June 27, 2014
Friday Edition
First NCUA Listening Session brings some RBC answers

The NCUA clarified its stance on the proposed risk-based capital (RBC) rule during the first of three listening sessions. Held in downtown Los Angeles, the first session saw quite a few credit unions voice their concern about the rule. NCUA Chairman Debbie Matz said that "everything is on the table" concerning the rule. She also said that the agency hoped to have the next phase of the rule out by fall. 

Chairman Matz told the crowd that five asset classes would most likely see their risk reduced. Those would be: mortgages, MBLs, CUSOs, investments, and corporates. However, she did also say that every asset class will be reviewed. When asked about Congress expressing concern over the rule, Chairman Matz said that Congress likes the idea of a risk-based capital rule and thinks it is an effective regulatory tool. CUNA Vice President and Assistant General Counsel Mary Dunn agreed with the chairman, but also told the CU Times, "....it's also true the letters raised serious concerns about the rule."

It was also revealed during the session that the NCUA began looking at RBC two-and-a-half years ago when the agency was working out the problems of the corporate credit unions during the country's mortgage market meltdown. Chairman Matz said the NCUA was frustrated that some credit unions had greater risk than their capital covered.

The next NCUA Listening Sessions are in July in Chicago and Alexandria, VA. Both are sold out. The League will attend both and have a more complete wrap-up. Read CUNA's summary or coverage from the CU Times for more information.

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League hosts CU officials from Costa Rica

For the past three days the League of Southeastern Credit Unions & Affiliates has hosted credit union officials from the credit union league in Costa Rica (FEDEAC). 

The visit focused on lobbying and creating an effective, unified message which credit unions can bring to lawmakers. The League's governmental affairs team discussed how it interacts with the legislature on behalf of credit unions, how it organizes grassroots campaigns, and how it taps credit unions to assist in the lobby process.

The governmental affairs curriculum continued with a tour of Florida's Capitol, a meeting with Gov. Scott's director of legislative affairs, Darrick McGhee, and a discussion with the League's advocacy partners. 

During their visit the group also had the opportunity to meet with local credit unions Tallahassee-Leon FCU, Envision CU, and First Commerce CU to discuss technology, specifically mobile banking and remote deposit capture. 

The League welcomed the Costa Rica credit union officials with a cookout at the League's office giving staff and their families an opportunity to meet and welcome the group to the U.S. 

The visit was part of an international partnership LSCU & Affiliates has with FEDEAC, facilitated through the World Council of Credit Unions. Through that partnership, the League and FEDEAC host exchanges for credit union officials in both countries to travel and learn about the credit union environment and best practices of the other's country.

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'Selfies' via new website will help show the face of 100 million CU memberships

Collecting and displaying the faces of thousands, if not millions, of credit union members through "selfies," and to show the face of the credit union movement as it closes in on the milestone of 100 million memberships, is the aim of a new website unveiled today by CUNA and the state credit union leagues.

The website allows credit union members to upload their selfies--those ubiquitous photos or videos people take of themselves, typically with a smartphone or tablet--and post to the site. The pictures submitted will be posted to the website.

The website is part of CUNA's overall "100 Million Credit Union Memberships" campaign, aimed to draw attention to credit unions reaching the 100 million memberships mark later this summer.

"The strength of our movement is the people who own it and benefit from it," said CUNA Interim President/CEO Bill Hampel. "In advance of reaching the 100 million membership mark, we want as many people as possible to understand and see the strength of our movement through the faces of our membership."

To upload a video or photo, just visit the website, fill out the form, upload from your computer (or via social media), and submit.
Social media can also be used by members to share submitted selfies with the hashtag #100MM on Google+, Facebook, Instagram, and Twitter. Doing so, CUNA's Hampel said, can additionally demonstrate the power of the credit union movement online and on social media.

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CU happenings

Space Coast Credit Union relocates two branch locations in Volusia County
Space Coast Credit Union, headquartered in Melbourne, FL, broke ground on the location for its new Port Orange East Branch at 1788 Dunlawton Avenue. The occasion was celebrated with a ground breaking ceremony on May 15, 2014. The new branch is relocating from 3863 Nova Road and it is expected to open for business later this winter. On May 19, SCCU also relocated its Ormond Beach branch from a store front location at 1185 W Granada Blvd Suite 3 to a full-service branch with drive-thru at 1185 W Granada Blvd Suite 10A in Ormond Beach.

121 Financial Credit Union partners with teen financial blogger Eva Baker to reach out to the youth market
In order to help educate the youth market on the benefits of using credit unions, 121 Financial Credit Union, located throughout Northeast Florida, has teamed up with teen financial blogger Eva Baker. Baker, who is a 17-year-old residing in Jacksonville, has established a popular website, TeensGotCents.com, that offers free financial information for young people. She also has an eBook, "7 Days to Centsible Savings," which is available on her website. The financial site gets approximately 3,000 hits a month. Topics covered on the site include saving for college so you won't need a student loan; saving money for purchases like clothes or a car; and ways for kids to earn money.

Jetstream Federal Credit Union sponsors donation drive benefiting His House Children's Home and the Susan B. Anthony Recovery Center
JetStream Federal Credit Union, located in South Florida, sponsored an employee donation drive and collected clothing and pajamas to benefit His House Children's Home and the Susan B. Anthony Recovery Center. JetStream donated new pajamas for the children and teenagers arriving at His House this year. Each incoming child will receive a duffel bag containing essential grooming products, clothing, and pajamas. In addition, JetStream also collected clothing for the women and children who are currently receiving treatment at the Susan B. Anthony Recovery Center in Pembroke Pines, FL. The items donated included women's work attire, shoes, and children's clothes.

Something worth dancing about

In case you can't tell from the photo, the result of the Second Annual Jacksonville Dance Marathon was something worth dancing about. Last weekend's event raised a total of $20,369 including Miracle Match contributions for the pediatric programs at Wolfson Children's Hospital and UF Health Jacksonville. The Second Annual Jacksonville Dance Marathon was hosted by the Northeast Florida Chapter of Credit Unions' Young Professionals Group (pictured above in blue) and the local CMN Hospitals Young Professionals Group, the Miracle Board (pictured above in white).

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In This Issue
Friday Edition
First NCUA Listening Session brings some RBC answers
League hosts CU officials from Costa Rica
'Selfies' via new website will help show the face of 100 million CU memberships
CU happenings
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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