July 21, 2014
Monday Edition
House passes bill with $2M for CDRLF, $230M for CDFIF

The House of Representatives passed the Financial Services and General Government Appropriations Act (H.R. 5016) for fiscal year 2015 Wednesday, by a vote of 228-195.

The bill includes an increased amount of money for the Community Development Revolving Loan Fund (CDRLF) from previous drafts, up to $2 million from $1.071 million. The National Credit Union Administration's CDRLF provides grants and loans to low-income designated credit unions for financial services and to stimulate economic activities in local communities.

The bill contains $230 million for the Community Development Financial Institutions (CDFI) Fund, a $4 million increase from last year. The fund supports CDFIs by supporting business growth, job creation, and low-income community revitalization.

According to the U.S. Treasury Department's CDFI report for fiscal year 2013, credit unions represent 177 of 811 CDFIs active at the end of last year.

Visit CUNA News Now for the full story.

Return to Top
Home foreclosures fall to lowest level in eight years

Foreclosure activity in the U.S dropped last month to the lowest level since July 2006, before the housing bubble burst. It will likely continue to drop through the first half of next year an industry group said last week.

RealtyTrac, which tracks housing market trends, said that 107,194 properties across the country were at some stage of the foreclosure process in June. That marked a two percent decline from May and left foreclosure activity, which includes foreclosure notices, scheduled auctions, and bank repossessions, 16 percent below last year's level.

"Over the next six to nine months, nationwide foreclosure numbers should start to flatline at consistently historically normal levels," RealtyTrac Vice President Daren Blomquist said in a statement.

Declining foreclosures have reduced the supply of properties on the market, pushing home prices up. That, combined with higher mortgage rates, has slowed the recovery of the U.S. housing market.

Lenders reclaimed a total of 26,889 properties in June, down five percent from May and the lowest level since June 2007. Repossessions were down 24 percent from a year ago.

Lenders started the foreclosure process on 47,243 properties in June, down 18 percent from a year ago, and the lowest level since November 2005.

Florida continued to have the nation's highest foreclosure rate, followed by Illinois, New Jersey, and Nevada.

Click here to read the full story at Daily Finance

Return to Top
#100MM campaign starts conversations between members, CUs

The "100 Million Credit Union Memberships" project is inspiring credit union members to share how long they have been a member of their credit union and what makes their credit union special. 

While many people cited decades of membership, a unique answer came from a member of $2.2 billion-asset Coastal FCU. Larry Apple tweeted that the passbook number on his original membership card is 59--a number that likely came from the first couple months of operations, the Raleigh, N.C., credit union responded in a Twitter conversation.

The #100MM hashtag is shorthand for the upcoming milestone of 100 million memberships at U.S. credit unions, captured by the America's Credit Unions website from the CUNA and the state credit union leagues. 

Members can share submitted selfies with the hashtag #100MM on Google+, Facebook, Instagram, and Twitter.

To upload a video or photo, just visit the 100 million memberships website, complete the form, upload the image or video from your computer (or via social media), and submit.

Return to Top
2014 hot topic webinar sale

LSCU & Affiliates is currently offering a hot topic webinar sale. Check out the hottest credit union special of the year - buy two hot topic webinars and receive a third one for free. Plus, each archive includes an on-demand link and a free CD ROM.

Hurry - offer expires July 31!

Click here to learn more.

Return to Top
In This Issue
Monday Edition
House passes bill with $2M for CDRLF, $230M for CDFIF
Home foreclosures fall to lowest level in eight years
#100MM campaign starts conversations between members, CUs
2014 hot topic webinar sale
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
Follow Us

© Copyright, League of Southeastern Credit Unions & Affiliates
Phone: 866.231.0545
3692 Coolidge Court | Tallahassee, Florida 32311
22 Inverness Cntr Pky, #200 | Birmingham, Alabama 35242
To ensure delivery, please add 'submissions@lscu.com' to your email address book or Safe Sender List. If you are still having problems receiving our communications, see our white-listing page for more details.

To safely unsubscribe from this group, click here.
Home Action Center Contact Us CU Job Center Forward to a Friend Back Issues Twitter Facebook YouTube