June 2, 2014
Monday Edition
Matz questions trades' RBC cost estimates

NCUA Board Chairman Debbie Matz questioned trade association estimates of the cost of the proposed risk-based capital rule, saying the groups were disseminating misinformation.

“Some trade associations have estimated that the implementation costs could run as high as $7 billion. These overstated figures are based on a questionable assumption that every federally insured credit union would seek to maintain its current capital cushion above the regulatory minimum,” Matz wrote on Friday in response to a letter from Reps. Peter King (R-N.Y.) and Gregory Meeks (D-N.Y.), both members of the House Financial Services Committee.

The letter was signed by almost 75 percent of the House of Representatives.

“In reality, the decision whether to hold a capital cushion and how large that should be is a business decision that each credit union makes. I emphasize that the proposed rule does not require credit unions to maintain any specific capital cushion above the regulatory minimum standard for being well-capitalized,” Matz wrote.

Matz stressed that the measure of a credit union’s capital adequacy should not be based upon maintaining a targeted dollar amount above the regulatory minimum.

“Proper capital adequacy measurement should be much more granular and based on each credit union’s strategic plan and risk profile,” her letter said.

The lawmakers’ urged the NCUA to give credit unions additional time for implementation of the final rule. In response, Matz said she shares the same concern

Click here to read the full CU Times article.

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President's point

The third wave of the LSCU & Affiliates Cooperative Image Campaign is off and running. For the third campaign in four years, our contributions topped $1 million. Thank you to the 115 credit unions that have contributed. Thank you also to CUSC of Alabama and FCUSS for contributing money in each state to supplement the media buys. This year’s media buy is also twice as long as the media buys we’ve had in the past based largely on our emphasis this year on social media.

Visit the LSCU Cooperative Image Campaign webpage to see the media buys for each of the 13 media markets. When you look at them, you will see all kinds of online areas that credit unions will be in that they traditionally have not been. The YouTube videos, Pandora, Facebook, and Twitter should yield very good results. However, the mobile targeting, search engine marketing, and email marketing are new channels for the campaign. Just since the campaign last ran in 2012, mobile marketing has really exploded. This type of marketing can target people within a few miles of a credit union. It’s really innovative.

The campaign will run through July across both states. Once the campaign finishes up, we will begin measuring the impact. We do this three ways: The Southeast Institute of Research does independent research of consumers in Alabama and Florida, Google analytics for the betternameforbanking.com website and click through rates on the digital channels, and then we measure those against the Call Report data for the quarters where the campaign ran. The results will be shared with credit unions this fall.

While this campaign is running, we are already working on 2015. The creative we have right now--TV ads, radio ads, etc.--is still fresh since it hasn’t been over saturated. However, we are looking to add to that creative suite, especially online. We are looking at shareable online content and ways to expand our message. The new ideas should be available later in the summer. We will share those ideas with all of our credit unions as soon as we can.

Before we know it, budget season will be here. I ask that you make a note to add the Cooperative Image Campaign to your budget for next year. We didn’t fundraise this year because we didn’t use the contributions made in 2013. However, we will begin fundraising for 2015 later this year. The Cooperative Image Campaign is one we can all be proud of and it shows measurable results. For those that are not contributing, I ask that you look at the results this year and see how working together not only raises the image for our credit unions, but drives more consumers to join and begin using all of your services. 

Where’s Patrick: This week I will be preparing for the Southeast Credit Union Conference and Expo and our board meetings that will take place next week in Orlando. To see my tentative schedule for the next two weeks, click here.

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ComplySight offers customizable compliance solution

Compliance and regulatory burdens are crushing credit unions on a daily basis. Throw in new regulations that are adopted quickly, and a credit union can easily fall behind. The League of Southeastern Credit Unions & Affiliates (LSCU) is offering ComplySight which will help credit unions deal with the ever increasing compliance demands.

ComplySight, which is fee based, is a fully customizable, web-based compliance solution. Credit unions are able to match specific products and services that they offer so they can easily track the regulations on each one. Regulatory alerts are tailored to a credit union’s needs so the credit union is ensured that it remains in compliance, even with new and amended regulations. ComplySight also offers a grading tool to ensure a credit union’s compliance level is the highest possible.

“Easing the compliance and regulatory burden is always a top priority for credit unions,” said LSCU & Affiliates President/CEO Patrick La Pine. “By utilizing ComplySight, credit unions will stay up-to-date on regulations and significantly cut down on the time spent on compliance. Since ComplySight was created and is maintained by League InfoSight, we are able to offer this product well below what competitors charge."

What also makes ComplySight unique is a seamless integration into League InfoSight and PolicyPro, two value-of-membership programs that Alabama and Florida credit unions are already using on a regular basis. Once a credit union begins working with ComplySight, they can set up action steps to improve their compliance levels, set up program parameters, and print out regulatory and compliance reports. This will also help to ease the examination process.

“Once credit unions begin using ComplySight, they will see that is it literally a universal compliance management tool. This is very important since so many credit unions don’t have the staff to concentrate solely on compliance and regulations,” said La Pine.

The LSCU worked with League InfoSight and CUNA to be able to offer this affordable compliance solution. You can find more information on the LSCU ComplySight webpage.

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Seven steps to a great 2014 Southeast Credit Union Conference & Expo!

The Southeast Credit Union Conference & Expo is in less than two weeks! Check these items off the SCUCE "to-do" list to ensure you're not missing an opportunity to get the most out of this year's conference.

The At the Conference To-Do List:
1.    Register onsite in Med 2, just past rotunda (follow the signs)
2.    Review schedule-at-a-glance to ensure education session and exhibit hall times
3.    Check app for convention updates
4.    Make your visits with the exhibitors you planned to talk to during the exhibit hall hours
5.    Take pictures through app and share your SCUCE experience with everyone
6.    Use #2014SCUCE on Twitter and tag LSCU Facebook page with your pictures
7.    Network with your peers and exhibitors through various SCUCE events like the Dinner, Entertainment, & Silent Auction and the hotel lobby area

Haven't registered? There is still time and a chance win a full free SCUCE registration by being number 1007. Click here to register today!

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In This Issue
Monday Edition
Matz questions trades' RBC cost estimates
President's point
ComplySight offers customizable compliance solution
Seven steps to a great 2014 Southeast Credit Union Conference & Expo!
LSCU & Affiliates Media

2014 Alabama Cooperative Image Campaign Ad 
The LSCU Cooperative Image Campaign features a TV ad illustrating the credit union difference. Viewers are sent to www.betternameforbanking.com to learn more.

2014 Florida Cooperative Image Campaign Ad
The LSCU Cooperative Image Campaign features a TV ad illustrating the credit union difference. Viewers are sent to www.betternameforbanking.com to learn more.

Upcoming Event Deadlines
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
June 3 - Improving Teller Performance
June 4 - Recover Unauthorized ACH Withdrawals
June 6-13 - SE CUNA Management School
June 11-14 - Southeastern CU Conference
June 11 - CTR Report Line by Line
June 12Handling Difficult Members
June 17IRA Rollovers & Transfers
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