June 4, 2014
Wednesday Edition
Alabama primary yields few surprises

Tuesday night's primary elections in Alabama went as planned in nearly every race. There were very few surprises. LSCU endorsed candidate Paul DeMarco won the primary and will face Gary Palmer in the July 15 run-off election. DeMarco is a strong proponent of abolishing redundant and unnecessary regulations that have been plaguing credit unions and is a supporter of the credit union tax exemption. He is also an extremely loud supporter of small businesses in the state and wants to ensure they have access to the financial services they need in order to thrive in an ever increasingly competitive marketplace.

Incumbents Dominate other Congressional Primaries
Incumbent Congressional members cruised to victory in all of the other races in Alabama. Reps. Mike Rogers, Mo Brooks, and Terri Sewell each won their primary with at least 76 percent of the vote. You should expect all Alabama incumbents to continue to win re-election without much of a problem.

Statewide Elections Cause Little Excitement
Gov. Robert Bentley claimed 89 percent of the votes in his primary election. He will now face Democratic challenger Parker Griffith who won his primary. Gov. Bentley should have no problem winning re-election in November and serve another four year term.

Lt. Governor Kay Ivey defeated challenger Stan Cooke easily. She will now face Democrat James Fields in November and should not have too much of an issue gaining the right to preside over the Alabama Senate for four more years.

State Senate and House Primaries
There was cause for a little excitement in some of the State Senate Republican primaries in a couple areas of Alabama. Several incumbent Republican Senators were in tight races but in the end, all incumbent Republican Senators save one won their primaries. The one State Senator that will not be returning to Montgomery is Sen. Jerry Fielding (R-Sylacauga).  He was defeated by State Representative Jim McClendon 63 percent to 37 percent.  Fielding was elected as a Democrat four years ago and switched parties just before the last legislative session began.

In the House, five incumbent Republican Representatives were defeated in their primaries. Reps. Richard Baughn (HD 14), Wayne Johnson (HD 22), Bill Roberts (HD 13), Kurt Wallace (HD 42), and Charles Newton (HD 90) were all defeated in the Republican Primary. This is interesting to note as Democrats are doing what they can to break up the super majority in both the Alabama House and Senate. 

For the complete analysis, visit the LSCU Top Stories.

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Savings growth outpacing member growth

Ninety-five percent of the year-to-date increase in members’ savings balances has come from liquid accounts.

According to CUNA Mutual Group’s latest Credit Union Trends Report, savings were up $3.8 billion in March, the last month tracked, and are up $35 billion on a year-to-date basis.

However, the increases are not in line with the number of members joining credit unions.

“Given the exceptional membership gains, I expected stronger growth,” said David Colby, chief economist at CUNA Mutual.

Indeed, the 1.03 million member increase through March minimizes 2013’s YTD gain. However, last year was a record year for membership growth, Colby said.

Eighty percent of 2013’s membership increase came from the 328 largest credit unions, which is 4.9 percent of all credit unions, the data showed. Roughly 54 percent or 3,606 credit unions reported membership declines last year.

Meanwhile, looking at the YTD savings balance increase, 95 percent of the gain came from highly liquid accounts, according to the trends report.

Click here to read the complete Credit Union Times article.

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Don't miss the 2014 Governmental Affairs Luncheon at SCUCE

You won't want to miss the 2014 Governmental Affairs Luncheon at this year's Southeast Credit Union Conference & Expo. Associate editor and columnist at The Hill newspaper, A.B. Stoddard will speak and give key insights into the upcoming 2014 elections. There are some really interesting elections throughout the country, many in our own back yards, and Stoddard will give a great perspective on what Alabama and Florida credit unions can expect.

The luncheon will be June 12 from 11:30 a.m. to 1:00 p.m. on-site at the JW Marriott in the Mediterranean 6-7 rooms.

This is a separate ticketed event. Tickets for the luncheon are $65.00 and proceeds will go to the LSCU Federal Political Action Committee. All contributions must be individual contributions and not corporate contributions and are not tax deductible.

To register and pay for the luncheon, click here. This is a secure site and will accept your credit card or an electronic check. If you want to attend, but prefer to pay in person with cash, check, or credit card, email Jared Ross with your name, credit union, title, address, and telephone number so the GA team can secure your seat.

Tickets are limited - sign up today! Questions? Contact LSCU SVP, Association Services Jared Ross.

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Biz Kid$ campaign reaches 100 percent goal for CMNHs

Based on the generosity of credit union organizations, all 158 Children’s Miracle Network (CMN) Hospitals in the United States have been provided with entertaining financial education videos through the Emmy Award-winning TV show Biz Kid$.  The Southeastern Credit Union Foundation donated one boxed set to all nine CMN hospitals in Alabama and Florida. 

Over the past three months, leagues, state credit union foundations, chapters, and credit unions alike donated box sets of Biz Kid$ to their local CMN Hospital with CO-OP Financial Services underwriting half the cost. Biz Kid$ is the credit union funded public television series that teaches kids about money management and entrepreneurship.

Many of the families touched by Children’s Miracle Network hospitals face not only the biggest health issues of their lives but also the biggest financial challenges they’ve experienced.  Financially educating and supporting families in their biggest time of need exemplifies what the true credit union spirit embodies.

This is the result of a recent partnership between the National Credit Union Foundation (NCUF) and Credit Union for Kids (CU4Kids) to enhance the financial education opportunities for patients and families at CMN Hospitals. For a listing of all the credit union organizations who made Biz Kid$ DVD donations to their local CMN hospital click here.

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CCACU Conference Sept. 10-13

Join the Combined Council of America's Credit Unions (CCACU) for its annual conference "It's not about the journey, it's about the destination." The conference will be Sept. 10-13 at the Hyatt Regency Clearwater Beach Resort & Spa.

Click here to view the conference brochure and learn more about the speakers, sessions, and property at this year's CCUCA Conference. Credit unions with a heavy emphasis on the automotive industry are encouraged to attend.

Interested in attending? Click here to download the attendee registration form.

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In This Issue
Wednesday Edition
Alabama primary yields few surprises
Savings growth outpacing member growth
Don't miss the 2014 Governmental Affairs Luncheon at SCUCE
Biz Kid$ campaign reaches 100 percent goal for CMNHs
CCACU Conference Sept. 10-13
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
TODAY - 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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