April 23, 2014
Wednesday Edition
Michaels announces data breach is identified and fully contained

As Target and Neiman Marcus begin to recover from massive data breaches that hit at the end of the year, Michaels Stores is added to the roster of those affected. In January, the retailer learned of possible fraudulent activity on some U.S. payment cards that had been used in its stores. The incident has now been identified and fully contained, and the malware no longer presents a threat while shopping at either Michaels or Aaron Brothers.

The retailer worked with two independent security firms to conduct an investigation, as well as with law enforcement authorities and coordinating with banks and payment processors to determine the facts. Following weeks of analysis, evidence confirmed that systems in the U.S. were attacked by criminals using sophisticated malware that had not been encountered previously by either security firm.

During the investigation, the retailer identified that affected systems contained certain payment card information, including payment card number and expiration date. There is no evidence that other customer information, such as name, address or PIN were at risk.

In Michaels Stores the attack targeted a portion of POS systems between May 8, 2013 and Jan. 27, 2014. The analysis conducted by security firms and the retailer, shows that about 2.6 million cards may have been impacted, which represents seven percent of payment cards used in the U.S. during that time.

To read the complete article visit Retail Info Systems News

Click here for a letter from Michaels' CEO Chuck Rubin regarding the breach.

Return to Top
Florida Credit Union Association legislative update

Clawson wins CD 19 Special Election
It turns out Florida's 19th Congressional district does like outsiders. After electing political newcomer Trey Radel in 2012, the voters of FL-19 have once again elected an outsider. Self funded candidate Curt Clawson defeated current Florida Senate Majority Leader Lizbeth Benacquisto and former state representative Paige Kreegel in the GOP special primary election.

The election was called when Radel resigned after being arrested on cocaine possession halfway through his first term. Benacquisto was the early favorite, though she could never overcome the outsider appeal of Clawson, who moved to the district shortly before filing for the election.

The 54-year-old former CEO of an aluminum wheel company will face Democrat April Freeman in the June 24 general election in the heavily Republican district, which includes parts of Lee and Collier counties. The winner will fill the seat left vacant by Trey Radel, who pleaded guilty to cocaine charges.

Keeping I.D. Safe (K.I.D.S.) Act passes House Floor
HB 151, by Rep. Heather Fitzenhagen (R-Ft. Myers), was passed on the House Floor Tuesday. Titled the Keeping I.D. Safe (K.I.D.S.) Act, this bill would allow parents and guardians to set up a credit record for their child and freeze it, protecting that child's Social Security number and other personal information until the child is ready to use credit. The law would also apply to vulnerable adults who have a legal guardian. The bill will now head to the governors desk for signature.

Financial Institutions bill passes through Senate Appropriations Committee
SB 1012, sponsored by Sen. Garrett Richter (R- Naples), was passed out of the Appropriations Committee Tuesday. Included in this 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 bill now heads to the Senate floor. The House companion to this legislation, HB 673, by Rep. Doug Broxson (R-Gulf Breeze), is also waiting to be heard on the House Floor.

Security of Confidential Personal Information bill expected to be heard today
SB 1524, by Sen. John Trasher (R- St. Augustine), will be heard on the Senate Floor Wednesday. This data breach bill would require a covered entity, including 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 house version, HB 7085 by Rep. Larry Metz (R-Groveland), is waiting to be heard on the House Floor.

Return to Top
Check out speakers for 2014 Southeast CU Conference

With 20 education sessions at the 2014 Southeast Credit Union Conference and Expo (SCUCE), you will want to peruse the sessions and speakers to plan out your daily schedule. Below are just a few of the speakers and their sessions. Click on the link to read a description of each session.

Frank Drake, partner, Smith Debnam Drake Saintsing & Myers, will speak on The Bitter with the Sweet: Compliance Law  with Homemade Jam!

Matthew Stiles, attorney, Maynard, Cooper & Gale, PC, will speak on Healthcare Emerging Trends in Affordable Care Act Compliance.  

Lois Kitsch, national program manager, REAL Solutions Program, NCUF, will speak to the Young Professionals Group, and lead a dialogue about the CUDE experience.

To view the complete schedule-at-a-glance visit the 2014 SCUCE website.

Don't delay, there is still plenty time to register! The process is easy and fast with online registration. Members will need to login to the website to register.

If you are out of state and would like to attend, contact LSCU Director, Conferences Julianne Talley at 866.231.0545, ext. 1148.

Return to Top
Alabama and Florida credit unions celebrate Earth Day

Several Alabama and Florida credit unions celebrated Earth Day with members and shared their festivities on Facebook.

Infirmary FCU in Mobile, AL, and Members First CU of FL marked the day by encouraging members to "go green" and sign up for eco-friendly, paperless banking methods such as e-statements, bill pay, and mobile apps.

SUN CU in Hollywood, FL offered members free green plants and GTE Financial in Tampa Bay, FL offered free trees to members who signed up for paperless banking.

And to complete the circle, Grow Financial FCU in Tampa offered some tree-hugging tips for their members. 

Did your credit union participate in Earth Day? If so be sure to share your merriment with the League and send us an email.

Return to Top
Army Aviation Center announces new president/CEO

Army Aviation Center Federal Credit Union (AACFCU) recently announced the selection of Robert  (Bobby) Michael as the organization’s new president/CEO.

“Bobby has many great ideas for continuing AACFCU’s history of growth and exceptional member service. His high degree of creativity will be critical in finding new ways to serve our membership and meet their financial needs,” said Charles Mingus, board of directors chairman. “The board is looking forward to seeing what the future holds for AACFCU under Bobby’s leadership.” 

Michael has spent the last nine years with CORE Credit Union in Statesboro, Ga. He served as the president/CEO of the $60 million credit union that provides services to Bulloch County, Ga. and select employer groups.

Michael replaces Jim H. Mitchell who retired after 29 years with AACFCU.

Return to Top
In This Issue
Wednesday Edition
Michaels announces data breach is identified and fully contained
Florida Credit Union Association legislative update
Check out speakers for 2014 Southeast CU Conference
Alabama and Florida credit unions celebrate Earth Day
Army Aviation Center announces new president/CEO
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

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 Ability to Repay-Comply with SFPB Rules
TODAY - 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
Follow Us
© Copyright, League of Southeastern Credit Unions & Affiliates
Phone: 866.231.0545
3692 Coolidge Court | Tallahassee, Florida 32311
22 Inverness Cntr Pky, #200 | Birmingham, Alabama 35242
To ensure delivery, please add 'submissions@lscu.com' to your email address book or Safe Sender List. If you are still having problems receiving our communications, see our white-listing page for more details.

To safely unsubscribe from this group, click here.
Home Action Center Contact Us CU Job Center Forward to a Friend Back Issues Twitter Facebook YouTube