May 5, 2014
Monday Edition
Alabama Credit Union Association endorses DeMarco

The Alabama Credit Union Association, an affiliate of the League of Southeastern Credit Unions & Affiliates (LSCU), is endorsing Republican Paul DeMarco for Alabama’s Sixth Congressional District. DeMarco, currently in the Alabama House representing the 46th District, is one of seven candidates vying for the Republican party nomination for the seat currently held by Rep. Spencer Bachus (R) who announced his retirement at the conclusion of 2014.

On various occasions, DeMarco has expressed his support for the credit union tax exemption. He is in favor of decreasing regulatory burden under the Dodd-Frank Act and the Consumer Financial Protection Bureau (CFPB). The Alabama Credit Union Association sent a candidate questionnaire to each of the candidates for the District 6 primary and DeMarco reiterated his credit union support on the questionnaire.

“Paul DeMarco has been a credit union supporter while in the Alabama House,” said LSCU & Affiliates President/CEO Patrick La Pine. “He meets with credit unions and attends our legislative nights. Rep. Bachus has held an important seat during his 21 years in Congress. It’s important that credit unions keep someone in District 6 that understands the issues credit unions are facing.”

“Having the endorsement of the credit unions means a lot to me,” said DeMarco. “Credit unions mirror their communities. They are local, focused on helping Alabama’s consumers get credit and they put in many hours of community service. We need to make sure the regulatory environment is one that helps small businesses like credit unions and not weigh them down.”

DeMarco has been a member of the State House since 2005 and re-elected twice. He is chairman of the House Judiciary Committee and in House leadership. He graduated from Auburn and received a law degree from the University Of Alabama School Of Law.

The Republican primary will be June 3 with the winner moving on to face Democrat Avery Vise in November’s general election.

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President's point

I finally was able to do something last week that I had wanted to do for quite some time; attend the Executive Leadership Florida program. This is a unique program for CEOs of companies that have statewide responsibilities or for CEOs and top executives that are new to the state of Florida. For two-and-a-half days, 25 of us learned about Florida’s history, economy, and political landscape, as well as other pressing issues of importance to the state. It was a very worthwhile event.

One thing I was surprised at right away is that I knew more about the state than I thought I did. The program looked at state demographics, the state’s budget, and many of the major issues facing Florida like economic growth, workforce issues, and clean water. We were given presentations on the changing dynamics of the state, disruptive demographics, our role in changing our community and our state, as well as a look at a different approach to economic development. It was a lot of good information to process.

The most beneficial part of the program to me was the networking opportunities. I spent some time with all of my classmates. Former U.S. Senator George LeMieux, who is now the chairman of Gunster Law firm, attended, and I enjoyed talking with him. I also talked to my classmates about the financial literacy bill that we hope to get passed in 2015. They all agree that this is much needed and beneficial. This is a group that I know I will keep in touch with in the future.  

The League began a relationship with Leadership Florida back in 2012 when it helped to sponsor the U.S. Senate debate between Bill Nelson and Connie Mack. This year we are sponsoring their gubernatorial debate on Oct. 15 at the Broward Community College in Davie. The sponsorship this year will utilize the Florida Credit Union Association brand and the Image Campaign TV ad. Florida’s credit unions will be in front of more than four million people and in all of the media coverage. Plus, it will be one of the most watched races in the country. Great exposure for our credit unions.

I highly recommend any new credit union CEO, especially those new to Florida, to take part in the program. It really shows you how you can better integrate into the business community in the state. Once you go through a Leadership Florida program you will probably have the same reaction I did, “How can I do more with them?” I hope to take part in more of their activities. This is a great organization that is doing their part to move Florida forward. That lines up well with what our credit unions are doing. 

Where’s Patrick: As you read this, I’m in Seattle for the National Credit Union Roundtable. I will update you on some of the conversations we had in next week’s President’s Point. To see my tentative schedule for the next two weeks, click here.

To see the President's Quarterly video, check out the LSCU YouTube Channel.

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Wallet Hub presents a 2014 Banking Landscape Report

In its Q1 2014 Banking Landscape Report, Wallet Hub has analyzed the fees, features, and rates associated with more than 1,900 checking accounts, savings accounts, money market accounts, and CDs from financial institutions both big and small, both online and brick-and-mortar, and both shareholder- and member-owned.

Find out where your credit union ranks, click here to view the 2014 report.

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LSCU Young Professionals Group Meet-Up May 6

If you're a young credit union professional in the Tallahassee area, the League of Southeastern Credit Unions (LSCU) invites you to attend the inaugural YPG Meet-Up at Envison Credit Union (440 N. Monroe St., Tallahassee) on May 6 at 6 p.m. Come to network with peers and learn more about the League's Young Professional Group initiative as well as fundraising events. A light dinner will be provided.

RSVP to Ryan O'Connor by Monday (today), May 5.

For more info on how you can join the 196 members of the League's Young Professional Group, click here.

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In This Issue
Monday Edition
Alabama Credit Union Association endorses DeMarco
President's point
Wallet Hub presents a 2014 Banking Landscape Report
LSCU Young Professionals Group Meet-Up May 6
LSCU & Affiliates Media

Risk-Based Capital Presentation
The League is holding risk-based capital meetings across both states ahead of the May 28 NCUA comment due date. This presentation is perfect to show to staff and boards.

Florida Financial Literacy Bill
In 2014, the Florida Legislature considered HB 367 and SB 212 which would require a half credit of financial literacy to graduate. Bill sponsors Sen. Dorothy Hukill and Rep. Heather Fitzenhagen talk about its need and how credit unions can help.

Upcoming Event Deadlines
May 19 Last Day to Register - LSCU Disaster Recovery Conference - Mobile, AL
May 19 Last Day to Register -  LSCU OFAC/BSA Basic & Advanced School - Birmingham, AL
May 21 Last Day to Register - LSCU Disaster Recovery Conference - Jacksonville, FL
June 18 Last Day for Early Bird Rate – LSCU BSA Essentials & Advanced Workshops – Mobile, AL
June 18 Last Day for Early Bird Rate – LSCU BSA Essentials & Advanced Workshops – Huntsville, AL
July 1 Last Day for Early Bird Rate – Southeast Supervisory Committee Conference – Point Clear, AL
July 15 Last Day to Register - LSCU BSA Essentials & Advanced Workshops - Mobile, AL
July 15 Last Day to Register - LSCU BSA Essentials & Advanced Workshops - Huntsville, AL
Upcoming League Events
May 6 - Call Reports: Interpreting Changes
May 7 - ACH Challenges for RDFIs
May 13 - SAS Credit Union Conference
May 13 - Board vs Supervisory Responsibilities
May 14 - Auditing Your Loan Portfolio
May 15 - How to Avoid Lender Liability Claims
May 20 - Disaster Recovery Conference, Mobile AL
May 20 - OFAC & BSA Basic & Advanced School, Birmingham, AL
May 20 - New ACH Security Requirements
May 21 - OFAC & BSA Basic & Advanced School, Birmingham, AL
May 21 - Increasing Regulatory Requirements
May 22 - Disaster Recovery Conf, Jacksonville FL
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