LSCU eNews Weekly
March 1, 2010 LSCU eNews Weekly
LSCU eNews Weekly
In This Issue
LSCU Headlines
LSCU adds staff
CUNA GAC wrap up
NCUA and Federation hosting joint conference call March 4, on new CDFI capital initiative
Press Room updated
LSCU AC&E News
Register online for LSCU's Annual Convention and Exposition
Second of three guest events highlighted: Airboat Adventure at the Old Fish Camp
Governmental Affairs News
Florida Session begins this week
Alabama Legislature update
Washington news update
Compliance Corner
Newest Infosight newsletter now available
Compliance calendar and training schedule
LSCU Education News
REGISTER NOW! for March 4 Bank Secrecy Act webinar
Don't miss March IRA training workshops in Orlando, Birmingham
Speaker Dave Timmons speaks on Six String Leadership at upcoming LSCU Leadership Council meetings scheduled in Alabama, Florida
News from You
Insight Financial CU embarks on year-long celebration of 75th annivarsary
Alabama Telco breaks ground at new Dothan location
Power Financial Credit Union delivers Valentines to hospitalized kids
Coosa Pines FCU sponsored new scoreboard at local baseball field
Naheola Credit Union gives to local school
Credit Union Job Postings
Credit union employment opportunities posted online
Calendar
Schedule of Events
In This Issue
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LSCU Headlines

LSCU adds staff

The LSCU continues to retool its staff to meet the needs of its member credit unions. There have been a number of positions filled recently.

In Association Services, Robbie Gordon fills the newly created position of grassroots and political action coordinator for Alabama. Gordan will be based in the Birmingham office and report to Vice President, Legislative Affairs/Staff Counsel Will McCarty. This position is designed to facilitate Alabama credit unions advocacy and generate greater PAC awareness and participation. Gordon graduated from Lander University in 2008 with a degree in political science. She comes to the League from the Government Policy and Regulatory Affairs Department in the law firm of More and Van Allen in Charlotte, North Carolina. Gordon's first day with the League will be March 29.

Also in Association Services, Amber Tynan assumes a new role within the Cooperative Initiatives Department as a Member Relations Specialist. Tynan moves over from the LSCU Service Corporation where she previously held the Business Development Manager position. Amber will continue to be based in Tallahassee and will report to Vice President of Cooperative Initiatives Laura Vann. 

The LSCU Education Department welcomes Brandy Norvell as its new Events Coordinator. Norvell moves over from the Alabama CUSC. She will continue to be Birmingham based and report to Vice President of Education Joy Breedlove.

"These staff changes show the LSCU’s commitment to our member credit unions in the key functions of advocacy and information,” said LSCU President/CEO Patrick La Pine. “Robbie, Amber, and Brandy will have significant interaction with our credit union community.”

On the LSCU Service Corporation side, Vice President, Audit & Compliance Services Eleanor Brown is leaving to join the staff of Alabama Credit Union in Tuscaloosa as its Chief Financial Officer (CFO). In the interim, Asst. Vice President, Audit & Compliance, Ashley Mobley will direct the department as a search to replace Eleanor is conducted. 

“Eleanor has been an integral part of the LSCU executive management team and I personally hate to lose her,” said La Pine. “We feel confident that Ashley and the rest of the CU-ACE staff will continue to offer the same great level of service and technical expertise member credit unions have come to expect from CU-ACE.”

The Service Corporation is also pleased to announce the hiring of Mary Elicia Del Santo for the newly created position of Vice President of Business Development. Del Santo will be Tallahassee-based and report to LSCU EVP/COO Marvin Garland. Mary Elicia brings more than 20 years experience in sales and management with financial institutions. Most recently she was a Business Development Officer with STCU Credit Union in Springfield, MA. Before that she worked 11 years at Members Health Network, LLC. Monday March 1 is her first day.

Tameka Dukes has also returned to the Service Corp. to fill the CUSC position recently vacated by Brandy Norvell who moved over to the Education Department. [ Return to Top ]

CUNA GAC wrap up

Charlie Mingus, Board Chair, Army Aviation Center FCU and Alabama CU CEO Steve Swofford at the LSCU Hospitality Suite.

The first LSCU CUNA GAC was a rousing success. The LSCU held a Welcome Reception and two hospitality suites. These meet-and-greet type of receptions allowed the LSCU delegation to unwind at the end of the day and to prepare for Hill visits.

The LSCU made Hill visits on Tuesday and Wednesday, meeting with the entire delegation from Alabama and Florida. Many of the meetings were very productive as lawmakers asked questions about member business lending, overdraft fees, and interchange fees. Rep. Spencer Bachus (R-AL) met with the delegation Tuesday before he addressed the General session of the CUNA GAC. Rep. Bachus told the session that he strongly supported raising the member business lending cap for credit unions. He also told the General Session that the "too big to fail" method of regulatory reform would not work. Before he addressed the crowd, a few Alabama credit unions were able to meet with him backstage in the Convention Center.

Rep. Spencer Bachus (R-AL) meets with the LSCU delegation at the CUNA GAC.

During the Hill visits, the League secured two new co-sponsors for H.R. 3380 (Promoting Lending to America's Small Businesses Act of 2009) to join current co-sponsor Congresswoman Kathy Castor (FL-11) who signed on in December.

Congressmen Gus Bilirakis (FL-9) and Alan Grayson (FL-8) were convinced to add their names along with Castor and more than 70 other members of Congress. The co-sponsors agree that credit unions have the ability to increase needed lending to America’s small businesses. If the member business lending cap were raised from 12.25 percent to 25 percent, credit unions could lend an additional $10 billion that would help create more than 108,000 jobs.

If you’re located in the districts of the members of Congress who are co-sponsoring H.R. 3380. Please take a moment to call their offices and thank them for helping America’s small businesses. If you're not in their district, you are also more than welcome to call.

Congressman Gus Bilirakis - 202.225.5755

Congresswoman Kathy Castor - 202.225.3376

Congressman Alan Grayson - 202.225.2176
 
The LSCU also unveiled some new multimedia and social media for the CUNA GAC. For a complete wrap up from the CUNA GAC, click here to see the multimedia videos the LSCU produced from Washington D.C. The LSCU also sent back Twitter updates, including pictures, right after the Hill visits. To follow the League on Twitter, click here. To follow LSCU President/CEO Patrick La Pine on Twitter click here.  

You can also see all of the materials that was distributed at the CUNA GAC. These include a closer look at many of the issues being discussed with the LSCU's Federal lawmakers. Click here to see the CUNA GAC Resources page. It is password-protected.


Rep. Adam Putnam (R-FL) meets with the LSCU delegation during the CUNA GAC. 


 

 

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NCUA and Federation hosting joint conference call March 4, on new CDFI capital initiative

The National Credit Union Administration (NCUA) and the National Federation of Community Development Credit Unions are offering a joint audio conference March 4 to provide low-income credit unions (LICUs) with specifics about how to access the U.S. Treasury's new Community Development Capital Initiative (CDFI).

The NCUA earlier this month approved an interim final rule that allows LICUs to redeem all or part of government-funded secondary capital, along with its matching secondary capital at any time after it has been on deposit for two years. That change was made to enable certain credit unions to participate in the new Treasury program. LICUs that wish to take part in this program must apply for funding by April 2.

NCUA Chairman Debbie Matz strongly encouraged LICUs to take part in the audio conference to "learn more about how this capital infusion could help them better serve their members and reach out to more consumers."

No registration is required for the 2 p.m. (EST) session. The call-in number for the free, 60-minute audio conference is 877.293.6129. To access the conference, provide Conference ID Number: 58577856. Additional details about the initiative are available on CDFI Fund's website www.CDFIFund.gov [ Return to Top ]

Press Room updated

The LSCU Press Room has two new articles highlighting credit union business. USA Today ran an article featuring member business lending and how the cap should be raised. The reporter talked with a couple from Oregon who couldn't get a loan through a bank. They were able to open their restaurant because a credit union was there to lend to them.

The CBS Evening News and the CBS Sunday Morning Show featured a Michigan credit union and its credit card practices. The story centered around why a credit card from a credit union is basically a better deal. It also touched on the full-service nature of a credit union when it comes to credit cards.  

You can find both of these stories in the LSCU Press Room. Check the press room often for the latest in Alabama, Florida, and national credit union news.  [ Return to Top ]

LSCU AC&E News
Register online for LSCU's Annual Convention and Exposition

Have you registered for LSCU's 1st Annual Convention and Exposition (AC&E)? You'll find everything you need on the LSCU Convention & Exposition Web site. View the Schedule-at-a-Glance, hotel information, golf tournament details, keynote speaker descriptions, guest and offsite events, exhibitor information, and more with just one click! 

For registration information, just click here. This is a member-only event so you must sign in on the Web site to register and view certain information. If you have not signed up for Web site access, click here. [ Return to Top ]

Second of three guest events highlighted: Airboat Adventure at the Old Fish Camp
This year's guest events at the LSCU 1st Annual Convention & Exposition (AC&E) include a charming tour, an adventurous ride, and a scrumptious lesson! Read below for a description of the second of three events

scheduled for your pleasure.

LSCU AC&E Offsite Event (and golf alternative): Airboat Adventure (for guests and attendees!)
June 18, 2010, 8 a.m. – 11:45 a.m.

Hold on to your hat! This adventure includes an exclusive eco-guided nature walk and narrated airboat ride to see, up-close, a marvelous assortment of birds, reptiles, and plants. This excursion takes you into the seldom visited heart of natural Florida. Sample alligator tail and enjoy a cold beverage at the 100-year-old Fish Camp! The cost for this golf alternative event is $100. [ Return to Top ]

Governmental Affairs News
Florida Session begins this week

This week kicks off the annual 60-day sprint known as the Florida legislative session. The first week is highlighted by the governor's annual "State of the State" address Tuesday, March 2.

Florida Governor Charlie Crist (R) will give the "State of the State" address Tuesday. 

The estimated hole in this year's budget is said to be between $900 million and $2.6 billion, and with no new sources of revenue, some programs are definitely at risk. The Legislature will take a magnifying glass to the budget over the next few weeks. We can expect no new taxes, but higher fees from the Republican-led Legislature. High on the Legislature's agenda this week are a two-year suspension of a hike in unemployment compensation tax and reforms to the Public Service Commission.

State economists will draw up new estimates of the statewide property tax roll that will be used to help set the required local effort millage rate school districts must charge in order to receive school funding from the state.

Monday is the last round of fundraisers for most of the Legislature as they are prohibited from raising funds during the session unless they're running for federal office. Nearly two dozen fundraisers are on the calendar for Monday as lawmakers and candidates try to beat the clock by getting as much money as they can in the bank before the 60-day moratorium begins.

Committee meetings have been ongoing for several months and will continue to ramp up prior to the last three weeks of session when lawmakers will spend most of their time on the floor of their respective chambers.

For more information on the Florida legislature, contact  LSCU Vice President, Legislative Affairs Mark Landreth.


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Alabama Legislature update

This past Thursday was day 15 of the 2010 Session of the Alabama Legislature, thus making it the half way point of the session. While the Senate has been working well, passing legislation, it now appears that this may be coming to an end. Republican Senators have been expressing frustration at being in the dark about what bills would be brought up on the Senate floor each day, and both sides of the bingo battle are gearing up as the issue continues to build up steam. Proponents of SB 380 are working to modify the bill to get the 21 votes needed to pass a Constitutional Amendment. While supporters do not have the votes needed, rallies in front of the Statehouse and the raids by the Governor’s Task force are keeping the issue front and center, leading to a showdown that could shut down the Senate.

Last week, the Credit Union Legislative Forum submitted seven names to the Governor for two vacancies on the Board of the Alabama Credit Union Administration. While six nominees were required for the two vacancies, seven were submitted by credit unions across the state and transmitted by the Governor, who will ultimately make the nominations. Once the nominations are made by the Governor’s office, the League will assist with the Senate confirmation process in the Senate.

This week the Senate Banking Committee is scheduled to meet, taking up mostly insurance legislation. One bill that will be taken up is SB 458, which is a Constitutional Amendment to prohibit the state or a political subdivision from being a stockholder in a bank or from lending state credit to a bank. The bill also requires all banks be examined and make financial reports at least twice a year. This bill should have no effect on credit unions, but rather is an attempt by the state to be able to regulate banks, and prevent unregulated banking activities by out of state companies, as well as constitutionally prohibit the state from engage in bailouts, such as we have seen from the federal government in recent years.

The House Banking Committee is not scheduled to meet this week.

For more information on the Alabama legislature, contact LSCU Vice President, Legislative Affairs/Staff Counsel Will McCarty.   [ Return to Top ]

Washington news update
Congressional  Schedule
Both chambers return to Washington with full agendas this week. The Senate comes back to consider a bill that will extend unemployment benefits, COBRA subsidies, several lapsed tax breaks for small businesses, and other provisions. The House will return Tuesday to take up several bills under suspension of the rules. Wednesday the House will consider additional bills under suspension before considering H.R. 4247, the Keeping All Students Safe Act. The House is also expected to take action on the small business tax incentive bill passed by the Senate last week.

Committee Hearings
With the Senate Banking Committee preparing for the release of its regulatory restructuring legislation this week, and the House Financial Services Committee focusing on its budget views and estimate document, and debt relief for Haiti, there is only one hearing of note to credit unions this week. Tuesday the Senate Banking Committee Subcommittee on Economic Policy will hold a hearing entitled, "Restoring Credit to Main Street:  Proposals to Fix Small Business Borrowing and Lending Problems." CUNA will be submitting a statement for the record of this hearing.

A note on the Senate Regulatory Restructuring bill:  a new version is expected to be released this week. There has been wide speculation in the media that the draft will abandon an independent CFPA in favor of a consumer protection bureau at the Treasury Department. The details of the proposal have not yet emerged; further, it is unclear that a deal has actually been reached. An analysis of the proposal will be sent out when it becomes available.

Follow-up to last week's joint hearing of the House Financial Services Committee and House Small Business Committee
CUNA's testimony, presented by Ron Covey of St. Mary's Bank Credit Union, was well received by both committees. Rep. Nydia Velazquez (D-NY), the Chairwoman of the Small Business Committee, gave Covey the opportunity to emphasize the chief impediment to additional credit union business lending was not a lack of capital, but rather the statutory MBL cap. Rep. Kanjorski put fourteen of the letters generated from small businesses into the record of the hearing to help make the credit union case on the hill.

CUNA's testimony at this hearing can be found here. An archived webcast of the hearing can be found here.  

If you have any questions regarding these or any legislative issue, please do not hesitate to contact LSCU VP Legislative Affairs/Staff Counsel Will McCarty, at 205.991.9710 ext. 2137 or LSCU Vice President, Legislative Affairs Mark Landreth at 850.576.8171 ext. 1012.

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Compliance Corner
Newest Infosight newsletter now available

The latest issue of the Infosight newsletter is available on the LSCU Web site. This issue features an FAQ about the recently enacted Credit Card Act. The FAQs are quite lengthy and cover floor rates and change-in-term notices, to name a few. The issue also looks at a new Federal Reserve online publication that covers overdraft rules for debit and ATM cards and the board's new Web site covering Consumer's Guide to credit cards. The new Web site has resources that explain the recent changes to the Credit Card Act.

The Financial Crimes Enforcement Network (FinCEN) recently released a closer look at a foreclosure scam from the third quarter of 2009. The scam showed suspicious behavior by some loan modifications and foreclosure specialists. Two types of scams were the most widely reported.   

Click here to read this week's Infosight newsletter. It is password-protected. Click here to sign up for access if you have not done so yet. For Infosight questions, contact LSCU Vice President, Regulatory Affairs Bill Berg.
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Compliance calendar and training schedule

Regulatory Changes

February 27
Regulation CC - All Deposited Checks become Local (New Appendix A to Reg CC)

March 19
ACH Authorizations and Returns Rule - Effective Date

ACH Stop Payments and Regulation E Rule - Effective Date

April 1
Regulation Z - Escrow Requirement for "Higher Priced" Mortgages - Effective Date

Regulatory Training

March 2–23
CUNA Compliance Fundamentals eSchool

April 24–25
CUNA Compliance Fundamentals Seminar - Conference

April 25–30
CUNA Regulatory Compliance School: Introduction - Conference

April 25–29
CUNA Regulatory Compliance School: Update - Conference

May 5 & 12
Consumer Lending Regulations - Webinar
2:00–4:00 p.m. CST [ Return to Top ]

LSCU Education News
REGISTER NOW! for March 4 Bank Secrecy Act webinar

Register now to participate in the upcoming Bank Secrecy Act webinar being held this Thursday from 1:00pm - 2:30pm EST.

BSA compliance has been identified as a common weakness in credit unions during compliance audits and regulators have stated that this is an area that needs additional education.The webinar will focus on the specific rules and requirements related to the Bank Secrecy Act, such as member due diligence, anti-money laundering, CTR, and SAR issues.

This webinar is ideal for credit union CEO/management, regulatory, and compliance professionals.

Join your peers as Michigan Credit Union League and CUcorp attorney Veronica Madsen explains the credit union’s need for a BSA compliance program and provides an overview of the necessary requirements (internal policies and procedures, training and testing), relevant regulations and consequences of non-compliance.

For more information and to register, click here. Price per Internet connection is $169.
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Don't miss March IRA training workshops in Orlando, Birmingham

Don't miss this one or two day IRA workshop being held in both Orlando and Birmingham. Day one consists of IRA Essentials giving attendees a solid foundation of IRA knowledge. Day two builds on the learner's basic IRA knowledge to help them address in some of the more complex IRA issues.

The workshops are instructed by Ascensus IRA Training (formerly CUNA Mutual Group IRA Division) and are perfect for IRA direct credit unions. Drawings for complimentary webinars will also be held.

To learn more about the workshops and to register, click on the dates.

In Orlando:

  • March 16: 8:30 a.m. - 4 p.m. EDT, IRA Essentials, at the Orlando Airport Marriott
  • March 17: 8:30 a.m. - 4 p.m. EDT, IRA Advanced, at the Orlando Airport Marriott
In Birmingham:
  • March 30: 8:30 a.m. - 4 p.m. CDT, IRA Essentials, at Birmingham Marriott
  • March 31: 8:30 a.m. - 4 pp.m. CDT, IRA Advanced, at Birmingham Marriott
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Speaker Dave Timmons speaks on Six String Leadership at upcoming LSCU Leadership Council meetings scheduled in Alabama, Florida
Make plans to attend LSCU's Leadership Councils meetings coming up in Alabama and Florida featuring Dave Timmons, Leadership Artist, Speaker, and Author as he speaks on "Six String Leadership." See and click below for location, registration, and topic details. 

Tuesday, March 23: Fort Lauderdale 

Thursday, March 25: Jacksonville

Thursday, April 22: Birmingham

The Councils meet several times a year in locations across the state and provide members with the opportunity to network with their peers, discuss issues concerning their professions, share best practices and hear from experts in the industry.

Click here to learn more about LSCU's Leadership Councils. [ Return to Top ]

News from You
Insight Financial CU embarks on year-long celebration of 75th annivarsary

Insight Financial Credit Union is celebrating its 75th Anniversary and invites members to join in the festivities. 

Insight Financial Credit Union, founded in 1935 as Orlando District Employees Telco Federal Credit Union with 38 members, primarily served employees of the telecommunications industry. Today Insight Financial has grown to more than 57,000 members from a variety of corporations and counties throughout Central Florida.

The first Friday of the month, all Insight Financial locations are hosting a celebration of its 75th year with refreshments and giveaways. Members and non-members are invited to come celebrate this milestone and the credit union difference. Members are also invited to share their stories of how Insight Financial has helped them celebrate special moments in their life. Visit https://insightfinancialcu.com for more information. [ Return to Top ]

Alabama Telco breaks ground at new Dothan location

The Birmingham-based credit union started construction, recently, on a branch in Dothan, AL.

Robby Clark, manager of the medical center branch, said the new branch store will still be convenient for members but also will attract new members from the Dothan community.

The branch will have two drive-thru lanes and a walk-up ATM. Alabama Telco will continue to operate two ATMs in the medical center. The new location is scheduled to open in late summer 2010.

Alabama Telco Credit Union recently broke ground for their new location in Dothan, AL.
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Power Financial Credit Union delivers Valentines to hospitalized kids
Thanks to the efforts of Power Financial Credit Union in partnership with a group of elementary school students from Montessori Institute of Broward County in Davie, FL, the children at Joe DiMaggio Children's Hospital received special Valentine's Day cards and the opportunity to make their own Valentine cards with Rocky Raccoon.
 
Allan Prindle, President and CEO of Power Financial Credit Union, was on hand to assist the children with the arts and crafts for the third year in a row. This is an ongoing part of the Credit Union's corporate culture to reach out to the community and assist those in need.

Allan Prindle, President/CEO of Power Financial Credit Union and Katie Maltby, Child Life Specialist, Joe DiMaggio Children's Hospital with Rocky Racoon.

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Coosa Pines FCU sponsored new scoreboard at local baseball field

Director Mack Lee and Branch Manager Aimee Morris represented Coosa Pines Federal Credit Union at Childersburg High School's first home game of the county baseball tournament on Wednesday night. The credit union was recognized before the game by Childersburg Sports Foundation President Trey Cleckler for the sponsorship of a new scoreboard at Garland Justice Field.

The new scoreboard was one of many improvements to the complex achieved through the Field of Dreams campaign, led by the Foundation and supported by many businesses and members of the community.

Director Lee had the honor of throwing out the ceremonial first pitch in Childersburg's game against Sylacauga High School.

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Naheola Credit Union gives to local school

Naheola Credit Union CEO Mark Johnson and Branch Manager Justin Watson presented a check in the amount of $4000.00 to Satsuma High School to place badly needed windscreens on the athletic field fencing.  Principal, Deborah Altman and Athletics Director, Steven Cochran accepted the check on Satsuma High School’s behalf.

“Without the support and dedication of business like Naheola Credit Union to our school and community, we would not be able to provide the resources nor the opportunities to our students,” said Deborah Altman, principal of Satsuma High School.

  From left to right, Justin Watson, Deborah Altman, Mark Johnson,
  and Steven Cochoran


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Credit Union Job Postings
Credit union employment opportunities posted online

Click here to view credit union-specific job opportunities in Alabama and Florida. [ Return to Top ]

Calendar
Schedule of Events
March 4, 1pm - 2:30pm (webinar)
 
IRA Essentials Workshop Orlando
March 16, 8:30am - 4pm (workshop)

Organic Growth: Frontline
March 16, 1pm - 2:30pm, (webinar)

IRA Advanced Workshop Orlando
March 17, 8:30am - 4pm


 
Leadership Councils
Tuesday, March 23, 2010  Fort Lauderdale, FL

Thursday, March 25, 2010 Jacksonville, FL

Thursday, April 22, 2010 Birmingham, AL
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