April 22, 2014
Tuesday Edition
Five more risk based capital meetings this week

The LSCU & Affiliates have six risk based capital town hall style meetings on the schedule for this week. Florida credit union hosted the first one on Monday in Gainesville. The meetings give credit unions an opportunity to learn more about the NCUA's proposed rule, learn some insights into writing a comment letter and offer feedback to the League. The comment letters are due May 28.

This week's meeting schedule is below:

  • April 22 - Tampa - 8 am at Suncoast CU
  • April 23 - Orlando - 8 am at Fairwinds CU
  • April 24 - Huntsville - 10 am at Redstone FCU
  • April 24 - West Palm - 8 am at Goldcoast FCU
  • April 25 - Tallahassee - 8 am at LSCU offices

Check the League's Risk Based Capital Resource webpage for more information and resources.

For those credit unions that would like to attend, email LSCU & Affiliates VP, Compliance Training and Information Bill Berg (Florida) at 866.231.0545 ext. 1028 or Director of Regulatory Affairs Scott Morris (Alabama) at ext. 2165.

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Lawmakers seek colleagues' backing on RBC plan changes

Two members of the House Financial Services Committee, Reps. Peter King (R-N.Y. ) and Gregory Meeks (D-N.Y.), are circulating a letter among House colleagues urging the NCUA to consider changes to its proposed risk-based capital (RBC) regulations. The letter expresses the concern that any final RBC rule should not unduly burden credit unions and should not adversely affect healthy credit unions' ability to meet the financial services needs of their members.

The League is sending the letter to the Alabama and Florida House delegation urging them to sign. The letter notes several concerns that must be addressed before the NCUA adopts a rule. The legislators plan to forward the letter to the agency once congressional signatures are collected.

The letter encourages the NCUA to:

  • Take into account the cost and burden of implementing new risk-based capital requirements beyond the current leverage ratio
  • Provide justification and more clarity as to why the proposed risk weights differ from those applied to other community financial institutions
  • Give credit unions more time than the proposal's allotted 18 months to come into compliance after it is finalized

Comments on the RBC plan are due to the agency by May 28. This past week CUNA repeated its call on the agency to extend the comment deadline by 90 days.

To read the full story visit LSCU & Affiliates' Top Stories.

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InfoSight spotlight: Collection practices

Making a collection call may be an uncomfortable task—but it is often a necessity. To help you make a calm telephone call, and make an efficient use of your member’s time (and yours), a Collection Practices page is in the Bankruptcy and Collections channel of InfoSight.

The Collection Practices page provides seven rules that you can follow when you need to make a collection call. Among the rules listed are:

  • Always verify that you are speaking with the member. Discussing a member’s finances with a third party violates privacy laws.
  • Keep your voice businesslike. This is particularly significant because at times a member will become upset and angry and use defensive tactics which may surprise you.
  • Always let members tell their side of the story. The most effective way for a collector to proceed is to hear the member out and then get to the task of bringing the account up-to-date. By taking time to listen to the member, a collector may be more likely to gain the member’s cooperation

Visit the Collection Practices page today for the details you need to remain in compliance.

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Submit your items for 2014 Silent Auction today!

The Southeast Credit Union Conference & Expo, formerly the LSCU AC&E, is now accepting items for this year's Silent Auction. Support a great cause while having 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.

Click here for the Silent Auction donation form, or for more information contact LSCU Governmental Affairs Specialist Jordan Burroughs at 866.231.0545 x1008. Check the LSCU Facebook page to see items as they are donated.

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Charitable Donation Accounts Webinar tomorrow with NCUF and MEMBERS Trust Co.

The National Credit Union Foundation (NCUF) and MEMBERS Trust Co. will be hosting a webinar for the State Credit Union Foundation (SCUF) Network tomorrow, Wednesday, April 23, to discuss the new CIF investment option known as the Charitable Donation Account (CDA).

The CDA option can be a powerful fundraising tool. This investment allows a credit union to make a charitable contribution and the contribution pays for itself. Over the last three years, an investment in the CDA would have allowed a credit union to contribute 5.27 times more on their charitable donations and earn back themselves five times more than making a CD investment. 

Click here for more information and to register for the webinar.

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In This Issue
Tuesday Edition
Five more risk based capital meetings this week
Lawmakers seek colleagues' backing on RBC plan changes
InfoSight spotlight: Collection practices
Submit your items for 2014 Silent Auction today!
Charitable Donation Accounts Webinar tomorrow with NCUF and MEMBERS Trust Co.
LSCU & Affiliates Media

Alabama Credit Union Act Update
LSCU & Affiliates Director of Regulatory Advocacy Scott Morris goes over some of the important parts of the update to the Alabama Credit Union Act.

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.

Upcoming Event Deadlines
TODAY Last Day for Early Bird Rate for OFAC & Bank Secrecy Act School – Birmingham, AL

TODAY 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

May 2 Last Day for Early Bird Rate – SAS Credit Union Conference - Tallahassee, FL
Upcoming League Events
TODAY Negotiable Instrument Precautions
TODAY - Risk Based Capital Meeting in Tampa
April 23 Ability to Repay-Comply with SFPB Rules
April 23 - Risk Based Capital Meeting in Orlando
April 24 - Risk Based Capital Meeting in Huntsville
April 24 BSA Officer Duties & Update
April 24 - Risk Based Capital Meeting in West Palm Beach
April 25 - Risk Based Capital Meeting in Tallahassee
May 13 SAS Credit Union Conference
April 30 - Risk Based Capital Meeting in Mobile
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