July 7, 2014
Monday Edition
Confidence in banks remains low

A June 26 Gallup Poll report revealed that just 26 percent of Americans have a “great deal” or “quite a lot” of confidence in banks, far below a pre-recession level of 41 percent -- however it is up some from lows in the midst of the recession. Although a different question, that’s a sharp contrast to the more than 90 percent of credit union members who report being satisfied with their credit union.

The report also had a note that small business was among the institutions earning the highest public confidence this year, at 62 percent, while big business remained near the bottom of the list at 21 percent.

Gallup says that few Americans have expressed confidence in big business since they began asking about it in 1973, with the percentage who have a great deal or quite a lot of confidence never exceeding 35 percent. Meanwhile, confidence in small business has consistently been more than 55 percent.

That’s good food for thought as credit unions continue to push forward on their shared vision and emphasize the local, main street values credit unions represent. Click here for more Gallup data.

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President's point

Credit unions have a major milestone on the horizon. It’s expected that sometime this summer the U.S. credit union movement will reach 100 million members. CUNA and state leagues are working together with credit unions to commemorate this achievement and to also put a face to the credit union movement. The 100 Million Membership Campaign is looking for 100 million “selfies;” which are pictures taken, usually with smartphones. These “selfies” can be uploaded to the America’s Credit Union website with a short write up. It’s a good way to show what the credit union movement looks like America. However, this is much more than just a marketing campaign.

Over the past seven or eight years, you’ve heard about the collective strength of the credit union movement. We also know for a fact that many credit union members are willing to go to bat for their credit union on important issues like taxation. Not many others in the financial services industry can say that. So, one thing the credit union movement realized during “Don’t Tax My Credit Union” last year is how effective social media can be. The specific social media days were very successful and more than once showed up on Twitter trending feeds as one of the top posts for the day.

Social media can be a real game changer for credit unions in communicating with their members and reaching potential new members. We’ve seen the strength in the past when we all work together on a project. The 100 Million Member Campaign can be the next progression. It puts a face on your service and the relationships you’ve built. It shows how you’ve helped your members and how much they love their local credit union. Looking at some of the early selfies on the website shows great stories like getting a first home loan, providing financial advice, or how the members feel their credit union is a trusted advisor and partner. These are great stories; the type of stories that have an impact on potential members. This idea really adds power to the movement.

As we get closer to reaching the 100 million member milestone, I ask that your credit union take part in the program. Set up an area where people can take selfies. Encourage members after their transactions to take selfies and teach them how to upload them. Remember, you can tag your local lawmakers with your post or even post the pictures to their social media channels. This will put faces to their constituents, as well as show them how many credit union members are in their district. They pay attention to these types of things.

As you can see, the 100 Million Member Campaign has far-reaching potential. It’s incumbent on all of us to take part. The selfies should be uploaded with the hashtag #100MM on Google+, Facebook, Instagram, and Twitter. Let’s work together to show our strength in numbers while showing consumers why they should join a credit union.  

Where’s Patrick: This week I will be working in Birmingham, but also attending the NCUA Listening Session in Chicago. While in Birmingham, I will be meeting with our auditing team, meeting with CEOs in the Cheaha chapter, visiting some credit unions, and sitting down with new ACUA Administrator Sarah Moore. To see my tentative schedule for the next two weeks, click here.

Visit the LSCU YouTube channel to see the President's Quarterly video. 

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FREE Small Asset Size Credit Union Webinar, July 10

Join the LSCU Cooperative Initiatives Department Thursday, July 10, at 2 p.m. CDT/3 p.m. EDT for a FREE, informational webinar.

The CI team will be addressing some of the most current and relevant credit union topics, including successful lending initiatives from your peer credit unions, compliance issues, and disaster recovery. In addition, the webinar will be exploring some of the new products being offered through LEVERAGE. Speakers include Scott Morris, LSCU director of Regulatory Affairs; Keith Hopkins, LEVERAGE VP of Product Management; and Ken Schroeder,  Corporate One Federal Credit Union director of Business Continuity.

Click here to register.

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Show good works of CU/chapter through entries for Dora Maxwell, Louise Herring, & Desjardins awards

The CUNA awards programs--Dora Maxwell, Louise Herring, and Desjardins--showcase the credit unions and chapters that are leading the way to improving the good works that have been a hallmark of the credit union movement for more than 100 years.

We all know each and every credit union and chapter does something for the greater good, whether it's for members, the community, or employees. Why not showcase what you do by submitting an entry for one of these awards? It's an easy process. Those entries that win at the league level, are submitted for the national competition.

The deadline for entry submission is August 8. All the information about each of these awards is located on the CU Award Programs web page on the League's website. Questions? Contact LSCU Director of Communications Amy Jowers.

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Veri-Tax webinar July 10

Learn more how LEVERAGE partner Veri-Tax can help your credit union meet CFPB's increased requirements for compliance and fraud detection. Plus, Veri-Tax has extended the VOE promotion through the month of July. Register for Thursday's free webinar to learn more.

Can't make it to Thursday's webinar? There are two 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
Monday Edition
Confidence in banks remains low
President's point
FREE Small Asset Size Credit Union Webinar, July 10
Show good works of CU/chapter through entries for Dora Maxwell, Louise Herring, & Desjardins awards
Veri-Tax webinar July 10
LSCU & Affiliates Media

President's 2Q Video
The LSCU & Affiliates President/CEO Patrick La Pine provides an update from the second quarter and also looks ahead to the rest of the summer.

Upcoming Event Deadlines
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
Sept. 8 Last Day to register - LSCU Fall Regulatory compliance Update - Birmingham, AL

Sept. 9 Last Day for Early Bird Rate – LSCU Collections & Bankruptcy School – Birmingham, AL

Sept. 10 Last Day to Register - LSCU Fall Regulatory Compliance Update - Birmingham, AL

Sept. 23 Last Day for Early Bird Rate – LSCU OFAC/BSA Basic & Advanced School – Tallahassee, FL

Sept. 23 Last Day for Early Bird Rate – LSCU Lending School – Birmingham, AL

Upcoming League Events
TOMORROW - Analysis of Financials & Ratios
July 9 - SAR Report Line by Line
July 13-16 - SE Regional Director's Conference
July 14 - The Rise of Bitcoin & Virtual Currencies
July 15 - New CFPB Income Verification Rules
July 16 - BSA Essentials & Advanced, Mobile
July 16-17 - Philosophy in Action Workshop Orlando
July 16 - Overdraft Protection Review
July 17 - BSA Essentials & Advanced, Huntsville AL
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