July 8, 2014
Tuesday Edition
CUNA in Forbes.com: Positive job numbers are 'bounce back effect'

The jobs report showed the economy added 288,000 jobs in June and that unemployment dropped to its lowest rate since September 2008.

"The first quarter numbers were not all that encouraging, especially in terms of the economic growth numbers," Schenk said. "People seemed to be sitting on the sideline in terms of purchasing behavior. Clearly the consumer is back in the marketplace."

Schenk also mentioned CUNA's latest monthly survey of credit unions, which showed credit unions' loan portfolios increased 1.2 percent, the largest growth since 2005.

"Consumers are engaged. They are not only buying more, but buying big ticket items so a lot of that pent-up demand is being expressed," he told Forbes.com.

The jobs report also indicated June was the fifth consecutive month with job growth of at least 200,000, and that the jobs created in June mean a total of 9.7 million new private-sector jobs were created over the last 52 months, the longest such streak on record.

According to the department, this is the most total jobs added in the first half of a year since 1999.

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Washington wire

There are fewer than 24 legislative days until the election, and between now and then, Congress will be grappling with three major issues: the solvency of the highway trust fund, the resolution of the Export-Import Bank, and keeping the federal government open past October 1.

Click here for more on the above topics, plus:

  • Recognizing the 80th Anniversary of the Federal Credit Union Act

  • Details Community Development Revolving Loan Fund (CDRLF) and Community Development Financial Institution Fund (CDFIF)

  • NCUA’s Risk-Based Capital Proposal

  • The week's floor and committee schedules

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ACUA approved for reaccreditation

The National Association of State Credit Union Supervisors recently approved the reaccreditation of the Alabama Credit Union Administration (ACUA) and the Washington Department of Financial Institutions (DFI) Division of Credit Unions.

The ACUA, which is led by Sarah H. Moore, supervises 65 credit unions with combined assets of roughly $10.7 billion. The DFI, led by Scott Jarvis, supervises 62 credit unions with combined assets of about $35.9 billion.

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Jack Daniels opens new Alabama manufacturing facility, creates 200 new jobs

Alabama Gov. Robert Bentley and numerous local and state elected officials came together yesterday to celebrate the grand opening of Jack Daniel’s new barrel manufacturing facility in Trinity, AL, just west of Decatur.

Just over two years ago, Brown-Forman, one of the largest spirits and wine companies in the world, announced that growing worldwide demand for Jack Daniel’s Tennessee Whiskey had compelled them to open a new cooperage to craft barrels in Decatur, AL.

The new Alabama facility will produce white oak barrels used for maturing Jack Daniel’s Tennessee Whiskey. Approximately 200 people will be employed at the cooperage.

Click here to read the full story from Yellowhammer News.

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In This Issue
Tuesday Edition
CUNA in Forbes.com: Positive job numbers are 'bounce back effect'
Washington wire
ACUA approved for reaccreditation
Jack Daniels opens new Alabama manufacturing facility, creates 200 new jobs
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

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TODAY - 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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