May 7, 2014
Wednesday Edition
U.S. House passes three regulatory relief bills

The U.S. House used a voice vote to pass three regulatory relief bills; two of which were specifically for credit unions. These bills are significant progress for credit unions and all three were pushed by the League and CUNA. It's also significant considering not many bills are being passed in Congress right now.

"They passed the House on their own merits, not as part of a big roundup of many stakeholders' legislative agendas. Credit unions, the state credit union associations, and CUNA have taken their regulatory burden story to Capitol Hill, and federal lawmakers are listening to us," said CUNA EVP of Governmental Affairs John Magill. 

  Here's a closer look at the bills:

  • H.R. 3584, the Capital Access for Small Community Financial Institutions Act, introduced by Reps. Steve Stivers (R-OH) and Joyce Beatty (D-OH). This bill corrects a drafting error in the Federal Home Loan Bank (FHLB) Act thereby allowing state-chartered, privately insured credit unions to join the FHLB system.
  • The Community Institution Mortgage Relief Act (H.R.  3468). Reps. Ed Royce (R-CA.) and Ed Perlmutter (D-CO) introduced this bill to provide National Credit Union Share Insurance Fund (NCUSIF) coverage for trust accounts, such as Interest on Lawyer Trust Accounts (IOLTAS) and other similar accounts.
  • H.R. 2672, which grants credit unions and other lenders greater input into rural-area designations made by the Consumer Financial Protection Bureau. The rural county designations determined by regulators can impact the types of products credit unions may offer their members in those areas.


When bills are considered under suspension of House rules, it dictates that no amendments can be added during the consideration process and the bills must have enough lawmakers support to pass by a two-thirds vote. The Senate will now consider these bills. If adopted, they would move on to Pres. Obama's desk to be signed into law.

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Florida Credit Union Association - 2014 session wrap-up

Last Friday, May 2, the 2014 Florida Legislative Session came to an end as the House and Senate concluded its business and adjourned Sine Die. Each year nearly 2,000 bills are filed and less than 15 percent of those bills actually pass. This year was no different.

In this session, 1,812 bills were filed by the legislature and 258 passed both the House and Senate identically and head to the governor's desk. Only 14 percent of all bills filed will actually make it to the governor for executive action. Among the small amount of bills that passed were some important items for credit unions. A report on these bills was sent Monday, which can be read here.

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New board members announced for LSCU & Affiliates

The LSCU & Affiliates completed the election process for 2014 and have filled five open board seats for the LSCU board of directors. The five include two incumbents and three new board members from Florida. The designated agent, Michael Carter, CPA of Carr, Riggs & Ingram, LLC, reviewed the candidate nomination and certification forms for rules and bylaw compliance and certified the eligibility of the candidates for the LSCU board.

In accordance with the LSCU Board of Directors Election Rules and Procedures, since there was only one certified nomination for each membership category seat, the designated agent, Mr. Carter, declared the certified nominees elected by acclamation. The five winning candidates are below:

  • Alabama Class B Seat - Tina Williams, Mobile Educators CU
  • Alabama Class D Seat - Brad Green, Listerhill CU
  • Florida Class A Seat (Two-Year Term) - Jerry Bolduc, Monroe County Teachers FCU
  • Florida Class B Seat - Mary Ott Wood, Florida West Coast CU
  • Florida Class C Seat - Caryl Greene, Members First CU of Florida

New to the board are Brad Green, who has served as a LEVERAGE director since 2010, Caryl Greene who has also served as a LEVERAGE director since 2012,  and Jerry Bolduc. He assumes the seat that will be vacated by Leianne Harden midway through her term; the other four seats are four-year terms. All five will become official members of the board following the LSCU Annual Business Meeting in June during the Southeast Credit Union Conference and Expo.

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Deadline for SCUCE group hotel room rate extended for JW Marriott and Ritz Carlton

In order to get the discounted room rate at the SCUCE hotels, make your hotel reservation by:

  • May 16 for the JW Marriott
  • May 9 for the Ritz Carlton

Be sure to make your reservation by those dates! Rooms can not be guaranteed the discounted room rate after the date has passed. It is better to go ahead and make your reservations since rooms can be canceled up to 72 hours prior without a penalty.

Visit the SCUCE Hotel Information webpage for more information.

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AL and FL credit union professionals graduate from CUDE training

Buddy Sutter from Jefferson Credit Union in Hoover, AL and April Ales from the LSCU & Affiliates were among the 43 credit union professionals who became Credit Union Development Educators (CUDEs) last week. Sutter and Ales received their certification after being guided by eight dedicated program facilitators and mentors through the intensive Credit Union Development Education (DE) Training from the National Credit Union Foundation (NCUF). The Spring DE training was held April 23-30, 2014 at the Lowell Center on the University of Wisconsin campus in Madison.

If you are interested in becoming a Credit Union Development Educator registration is still open for the fall DE training, Sept. 10-17 at the Lowell Center in Madison. Click here for registration and program information.

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In This Issue
Wednesday Edition
U.S. House passes three regulatory relief bills
Florida Credit Union Association - 2014 session wrap-up
New board members announced for LSCU & Affiliates
Deadline for SCUCE group hotel room rate extended for JW Marriott and Ritz Carlton
AL and FL credit union professionals graduate from CUDE training
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
TODAY - 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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