July 18, 2014
Friday Edition
NCUA holds final Listening Session

More than 150 credit union officials attended the final NCUA Listening Session in Alexandria on Thursday. The discussions were very similar to past sessions with the risk-based capital rule dominating the discussions. LSCU SVP of Association Services Jared Ross attended the meeting. Achieva Credit Union, based in Dunedin, FL, CFO Dennis Holthaus also attended. For the third time, the NCUA said that risk weights will be looked at again and their will be positive change. Once again, Chairman Debbie Matz did not give specifics. A couple of credit unions questions why Small Business Administration (SBA) loans were on the list.

Chairman Matz said again that the NCUA did not believe what CUNA and other trades were saying when it comes to the amount of capital credit unions would need to raise to be compliant. Matz said the NCUA's $700 million range was correct. A few credit unions questioned that number. Implementation was also a hot topic. Credit unions questioned the NCUA on the period of time in the proposed rule. One credit union stated that they plan strategically three to five years out so the plan should take that into consideration. 

Navy FCU told the NCUA that the rule wouldn't just negatively impact the credit union, but also the membership. Chairman Matz disagreed and said the NCUA was severely behind other regulators in having a risk-based capital rule. She said the rule will protect consumers and keep credit unions safe and sound. She also said that examiners will not have the authority to demand a credit union raise its capital holdings, but needed a supervisor's consent. Matz told credit unions to contact the NCUA if they felt there was an issue. 

One other interesting conversation that took place was the communications between the NCUA and examiners and credit unions. One credit union official went so far as to say they felt like the NCUA wanted credit unions to manage the NCUA's staff. Matz said that wasn't the case, but wanted to know when issues came up. 

Credit unions can expect to hear more about the risk-based capital proposal this fall. The room felt a little optimistic, but the proof will come when the changes to the rule are made public.

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Crist selects running mate

In a surprising move, former Republican governor, and current Democratic gubernatorial candidate Charlie Crist picked his lieutenant governor running mate. Crist selected Miami Democrat Annette Taddeo-Goldstein, a business woman who runs a translation company. The move is surprising in that Crist did not wait for the primary to name his running mate and that Taddeo-Goldstein has never held elected office. She ran for Congress in 2008 against incumbent Ileana Ros-Lehtinen, receiving 41 percent of the vote.

The selection of Taddeo-Goldstein all but ensures that Florida's lieutenant governor will be from the Miami-Dade area. Gov. Rick Scott appointed former House member Carlos Lopez-Cantera to fill the remaining term after the resignation of Lt. Gov. Jennifer Carroll. Lopez-Cantera is expected to be Scott's running mate for 2014.

For more information on this story click here.

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2014 SCUMA Conference - Aug. 20-22

Come join your peers and top management staff for the Southeast Credit Union Management Association’s Annual Conference (SCUMA) held at the Sandestin Hilton Hotel Aug. 20-22.

The conference is designed to allow you to network in an informal setting with your peers and management team members, while attending sessions with up-to-date topics currently happening in our environment, find out what other credit unions are providing that might be a fit in your credit union.

Conference speakers include:

  • Craig Dismuke, Vining-Sparks will provide an economic update and discuss financial investment strategies.
  •  CUNA Mutual Group will provide the attendees with innovative lending ideas and how to optimize the member experience.
  •  A mystery speaker to close out the session on Friday.  This mystery speaker is a multi-award winning TV producer who has worked with people like Jerry Seinfeld, Jay Leno, and others. Not only is he an Emmy® Award winning TV producer, but  he led his team to 10 straight years of #1 ratings and more than 10 Emmy® Awards of their own. Today, he helps other leaders achieve those kinds of results – in their world and with their teams!

Make your hotel reservations today! Hotel group rate cutoff date is July 25. Reservation phone number: 850.267.9500 / 800.559.1805 Reservation code:  SCU.

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2014 Mid-Year Report from the LSCU & Affiliates now available

Each year the LSCU & Affiliates sends out two documents that highlight many of the League's accomplishments on behalf of affiliated credit unions, with this being the mid-year report.

Among the highlights are:

  • A look at the risk-based capital plan by the League
  • The League's new endorsement policy
  • The update to the Alabama Credit Union Act
  • Record attendance at the Southeast Credit Union Conference and Expo
  • The second dues rebate from the League
  • The Cooperative Image Campaign live and showing early results
  • LEVERAGE expands its auditing footprint in the Southeast
  • LEVERAGE's CO-OP Patronage Dividend Program returns $110,000 to credit unions

Credit unions are encouraged to share this with senior staff and boards of directors. Click "The 2014 Mid-Year Report" to download the document.

If you have any trouble downloading, contact LSCU VP, Communications Mike Bridges at 866.231.0545 ext. 1022.

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CU happenings

Sarasota Municipal Employees Credit Union’s board chairman appointed to Florida Historical Commission
Sarasota Municipal Employees Credit Union’s Board Chairman Dr. Clifford Smith was appointed by Gov. Rick Scott to the Florida Historical Commission beginning July 11, 2014 and ending December 31, 2016.

Tuscaloosa Credit Union closes five first time home buyer loans in one day.
Through its Square One Home Mortgage Program, TCU closed five mortgages for first-time home buyers on June 26. To date, Tuscaloosa Credit Union's Square One program has funded home loans to 13 first-time home owners. TCU is on track to close nine more home loans by year end.

Tampa Chapter presents the Carolyn Parslow Memorial Scholarships
The first two recipients of the Carolyn Parslow Memorial Scholarship presented by Patty Sarne with San Antonio Citizens FCU are Zachary Winters (USF) and Madison Johnson (FSU). Madison's father Doug accepted on her behalf. Carolyn Parslow was a long-time credit union advocate and a dedicated employee of 49 years at Suncoast Schools Credit Union.

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In This Issue
Friday Edition
NCUA holds final Listening Session
Crist selects running mate
2014 SCUMA Conference - Aug. 20-22
2014 Mid-Year Report from the LSCU & Affiliates 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
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 22 - Ensuring Data Security
July 23 - Stress Testing for Risk Management 
July 29 - SAFE Act Registration-Renewal- Compliance
July 30 - Avoid HMDA Reporting Mistakes
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