-dollar loans can bring to a credit union’s portfolio mix
  • Regulatory concerns governing this type of product offering
  • The costs associated with developing or initiating short-term loans

Online registration for this free webinar is now open. Participants will also use this link to log into the webinar. Don't forget to allow pop-ups from this website.

Click here to submit questions in advance. Or for technical questions about accessing the webinar, click here.

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Latest CU House newsletter now available

The Credit Union House released its latest newsletter this week. Click here to check out the first quarter Highlights from the Hill today. This issue includes a note from Credit Union House Director Sue McCue, a recap of third quarter events hosted by the Credit Union House, and the new 2014 Hall of Leaders Inductees including Pen Air FCU's Betty Petree.

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In This Issue
Thursday Edition
2014 LSCU Cooperative Image Campaign coming in May
Action Alert issued on financial literacy bill in Florida
Submission for the LSCU awards is as easy as 1-2-3
NCUA offers Small Dollar Lending webinar
Latest CU House newsletter now available
LSCU & Affiliates Media

President's 1Q Video
LSCU president/CEO gives his first quarter video for 2014. He looks at the CUNA GAC, tax reform, and the new Southeast Credit Union Conference. He also talks about the 2014 Dues Rebate.


Conversation with Florida CFO Jeff Atwater
Florida CFO Jeff Atwater stopped by the LSCU & Affiliates in March to talk about how the state is performing and where credit unions fit in the financial landscape.

 

Upcoming Event Deadlines
April 7 Last Day to Register for Spring Regulatory Compliance Update - Tallahassee, FL
April 9 Last Day to Register for Spring Regulatory Compliance Update - Birmingham, AL
Extended to April 22 Last Day for Early Bird Rate for OFAC & Bank Secrecy Act School – 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 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
April 15 Managing CUs' BYOD & COPE Policies
April 16 Official Demand for Member Funds
April 17 Examination Findings of the CFPB
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