LSCU eSignal Weekly
LSCU eNews Weekly September 13, 2010
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LSCU eNews Weekly
In This Issue
LSCU Headlines
Congress resumes consideration of the Small Business Lending Fund Act this week
The American Spectator: Udall amendment should be added
LSCU meets with Sen. LeMieux on MBL
NCUA to miss deadline for corporate restructuring rule and legacy assets plan
Last week to enter drawing for free LSCU conference registration
Governmental Affairs
ACULAC and CUPAC political endorsements
Washington Update includes transaction tax update
ACULAC Trustees talk with both AL gubernatorial candidates last week
Florida Roundup: CUs needed to host political candidate events
NW Chapter of Credit Unions recognizes candidates at golf tournament
CUNA News
2011 CUNA GAC Feb. 27 - March 3 in Washington D.C.
CUNA warns of HELOC fraud
International Credit Union Day
E-stuffer available for ICU Day - Save $150
Compliance Corner
Comment Call: Interim Final Rule Low-Income definition amended
Second quarter Custom Performance Reports recently sent
Compliance Calendar and Training
Cooperative Initiatives News
Free Foreclosure Prevention Workshop THIS WEEK
Center for Financial Services Innovation launches new grant to help consumers with finances
Collections & Bankruptcy School: Reel in your delinquencies
LSCU Development Conference features top-notch education sessions
Education News
SCUMA Annual Conference Sept. 22-24, 2010
Education Calendar
LEVERAGE NEWS
LEVERAGE partner CUNA Mutual offers free online Discovery Conference
CO-OP Financial Services Ad Lab has new consumer marketing campaigns
New date for armored car services ePurchasing event
News from You
Alabama Telco CU receives Golden Mirror Awards
Alabama's DCH CU collects items for local school
AL Teacher's CU offers interest-free loans to help teachers buy supplies
Employment
Credit union employment opportunities posted online
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LSCU Headlines

Congress resumes consideration of the Small Business Lending Fund Act this week

After a six week district work period, Congress returns to Washington this week to begin to wrap up its legislative business for the year. The Senate comes in Monday to consider a judicial nomination. Tuesday they will resume consideration of H.R. 5297, the Small Business Lending Fund Act. The House will consider bills under suspension of the rules on Tuesday and Wednesday.

It is expected that the Senate will take several votes related to the Small Business Lending Fund Act on Tuesday, including votes on a motion to invoke cloture on an amendment offered by Sen. Mike Johanns (R-NE), to repeal the expanded 1099 reporting requirements passed as part of the Obama Health Care bill. This motion is not expected to be successful, and if it fails, the Senate will vote on cloture of an amendment offered by Sen. Bill Nelson (D-FL) on the same subject. If this motion succeeds, the Senate would proceed to as much as 30 hours of debate on the Nelson amendment; the Senate will then most likely proceed to a vote on the motion to invoke cloture on the Baucus-Landrieu-Reid substitute amendment. The vote on this motion is the key vote because if it is successful, the path is essentially clear for the bill to pass the Senate before the end of Thursday without further amendment. It appears from press reports that there are at least 60 votes in favor of the small business bill, assuming some form of 1099 relief is included. 

The procedural path for consideration of the Udall amendment to increase the credit union MBL cap continues to be very difficult.  Passage of cloture on the substitute amendment would essentially block additional amendments from being considered. 

Nevertheless, the LSCU continues to encourage the Senate to consider the Udall amendment increasing the MBL cap. In a procedural move to remain technically eligible for consideration, it is expected that Sen. Udall will refile his amendment Monday. As this situation unfolds, Governmental Affairs will continue to keep LSCU members updated.

CUNA's former President/CEO Dan Mica and current President/CEO Bill Cheney had an important meeting last week with Senate Majority Leader Harry Reid (D-NV) to discuss the prospects for member business loan legislation in the Senate. In a statement sent to the LSCU Cheney writes, "we made all of our points and, after some back and forth with the Majority Leader, I believe the door remains open, and that this could prove to have been a pivotal meeting ... It is imperative that we continue to get calls of support from other Senators directly to Sen. Reid."

The LSCU encourages all members to take a moment today to contact their two U.S. Senators to request Majority Leader Reid continue his commitment to co-sponsor Sen. Udall’s MBL amendment:

Sen. Bill Nelson (FL)             202.224.5274
Sen. George LeMieux (FL)   202.224.3041

Sen. Richard Shelby (AL)    202.224.5744
Sen. Jeff Sessions (AL)      202.224.4124

The LSCU has a Member Business Lending and Interchange Fees Resource area available on the LSCU website.

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The American Spectator: Udall amendment should be added

The monthly conservative, political news magazine, The American Spectator, published a timely article that explains why GOP senators should insist on Sen. Udall's amendment coming to a vote.

The article points out how this week presents an opportunity for Republicans to show they are on the side of small entrepreneurs. The article explains that in July, Sen. Mark Udall (D-CO) introduced an amendment that would raise the government's current cap on the amount of business loans credit unions can make from 12.25 to 27.5 percent of a credit union's assets. The measure does not change the safety and soundness requirements credit unions must adhere to and in fact introduces new criteria they must meet to show financial strength. Senate Majority Leader Harry Reid and the Obama administration initially expressed support for the measure. They have since waffled about whether the amendment would be allowed a vote -- probably at the behest of banking associations that fear the competition. Click here to read the full article. [ Return to Top ]

LSCU meets with Sen. LeMieux on MBL

LSCU President/CEO Patrick La Pine, LSCU Governmental Affairs Committee members Mary Wood and Larry Tobin, and LSCU member Art Wood, met with Sen. George LeMieux at the Republican Party of Florida’s Victory Dinner last Friday to discuss Member Business Lending. The Senator agreed to work with Sen. Udall to add an MBL amendment to the Jobs bill (HR 5297) now under consideration by the Senate. Sen. LeMieux agreed to contact Majority Leader Harry Reid to voice his support and agreed that more business lending is something credit unions should be able to provide. Sen. LeMieux indicated that he didn't see why credit unions should not be able to lend money given the current state of the economy. The Senate is scheduled to hold several votes related to this bill on Tuesday and could pass the Senate sometime this week.

Left to right: LSCU President/CEO Patrick La Pine; FL Sen. George LeMieux; Fairwinds CU President/CEO Larry Tobin; FL West Coast CU President/CEO Mary Ott-Wood; and Railroad & Industrial FCU President/CEO Art Wood

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NCUA to miss deadline for corporate restructuring rule and legacy assets plan
The National Credit Union Administration (NCUA) announced that new corporate credit union rules and legacy assets proposals would not be released at the Sept. 16 open meeting as previously scheduled, but rather, those matters would be considered at a later date. NCUA spokesman John McKechnie issued a news release stating, "The NCUA board has decided to consider these issues at a meeting in the near future."

The NCUA recently communicated to senior-level CUNA staff members that greater work is needed before the corporate credit union and legacy asset issues are ready to be released.

With the corporate and legacy asset issues absent from the agenda, the main issue of concern to credit unions will likely be the establishment of the National Credit Union Share Insurance Fund (NCUSIF) premium. The NCUA is levying the assessment to rebuild the equity level of the NCUSIF, which was depleted due to multiple credit union failures.

Implementation of the recently enacted financial regulatory reforms will also be discussed, and the NCUA's monthly report on the state of its share insurance fund according to the NCUA release. Delegations of authority as well as supervisory activities will be discussed by the board during the closed portion of the meeting.

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Last week to enter drawing for free LSCU conference registration

Member credit unions are being asked to complete the LSCU's Education Survey to help improve educational programs in the future. 

The short survey takes less than 10 minutes to complete, and candid answers will help the education department ensure they are meeting the education and training needs of all member credit unions.

As an added bonus, all survey submissions will be entered into a drawing to win a choice of either one complimentary 2010 LSCU Development Conference Registration or one complimentary 2010 LSCU Collections & Bankruptcy School Registration. The survey will remain open until September 15, 2010. Drawing for free registration will take place on Friday, September 17, 2010, and winners will be notified via email. Click here to get started. [ Return to Top ]

Governmental Affairs
ACULAC and CUPAC political endorsements

The LSCU Government Affairs Committee and PAC Trustees have endorsed candidates for the 2010 fall elections. The list of endorsements can be found listed in the LSCU website (under Governmental Affairs/Legislative Advocacy/PAC) by clicking here. This is a password-protected page therefore, you must be a registered user of the LSCU website to view it. If you are a member of the LSCU and haven't signed up for website access, click here.

All endorsements by the PAC Trustees are based on criteria reviewed by LSCU staff and the PAC Trustees.  The criteria include:

  • Support for credit union philosophy and legislative issues as demonstrated through completion of candidate questionnaire
  • Voting record on credit union issues
  • Accessibility to credit unions
  • Attendance at credit union events
  • Membership in key committees and/or party leadership
  • The historical relationship with the LSCU and credit unions
The LSCU staff and PAC Trustees continue to hold meetings with candidates for office, to educate them about credit union issues, to assess their position, and to determine support. The endorsement list will be updated regularly in the coming weeks.

All credit unions are urged to look at the list of endorsed candidates before the November 2 election.  [ Return to Top ]

Washington Update includes transaction tax update

On Wednesday, the House Financial Services Committee Subcommittee on Capital Markets will hold a hearing entitled, "The Future of Housing Finance:  A Progress Update on the GSEs." Treasury Assistant Secretary for Financial Institutions Michael Barr and Federal Housing Finance Authority Acting Director Edward DeMarco will testify.

Earlier this year, both chambers set October 6 as their target adjournment date. Regardless of whether October 6 is the actual adjournment date or whether there is lame duck session of Congress (more likely), much will be left undone when Congress leaves town in a few weeks to campaign. 

After the Senate completes the small business bill, it is expected they will consider whether to extend the Bush-era tax cuts set to expire at the end of the year, as well as a continuing resolution to fund the government past October 1. The tax bill could occupy most of the Senate's remaining time, leaving many issues -- including defense authorization, food safety, climate change legislation, and FAA re-authorization -- unresolved. At this time, it is not clear what issues beyond the appropriations bills may be considered in a lame duck session.   

There have been a number of inquiries regarding H.R. 4646, the Debt Free America Act. This legislation, which was introduced on February 23, 2010, would impose a one-percent transaction tax on most transactions, including transactions with banks and credit unions. There has been a lot of internet traffic suggesting that enactment of this proposal is imminent; however, the LSCU and CUNA do not believe that to be the case. This legislation has a single sponsor in the House; no other members have cosponsored this legislation. Additionally, the legislation has been referred to four House committees; no action on this legislation is scheduled before the end of the year. 

Finally, the recent report from the President's Economic Recovery Advisory Board did not include a transaction tax among the options to raise revenue and address the federal budget deficit. While the LSCU keeps an eye on this legislation, is not expected to move any time soon, if ever.

For any questions regarding these or any legislative issues, contact the LSCU Governmental Affairs staff at 866.231.0545  Will McCarty ext. 2137 or Mark Landreth ext. 1012.

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ACULAC Trustees talk with both AL gubernatorial candidates last week

Bill Willard (l), Board Member of Family Savings CU, greets Dr. Robert Bentley

Last week in Alabama, Dr. Robert Bentley, Republican Candidate for Governor visited Family Savings Credit Union in Gadsden to meet with staff and board members of area credit unions and to also hold a conference call with the ACULAC Trustees. ACULAC is the state political action committee for credit unions in Alabama. During the meeting, Bentley spoke highly of credit unions and the work they do to serve people around the state. 

Citing his platform of job creation and economic recovery, Bentley pointed out that credit unions have a vital role to play to increase the flow of money to consumers and small businesses. He stated that during eight years in the Alabama Legislature, he always supported credit unions and that his door has been open to discussing issues that are important to the credit union industry. Throughout the meeting, Bentley demonstrated his knowledge of the credit union difference. He was very positive about how they create value for their members.

Also last week, Alabama's Agriculture and Industries Commissioner Ron Sparks, Democrat candidate for Governor, met with the ACULAC trustees by phone to discuss credit union issues. During the call, Commissioner Sparks spoke highly of the work credit unions do, pointing out that he has been a credit union member for years. When asked about the credit union tax exemption, he stated that he would not want to take away anything credit unions already have. Like Bentley, he recognized the unique nature and structure of credit unions, and the value they bring to their members.


Ron Sparks (right) and Monte Hill, CEO of Family Savings CU

Both meetings with the gubernatorial candidates were positive and both spoke highly about credit unions. Last Friday, the ACULAC Trustees sent a summary of the meetings to all Alabama credit unions, and asked for their feedback on this important race. The LSCU thanks everyone who has responded. The ACULAC Trustees look forward to hearing from more of you. [ Return to Top ]

Florida Roundup: CUs needed to host political candidate events

With the Florida Primary Election over, the LSCU Governmental Affairs staff is busy working with chapters and credit unions in setting up host candidate events. These events are  important in communicating the credit union difference to those running for public office. Over the next two months, LSCU's Florida-based GA staff, Vice President, Legislative Affairs Mark Landreth and Grassroots and Political Action Coordinator Justin Thames, will travel the state making contact with candidates and incumbents to deliver campaign contributions. The GA staff is looking to partner with individual credit unions and chapters interested in participating in the political process and use those credit unions and chapter meetings to make the contributions. For candidates and incumbents, the visits and events are their first exposure to credit unions. If your credit union or chapter is interested in hosting a candidate or a candidate event, contact Thames at 866.231.0545 ext. 1010.

Around the state, the Florida Cabinet meets early this week. Among the topics for consideration is an update by the Department of Environmental Protection on the Deepwater Horizon Oil Spill. The LSCU has an Oil Spill Resource area for the latest news and resources to help members file a claim. 

The Legislative Budget Commission considers an issue with significant ramifications. They must vote to have Florida accept billions in federal aid for schools and health care that will help the state's budget. Two other items expected this week: Friday, the state will announce new unemployment numbers and Florida's lawsuit against the federal health care overhaul will get its first full hearing before a federal judge. It's likely to attract a fair amount of attention.

Candidates for state and legislative offices have until midnight on Friday to turn in campaign finance reports. Candidates for Governor and the Cabinet must turn in reports that cover donations and expenses from Sept. 4 to Sept. 10. Legislative candidates and political committees must turn in reports that cover the period from Aug. 20 to Sept. 10. [ Return to Top ]

NW Chapter of Credit Unions recognizes candidates at golf tournament

In conjunction with their annual chapter golf tournament, the LSCU Northwest Chapter of Credit Unions recognized candidates and legislators supported by the LSCU PAC Trustees. Rep. Greg Evers (Rep. candidate for State Senate District 2), Doug Broxson (Rep. candidate for State House District 1), Clay Ingram (Rep. candidate for State House District 2) and Rep. Clay Ford (Rep. State House District 3) were all presented with a contribution from the Florida CUPAC. Golfers were able to sit down with the candidates before and after the tournament to discuss credit union issues.


L to R: Rep.Clay Ford-R, Candidate Doug Broxson-R, FL State House Dist. 1, and LSCU Grassroots and Political Action Coordinator Justin Thames


LSCU's Thames and Rep. Evers

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CUNA News
2011 CUNA GAC Feb. 27 - March 3 in Washington D.C.

CUNA’s Governmental Affairs Conference (GAC) is scheduled for February 27 through March 3, 2011 at the Washington Convention Center in Washington, DC with Capitol Hill visits on Wednesday and Thursday of that week.

CUNA’s has revised the schedule to allow additional opportunities for visits with members of Congress. CUNA is suggesting to make travel arrangements to return home no earlier than Thursday afternoon.

The LSCU will host a “Welcome Reception” on Sunday evening (Feb. 27) along with “hospitality” events planned for Monday, Tuesday, and Wednesday where the latest political, legislative, and Hill visit information will be disseminated.

Registration for the conference and rooms will be open soon. Plan to make reservations as early as possible. [ Return to Top ]

CUNA warns of HELOC fraud

CUNA is reporting that credit unions nationwide are reporting another round of wire/Home Equity Line of Credit (HELOC) fraud. There are several steps credit unions can take to mitigate risk.

CUNA Mutual says that in most cases, the fraudster "hijacked" member home phone numbers by impersonating the member and requesting that the member's telephone carrier forward all calls to an untraceable cell phone.

In a recent case, the fraudster cited flooding problems as the reason for requesting the home phone to be forwarded. In other cases, fraudsters were successful in having the member's phone number on the account changed on the credit union's system. Both methods resulted in a positive confirmation of the wire during the callback verification.

Perpetrators have targeted members with large lines of credit via HELOC loans, said Gary Pate, CUNA Mutual director of insurance compliance and risk management. The perpetrator sends a fax or email requesting the credit union process a funds/wire transfer. Usually, the transfer requests are received at credit unions with call centers.

"What's making these scams even more insidious is that the credit union's caller ID indicates the call is going to the member's number of record," Pate said. "Additionally, the fraudsters have detailed member information, which is enabling them to answer additional challenge questions from credit union staff."

Credit unions should consider requiring members to request large dollar wire transfers in-person at a branch office, which is a common practice in the financial services industry. CUNA Mutual Group said it supports this position.

Some risk mitigation recommendations:

  • Establish a monetary threshold for requiring wire transfer requests to be made in-person
  • Encourage members to add a password to their account
  • Review member account details to determine if large dollar wire transfers are "reasonable" for the member. If not, require the member to make the wire transfer request in-person
  • For large dollar wire transfer requests, check the member's account to determine if there was a recent advance against the member's HELOC to fund the wire. If a HELOC advance was made to fund the wire, require the member to make the request in-person
  • Employees who perform callback verifications should always check the member's account to ensure the phone number has not been changed in the past 30 days prior to performing the callback. This step should be added to the callback verification section of the credit union's wire transfer form, or other form used to document callbacks made
  • Adopt a series of strong out-of-wallet questions to be used during the callback verification
  • Adopt a written wire transfer agreement with both consumer-members and business members in which both the credit union and member agree to a commercially reasonable security procedure that verifies payment orders submitted by the member. The written wire transfer agreement with business members should identify the business' employees authorized to submit payment orders to the credit union on behalf of the business
  • Consider adding a fraud monitoring tool that is capable of monitoring transactions in real-time across all payment channels like checks, automated clearinghouse, wires, payment cards, as well as transactions initiated through the online banking system
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International Credit Union Day
E-stuffer available for ICU Day - Save $150

As credit unions plan for the upcoming International Credit Union Day, new this year is a digital version of the ICU Day stuffer. Members who visit their credit union online can get the same good information as those who come to the branches. The E-Stuffer regularly sells for $245, but when you purchase 4,000 print stuffers, save $150.

More than a PDF or HTML, this is a Flash file. Members can easily move from page to page. The E-stuffer is very easy for you to use. Order online, save two files to your Web site server, and add links. Really--it's that simple. Click here to see the full instructions before you buy. View all promotional products and place an order today!
[ Return to Top ]

Compliance Corner
Comment Call: Interim Final Rule Low-Income definition amended

The National Credit Union Administration (NCUA) recently adopted an interim final rule (IFR) to amend § 701.34 of NCUA’s regulations, known as the low-income rule.

Background:

The Federal Credit Union Act authorizes NCUA to establish regulations to provide credit unions consisting of predominantly low-income members with certain statutory relief and access to the Community Development Revolving Loan Fund. This regulation is referred to as the low-income rule.

Brief Description of IFR:

The IFR amends the low-income rule to clarify that—as an alternative to relying on NCUA’s geo-coding software—a credit union may assess whether its members qualify as low income by using median family income and median earnings for individuals.The IFR provides that only like categories of data may be compared in making the determination that a credit union’s membership meets the low-income definition.

The LSCU welcomes your comments on this amendment. Click here for more information and to comment. [ Return to Top ]

Second quarter Custom Performance Reports recently sent

The second quarter Custom Performance Reports have been emailed to all member credit unions. Any credit union that has not received the report should contact LSCU VP, Regulatory Affairs Bill Berg at 866.231.0545 x1028. [ Return to Top ]

Compliance Calendar and Training

Compliance Calendar
October 1

Regulation Z - Escrow Requirement for "Manufactured Housing" Mortgages - Effective Date

October 11
Columbus Day - Federal Holiday

October 23
5300 Call Report Due to NCUA

November 2
Consumer Credit Card Submission Deadline

November 7
Daylight Savings Time Ends

November 11
Veterans' Day - Federal Holiday

Compliance Training
September 15
FACTA - What's New for 2010? – webinar
2:00–3:30 p.m. CT

September 22
Current Compliance Issues in Fraud – webinar
2:00–3:30 p.m. CT

October 6
Regulation CC Update & Advanced Check & Payment Issues
– webinar
2:00–3:30 p.m. CT

October 13
Adjusting to the New Overdraft, Gift Card & ACH Rules for 2010 – webinar
2:00–3:30 p.m. CT

October 14
Pressing Credit Union Compliance Issues – audio conference
1:00–2:30 p.m. CT

October 24–27
CUNA Bank Secrecy Act Conference
[ Return to Top ]

Cooperative Initiatives News
Free Foreclosure Prevention Workshop THIS WEEK

Many credit union members, who are homeowners, have their mortgage loans with other lenders. Yet research shows that members have more faith and trust in their credit union than any other financial institution and they are more likely to turn to their credit union for advice, counsel, and assistance – particularly in tough times.

Credit unions currently have a unique opportunity to help members who may be at risk of foreclosure, regardless of who holds the mortgage. The Federation, National Credit Union Foundation, and the League of Southeastern Credit Unions will present a foreclosure prevention workshop this month in Florida. The workshop will be held September 16 in Tampa.

This workshop will focus on the following:

  • How to identify members who may be at risk of foreclosure
  • Ways to help affected members avoid scams and predatory traps
  • Specific financial products that will reduce the risk of foreclosure for members and losses for the credit union
  • How to connect members to responsible counseling and other services early enough to obtain the best possible outcome

The FREE workshop is designed to provide credit unions with tools to be used to help members and also to gather feedback on the challenges facing credit unions and their members in today’s economy.

Contact Member Relations Specialist Amber Tynan at 866.231.0545 ext. 1154 for more information or to register. [ Return to Top ]

Center for Financial Services Innovation launches new grant to help consumers with finances

http://www.cfsinnovation.com/

The Center for Financial Services Innovation (CFSI) has announced the launch of a new grant fund—the Financial Capability Innovation Fund—to support promising nonprofit-led projects designed to help consumers better manage their finances and achieve financial prosperity.

The recent financial crisis revealed that a new course for financial education has never been more necessary and consumers have never been more motivated to learn. CFSI will invest in new and improved strategies that not only help consumers increase their knowledge but also help them establish healthy financial behaviors.

Through a competitive request for proposals (RFP) process, CFSI will award $1.25-$1.5 million total to four to six promising nonprofit-led projects with the average award size ranging from $200,000-$300,000 per project. CFSI seeks models that are relevant, timely, actionable, and ongoing, and that are scalable and sustainable in the long run. CFSI is also interested in projects that incorporate behavioral economics concepts, leverage technology, and/or couple new or improved educational tools with financial products/services. CFSI encourages collaborative ventures involving multiple parties.

To learn more about this funding opportunity and to download the RFP which details CFSI’s funding priorities, criteria, timeline, and process, click here.The deadline to submit a proposal is Wednesday, October 13, 2010. [ Return to Top ]

Collections & Bankruptcy School: Reel in your delinquencies

Collections & Bankruptcy School

October 12-13, 2010

Orlando, Florida

Reel in Your Delinquencies & Take Your Collections to the Next Level!

The current credit crunch is having a negative impact on many credit union members and credit unions are in a unique position to assist them. Is your collections staff ready to help the member and the credit union weather the storm? And what about the amount of bankruptcies your credit union may be experiencing? If any of these questions make you think twice about your credit union’s collections and bankruptcy process, this school is for you!

Instructor David Reed provides various ways including best practices, creative tools, and practical experience that will help you effectively and efficiently reel in your delinquencies.

Click here to view the Collections & Bankruptcy School flyer. Click here for more details and registration information. [ Return to Top ]

LSCU Development Conference features top-notch education sessions

Join the LSCU as it kicks off its shoes and gets down to business, focusing on you! The LSCU Development Conference is a great opportunity for you to sit back, relax, and learn - from the education sessions and from your peers.

In addition to a great lineup of speakers, the education sessions will be beneficial. Below are just a few of the education sessions being offered at the conference.

Understanding the Roles, Responsibility, and Accountability of Volunteer Boards

Not all credit union board members are well-versed in exactly what is expected of them once they take a seat at their first board meeting. Understanding what roles they should and should not take on can be confusing. This session will explore the traditional roles of volunteer boards and how understanding roles will make for a successful collaboration as well as explore ways in which each individual director can use their knowledge, skills, education and experiences in ways that will maximize their value to the team and effectiveness of the board. 

Brand Camp:  A Workshop for Small Credit Unions to Differentiate, Build a Community and Get Ahead

Branding includes all the emotions that people have about your credit union. Unfortunately, if you do not actively create and reinforce your brand image, your members will craft one for you. Smaller credit unions have extra challenges from a limited staff, budgets, and resources. Having the discipline to stop being all things to all people, but instead being amazing things to just the right people is the focus of this idea lab.

Protecting Member Information and Your Money

Learn about the realities of data theft and the latest cyber attacks and fraud schemes designed to steal your members' information and your money. Learn what keeps security professionals up at night and what actions can be taken to prevent becoming a victim.

These are just a few of education sessions you can look forward to attending. For more information about this conference including registration information, visit www.lscu.coop and click on this event on the Education Calendar or click here.

Questions? Contact LSCU Association Services Support Specialist Becki Payne at 866.231.0545 ext. 2129. [ Return to Top ]

Education News
SCUMA Annual Conference Sept. 22-24, 2010

Join the Southeast Credit Union Management Association (SCUMA) for its annual conference September 22 - 24, 2010.

Attendees rated SCUMA’s 2009 conference with the highest scores yet, and the executive committee is dedicated to repeating the success in 2010.

Conference rate is only $275 for first attendee and $250 per additional attendee from same credit union. Two breakfasts, one lunch, one dinner, and all educational sessions are included. 

For information visit www.cumanagers.com or contact LSCU's Teresa Gray at 866.231.0545, x2110.
[ Return to Top ]

Education Calendar

September 23, 2010
Account Basics - webinar
1 - 2:30 p.m. ET

September 22 - 24, 2010
2010 Southeast CU Managers Association Annual Conference - Sandestin, FL

October 5, 2010
TILA – Understanding TILA/Z - webinar
10:30 a.m. - 12:30 p.m. ET

October 5, 2010
BSA Essentials Training - Montgomery, AL

October 12 - 13, 2010
LSCU Collections & Bankruptcy School - Orlando, FL

October 19, 2010
BSA Essentials & Advanced Training -  Muscle Shoals, AL

October 26, 2010
Regulatory Update II - webinar
1:00 - 3:00 p.m.
[ Return to Top ]

LEVERAGE NEWS
LEVERAGE partner CUNA Mutual offers free online Discovery Conference

CUNA Mutual's first-ever Online Discovery Conference is scheduled for November 3, 2010.

Credit unions will learn about growth strategies from industry professionals and leave with innovative ideas and an action plan to leverage their strengths and gain a competitive advantage. This online conference is the Web-based equivalent of a face-to-face conference, without the associated expenses or travel.

  • A $250 value, Online Discovery Conference is absolutely FREE in celebration of CUNA Mutual’s 75th anniversary
  • A full day of great content and networking opportunities
  • Attend via your computer from your office, home, or even the local coffee shop
  • Explore the Discovery Expo & register for a chance to win a prize
  • Registration opens September 27

More details about this exciting event will be available at the end of September. In the meantime, mark your calendars and plan to attend.

[ Return to Top ]

CO-OP Financial Services Ad Lab has new consumer marketing campaigns

CO-OP Financial Services has enhanced CO-OP Ad Lab, a “self-service” consumer marketing program for credit unions, to help its clients  promote the member access and convenience services they offer via CO-OP.

“In highly competitive markets, it has never been more important for credit unions to communicate how easy it is for their members to access their accounts,” said Stan Hollen, president/CEO, CO-OP Financial Services. “We created CO-OP Ad Lab to alleviate many of the costs and work load involved in marketing.”

CO-OP Ad Lab materials are available for a range of CO-OP products in an array of formats – statement inserts, flyers, brochures, web banners, and posters. These materials are free for member credit unions of CO-OP Financial Services to download and customize in their brand look, add their logos, or use as is.

The updated website features a new layout, easier navigation, and 15 new marketing campaigns for credit unions to choose from, including those supporting mobile banking, scanning/depositing checks from home, and surcharge-free access to ATMs.

In addition, CO-OP Ad Lab now includes two programs for participating member credit unions: CO-OP Preferred, a turnkey marketing solution; and CO-OP Ad Partnership, a subsidy program for printing marketing materials.

CO-OP Preferred is a fully managed option for select Ad Lab campaigns, where CO-OP will customize the artwork, then fulfill orders, print and mail materials, and provide reporting. CO-OP will also offer special quarterly promotions under this program. CO-OP Ad Partnership is a limited time offer in which CO-OP will subsidize 50 percent of the printing costs for Ad Lab marketing materials (up to a $1,500 match per participating credit union per year).

Click here for more information about CO-OP Ad Lab. [ Return to Top ]

New date for armored car services ePurchasing event

LEVERAGE expects a record number of credit unions participating in the ePurchasing armored car services event. Due to the large number of participants who have registered, the ePurchasing armored car services has been tentatively postponed until September 28.

ePurchasing is a strategic process which uses a web-based application to assist in the purchase of goods and services. Services provided include, but are not limited to the following: developing detailed specifications, bidding structure, software and bidding training to vendors, collecting required due diligence information from all third party vendors, accepting and evaluating bids, and, of course, the live event. Credit unions are savings thousands of dollars through ePurchasing. 

This collaborative buying event will include eight credit unions. To save money by participating collectively, contact LEVERAGE Director, ePurchasing Lori Vary at 941.747.9646. [ Return to Top ]

News from You
Alabama Telco CU receives Golden Mirror Awards

Alabama Telco Credit Union employees proudly
hold prestigious CUES Golden Mirror Awards

The Credit Union Executives Society annually honors exceptional marketing campaigns with the CUES Golden Mirror Awards. Alabama Telco recently won three awards within its credit union asset category: First Place for Innovation with their customized Signature Pad, Second Place for Coordinated Campaign with their Kids Savings School program, and aMerit Award for a series of postcards promoting their unique U Name It savings program in the direct mail category.

Alabama Telco was also the recipient of the prestigious Golden Shoestring Award. This award is given to a credit union that develops a highly successful marketing piece within the constraints of a shoestring budget. The award was given for Alabama Telco’s customized Signature Pad, which allows them to better profile their members’ product needs. 

“Winning any award is great, but winning the prestigious Golden Shoestring Award is a distinct honor for credit union marketing professionals. With all the smart competition out there, it’s hard to be a leader and innovator. Winning this award proves Alabama Telco Credit Union is an industry leader,” said Alabama Telco’s President and CEO, Linda Cencula. [ Return to Top ]

Alabama's DCH CU collects items for local school

DCH Credit Union in Tuscaloosa, AL, recently held a school supply drive for University Place Elementary School. Members and employees donated school supplies to help University Place students with their needs. The credit union also participated in the school's open house on at the end of August to meet parents and students (pictured above).  

DCH Credit Union has set up a “No Tardy Party,” financial education program for both students and parents as well as an in-school credit union branch to encourage students to save. [ Return to Top ]

AL Teacher's CU offers interest-free loans to help teachers buy supplies

In today’s tough economy, many classroom educators are faced with purchasing materials for their classroom beyond their budget. To help this problem, Alabama Teachers Credit Union reached out to its educators by offering a special Educator Assistance Loan.

For the past three years, ATCU has been able to help educators by offering a $500 interest-free loan. This year, ATCU has helped 77 classroom educators purchase their supplies by loaning out $38,500, interest-free! [ Return to Top ]

Employment
Credit union employment opportunities posted online
Click here to view credit union-specific job opportunities in Alabama and Florida. [ Return to Top ]

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