June 18, 2014
Wednesday Edition
League joins Gov. Bentley for ceremonial bill signing of the Alabama Credit Union Act

The League, along with representatives from several of Alabama's state chartered credit unions and Sarah Moore, the new head of the Alabama Credit Union Administration, joined Gov. Robert Bentley for a ceremonial bill signing at Alabama's Historic State Capitol. The signing took place in the Old House Chamber. Bentley, who had officially signed the legislation updating the Alabama Credit Union Act back in April, thanked credit unions for their help in passing this important legislation. HB 165 by Rep. Greg Wren (R-Montgomery) and Sen. Slade Blackwell (R-Mountain Brook) was a much needed update to the Act and was the first piece of stand alone credit union legislation passed in Alabama in more than two decades.

 
Left to right: Steve Swofford, president/CEO of Alabama CU (LSCU Board Chairman); Greg McClellan, president/CEO of MAX CU; Merrill Mann, president/CEO of APCO Employees Credit Union; Chris Gerety. general counsel, APCO Employees CU; Gov. Robert Bentley; Jared Ross, SVP association services, LSCU; Sarah Moore, administrator, Alabama Credit Union Administration; D.G. Markwell, EVP marketing, MAX CU; Kim Adams, lobbyist; Jason Cochran, director of governmental affairs - AL, LSCU.

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House Ways and Means' Paulsen pens concerns regarding NCUA RBC plan

Paulsen said 84 percent of Minnesota credit unions that would be affected by the NCUA proposal would see their cushions above the well-capitalized level shrink, and almost 9 percent would fall from well-capitalized to the lower adequately capitalized ranking. The lawmaker from Minnesota went on to warn that many credit unions would have to raise capital in order to comply with the proposed rule--and that the situation could be tough on consumers as well.

"Because of credit unions' limited avenues for raising capital, it is likely this proposal would force them to charge higher lending and financial services fees and reduce dividend payments to members," he wrote in a letter to the NCUA chair.

Reflecting the concerns of others on Capitol Hill, Paulsen also asked the federal credit union regulator to review the proposed risk-weight calibrations carried in the proposal and to explain why some are "considerably higher" than those applied to banks. He also urged the NCUA to adopt a longer implementation period than the 18 months currently proposed.

Paulsen's letter joins a long and growing list from federal lawmakers who are informing the NCUA of their concerns about the RBC plan, as written. The NCUA has already received are a record number of comments on the proposal--in excess of 2,050. Those from Capitol Hill include one co-signed by 324 House members, and others by current and former U.S. senators. 

Visit CUNA News Now for the full story.

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Image campaign ad surpasses 100,000 YouTube views

The number of consumers seeing the LSCU Cooperative Image Campaign ads on YouTube has surpassed 100,000 views. To put this number in perspective, the last time the campaign ran in 2012, the ads got 96,000 views in five weeks. This year, the 100,000 plateau was passed in less than three weeks; with seven more weeks to go. More consumers are seeing the ads and wanting to learn more about credit unions.

Credit unions that have contributed to the campaign are encouraged to send the ads out through their social media channels, place on their website and inside their lobbies. The more times the consumer sees the ad, the more likely they are to want to learn more about the campaign.

The other elements of the campaign are going strong. The online impressions are very high through Pandora, search engine marketing, mobile geo-targeting, and online behavioral targeting. Plus, many people have been getting in touch with the League saying they have seen the ads on TV, heard them on the radio or seen them online. You can see the media buys for your area on the LSCU Cooperative Image Campaign webpage.

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First Africa Development Education Training

The Africa DE program was inspired and co-created by four African graduates of NCUF’s DE Training in the last few years (otherwise known as CUDEs). The program was primarily convened and led by George Ombado from the African Confederation of Cooperative Savings & Credit Associations (ACCOSCA) in Kenya with assistance from Victor Botha from the Sibanye Cape SACCO Ltd in South Africa, Sylvester Kadzola from the Malawi Union of Savings & Credit Cooperatives in Malawi, and Elkanah Odembo from the World Council of Credit Unions in Kenya.

“It is amazing to see the ripple effect of NCUF’s DE Program to strengthen credit unions around the world, particularly with this new DE Program in Africa,” said Lois Kitsch, NCUF Program Director and co-facilitator of Africa DE. “Not only did George and others bring lessons learned around credit union and cooperative values back to their respective organizations after completing NCUF’s DE Program, but now they helped instill it in others throughout Africa, who will do the same at their organizations.”

This first Africa DE Program joins seven other international DE programs, which are based in Asia, Australia, the Caribbean, Europe, Great Britain, the Philippines, and the United States. They too, were all started by graduates of the NCUF program.

Registration is still open for the next 2014 DE training, which will be held September 10-17, 2014 at the Lowell Center in Madison, Wis. Click here for registration and more information.

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Veri-Tax webinar tomorrow

Learn more how LEVERAGE partner Veri-Tax can help your credit union meet CFPB's increased requirements for compliance and fraud detection. Register to attend tomorrow's free informational webinar today. 

Can't make it to tomorrow's webinar? There are three more opportunities to attend:

For additional details on Veri-Tax's suite of verification services, click here. To discuss the program with your local LEVERAGE Business Development Consultant, click here.

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In This Issue
Wednesday Edition
League joins Gov. Bentley for ceremonial bill signing of the Alabama Credit Union Act
House Ways and Means' Paulsen pens concerns regarding NCUA RBC plan
Image campaign ad surpasses 100,000 YouTube views
First Africa Development Education Training
Veri-Tax webinar tomorrow
LSCU & Affiliates Media

Contract Management
LEVERAGE has a contract management solution that is web based and easy for your credit union to stay on top of all of the credit union's various contracts.

Southeastern Credit Union Foundation
The Southeastern Credit Union Foundation works hard for Alabama and Florida credit unions. The foundation offers five pillars: financial education, professional development, disaster relief, fundraising, and the credit union philosophy. This video gives a better explanation to what the foundation offers credit unions.

Upcoming Event Deadlines
TODAY Last Day for Early Bird Rate – LSCU BSA Essentials & Advanced Workshops – Mobile, AL
TODAY 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
Aug. 1 Last Day to Register - Southeast Supervisory Committee Conference - Point Clear, AL
Aug. 5 Last Day for Early Bird Rate – LSCU Fall Regulatory Compliance Update – Tallahassee, FL
Aug. 7 Last Day for Early Bird Rate -  LSCU Fall Regulatory Compliance Update – Birmingham, AL
Upcoming League Events
TODAY - Regulatory Compliance for Frontline
June 19 - Improve CU Profitability
June 24 - Reg E & Debt Card Error Resolution
June 25 - Mobile Remote Deposit Capture
June 28 - July 2 - America's Credit Union Conference
July 1 -  Will AML/BSA/OFAC Meet Examiner Scrutiny?
July 2 - Consumer Loan Documentation
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