June 26, 2014
Thursday Edition
CUNA attends White House update on housing reform

Housing reform was the topic as leaders of housing and financial institution trade groups--including the CUNA's interim President/CEO Bill Hampel--gathered at the White House Tuesday to discuss prospects for future action.

In the meeting with senior administration leaders, Hampel highlighted the increased friction that exists in the housing finance system, in part because of cumbersome Qualified Mortgage rules. Hampel noted that QM problems are driving up mortgage costs, while driving down availability, and encouraged policymakers to eliminate the frictions to ease mortgage credit availability.

Hampel said the meeting also addressed issues lenders are having with loan documentation, appraisals, and guarantee fees. He said the group noted a common desire for more training for financial institutions' examiners so they are able to more consistently support policy goals. 

For instance, it was noted that while policymakers in Washington are repeatedly calling for increased credit availability to help the economy get going again, that message has yet to be universally reflected in financial institutions' supervisory examinations.

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FFIEC launches cybersecurity resource page

The Federal Financial Institutions Examination Council (FFIEC) launched a cybersecurity website to serve as a general repository for current and future cybersecurity materials from the council. The page will contain links to joint statements from federal financial institution regulators, webinars, and other information for financial institutions.

The launch of the new site coincides with a pilot program at more than 500 community institutions to gather information compiled by state and federal regulators. The information is meant to assist regulators in assessing "how community financial institutions manage cybersecurity and their preparedness to mitigate increasing cyber risks," according to a statement released by the FFIEC.

The program also aims to help regulators make risk-informed decisions for more effective supervisory programs, guidance, and examiner training. Regulators will focus primarily on risk management and oversight, threat intelligence and collaboration, cybersecurity controls, service provider and vendor risk management, and cyber incident management and resilience.

Also this month, the FFIEC announced the formation of a new working group to promote critical infrastructure and cybersecurity coordination. The FFIEC Cybersecurity and Critical Infrastructure Working Group will enhance communication among FFIEC agencies and further coordinate with other entities such as the Financial Services Sector Coordinating Council, which includes CUNA and other financial industry members.

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Royce marks FCUA 80th anniversary with Congressional Record statement

Royce says in his statement that credit unions "are part of the great fabric that makes our country strong." He notes that credit unions are cooperatives--"bound together by a common set of business principles and values: voluntary membership; democratic control; economic participation; autonomy and independence; member education; cooperation among cooperatives; and concern for community." Royce is a member of the House Financial Services Committee and sponsor of a number of pro credit union bills.

Royce's statement recounts the creation and history of credit unions in the United States, and of CUNA, which was created after the signing of the FCUA credit unions recognized, Royce said, the "need for stronger national representation and unity." CUNA replaced an earlier entity known as the Credit Union National Extension Bureau.

To read the full story visit CUNA News Now.

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Throwback Thursday - Anniversary of Federal Credit Union Act

Today is the 80th Anniversary of the Federal Credit Union Act. Celebrate by sharing a special "Throwback Thursday" anniversary post on your favorite social media site.

Participating is easy. Post anything visual that you believe symbolizes your credit union's founding such as an old photo of an original branch or HQ, a copy of your charter, or even old newspaper clippings, and include the following hashtags: #throwbackthursday or #TBT AND #FCUA80. By using the hashtag #TBT AND #FCUA80 you can amplify the reach of each other's posts by sharing them.

Need ideas on what to write? Check out the sample posts below...

Sample Twitter and Instagram posts

  • 80 years of #CUDifference. Federal #CreditUnion Act signed into law 6/26/34 #TBT #FCUA80  PICTURE LINK
  • Today’s #creditunions are living examples of our values & commitments made to our members 80 yrs ago. #FCUA80 #TBT PICTURE LINK
  • #CreditUnions, 80 yrs of #PeopleHelpingPeople! #FCUA80 #TBT PICTURE LINK
  • Americans have chosen #CreditUnions as their preferred financial partner for the last 80 years! #TBT #FCUA80 #UniteForGood PICTURE LINK
  • Have you ever walked into a business where everyone knows your name? If you're a #CreditUnion member you have! #FCUA80 #100MM #TBT LINK

Sample Google+ and Facebook posts

  • If you’re looking for a financial institution to provide checking accounts (with no or lower fees), saving accounts (with higher returns), ATMs (free of surcharges), loans (with lower rates), and fewer (and lower) fees overall – a credit union is for you. Credit unions are not-for-profit, member-owned, financial cooperatives whose core mission is serving their members.  Our focus isn’t on returning money to shareholders like banks or catering to special interest groups.  Since the Federal Credit Union Act passed 80 years ago on June 26, 1934, credit unions were able to grow and thrive nationwide more efficiently while serving in the best interest of our members.  Members, share with us your best memories of membership!  What does your credit union mean to you?

  • Today, credit unions are living the promise our business principles and values made to our members 80 years ago through the Federal Credit Union Act. And [INSERT NAME OF CU] will continue to work to put our members and our community first. GIVE EXAMPLES AND LINK BACK TO WEBSITE OR POST PICTURES #PeopleHelpingPeople

  • The foundation for a strong credit union movement was set 80 years ago, on June 26, 1934, when President Franklin Roosevelt signed the Federal Credit Union Act into law, permitting credit unions to be formed anywhere in the US. Since that day, credit unions have developed considerably. Through the years, we’ve grown in membership as we’ve broadened our services to meet the needs of our members, from mortgage lending to education loans to digital banking. And we’re working together with credit unions around the country to create value-based decision-making; a clear departure from the big banks. #FCUA80 #TBT PICTURE OF ORIGINAL BRANCH/ LOCATION/ GROUNDBREAKING/ CHARTER

  • Today, nearly 100 million people choose to be members of credit unions and more than 6,700 independent, consumer-owned, volunteer-led, democratically controlled credit unions have the well-being of their members in mind every day. Why are you a credit union member? #FCUA80 #TBT PICTURE

Plus, don't forget to check out and share the League's 80th Anniversary posts on Facebook and Twitter.

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LEVERAGE partner Invest In America releases June newsletter

LEVERAGE strives to bring you partners that help your bottom line and offer additional benefits to your members. Through the partnership that LEVERAGE has with CU Solutions Group, Invest in America offers many member discounts and services.

Click here to view June's Invest in America Newsletter, and feel free to share the newsletter with your entire team.

June's issue includes the following:

•  Beginning Aug.1, 2014, Invest in America will become Love My Credit Union Rewards

•  Sprint and Omnilink partner to offer Credit Union Safety and Security

•  Members can save big when they move

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In This Issue
Thursday Edition
CUNA attends White House update on housing reform
FFIEC launches cybersecurity resource page
Royce marks FCUA 80th anniversary with Congressional Record statement
Throwback Thursday - Anniversary of Federal Credit Union Act
LEVERAGE partner Invest In America releases June newsletter
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
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 16 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
June 28 - July 2 - America's Credit Union Conference
July 1 -  Will AML/BSA/OFAC Meet Examiner Scrutiny?
July 2 - Consumer Loan Documentation
July 8 - Analysis of Financials & Ratios
July 9 - SAR Report Line by Line
July 13-16 - SE Regional Director's Conference
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