August 1, 2014
Friday Edition
Find out the latest from Thursday's NCUA board meeting

The National Credit Union Administration board convened its seventh scheduled open meeting of 2014 yesterday. The board unanimously approved the following items:

  • A proposed rule to provide federal credit unions with regulatory relief and greater flexibility managing fixed assets by removing the waiver requirement for credit unions to exceed the five-percent aggregate limit on fixed-asset investments.
  • Reprogramming NCUA’s 2014 operating budget with a net reduction in overall expenditures of $1.1 million for the remainder of the year.


The board also received briefings on:

  • The performance of the corporate credit union legacy assets and the NCUA Guaranteed Notes program, which concluded that, at present, future Corporate Stabilization Fund assessments are unlikely.

Click here to read NCUA's complete Board Action Bulletin.

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Senators introduce more reg relief for CUs, small banks

U.S. Sens. Angus King (I-ME), Deb Fischer (R-NE), Mark Warner (D-VA), and Jon Tester (D-MT.) unveiled new legislation Wednesday intended to provide immediate regulatory relief for America's credit unions and community banks.

Calling these smaller financial institutions the "bedrock of small towns across America," King said they--and the services they provide--are being "hammered by a tidal wave of poorly-tailored regulations."

The bill, introduced yesterday and entitled the RELIEVE Act, would:

  • Provide credit unions parity with Federal Deposit Insurance Corp.-insured institutions when it comes to deposit insurance coverage on Interest on Lawyers Trust Accounts (IOLTAs) and other escrow accounts.
  •  Improve the definition of "rural" so that more counties will be considered rural for the purposes of the rules of the Consumer Financial Protection Bureau; and increase the annual mortgage origination limit for rural creditors from 500 to 1,000 per year.
  • Require the Federal Reserve to revise the Small Bank Holding Company Policy Statement so that the policy applies to bank holding companies and savings and loans holding companies with pro forma assets of less than $1 billion, an increase from the current threshold of $500 million.

Read the full story from CUNA News Now.

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TODAY is your last chance to register online for the Southeast Supervisory Committee Conference

Tomorrow is your last chance to register online for this year's Southeast Supervisory Committee Conference which begins this Sunday, Aug. 3 at the Grand Hotel Marriott Resort in Point Clear, AL. 

Whether you are a new supervisory committee member, board member, or even a seasoned volunteer don't miss out on this group-live event that will most definitely enrich your contributions to your credit union.

The event will have a full agenda of the latest information and updates regarding credit union auditing, compliance, and fraud. With a wide variety of speakers and topics, you’ll better your knowledge to help keep your credit union secure and strong.

Click here to learn more and register (today). 

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Credit union representatives show support on the campaign trail


The Wood's attend fundraiser for Adam Putman

Credit unions were represented at a fundraiser recently for Florida Commissioner of Agriculture Adam Putnam (center). Railroad and Industrial FCU CEO Art Wood (left) and Florida West Coast CU CEO Mary Wood attended. They were able to discuss some credit union issues with Putnam, a credit union supporter.   


League helps with Colleen Burton's campaign
LSCU and Affiliates' Director of Governmental Affairs (Florida) Jennifer Martin spent this past Saturday walking door to door with candidate Colleen Burton. Burton is a Republican running for HD 40 in Lakeland, an open seat currently filled by Rep. Seth McKeel who terms out this year. Facing a tough primary opponent, Burton was appreciative of the time the League spent helping with her campaign grassroots efforts to reach the voters. While helping with campaign efforts the GA team also had the opportunity to discuss the issues most important to credit unions.

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CU happenings

First Florida prepares children for financial futures this Saturday
This Saturday, Aug. 2, the First Florida Credit Union’s Tallahassee Northside Branch will host Money Savvy Kids to teach local children, ages five to 12, financial fundamentals and the value of saving money. Through engaging and interactive games stations, this free event introduces children to concepts such as goal setting, smart spending, and earning interest on savings. If you are in the area make plans to take your young saver. 

New executive director announced at Suncoast Credit Union Foundation
Suncoast Credit Union announces the appointment of Cindy Helton to the position of executive director of the Suncoast Credit Union Foundation, effective immediately.

As executive director, Helton will be responsible for conceptualizing, developing and facilitating the implementation of projects, donations, grants and events related to Suncoast Credit Union’s commitment to the community.

For the last six years, Helton served on the Academy of Finance board of directors and has lead community efforts to provide internship opportunities for more than 150 Academy of Finance students in Hillsborough County.

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In This Issue
Friday Edition
Find out the latest from Thursday's NCUA board meeting
Senators introduce more reg relief for CUs, small banks
TODAY is your last chance to register online for the Southeast Supervisory Committee Conference
Credit union representatives show support on the campaign trail
CU happenings
LSCU & Affiliates Media


I give because...Brad Green, Listerhill Credit Union
Listerhill CU CEO Brad Green talks about why he gives to the LSCU PAC.


I give because...Gary Vien, Suncoast Credit Union
 Suncoast CU CEO Gary Vien talks about why he gives to the LSCU PAC.


Upcoming Event Deadlines
TODAY 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
Aug. 3-6 - SE Supervisory Committee Conference
Aug. 5 - ACH Reclamations & Garnishments
Aug. 6 - Wire Transfer Compliance
Aug. 7 - 6 Building Blocks for Success
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