Credit unions finish district meetings and now head to D.C.
Rep. Allen Boyd visit
With federal lawmakers home last week for the Memorial Day holiday,
LSCU credit unions made visits in Alabama and Florida to lay out how the
interchange amendment in the Senate bill would adversely affect members
and consumers. Florida panhandle credit unions met with Rep. Allen Boyd
(D-FL) for 30 minutes Thursday. Rep. Boyd was very engaged in the
conversation and asked the various credit unions leaders from Florida
Commerce, Tyndall, Envision, and Community South how this amendment would
impact members. Jim Warren, Tyndall CEO, told Rep. Boyd about the
monetary commitment it takes to run a card business and the risks
involved. Cecilia Homison, Florida Commerce CEO, put it best, "We stand
between the merchant and that risk."
LSCU credit unions made a
number of other visits during the week including 45 minutes with the
Ranking Republican on the House Financial Services Committee Spencer
Bachus (R-AL). Attention now turns to Washington D.C. and this week's
Hike the Hill on interchange.
Credit unions are also
urged to continue asking staff, board, members, and friends to call their
lawmakers and let them know interchange will be harmful to members and
consumers. Call 877.223.5275 and put in your zip code and the service
does the rest. Credit unions can also contact their lawmakers through
email by clicking
. It's also an easy process to put in just a couple of entries and
capwiz does the rest. Rep. Barney Frank (D-MA) has said that the
conference to work out the differences between the House and Senate
bills will be a quick process.
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Credit unions pulling out the stops on interchange; so is the other side
If the time table Rep. Barney Frank (D-MA) set for regulatory reform - discussions by June 15 and the bill reconciled in the House and Senate by June 30 - then credit unions have an extremely short window to attempt to defeat the interchange amendment. As of Friday, more than 200,000 calls and emails have gone to lawmakers from credit unions with more than 4,000 of those coming from Alabama and Florida. Many credit unions are showing their innovation by going directly to members.
Community First Credit Union in Jacksonville, FL sent an email to members giving them a brief overview of how the interchange amendment will affect its ability to offer a card program. The email also pointed members to click on Capwiz to send an email, while all of the area's federal lawmakers' phone numbers were listed. Alabama Teachers Credit Union in Gadsden, AL took a similar approach.
Alabama Credit Union in Tuscaloosa, AL went directly to the membership. President and CEO Steve Swofford sent an email to 15,000 members. He and his managers also took on the task of calling 100 members personally.
The retailers have also come at the interchange issue with a full assault on lawmakers. Speedway SuperAmerica LLC presented 1.68 million
signed petitions to Washington in favor of interchange fees regulation. The latest
wave of petitions brings 5.4 million to the number of consumer signatures
convenience store chains have collected since 7-Eleven Inc. asked customers to sign up in
favor of interchange regulation last summer. 7-Eleven ended up with almost 1.7 million petitions, delivering them to
Congress last fall in a high-profile effort to influence lawmakers
The petitions are being delivered just as conferees are slated to begin next week hammering out
financial-services reform legislation based on bills in the House of
Representatives and the Senate. The Senate version contains an amendment calling
for regulation of debit card interchange.
As you can see credit unions need to use all of their creativity to let their federal lawmakers know the interchange amendment will be detrimental to members and their ability to issue cards.
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Register for the AC&E before it's too late
This is the last week to register online for the LSCU's 1st Annual Convention and
Exposition (AC&E) to be held in
Orlando June 16-18. Online registration will close June 11 at 5 p.m.; however, on-site registration is available beginning Wednesday, June 16, at 7:30 a.m. ET. There are also single day pricing options for Thursday, June 17, and Friday, June 18. Click here to view the details.
The LSCU Convention &
Exposition website contains complete information on all aspects of
the event including the Schedule-at-a-Glance, keynote
speaker descriptions, guest
and off site events, exhibitor
information, and more! Among the highlighted events:
Political Commentators Tucker Carlson & Paul Begala
If you would like to register, click here.
However, this is a member-only event so you must sign in on the website to
register for the AC&E and to view certain information. If you have
not signed up for website access, click here. By
having a username and password,
you also gain access to member-only parts of the website including
governmental affairs and regulatory and compliance areas. Once you
register, a confirmation email will be sent to the email address you
signed up with. It's important that you check your spam filter if an
email does not arrive within a few minutes.
For any questions about the
AC&E and registering for the event, contact LSCU Vice President,
Education Joy Breedlove at
205.991.9710 ext. 2162.
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AC&E attendees will get a full vendor exposition
Excitement is building for the
Annual Convention & Expositionin Orlando on June 16 –
18. There will be over 130 sponsors and exhibitors at this year’s
event offering attendees the opportunity to learn more about all of the latest
products and services for credit unions.
“To have a full exhibit
hall says a lot about the first LSCU AC&E,” said LSCU President/CEO Patrick
La Pine. “Vendors are showing that they value the business they do with credit
unions in Alabama and Florida. Plus, they see
the AC&E as a trusted venue for networking with credit unions.”
The LSCU's exhibitors and sponsors play an
important role in the AC&E – the dollars they contribute allow us to
provide the best speakers, high quality events and an overall great
learning and networking experience. There will be ample time to
walk through the Exhibit Hall and network with exhibiting and sponsoring
companies to find solutions that can help your credit union meet the needs of
your credit union and its membership. Please remember to take a few moments to
thank the exhibitors and sponsors for their support of the 1st LSCU AC&E.
Mark Meyer audio podcast previews his AC&E session
Over the past five weeks, the LSCU has been previewing the AC&E with innovative audio podcasts. This week the podcasts turn to some of the education sessions at this year's convention. Filene Research Institute CEO Mark Meyer talks with LSCU Vice President, Communications Mike Bridges about a variety of topics including how much Filene's research depends on credit unions. Meyer also talks about his education session on consolidation and collaboration. In fact he says credit unions need to know his four C's.
Access the podcast by clicking on the LSCU homepage at www.lscu.coop and looking for the AC&E preview podcasts on the left. The podcasts are streaming MP3 audio, there is nothing to download. Also listen to other audio podcasts from keynote speaker Tucker Carlson, LSCU CEO Patrick La Pine, CUNA CEO Dan Mica, and REAL Solutions Program Manager Lois Kitsch. If you have any problems listening to the audio podcast, contact Bridges at 866.231.0545 ext. 1022.
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LSCU Compensation Survey is looking for more participation
A report based on a survey is only as good as the participation rate. The LSCU Compensation Survey has been open nearly two weeks and the initial response has been great. However, more credit unions are needed to ensure the final report gives an accurate portrayal of credit unions in Alabama and Florida.
The LSCU has contracted with HR Value Group to conduct an annual
compensation and benefits survey. The survey is designed to
encompass a wide range of salaried positions and benefits. As noted
above, the early returns are that the survey is meeting its mark, it's
easy, and beneficial.
Every credit union
that completes the survey will receive a complimentary PDF copy of the
LSCU 2010 Compensation and Benefits Report.
The online survey should take about 30 to 45 minutes
to complete depending on the size of your credit
union. To access the survey online, click
here or cut and paste the following link into your browser:https://vovici.com/wsb.dll/s/1d74g44de7.Click
here to download a PDF of the survey to work on at your convenience
before entering the data
the online survey.
The detailed report summarizing results will be available in
September and will outline salaries paid to management and
analyze the salaries separately by asset size and chapter, and summarize
responses to the benefits questions.
No one outside of HR Value Group will see any
individual responses; all information is kept confidential. Surveys must
completed and submitted by June 14, 2010. Every credit
is very important to the success of this survey as credit unions from
use this data as one source to help determine how to structure salary
If you have any questions or problems accessing
the survey, contact
LSCU HR Manager Liz Aperauch at 866.231.0545,
Member Survey will be emailed to credit unions this month. Member credit unions will
be asked to complete a short online survey that will help the LSCU gauge how
its doing as well as improve service to credit union members. The survey will take about 20 minutes to complete. It is completely anonymous. More information about the Member Survey will be emailed to credit unions this week.
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LSCU welcomes Redstone FCU as an affiliated credit union
The LSCU welcomed Redstone Federal Credit Union as an affiliate. The Huntsville-based $2.6
billion credit union, the largest in Alabama,
rejoins the league after a seven-year absence. Redstone’s reaffiliation means the LSCU and CUNA are gaining
the expertise of one of the largest credit unions in the country.
“We’re excited to have
Redstone reaffiliate,” said LSCU President/CEO Patrick
La Pine. “The experience of CEO Joe Newberry and his staff is
invaluable. The amount of lobbying, innovative lending, and trust the Redstone
name brings to the credit union movement will only enhance all of our credit
unions in Alabama and Florida.”
“Redstone Federal Credit
Union is proud to be associated with the League of Southeastern Credit Unions,”
said Joseph H. Newberry, president and CEO of Redstone. “Under the leadership
of Patrick La Pine, the LSCU will be doing great things for the credit union
movement over the coming years and Redstone is excited to be a part of
this. At Redstone, we look forward to playing an active role within the
league to help ensure the continued vibrancy and growth for the credit union
The reaffiliation with the
LSCU also provides CUNA with additional resources. This will certainly be useful with the amount of legislation being discussed in Washington D.C.
that could affect credit unions.
In recognition of individual contributions made to LSCU
FEDPAC (Federal Political Action Committee), ACULAC (Alabama Credit Union Legislative Action Committee), and CUPAC (Credit Union Political Action Committee) donors will receive a Donor Recognition Pin (see below). This pin
will serve as a visible symbol of the donor’s personal commitment to the credit
The purpose of this program is to promote the importance of
supporting credit union advocacy through contributions to LSCUs
Committees. This year’s program will kick off at the LSCU Annual
Convention and Exposition June 16-18.
Donors will be encouraged to wear these pins at all credit
union activities and encourage their peers to do the same.
Anyone interested in making an individual contribution to
LSCU’s Political Action Committees can contact LSCU Grassroots & Political Action Coordinators Justin Thames or Robbie
primary elections in Alabama were held this past Tuesday and there were a number of
surprises. In the race
for Governor, Agriculture Commissioner Ron Sparks won the Democrat nomination
over U.S. Representative Artur Davis. On the Republican side, no candidate
achieved more than 50 percent, which means there will be a runoff July 13 between Bradley
Byrne and either Tim James or State Rep. Robert Bentley. As of Monday
morning, James is reportedly ahead by 200 votes, but the final outcome will not be known until later this week.
In the two
contested Congressional races, incumbent U.S. Rep. Parker Griffith was
defeated by Mo Brooks who will go on to face Steve Raby, the former Chief of
Staff to Alabama Sen. Howell Heflin. In the 7th Congressional
District, State Rep. Earl Hilliard Jr., who was supported by CULAC,
came in third. Shelia Smoot and Terri Sewell will face off in a runoff
A number of
State House and Senate races were decided since there will be no general
election for a number of seats. Several of these candidates were supported by
the Alabama Credit Union Legislative Action Council (ACULAC), the LSCU's state PAC.
Here are the Senate Race results:
Irons – won the Democrat nomination for the 1st Senate District and
will face Gerald Freeman in the general election.
French – Three term incumbent who lost in the primary to challenger Slade
Beason – won the Republican Primary, and is unchallenged in the general
Here are the House
Rep. Johnny Mack Morrow,
Rep. Mike Hill, Rep. Demetrius Newton, Rep. Merika
Coleman, Rep. James Buskey, and Rep. Jim Barton all won
their primary races and are unopposed in the general election
either retirements, members vacating seats to run for other office or the
defeat of incumbents in the primary, as of now there will be at least eight new
members of the 35 seat Alabama Senate and at least 16 new members of the 105
seat House of Representatives. There are a number of runoff elections to be
held July 13 before the general election in November. The League
will be involved in a number of races, on the federal and state level,
as it works with candidates moving into the general
For questions about the Alabama elections, contact LSCU Vice President, Legislative Affairs/Staff Counsel Will McCarty at 866.231.0545 ext. 2137.
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NCUA reports fraud email phishing activity
The National Credit Union Administration (NCUA) reports recently simulated NCUA email boxes. The fraudulent emails solicit credit union member participation in an online survey or member survey, and promise compensation of $40 as an inducement to respond to the email.
The emails are fraudulent and may be an attempt to obtain confidential member information. NCUA does not solicit such information from credit union members. This is a phishing activity with no NCUA activity or approval. If you have received these emails, do not respond. If you have any questions or concerns, email NCUA at email@example.com.
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League InfoSite has final clarifications on two overdraft rules
Federal Reserve Board announced final clarifications to aspects of its
November 2009 final rule under Regulation
E (Electronic Fund Transfers) and its December 2008 final rule
DD (Truth in Savings) pertaining to overdraft services.
final clarifications address questions that have arisen and provide
further guidance regarding compliance with certain aspects of the final
overdraft rules. In particular, the final clarifications explain that
the prohibition in Regulation E on assessing overdraft fees without the
consumer's affirmative consent applies to all institutions, including
those with a policy and practice of declining automated teller machine
(ATM) and one-time debit card transactions when an account has
insufficient funds. The final rules also make certain technical
corrections and conforming amendments.
League InfoSight also has the latest on credit unions conforming to "Red Flag" Rules. At
the request of several Members of Congress, the Federal Trade Commission
is further delaying enforcement of the “Red Flags” Rule through
December 31, 2010, while Congress considers legislation that would
affect the scope of entities covered by the Rule. Today’s announcement
and the release of an Enforcement Policy Statement do not affect other
federal agencies’ enforcement of the original November 1, 2008 deadline
for institutions subject to their oversight to be in compliance.
View the League InfoSight newsletter by
clicking here. It is a password-protected area. Member credit
that do not have a
password, may click here
up for one. An active email
account and a password
are required. To log in to InfoSight, enter your email and
password in the InfoSight login block (see graphic below) located in
upper right of any of the LSCU web pages.
CO-OP Miracle Match offers $1 million for Children's Miracle Network fundraisers
CO-OP Miracle Match is managed by
CO-OP Financial Services on behalf of its 3,000 member credit unions.
program awards $1 million in matching funds annually for Credit Unions
events, proceeds of which go to local children’s hospitals in the
The credit union industry is currently the third
contributor to Children’s Miracle Network. During the 2009 program year, the top
fundraising credit union produced $45,000 in funds, added to which was
in miracle match funds.
“The CO-OP Miracle Match program
is a natural extension of the people-helping-people model of the credit union
movement,” said Stan Hollen, President/CEO of CO-OP Financial Services, and a
member of the Children’s Miracle Network’s Board of Governors. “We are looking
forward to working with industry partners to do even more in 2010 to help
Krystal Navarre, auditor for CU-ACE, earns CUCE designation
Krystal Navarre, auditor for CU-ACE, is a Credit Union Compliance Expert (CUCE). To earn the
Compliance Expert Certificate and CUCE designation, students are required to pass a proctored exam for each of the
first five modules in this six module series offered through CUNA’s
Regulatory Training & Certification Program (RegTraC). RegTraC is the credit union movement’s
premier training and certification program.
Navarre, who celebrated
her one-year service anniversary with CU-ACE on May 4, 2010, works
primarily with credit unions in South Alabama.
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News from You
Tampa Chapter presents Florida Credit Union Foundation scholarships to four students
Cassie Hoffman, Pasco High School and Patty Sarne, San Antonio Citizens FCU
League of Southeastern Credit Unions, through the Florida Credit Union
Foundation, awarded a total of 33 scholarships to students throughout the State
of Florida. The
Tampa Chapter of Credit Unions was privileged to present four of these
scholarships at local high school awards ceremonies during the months of May
and June. The $1,500 scholarships may be used to assist with the tuition, room
and board, or books at any Florida
four-year university or community college.
were awarded to four students from Hillsborough and Pasco Counties:
Livesay, East Bay High School
Greene, Thomas Jefferson High School
Lynn Hoffman, Pasco
James Robinson, Dr. Earl J. Lennard High School
Florida Credit Union Foundation Scholarship Program was developed to promote
academic achievement, support community involvement, and enhance community
awareness to students in Florida.
For more information about the
Foundation, visit www.lscu.coop.
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CFE Federal Credit Union honors student achievers
Federal Credit Union in partnership with Joie Cadle, Orange County School Board
Chairman, District 1, and Dr. William Gordon, Principal of Winter Park High
School (WPHS) honored 14 students for outstanding achievement at
a breakfast ceremony hosted by WPHS.
were recommended by the principals of their schools to receive the Outstanding
Achievement Recognition Award (OAR). The award recognizes students from 15 area schools, who do their
best every day to be good citizens and helpers at school and in the
community. They are responsible
students, and value cooperation and teamwork.
Joseph A. Melbourne, Jr., President and CEO of CFE said: “The young people being recognized today are
all examples of the wonderful generation that will accomplish unbelievable
things in the future.”
Board member Cadle recounted each student’s achievements as they were presented
with a framed certificate, medallion and $100 from CFE. The honorees’ parents and principals were
invited to be at the breakfast, which was prepared by students of the WPHS
A. Melbourne, President and CEO of CFE with students who won the Outstanding
Achievement Recognition Award and on the right, back row, Dr. William Gordon, Principal of WPHS, and right, front row,Joie Cadle, Orange County School Board Chairman.
Alabama Telco Credit Union presents award for community service
Kelly West of Oak Mountain
High School was selected
as the recipient of Alabama Telco Credit Union’s 2009-2010 Community Service
Scholarship. She was awarded $1,000 with $500 going to the charity of her
choice, American Cancer Society’s Relay for Life (Oak Mountain).
West was selected for her extensive community involvement (225 community
service hours) and exemplary essay detailing her work with Hope Lodge, where
patients receive cancer treatments and use art as therapy. West graduated from Oak Mountain
High School in May and plans to attend
Auburn University in the fall.
The contest called upon Alabama
Telco members between the ages of 16 and 25 with a checking account in good
standing and 50 hours or more of community service within the 2009-2010 school
year to write an essay discussing what community service means to them. Essays
were judged on content, expression and overall impact.
“Community service is a big part of
who we are as a credit union. Our Community Service Scholarship is another way
we can encourage and applaud young adults who realize the importance and need
to give back to their community,” states Alabama Telco’s President and Chief
Executive Officer, Linda Cencula.
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floridacentral CU breaks ground for new service center
floridacentral Credit Union, headquartered in Tampa, Florida,
recently held a ground breaking ceremony to celebrate the construction of its
new full-service center in the heart of downtown Bradenton. The new facility
will not only serve the more than 6,000 members and 200 SEGs in Bradenton, but
will also bring affordable financial services to near-by underserved areas.
“Many of you have supported us since the very beginning, when
a small Tampa-based credit union with assets of only $9 million looked to this
wonderful community, just south of the Greater Tampa Bay area, in which to grow
and expand”, said President/CEO Laida Garcia to those in attendance.
floridacentral CU staff and a number of community leaders, including representatives from
office of U.S. Congressman Vern Buchanan, gathered for the ground breaking.