LSCU eSignal Weekly
LSCU eNews Weekly January 31, 2011
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LSCU eNews Weekly
In This Issue
LSCU Headlines
House Committee plans hearing on interchange proposal
LSCU asks Florida governor to help reduce regulatory burden on credit unions
Alabama Legislature Committee Assignments Announced
The LSCU meets with the new OFR bureau chief
CUNA GAC attendees experience credit union passion in Washington D.C.
SAFE Act registration is now open to credit unions
LSCU compliance call coming up Feb. 10
The true value of affiliation with the League and CUNA
Registration now open for NCUA virtual Town Hall meeting
Dennis Dollar to address first meeting of the LSCU Councils
Governmental Affairs News
CUNA GAC webinar coming Feb. 24
LSCU plans September Hike the Hill
Florida roundup: OFR legislation could increase regulatory burden
Washington update: Quiet week expected
Compliance Corner
League InfoSight highlight: NCUA letter covers foreclosure management
NCUA seeking comment letters on accuracy of advertising and notice of insured status
Compliance calendar and training
Cooperative Initiatives News
REAL Member Solutions video winner chosen from New Mexico
Education News
LSCU AC&E coming up Jun. 16 - 19 in Orlando
The LSCU has resources to help credit unions comply with financial literacy
Education Calendar
LEVERAGE News
Free Valentine’s Gift with Purchase of $100 or more with Office Depot
Credit unions can earn non-interest income from Sprint program
News from You
Army Aviation Center FCU breaks ground on new corporate office
floridacentral Credit Union accepting donations for fallen officers
Alabama Telco asks members to look for best credit card deal
CUNA honors women of significance in financial planning
Southeast Corporate holding town hall meetings
EMPLOYMENT
View available credit union jobs
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LSCU Headlines

House Committee plans hearing on interchange proposal

Last week, the House Financial Services Committee announced its tentative schedule of hearings for February and March. Included in the schedule is a hearing on the Federal Reserve’s proposed rule on debit interchange. The Financial Institutions Subcommittee, chaired by Rep. Shelley Moore Capito (R-WV), is scheduled to hold the hearing on Feb. 17 at 10 a.m. 

The League and CUNA have been actively involved in working with the staff of Committee Chairman Spencer Bachus (R-AL) to ensure that they understand the problems created by the proposed rule, and to explain the need for delay and changes in implementation. In addition to regular conversations with contacts in Congress, the League held a conference call with key committee staffers two weeks ago, asking several credit union CEOs to join and explain how the proposed rule would impact their credit unions and their members. This put a very sharp focus on the problems and laid excellent ground-work for the hearing.

In December, the Fed issued for public comment its proposed regulations enforcing the Durbin Amendment provisions of the Dodd-Frank Wall Street Reform Act. The law, as passed, requires the Fed to develop price controls on debit interchange fees but creates an exemption for card issuers under $10 billion in assets.  Unfortunately, the proposed rule does not maintain sufficient safeguards to ensure that a two-tiered system of pricing is created to make the exemption a reality, and that merchants are not prohibited from discriminating against smaller issuers. 

The announcement of a hearing is good news for credit unions and creates a greater possibility of changes in the final rule that might address concerns. While the Congressional review of the proposed rule is important, it is critically important that credit unions submit comments on the proposed rule to the Federal Reserve. For more information on the proposal and how to comment, visit the LSCU MBL and Interchange Resource area.


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LSCU asks Florida governor to help reduce regulatory burden on credit unions

In a letter to Florida Gov. Rick Scott, the LSCU expressed support for his actions to suspend regulatory rule making and also creating an Office of Fiscal Accountability and Regulatory Reform. LSCU President/CEO Patrick La Pine informs the governor that credit unions are the most highly regulated financial institutions in the country. He writes, "every dollar that a credit union spends complying with regulation is a dollar that is not used to the benefit of the credit union's membership."

The LSCU also laid out how statutory limitations keep Florida credit unions from helping members "to do more to promote job creation and economic growth." The letter also praised the governor for his theme of "Getting Florida Back to Work." 'To read the letter click here.

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Alabama Legislature Committee Assignments Announced

The 2011 regular session of the Alabama Legislature is scheduled to convene on the first Tuesday in March at noon. For the first time in 136 years, the Republican Party will hold a majority of seats in the House and Senate. Committee assignments were recently made for the regular session with the LSCU and credit unions being well represented by friends in all committees of interest to the League. 

The Senate Finance & Taxation, Education (F&TE) Committee handles legislation that primarily deals with the taxation for and funding of Alabama’s Education Trust Fund. Sen. Trip Pittman (R) will chair this committee with Sen. Gerald Dial (R) serving as vice-chair. The F&TE committee is completed by Sens. Gerald Allen (R), Scott Beason (R), Roger Bedford (D), Slade Blackwell, (R), Vivian Figures (D), Arthur Orr (R), Hank Sanders (D), Rodger Smitherman (D), Jabo Waggoner (R), and Tom Whatley (R).

The Senate Finance & Taxation, General Fund (F&TG) Committee deals with legislation, taxation, and funding for Alabama’s non-education state agencies. The members of this committee are as follows, Sens, Orr-Chair, Billy Beasley (D), Bedford, Dick Brewbaker (R), Priscilla Dunn (D), Bill Holtzclaw (R), Pittman, Paul Sanford (R), Bobby Singleton (D), Cam Ward (R), Waggoner, and Phil Williams (R).

Possibly of most importance for credit unions, the Banking and Insurance Committee handles legislation that affects financial institutions, the insurance business and any other appropriate legislation. The members include: Sens. Blackwell-Chair, Ben Brooks (R)-Vice Chair, Bedford, Paul Bussman (R), Jerry Fielding (D), Holtzclaw, Sanders, Waggoner, and Tom Whatley (R).

The House Ways and Means Education Committee mirrors the Senate F&TE Committee in function. It’s members are Reps. Jay Love (R)-Chair, Mary Sue McClurkin (R)-Vice Chair, James Buskey (D)-Ranking Minority Member, Terri Collins (R), Craig Ford (D), Alan Harper (D), Jamie Ison (R), Barry Mask (R), Steve McMillan (R), Jeremy Oden (R), Bill Poole (R), John Rogers (D), Rod Scott (D), Mark Tuggle (R) and Phil Williams (R).

The Ways and Means General Fund Committee in the House, like the Senate F&TG Committee, works with legislation regarding the taxation and funding of Alabama’s non-education state agencies. The new members in this committee are Reps. Jim Barton (R)-Chair, Steve Clouse (R)-Vice Chair, Richard Laird (D)-Ranking Minority Member, Merika Coleman (D), Victor Gaston (R), Lynn Greer (R), Laura Hall (D), Ken Johnson (R), John Knight (D), Wes Long (R), Mac McCutcheon (R), Mike Millican (R), Charles Newton (D), Elwyn Thomas (R), and Greg Wren (R).

In the past, financial services and insurance legislation in the Alabama House were heard in the same committee. In 2011, they have been divided into two separate committees, each specializing in their respective area. The Financial Services Committee is chaired by Rep. Clouse and the rest of the members are Reps. Vance-Vice Chair, Marcel Black (D)- Ranking Minority Member, DuWayne Bridges (R), Blaine Galliher (R), Steve Hurst (R), Long, Thad McClammy (D), and Oliver Robinson (D). The House Insurance Committee chaired by Rep. Hill and its members are Reps. Wren-Vice Chair, Lawrence McAdory (D)-Ranking Minority Member, K.L. Brown (R), Greg Burdine (D), Greg Canfield (R), Chris England (D), Joe Faust (R), Johnson, Kerry Rich (R), and Pebblin Warren (D).

For more information on the Alabama Legislature, contact LSCU Director, Legislative Affairs Jason Cochran at 866.231.0545 ext. 2159. [ Return to Top ]

The LSCU meets with the new OFR bureau chief

(l to r ) LSCU President/CEO Patrick La Pine, Chief, Bureau of Credit Unions Bruce Ricca, OFR Senior Management Analyst Amy Whitehead and Director of Financial Institutions Linda Charity

On Jan. 27, LSCU President/CEO Patrick La Pine, Vice President, Regulatory Affairs Bill Berg and Director, Legislative Affairs Jared Ross met with the Florida Office of Financial Regulations. OFR officials present at the meeting included Director, Division of Financial Institutions Linda Charity, Bureau Chief of Credit Union Regulation Bruce Ricca, and Senior Management Analyst Amy Whitehead. 

This was the League's first meeting with Ricca, who just became the new bureau chief for credit unions in Florida. The League shared with the OFR staff the letter that was sent to Gov. Rick Scott (see story above) and made them aware of some of the services that the LSCU offers to credit unions such as Compliance Training, Compliance Helpline, League InfoSight, Cooperative Initiatives, and CU/ACE. 

Credit unions will have the opportunity to speak directly to Ricca and Charity, as well as with NCUA Region III Director Herb Yolles at the Regulator Roundtable at the Florida State Governmental Affairs Conference in Tallahassee on Apr. 14. For more information on the Florida State GAC, click here. [ Return to Top ]

CUNA GAC attendees experience credit union passion in Washington D.C.

CUNA continues to add speakers to the 2011 CUNA GAC , which will be held Feb. 27-Mar. 3 at the Washington D.C. Convention Center. Sen. Mark Udall (D-CO), who proposed an amendment to raise the credit union member business lending cap from 12.25 percent to 27 percent, is the latest lawmaker added to the agenda. 

The LSCU will host the Alabama and Florida delegation at the Grand Hyatt hotel right near the convention center. The LSCU will hold a Welcome Reception on Sunday Feb. 27 and then hospitality events Monday, Tuesday and Wednesday. The hospitality events provide a good opportunity for credit unions to network about their day and to talk about the upcoming Hill visits. The latest information and any schedule changes will also be provided at the hospitality events. The LSCU delegation will make most of the Hill visits Wednesday and Thursday of CUNA GAC week. This is a great opportunity for credit unions to speak directly with lawmakers. Many times the lawmakers ask pointed questions about legislation and how it affects credit union members. A strong showing by credit unions in Alabama and Florida show lawmakers how important credit unions are in the financial landscape.

There is still time for credit unions to register to join the LSCU at the CUNA GAC Feb. 27 - Mar. 3. Contact LSCU Executive Assistant to the President Teresa Gray at 866.231.0545 ext. 2110 to get your name on the list and to secure a hotel room. For more information, visit the LSCU CUNA GAC Resources area of the website.


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SAFE Act registration is now open to credit unions

The NCUA, along with most financial regulatory agencies, and the Farm Credit Administration announced that the Nationwide Mortgage Licensing System and Registry will begin accepting federal registrations Jan. 31.

Under the Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act) and the agencies' final rules, residential mortgage loan originators employed by banks, savings associations, credit unions, or Farm Credit System institutions must register with the registry, obtain a unique identifier from the registry, and maintain their registrations. 

Following expiration of the 180-day initial registration period on Jul. 29, 2011, any employee of an agency-regulated institution who is subject to the registration requirements will be prohibited from originating residential mortgage loans without first meeting these requirements. The rules include an exception for mortgage loan originators that originated five or fewer mortgage loans during the previous 12 months and who have never been registered; they would not be required to complete the federal registration process.

Credit unions can find more information about the registry and the registration process by visiting the registry's website.

For questions about signing up for SAFE Act, contact LSCU VP, Regulatory Affairs Bill Berg at 866.231.0545 ext. 1028 or Director, Compliance Scott Morris at ext. 2165. [ Return to Top ]

LSCU compliance call coming up Feb. 10

The LSCU will hold its first Compliance Call of 2011 on Thursday Feb. 10 at 3 pm EST/2 pm CST. The call will be hosted by LSCU VP of Regulatory Affairs Bill Berg and will feature CUNA Director of Compliance of Regulatory Affairs Valerie Moss as a guest speaker.

Timely topics such as the S.A.F.E. Act and the ATM ADA Compliance will be discussed. The League will also talk about SAFE Act registration procedures.The format of the audio calls will be slightly different than in the past:

  • They will remain free and run for one hour
  • To sign up, send an email to LSCU Association Services Support Specialist Tracy Shimansky. The email can include the names and email address for everyone from your credit union that will participate. An email with instructions and handouts will be sent a few days before the call
  • Email registration will ensure a quicker roll call
  • Each Compliance call will be recorded and archived for future use for you or your staff

The Compliance call is open to all Presidents, CEOs and Managers, as well as compliance contacts. If you have any questions, contact Berg at 866.231.0545 ext. 1028.


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The true value of affiliation with the League and CUNA

As credit unions look to affiliate with the LSCU, some may question the benefits that a credit union gets from the League. A new video features credit union CEOs from Alabama and Florida talking about  the reasons they feel membership is so important, regardless of the size of the credit union. To view the power of affiliation video, visit the LSCU Video Center.

Credit unions should have received their 2011 LSCU dues invoices by now, and the League wants to thank all the credit unions that have shown their support by submitting their dues prior to the Mar. 1 deadline.

As the legislative and competitive environment continues to evolve at rapid-fire pace, it has never been more important that credit unions speak with one voice through cooperation and unity. Active participation as a member of the LSCU and CUNA is vital to the long-term success and strength of the credit union movement. Together, credit unions can ensure an optimum environment for credit unions and secure their place within the financial services industry.

A reminder dues invoice was mailed last week. If your credit union needs more information about the value of League affiliation, please contact Laura Vann at 866.231.0545 ext. 2181. Credit unions can visit the Member Relations area of the LSCU website for more information on the importance of unity and cooperation. 
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Registration now open for NCUA virtual Town Hall meeting

Registration is now open for the NCUA's 90-minute virtual Town Hall meeting. It will feature detailed discussion of NCUA’s initiatives to reform the corporate credit union system, minimize costs to consumer credit unions and promote financial education for volunteers.

“As we move into a new year, I am looking forward to continued dialogue with credit union stakeholders through these Town Hall sessions,” notes Chairman Debbie Matz. “There are significant issues to discuss, and this first Town Hall of 2011 will be an ideal venue to listen, to learn and to engage NCUA as we work together to move the credit union industry forward.”

Participants will be able to submit questions during the live webinar. The webinar will be open to everyone, with an archived version on the NCUA’s website for those who could not participate. To register for the live event Feb. 17, visit the NCUA Town Hall meeting page. [ Return to Top ]

Dennis Dollar to address first meeting of the LSCU Councils
Former NCUA board Chairman Dennis Dollar will be the keynote speaker at the spring meeting of the LSCU Councils (formerly LSCU Leadership Councils), Mar. 23-24 in Birmingham, AL.

Dollar, principal partner in Dollar Associates, LLC, will speak about "The Right Moves for Credit Unions in Today's Economy" during the Council meeting's afternoon session. Dollar takes on the big issues credit unions are facing today and provides his unique perspective on the strategic moves that America’s credit unions must make in today’s challenging economic times if the movement is to keep moving.

Credit union professionals won't want to miss this meeting as the councils offer the best regional opportunity to stay abreast of trends in specific disciplines, hear the timeliest topics from top speakers, and to network with industry peers in Alabama and Florida.

The LSCU Councils are perfect for CFOs, Lending Professionals, Marketing and Business Development, and Operations, Sales & Service Professionals.

Agenda:

Wednesday, March 23
4:00 p.m. – 6:00 p.m. (CST) Informal Welcome Reception                      

Thursday, March 24
8:30 a.m. – 4:00 p.m. (CST) Council Educational Sessions & Networking Meetings

Location: Birmingham Marriott, Birmingham, AL

Price: $195.00

Visit www.lscu.coop for registration details and more information. Contact LEVERAGE Director, HR Services/Executive Recruiter Lisa Hammock 866.231.0545, ext. 1146 with any questions.

Follow the LSCU Councils on Facebook.

 


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Governmental Affairs News
CUNA GAC webinar coming Feb. 24

For Alabama and Florida credit unions that will be attending the CUNA GAC, Feb. 27 - Mar. 3, the LSCU is offering a webinar to help attendees get the most out of their time at the conference. The webinar will be Feb. 24 at 11 AM EST / 10:00 CST. The League will be going over the GAC schedule, LSCU events, and the most recent legislative information to help prepare you for your meetings with your members of Congress

Individual credit union's commitment to advocacy is the source of the movement's grassroots strength, which is needed now more than ever. The CUNA GAC has a great line-up of speakers including House Financial Services Chairman Spencer Bachus (R-AL) and Rep. Debbie Wasserman Shultz (D-FL). In addition to the speakers, there will be a number of important and informative break-out sessions, networking opportunities, and Hill visits on Wednesday and Thursday.

For credit unions that would like to know more about the CUNA GAC or how they can attend, contact LSCU SVP of Governmental Affairs Will McCarty at 866.231.0545 ext. 2137. You can find more information on the CUNA GAC by visiting the LSCU CUNA GAC resource page.

To participate in the LSCU webinar, click here.

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LSCU plans September Hike the Hill

With the CUNA GAC just around the corner (see story above), the League’s Governmental Affairs Department is already planning the Fall Hike the Hill event for September. While the agenda is not yet finalized, the LSCU and credit unions will be going to Washington on Sep. 13-14 to meet with the Congressional delegations from Florida and Alabama along with officials at the NCUA. 

While the CUNA GAC in February is the marquee credit union political and legislative event, holding smaller trips to Washington to meet with federal lawmakers throughout the year is a critical part of the League's advocacy efforts. More information on the September Hike the Hill event will be provided in the coming months. Credit unions are encouraged to mark their calendars now to attend. For more information on the Hike the Hill, contact LSCU SVP, Governmental Affairs Will McCarty at 866.231.0545 ext. 2137, Grassroots and Political Action Coordinators Justin Thames (FL) at ext. 1010 or Robbie Gordon (AL) at ext. 2164.

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Florida roundup: OFR legislation could increase regulatory burden

With session just about five weeks away, Florida legislators will be busy leading up. Here are some of the things they are working on this week. 

Legislation

The Office of Financial Regulation (OFR) intends to proffer a bill that will significantly increase the regulatory burden on financial institutions in the state of Florida. The League has been working with OFR to help alleviate some of the concerns with the legislation, and intends to closely monitor this situation leading into the 2011 Legislative Session and throughout. Rep. Clay Ingram (R-Pensacola) is expected to file the legislation in the House and Sen. Garrett Richter (R-Naples) is expected to carry the companion legislation in the Senate. The League will continue to keep credit unions up to date with the progress of this bill as it moves through the legislative process.

Redistricting

Even though 2011 is just a month old, 2012 is quickly approaching, the Florida lawmakers are preparing for the once-a-decade job of drawing new districts for Congress and the Florida Legislature. Last week, it became public that Gov. Rick Scott had put the brakes on Amendment 5 and Amendment 6 by withdrawing the two measures from a federal review that is usually required of any election law changes. The Department of State had submitted the paperwork in December, but a top official with the Scott administration withdrew the request just three days after Scott was inaugurated. The Scott administration suggested the move was a routine act in line with reviewing other actions by former Gov. Charlie Crist. Gov. Scott’s actions will likely make an already contentious issue even more intriguing political theater.

Executive Branch Shakeups

Gov. Scott began work on his efforts to shakeup the state's economic development efforts. He abruptly fired John Adams, president/CEO of Enterprise Florida, the public-private outfit responsible for economic development efforts. Scott said the reason to terminate Adams was to “surround myself with people” who will help achieve his plan of creating 700,000 jobs in seven years. The governor also announced that he wants to resurrect the Department of Commerce. The agency was eliminated in 1996 by then-Gov. Lawton Chiles and replaced with Enterprise Florida.

The governor said his plan is to merge the operations of the Office of Tourism, Trade, and Economic Development and the Agency for Workforce Innovation into the new agency. Enterprise Florida would remain, Scott said, but the organization would be under the control of the new commerce secretary. 

Legislative Leadership

Barely into 2011 and it's already known who will be Speaker of the Florida House in 2016, if the Republicans remain in power. Rep. Richard Corcoran (R-New Port Richey), this week emerged from a group of crowded GOP freshmen with enough pledges for the post after the Miami Delegation decided to throw their support to Corcoran, en banc. Some of Corcoran's competitors for the spot included Rep. Matt Gaetz (R-Shalimar) and Rep. Ben Albritton (R-Bartow). Rep. Will Weatherford (R-Wesley Chapel) is currently in line to follow House Speaker Dean Cannon (R-Winter Park). Rep. Chris Dorworth (R-Heathrow) is in line to follow Weatherford.

If you have any questions on the Florida Legislature, contact LSCU Director, Legislative Affairs Jared Ross at 866.231.0545 ext. 1012. [ Return to Top ]

Washington update: Quiet week expected

The House of Representatives is on recess this week, but the Senate is in Washington D.C. The main item on the Senate’s calendar this week is the FAA Reauthorization bill, which passed the chamber 93-0 last year but was not able to move out of the House. 

It is shaping up to be a relatively quiet week in committee, but CUNA will be following a hearing on Tuesday in the Senate Judiciary Committee entitled, "Foreclosure Mediation Programs; Can Bankruptcy Courts Limit Homeowner and Investor Loses?"  Witnesses at this hearing are expected to include: U.S. Bankruptcy Judge Robert Drain of the Southern District of New York; John Rao, attorney at the National Consumer Law Center; Larry Britt, a Riverside, R.I., homeowner; Anthony Sanders, professor and senior scholar at George Mason University's The Mercatus Center; and Andrew Grossman, visiting legal fellow at The Heritage Foundation.

Both chambers are expected to be in session next week and meet until President’s day.

If you have any questions regarding these or any legislative issues, contact LSCU SVP, Governmental Affairs Will McCarty at 866.231.0545 ext. 2137. [ Return to Top ]

Compliance Corner
League InfoSight highlight: NCUA letter covers foreclosure management

The latest issue of the League InfoSight newsletter examines foreclosure standards for credit unions. According to a recent letter to credit unions, the NCUA examination standards will address the need for appropriate due diligence when dealing with outside vendors, quality control reviews on foreclosure processes, and stress event analysis and reporting.

The NCUA writes that it will also urge federal credit union directors to perform their own in-depth reviews of their mortgage documentation and foreclosure management processes. Specifically, credit unions should be aware of issues related to missing or defective loan documents and documentation deficiencies related to so-called "robo-signing."

To properly deal with these and other mortgage-related issues, credit unions should ensure that their credit union has established appropriate policies and procedures for all aspects of the foreclosure process.

Credit unions should ensure that their oversight, due diligence, and controls related to third-party servicers that perform foreclosures on behalf of the credit union are adequate. You can read the full NCUA letter in League InfoSight for Florida or League InfoSight for Alabama.

For more helpful reminders and tips, view the League InfoSight newsletter by clicking here. It is a password-protected area. Member credit unions that do not have a password, may click here to sign 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 the upper right of any of the LSCU web pages.

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NCUA seeking comment letters on accuracy of advertising and notice of insured status

The NCUA issued a proposal to amend provisions of its official advertising statement rule, Part 740, as it applies to radio and television advertisements and certain credit union reports. NCUA regulation Section 740.5 requires that insured credit unions include NCUA’s official advertising statement (“This credit union is federally insured by the National Credit Union Administration”) in all advertisements, including on the credit union’s website.

Credit unions have been permitted to use the abbreviated version “Federally insured by NCUA” or a reproduction of NCUA’s official sign, as shown in section 740.4(b), as the official advertising statement. In addition, NCUA’s regulations require the official advertising statement to be in a font size and print that is clearly legible. A credit union that chooses to use the official sign as the official advertising statement is permitted to modify the font size to ensure legibility. 

Visit the LSCU's Regulatory Action Calls and Comment Letters section of the website for more information on the proposal and directions on how to comment to NCUA.   

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Compliance calendar and training

Compliance Calendar

January 31
IRA Minimum Distribution Notice

Regulation E - Gift Card Rule Change - Effective Date (Updated 10/20/2010)

IRS Forms Due (See the online calendar for a complete list.)

Regulation E (EFTA) Extension of compliance deadline for printed gift card disclosures - Effective Date

Compliance Training

February 16
Pressing Credit Union Compliance Issues – Audio Conference
1:00–2:30 p.m. CT

March 16–30
CUNA Compliance Fundamentals eSchool

May 10 & 17
Consumer Lending Regulations: Parts 1 & 2 - Webinar
2:00–4:00 p.m. CT

May 10–July 19
CUNA Regulatory Compliance eSchool: Introduction


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Cooperative Initiatives News
REAL Member Solutions video winner chosen from New Mexico

Oscar Rivera, who shared his story of becoming a homeowner and small business owner with help from Guadalupe CU in Santa Fe, N.M. is the grand prize winner in the REAL Member Solutions Video contest. Voting for the best credit union testimonial ended Friday, Jan. 21 and 2,729 votes for the five finalists were cast over a two-week period.

Oscar Rivera wins a free trip to Washington, D.C. along with one representative from the credit union and state league. As guests of NCUF, Rivera will share the stage at a VIP event held prior to the Wegner Awards Dinner which is held during the CUNA GAC Feb. 27 –Mar. 3. Rivera will also receive a savings account deposit of $500. The member(s) featured in the four remaining videos will receive a savings account deposit of $250.

“Congratulations to Oscar Rivera and Guadalupe Credit Union,” said Lois Kitsch, National REAL Solutions program manager. “Rivera’s story truly exemplifies the credit union difference and illustrates how REAL Solutions is impacting the credit union movement.”

If credit unions would like to know more about REAL Solutions and the video contest, contact LSCU Director, Credit Union Relations Adena Whitman at 866.231.0545 ext. 2134. [ Return to Top ]

Education News
LSCU AC&E coming up Jun. 16 - 19 in Orlando

Although June seems like a long way off, it's not too early to begin planning for the LSCU Annual Convention and Exposition (AC&E). The AC&E will be held Jun. 16-19 in Orlando at the JW Marriott. The LSCU AC&E is one of the premier credit union events in the country. Last year more than 1,100 people attended the conference that also featured a sold out exhibit hall. The AC&E kicks off Thursday Jun.16 and wraps up Saturday Jun. 18, which is a slight difference from the AC&E last year. 

The 2011 LSCU AC&E will feature a golf tournament, national credit union executives speaking along with a nationally known keynote speaker. The breakout education session will include time with the regulators, a credit union economic outlook and many other timely topics. For more information on the AC&E, visit the Convention and Exposition website. This page is updated regularly as more speakers and sessions are finalized.   


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The LSCU has resources to help credit unions comply with financial literacy

As federal credit unions work to understand the new NCUA rules that require directors to have training in financial literacy, the LSCU has a number of financial literacy webinars, and training sessions ready for credit unions.  

The LSCU is offering two webinars in the next three months that will help credit unions become compliant:

  • February 15 - Required Financial Literacy Training for Directors Under NCUA Guidelines:  What Regulators Want and What Directors Should Know
  • March 3 - Required Financial Literacy Training for Directors Under NCUA Guidelines:  Ratios, Concentration, Investment Evaluations, and More

The LSCU will also offer training sessions at the State GACs in March, April and the Annual Convention and Exposition (AC&E) in June. The LSCU VP, Regulatory Affairs Bill Berg and VP, Cooperative Initiatives Laura Vann will facilitate those sessions, plus one in South Florida. Visit the LSCU Educational Calendar to sign up for one of the webinars. More information will be available soon on the training sessions.

For more information on the training, contact LSCU Association Services Support Specialist Becki Payne at 866.231.0545 ext. 2129. [ Return to Top ]

Education Calendar

Wednesday, February 2
Denied Loan Requirements
3:00 p.m. - 4:30 p.m. EST - webinar

Thursday, February 3
Replacing Lost Fee Income
3:00 p.m. - 4:30 p.m. EST - webinar

Tuesday, February 8
ACH Rules Update
3:00 PM - 4:30 PM EST - webinar

Thursday, February 10
Interpreting Tax Forms
3:00 PM - 4:30 PM EST - webinar

Tuesday, February 15
Financial Literacy Training: Directors
3:00 PM - 4:30 PM EST - webinar

Wednesday, February 16

BSA Training Workshop
9:00 AM - 11:30 AM EST - workshop

Wednesday, February 16
BSA Training Workshop
1:00 PM - 3:30 PM EST - workshop
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LEVERAGE News
Free Valentine’s Gift with Purchase of $100 or more with Office Depot

Spread the love this Valentine's season when you spend more than $100 in the month of February! Redeem this Smart Offer for a FREE Post-it note, pop-up heart dispenser by logging in to business.officedepot.com and enter coupon code 695267045 at checkout. Offer is valid through Feb. 28. Click here to view the complete offer.

For questions or more information about the program, contact LEVERAGE Product Support Manager Deirdre Rhodes at 866.231.0545 x1104. [ Return to Top ]

Credit unions can earn non-interest income from Sprint program

Credit unions can make membership even more valuable by offering exclusive discounts on Sprint services. The Sprint marketing incentives make it profitable and free marketing materials make it simple.

One of the key benefits with the Sprint program is the monetary marketing incentive credit unions receive in return for advertising these services to members. In 2010 more than 55 Alabama and Florida credit unions generated over $442,000 in non-interest income. Additional benefits include, free marketing materials, added value for members, and little implementation effort required. Members and employees also receive a 10-percent discount on monthly recurring charges.

Be sure to sprint ahead by Mar.1 to become eligible for up to 50 percent of your marketing incentive potential for 2011. For more information and eligibility details, email a LEVERAGE Business Consultant or call 866.231.0545 x1188.


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News from You
Army Aviation Center FCU breaks ground on new corporate office

Army Aviation Center FCU held a groundbreaking ceremony Wednesday Jan. 26 for its new operations center. The Daleville, AL based credit union will have a new 42,500 square foot facility on Highway 84 just west of town. The AACFCU board of directors, executive management team, local government  officials and area beauty queens helped in the ceremonial groundbreaking. 


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floridacentral Credit Union accepting donations for fallen officers

floridacentral Credit Union, which serves the city of St. Petersburg employees, established a fund to accept donations for the families of Sgt. Thomas J. Baitinger and K-9 Officer Jeffrey Yaslowitz, who were killed in the line of duty on Monday, Jan. 24.

Cash donations and checks will be accepted at all floridacentral branch locations. Checks should be made payable to: the Suncoast Law Enforcement Charities Inc.

floridacentral will accept donations until Feb. 28. All donations received will be forwarded to the charity on behalf of the families of the fallen officers. Donations may also be mailed to: floridacentral Credit Union, for the Benefit of Families of Fallen Officers of January 24, P. O. Box 18605, Tampa, Florida 33679. [ Return to Top ]

Alabama Telco asks members to look for best credit card deal

Holiday credit card bills are rolling in this month, making it the perfect opportunity for consumers to conduct their own credit card review to insure they are getting the best deal.  

When conducting a review of your credit cards, consumers should gather all their bills and do the research. Compare the rates, the fees, the limits and the perks.

The biggest concern for many consumers is rate. It’s important to shop around for the lowest, fixed rate available. Credit unions offer competitively lower rates than most big banks since credit unions don’t have to pay shareholders. However, don’t just go closing credit cards yet. Ask if you can get a lower rate first. If not, it may be time to move on.

Consider fees. If you want to consolidate debts and move higher-rate balances to a lower-rate card, be sure you’re not being slapped with a balance transfer fee. Also take note of your credit limit. You will need a card with a high enough limit to accommodate all your transfers.

Look at your perks. If you’re going to use a credit card, you might as well find one with benefits, like annual cash back rebates or rewards points that can be redeemed on merchandise or travel.

“Consumers do not need to be complacent with their credit card companies in today’s economy. They need to ask hard-hitting questions like, ‘Am I getting the best rate available? Am I being charged unnecessary fees? Is my credit limit too low? Can I get a fixed rate?’” states Stanton Davis of Alabama Telco Credit Union.

With so many choices in the credit card world, it’s smart to look at options. To learn about Alabama Telco’s credit card options, visit www.alatelco.org. [ Return to Top ]

CUNA honors women of significance in financial planning

CUNA Brokerage Services, Inc. is honoring 18 financial advisors, including three from Alabama and Florida, with Women of Distinction awards in recognition of their superior performance, value to their programs, exceptional client service and overall contribution to the financial services industry and CUNA Brokerage Services, Inc.

The Women of Distinction is an award recognizing the top performing female financial advisors within their broker/dealer operation nationally.

“We’re proud to honor the accomplishments of these advisors,” said Jim Metz, president of CUNA Brokerage Services, Inc. “Their contributions to the clients they serve, the financial services industry and to the women they mentor are exemplary and worthy of recognition.”

The award recipients from Alabama and Florida are:

  • Catherine Barnes, CRPC, VyStar CU – Orange Park, FL
  • Jane Kilby, CRPC, VyStar CU – Orange Park, FL
  • Gale Zumpano, CFP, CRPC, Alabama CU – Tuscaloosa, AL

Candidates are nominated by industry peers, and selections are based on the nominee’s annual performance and outlined contribution to their clientele, the credit unions they service, as well as the financial services industry as a whole.  The recipients will participate in a national mentoring program to work with, and foster, female advisors who are new to the industry as well as those who wish to grow in their profession.

Visit the CUNA Mutual website to read the entire list of award winners.


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Southeast Corporate holding town hall meetings

Brad Miller, President/CEO of Southeast Corporate FCU

Southeast Corporate Federal Credit Union has scheduled a series of regional meetings to discuss details of its proposed new Business and Capital Restoration Plan. The plan, which was outlined to member/owner credit unions in December 2010, includes key elements of the corporate’s business strategy and methodology for ensuring adequate capital to meet NCUA’s Regulation Part 704 requirements. 

Although the final plan will need NCUA approval, Southeast Corporate President/CEO Brad Miller noted that the town hall meetings will provide an opportunity to go over the business model and capital plans, answer questions and receive input from members at an early stage of the process. “Credit unions created and own Southeast, and their participation is essential to our mutual success,” Miller said.

Meeting dates are as follows:

  • Wednesday, February 2: Tallahassee, FL
    Southeast Corporate; 3692 Coolidge Court
  • Thursday, February 3:  Jacksonville, FL
    Southeast Corporate; 8400 Baymeadows Way, Suite 18

  • Wednesday, February 9: Lakeland, FL
    Publix Employees FCU; 3005 New Tampa Highway

  • Thursday, February 10: Miami Lakes, FL
    Don Shula's Hotel; 6842 Main Street

To attend one of the following meetings, members and other interested credit unions may register at www.secorp.org. All of the meetings will take place from 1 p.m. to 3 p.m. (local time).


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EMPLOYMENT
View available credit union jobs

To view the available jobs on the LSCU homepage, visit the LSCU CU Jobs Center. [ Return to Top ]

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