June 5, 2014
Thursday Edition
Johnson, Crapo urge 'well-calibrated' RBC final rule

The leadership of the Senate Banking Committee has asked federal credit union regulators to carefully consider any negative impact their risk-based capital proposal could have on credit unions' agricultural lending and on their ability to raise and maintain certain capital levels.
 
Sens. Tim Johnson (D-S.D.), the banking panel's chair, and Mike Crapo (R-ID), its ranking Republican member, were addressing the NCUA's plan that would replace existing risk-based net worth requirements with new risk-weighted asset and capital requirements.  The rule, issued for comment in January, would apply to federally insured "natural person" credit unions with more than $50 million in assets.

In a response sent last Friday to 324 members of Congress who voiced concerns regarding the RBC proposal, NCUA Chair Debbie Matz indicated some of the areas in which the agency will consider changes. She noted that risk-weights, implementation time, and the proposal's impact on credit markets were among issues the regulators would review carefully moving forward.  

Click here for the complete article from CUNA News Now

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Sam's Club to issue MasterCard-Branded card with security chip

The Wall Street Journal is reporting that Sam's Club, the warehouse-club chain owned by Wal-Mart Stores Inc., said it would unveil a new credit card that features chip-enabled security technology.

The new card—co-branded with MasterCard Inc. and issued by GE Capital Retail Bank—represents the first active adoption of the technology by a mass retailer, Sam's Club said.

MasterCard and rival Visa Inc. said in March they would form a group to accelerate the adoption of advanced computer chip technology, known as EMV, which is intended to make it more difficult for thieves to duplicate. The companies said then that the group would include banks, credit unions, merchant processors, makers of payment terminals and industry trade associations.

The companies have set an October 2015 deadline for retailers to adopt the technology more broadly, although the National Retail Federation has questioned the return on investment to update payment systems with EMV technology. The group has said it agrees that cards using both PIN- and chip-based technologies represent an improvement in data security, but it thinks retailers will upgrade at their own pace.

"This move by Sam's Club makes them a trailblazer in getting chip cards in the hands of businesses and consumers, and leading the push toward a safer and more secure customer experience," Chris McWilton, MasterCard's North American president, said Tuesday night. "This will no doubt help drive chip-enabled technology forward here in the U.S. as it gains more traction."

The new card, along with a new rewards program linked to it, will become available June 23, Sam's Club said.

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Winner of the SCUCE 1007 contest announced - plus, one more chance to win

Heath Harrell, CEO of Guardian Credit Union in Montgomery AL, is the winner of the League's 1,007 registration contest. As the contest winner, Heath will attend the Southeast Credit Union Conference & Expo for free. Congratulation Heath! 

As registrations continue to roll in and in celebration of this year's theme “Living the Seven Cooperative Principles the Credit Union Way,” the League is offering one more chance to win. The 1,057 person to register for this year's conference will attend for free. Registration numbers are getting close, so register today, and you could attend the Southeast Credit Union Conference & Expo for free. Good luck!

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Still time to submit items for the 2014 Silent Aution

The Southeast Credit Union Conference & Expo, formerly the LSCU AC&E, is still accepting items for this year's Silent Auction. To participate just bring your donation(s) with you to the Southeast Credit Union Conference & Expo and turn them in at the registration desk by noon on Thursday.

Click here for the Silent Auction donation form, or for more information contact LSCU Governmental Affairs Specialist Jordan Burroughs at 866.231.0545 x1008.

Below are some items that have already been donated to this year's Silent Auction. Be sure to continue to check the LSCU Facebook page to see items as they are donated.



Look for the iPad Mini in this year's SCUCE Silent Auction courtesy of GTE Financial in Tampa.


If you love to yell "Roll Tide," you'll love this donation to the SCUCE Silent Auction from Alabama Credit Union.

 

Family Savings Credit Union donated this turquoise Brighton jewelry set. It comes in the heart-shaped, flower-covered tin.



LEVERAGE has donated a PS4. Place your bid on it at this year's Silent Auction. 

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In This Issue
Thursday Edition
Johnson, Crapo urge 'well-calibrated' RBC final rule
Sam's Club to issue MasterCard-Branded card with security chip
Winner of the SCUCE 1007 contest announced - plus, one more chance to win
Still time to submit items for the 2014 Silent Aution
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 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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