April 24, 2014
Thursday Edition
White House reps meet with CUNA on GSE reform

The exclusive meeting held by the White House with CUNA was one of a series scheduled with top financial industry trade associations and other key stakeholders. These White House meetings are being held in advance of a scheduled April 29 markup by the Senate Banking Committee of its extensive housing finance reform bill.

The Tuesday meeting involved members of the White House Interagency GSE Reform Working Group.

CUNA underscored at the meeting that the top three issues for credit unions are:

  • The bill's regulatory burden on credit unions.
  • Ensuring that the housing finance market remains accessible to credit unions and other smaller institutions.
  • Giving credit unions representation in governance of the new federal entities envisioned under the proposal.

CUNA reminded that restructuring the system is "unchartered and untested" territory and therefore raises numerous questions regarding fees and functionality when applied to the real-world marketplace.

Representing CUNA at the meeting were President/CEO Bill Cheney, Chief Economist Bill Hampel, General Counsel Eric Richard, Deputy General Counsel Mary Dunn, Senior Vice President of Legislative Affairs Ryan Donovan, and Assistant General Counsel for Special Projects Robin Cook joined in the meeting.

To read the full story visit CUNA News Now.

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Don't forget to get your call reports in by tomorrow's deadline

Call report filers that miss the April 25 deadline could be fined up to $1 million per day by the NCUA, according to the regulator.

A letter from Chairman Debbie Matz stated that figure is a worst case scenario, but illustrates the agency is serious about cracking down on late filers. Matz said more than 1,000 federally insured credit unions of all sizes filed call reports late for the third quarter 2013.

"Such late filing impacts NCUA's ability to conduct effective off-site supervision and delays the release of quarterly industry data to the general public," Matz said. "It is also a drain on NCUA resources, as field examiners are required to follow-up with tardy FCUs."

The NCUA will begin to exercise its authority to impose civil money penalties against federally insured credit unions that miss call report filing deadlines beginning April 25.

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Make plans to attend the SRCUS Directors' Conference today

The Southeast Regional Directors’ Conference (SRCUS) July 13-16 in Savannah, GA features a full range of informative educational sessions that provide a conduit for learning about critical issues important to today’s ever-changing financial industry. First-rate speakers will cover topics on the economy, lending environment, and much more.

Who should attend? Credit union directors and committee members.

A complete agenda for the conference, as well as the hotel and registration information can be viewed in the conference brochure.

Questions? Contact LSCU Director, Conferences Julianne Talley at 866.231.0545, ext. 1148.

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NCUA Financial Literacy Twitter Chat

Using the hashtag #NCUAChat, the NCUA held a financial literacy conversation on Twitter on Wednesday. The NCUA was able to show the resources it has available on financial literacy, while credit unions and leagues pointed out what they are doing, especially in April since it's Financial Literacy Month, and how they are reaching their members. 

Here's some of the conversation:

Follow Wednesday's conversations by logging on to Twitter and searching the hashtag #NCUAChat. If you are providing financial literacy, drop the NCUA a tweet on Twitter.

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Three more speakers added to Think 14 Conference

This year's THINK 14 Conference, May 19-22, 2014, in New Orleans, is working under the theme “It Starts With You.” THINK 14 speakers will tackle issues that everyone who works at a credit union can take a part in solving. These issues include: living the promise, consumer experience, examining the business model, and leadership, attitude, and talent.

The final additions to THINK 14’s line-up of featured speakers are:

  • Welby Altidor, director of creation for Cirque du Soleil, the Canada-based dramatic circus and street entertainment company. His first major project was Michael Jackson ONE, currently at the Mandalay Bay in Las Vegas. Altidor will speak on “Living the Promise.”
  • Ivan Askwith, a consultant specializing in strategic planning and experience design for digital platforms and online communities. Askwith’s background includes working with the George Lucas companies, Lucasfilm and Industrial Light & Magic. Askwith’s case study will focus on “Examining the Business Model.”
  • Susan Cantrell, a research fellow at Accenture Institute for High Performance Business, and coauthor of “Workforce of One: Revolutionizing Talent Management Through Customization” (2010). She will speak on “Leadership, Attitude and Talent.”

“The credit union movement must adapt to a changing consumer and competitive environment, and so the THINK 14 conference will be covering innovations in service, technology and branding,” said Stan Hollen, president/CEO, CO-OP Financial Services, the conference sponsor. “The three new speakers will be instrumental in helping us achieve our goal of making sure the audience comes away with practical, actionable initiatives that can be implemented at their credit unions.”

For more information and/or to register click here.

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In This Issue
Thursday Edition
White House reps meet with CUNA on GSE reform
Don't forget to get your call reports in by tomorrow's deadline
Make plans to attend the SRCUS Directors' Conference today
NCUA Financial Literacy Twitter Chat
Three more speakers added to Think 14 Conference
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 – Disaster Recovery Conference – Jacksonville, FL

May 2 Last Day for Early Bird Rate – SAS Credit Union Conference - Tallahassee, FL
Upcoming League Events
TODAY - Risk Based Capital Meeting in Huntsville
TODAY - BSA Officer Duties & Update
TODAY - 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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