July 11, 2014
Friday Edition
Rep. Jeff Miller introduces bill to improve veteran access to small business loans

HR 5061, introduced by Rep. Jeff Miller (R-FL) Thursday afternoon, would amend the Federal Credit Union Act to enhance lending to veterans who want to start or finance a small business. Credit union lending to members for business purposes is limited to 12.25 percent of the institution’s assets. The measure would exempt business loans to veterans from the restriction.

For years credit unions have been attempting to raise the member business lending (MBL) cap from 12.25 percent of total assets to 27.5 percent of total assets. By raising the MBL cap, credit unions can better serve their members by offering small businesses more access to much needed capital.

“The idea to exempt veterans from counting against a credit union’s MBL cap makes a lot of sense,” says Rep. Miller. “This bill would make the decision to offer veterans access the capital much easier because it will no longer count against their business lending cap. It will provide opportunities for many more veterans.”

The introduction of HR 5061 is the first step. The League of Southeastern Credit Unions intends to make this a priority for the remainder of the 113th Congress. By allowing an exception to the MBL cap, Congress will be sending a strong message that service by veterans is appreciated.

HR 5061 has been referred to the House Committee on Financial Services.

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Listening session focuses on RBC

A sold out NCUA Listening Session in Chicago featured quite a bit of discussion on the risk-based capital proposal. LSCU & Affiliates President/CEO Patrick La Pine attended, along with Florida Credit Union CEO Mark Starr, and GTE Financial CEO Joe Brancucci. NCUA Region III Director Myra Toeppe was also in attendance.  Starr was one of the credit union CEOs that was able to make a comment during the session.

NCUA Chair Debbie Matz said the Office of the Inspector General and the Government Accountability Office have pushed the NCUA to get a RBC system in place.  "We are going forward with risk-based capital, but we will address the issues that have been identified," she said.

Several credit unions asked for a re-issue and new comment period for the proposal, since a number of significant changes are likely. Matz said that if after the NCUA reviews the proposed rule, if the rule's intent changes significantly it will require a new comment period. She also said the 18-month implementation period for the new rule will likely be changed. A longer implementation period is one of the League's and CUNA's requests if the NCUA goes forward with a final rule.

Other topics addressed at the session included fines for late Call Report filers and interest rate risk. Matz said the number of late filers is going down, but the NCUA has been too lenient in the past. She added that if there is a valid excuse for late filing, the credit union in question will not be penalized. 

La Pine will write more about the session and his thoughts in Monday's President's Point in eSignal Daily.

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CUNA Mutual Group kicks off Loan Generation Marketing webinar series July 16

CUNA Mutual Group’s summer Loan Generation Marketing webinar series begins July 16 at 2 p.m. CDT, with a session focused on recapturing auto loans and targeting new opportunities.

Webinars are conducted by CUNA Mutual Group Loan Generation Marketing specialists and address top issues facing credit unions, including how to grow larger, more stable loan portfolios, create deeper credit union member relationships, and generate interest and member-friendly non-interest income.

Webinars are free for all credit unions, run from 2 – 2:30 p.m. CDT, and conclude with a live Q&A session.

Upcoming Summer Loan Generation Marketing Webinars:

  • July 16: Auto Loan Recapture®, Universal Auto and Next Car Purchase: Recapture Loans and Target New Opportunities
  • July 22: Mortgage Recapture and First-Time Home Buyers: Increase Your Share of the Mortgage Market
  • Aug. 5: Credit Card and Personal Loans: Growing Unsecured Loans
  • Aug. 14: Home Equity Recapture and Home Equity Acquisition: Grow and Diversify Your Loan Portfolio


Click here to register.

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Second quarter Director's Resource now available

Each quarter the League produces a newsletter geared toward credit union directors. The LSCU Director's Resource has information about upcoming events specifically for directors, stories that will give them a greater understanding of what the League and CUNA are doing for credit unions, as well as stories that will enrich their job as a director.

Click here to view the latest edition of Director's Resource.

Highlights of the second quarter issue include:

  • The board's roll in overseeing cybersecurity risk
  • Advocacy wins in Alabama and Florida
  • Five things boards can do to lead with accountability and transparency
  • Directors Spotlight from the 2014 Southeast Credit Union Conference & Expo

If you would like this and upcoming issues of Director's Resource emailed to you directly, sign up by sending an email request.
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CU happenings

Army Aviation Center FCU donates $15,000 to Fort Rucker’s Army Emergency Relief Fund

Army Aviation Center Federal Credit Union (AACFCU) presented a donation of $15,000 to Fort Rucker’s Army Emergency Relief (AER) Fund at the 2014 AER Campaign Closing Ceremony on June 13. Funds were primarily raised from AACFCU’s Annual Golf Tournament held each year at Silver Wings Golf Course at Fort Rucker. All proceeds from the golf tournament were donated to AER. AER is the Army’s own emergency financial assistance program dedicated to helping active and retired soldiers when there is a vital need. Fort Rucker’s AER campaign raised $122,582.66 and will provide loans and grants to soldiers, retirees, family members, and survivors.

America's First sits on NASCAR panel

NASCAR rolled through Birmingham Thursday afternoon talking to local companies about the business of NASCAR. They specifically were talking about how sponsorships and partnering with Talladega Superspeedway is beneficial. America's First FCU, based in Birmingham, has been a longtime sponsor at the track. Phil Boozer, America's First vice president of public relations and sales sat on a panel of sponsors. He talked about how America's First has leveraged its relationship with Talladega to encompass more than just race day. During the meeting, a Talladega representative said the10-year economic impact Talladega has had on the area is more than $3 billion. 


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In This Issue
Friday Edition
Rep. Jeff Miller introduces bill to improve veteran access to small business loans
Listening session focuses on RBC
CUNA Mutual Group kicks off Loan Generation Marketing webinar series July 16
Second quarter Director's Resource now available
CU happenings
LSCU & Affiliates Media


2014 Southeast Credit Union Conference and Expo

The LSCU & Affiliates hosted the Southeast Credit Union Conference and Expo. The conference featured former Florida State Football Coach Bobby Bowden, National Credit Union Foundation Executive Director Gigi Hyland, CUNA Mutual Group CEO Bob Trunzo, and Filene Research Institute CEO Mark Meyer.


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
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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