LSCU eSignal Weekly
LSCU eNews Weekly May 9, 2011
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LSCU eNews Weekly
In This Issue
LSCU Headlines
President's Point
SECUF begins awarding grants; continues to accept donations
Tuscaloosa credit unions barely miss being hit by tornado
Community CU begins using mobile branch in Rainsville
LSCU meets with credit unions in Cullman following tornadoes
NCUA activates Disaster Assistance for Alabama credit unions
Register today for the LSCU AC&E in Orlando in June
NCUA’s Interchange Costs Chart shows inaccuracies for larger issuers
New page added to Save my Free Checking website
LSCU audio podcast available on the effects of advocacy
Governmental Affairs News
Florida roundup: Legislators end a contentious session, focusing on the next steps
Alabama roundup: Major action surrounding Education Trust Fund, public meetings scheduled
Washington update: Both chambers back to work, various committee hearings slated
Donate item to LSCU's AC&E Silent Auction to benefit LSCU PAC, CMN
Alabama amusement park consignment tickets are available
Compliance Corner
League InfoSight highlight: Garnishment of Federal Benefit Payments
Compliance calendar and training
Cooperative Initiatives News
Scholarships available for LSCU educational events
Education News
2011 BSA Training Workshop coming up soon in Birmingham, AL
Be sure to register for the upcoming Disaster Recovery Conference
Education Calendar
LEVERAGE News
LEVERAGE brings the perfect gift for upcoming occassions
Free Discovery Webinar from CUNA Mutual: Technology Trends & Strategies for Credit Unions
HR Information Systems trends & outcomes
News from You
Tyndall FCU donates funds for tornado relief in Alabama
Listerhill CU launches Rebuild Alabama campaign
EMPLOYMENT
View available credit union jobs
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President's Point

This past week I spent three days, along with some of my staff, traveling across Alabama visiting credit unions in some of the areas hit hardest by the tornadoes. We visited Tuscaloosa, Birmingham, Gadsden/Rainsville and Cullman. All of these areas have devastation from the April 27 tornadoes that is truly hard to fathom until you see it firsthand.

In Tuscaloosa, we had a number of credit unions that were within a very short distance of the tornado that ripped through the city. Only DCH CU suffered significant roof damage, the others were relatively unscathed. DCH employees were actually in the credit union when the tornado came through. Many of their cars were badly damaged as their windows were blown out. DCH was open for business last Monday, but will need to temporarily move so repairs can be made. The one thing DCH CEO Kevin Maguire told me was that he couldn’t have made it through the first few days after the storm without Alabama CU and Tuscaloosa CU. DCH sent members to Alabama CU and Tuscaloosa CU to utilize their services even though membership and verification of funds could not be assured. As Kevin put it, “many of our hospital employees could access some of their money right away. They didn’t have any other banking options.” This is a great example of our collaborative spirit and the importance of shared branching.

Another example is Community CU in Gadsden; its Rainsville branch was completely wiped out by a tornado. Pen Air FCU in Pensacola quickly offered its mobile branch. League staff drove the branch up to Rainsville and the next day Community CU had it staffed and open for members. Joan Smith, COO of Community CU told us, “Knowing that we will be able to serve our Rainsville members on site is huge. The less additional stress we have to place on our members during this time, the better.”  The League had several Florida credit unions offer the use of their mobile branches as well as any other assistance Alabama credit unions might need in the aftermath of the storms.

In Cullman, none of our credit unions were hit by a tornado, but many worked for days on generator power or just utilized daylight hours for service. Listerhill CU’s branch in Cullman was in the direct path of a tornado before it suddenly turned and went around the credit union. The stories that we heard from all of our credit unions were incredible. Many were close enough that they could have easily been destroyed, but were somehow spared.

Soon after the storms, the Southeastern Credit Union Foundation’s (SECUF) Disaster Relief Fund began awarding immediate $1,000 grants to credit union employees that lost their homes and vehicles from the storms to assist them in the short term.  We have pledged additional assistance based on need as well as what insurance will not cover.  We have also began handing out up to $1,000 in grants to credit union members.  However, given the magnitude of this tragedy, we have to be much more selective and documentation of need and credit union membership is required.  The SECUF is still accepting applications for assistance. To apply for a Disaster Relief grant, click here.  

The National Credit Union Foundation (NCUF) has activated its online disaster relief system, CUaid.coop and as of last Friday, had raised more than $60,000 from credit unions and industry partners. The NCUF has dedicated all money raised through CUaid to assist Alabama, so I would encourage you to direct your charitable donation to the NCUF. You can feel confident your donation will be used wisely and will be directed to where it will have the greatest impact. CUaid money will flow through the SECUF and be distributed to those credit union staff, volunteers and communities that need it most. On Tuesday, the SECUF board of trustees will meet formally for the first time since the storms. In addition to reviewing our efforts to date and information learned from our visits last week, the goal is to lay out a plan going forward for additional assistance. Stay tuned for additional information.  

As I wrap up this edition of the President’s Point, what I can’t seem to get out of my mind, after visiting with credit unions in the hardest hit areas, was the attitudes of those affected. Everyone was thankful to be alive and hopeful for the future. I thought a few might be down, but even the credit union staff that didn’t have power, five days after the storm, were all positive, if not worn out.  I’m encouraged by the spirit of our credit unions and the communities they serve and the collective willingness to help one another. We met credit union staff that lost everything, but still felt compelled to come into work because they knew members would need access to the credit union. We truly have a unique cooperative model. This disaster just reinforces that credit union spirit.

Pass along any feedback you might have to this column.

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SECUF begins awarding grants; continues to accept donations

A damaged car in DCH CU's parking lot.

The Southeastern Credit Union Foundation (SECUF) spent the first part of last week in Alabama talking to credit unions that were affected the most by the rash of tornadoes to hit the state. While only a couple of credit unions sustained damage, many credit union staff lost everything. The SECUF began accepting Disaster Relief grant applications almost immediately. After visiting the credit unions, the SECUF began awarding grants in $1,000 increments. 

To date the first nine $1,000 grants have been awarded to credit union employees. Three employees from Family Savings Credit Union, based in Gadsden, had significant damage and lost their homes, while one employee is in the hospital in critical condition. The others receiving grants include two employees from DCH credit union, based in Tuscaloosa, one employee from Naheola Credit Union, based in Pennington, one employee from Family Security FCU, based in Decatur, and two employees from Community Credit Union, based in Gadsdent. Additional funds may be granted once preliminary insurance claims come back.

Also, all 15 DCH CU employees had significant damage to their vehicles as they were all at the credit union when the tornado struck. Grant applications for these employees are in the works to assist with repairs, replacement and rental car expenses outside of what their insurance will not cover.

If a credit union employee would like to apply for an SECUF Disaster Relief Grant, click here. If a credit union would like to donate to the SECUF Disaster Relief Fund, click here. Contact SECUF Executive Director Amber Tynan at 866.231.0545 ext. 1154. [ Return to Top ]

Tuscaloosa credit unions barely miss being hit by tornado

LSCU President/CEO Patrick La Pine sees the damage to DCH's building while Becky White, DCH assistant to the CEO tells him that their staff was still in the building when the tornado hit.

While most of the Tuscaloosa credit unions made it through last week's tornado OK, a few did sustain some damage. The League spent this past Monday in Tuscaloosa talking with credit unions and assessing the damage they sustained.

DCH Credit Union was the hardest hit after suffering damage to the front of the credit union. Many cars in the parking lot had windows blown out by the storm. DCH utilized shared branching for its members while it was closed. Alabama Credit Union and Tuscaloosa Credit Union helped DCH members access their money and helped them get a maximum of $200 out of their account, even though the DCH server was down. Many hospital employees, much of DCH's seg, count on DCH for accessing their money right after payday. Tuscaloosa was able to help the employees access the money.

"This really saved our hospital employees who had no other banking options," said Amy Price, DCH marketing director.

"The Tuscaloosa credit unions and their staff are truly amazing," said LSCU President/CEO Patrick La Pine. "They are working in buildings on generators while servicing members and working with them to access their money. Shared branching also helped DCH members when the credit union was closed. We are truly seeing the credit union spirit in the midst of this disaster.”

DCH also set up a mobile center in the cafeteria of the hospital to help members access their accounts. They allowed each member to get a $500 emergency loan. DCH processed $125,000 worth of emergency loans.

Two DCH employees also lost everything they had in the tornado. To put in perspective how this storm rolled through Tuscaloosa, Alabama One is a half block up and across the street from DCH and had some minor water damage. You can stand in Alabama One's headquarters and see destroyed homes across the street. Alabama CU is headquartered near the Alabama stadium and was in the path of the storm before it changed directions. They received no damage and their branches in Tuscaloosa made it through fine. They have some power outages in outlying branches like Cullman and Huntsville.

Alabama CU is working with its members to help them in the aftermath of the tornado. They are doing loan extensions, $1,000 no interest loans, waiving payments and restructuring loans. Tuscaloosa CU is working with the Southeastern Credit Union Foundation and the Tuscaloosa Housing Authority to see if they can help 116 families whose homes were destroyed in the tornado. The housing authority is finding the families homes, but they will need essentials like pots and pans, towels, sheets, Tupperware and furniture. [ Return to Top ]

Community CU begins using mobile branch in Rainsville

L to R: Patrick La Pine, Charlie Atchley, Community CU Chairman, Joan Smith, Community CU, COO, David Eubanks, Bill Berg, LSCU VP, Regulatory Affairs and Sharon Lett, Director of Human Resources beside the mobile branch.

The credit union that was hit the hardest during the tornadoes in Alabama was Community CU's branch in Rainsville. It was completely destroyed. Community CU CEO David Eubanks told the League that he could use a mobile branch to bring service back to his members.

Pen Air FCU in Pensacola offered its mobile branch the next day. The LSCU delivered the Pen Air mobile branch to Community CU in Gadsden Tuesday. After a short tour of the branch and how it worked, the League drove the mobile branch to Rainsville where a single drive up pneumatic tube system remains; the rest is a flat slab. Community set the mobile branch up Tuesday and began staffing it Wednesday for service.

Community CU CEO David Eubanks said, “Just being here means a lot." Eubanks also said that they will begin the process of rebuilding. He has already been in contact with the firm to begin putting building plans together.

No Community CU staff was injured in the tornado despite losing the entire branch.

Community CU's Rainsville branch before the tornado hit.

 

One teller tube is all that
is standing after the tornado. The mobile branch is in the
background.

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LSCU meets with credit unions in Cullman following tornadoes

The League visited the Cullman area on Tuesday. It was hit hard with more damage in certain areas but widespread power outages. Branch Managers at Alabama CU, Listerhill CU and America’s First FCU said their branches are in good shape. America’s First branch has been without power for a week now. They are utilizing 10 a.m. to 3 p.m. hours to capitalize on daylight and still service members.

Listerhill's Cullman branch was right in the path of the tornado before it suddenly veered off. Employees could see the tornado as it was barreling down on them.

Branch Managers at Alabama CU and Listerhill said they are working with members to extend loan payments, waive late fees and generally do what they can to ease the burden on their members during this time of need. One Alabama CU branch employee is still without power. Most of the rest of the credit union staff in the area are doing OK. [ Return to Top ]

NCUA activates Disaster Assistance for Alabama credit unions

In the wake of the tornadoes that struck Alabama last Wednesday, National Credit Union Administration (NCUA) Board Chairman Debbie Matz activated the agency’s disaster relief policy to assist credit unions and their members in rebuilding and recovering in severely damaged areas across the southeast.

Under the agency’s disaster assistance policy, the NCUA will, where necessary:

  • Encourage credit unions to make loans with special terms and reduced documentation to affected members
  • Reschedule routine examinations of affected credit unions if necessary
  • Guarantee lines of credit for credit unions through the National Credit Union Share Insurance Fund
  • Make loans to meet the liquidity needs of member credit unions through the Central Liquidity Facility.

“Credit unions are about people helping people,” said Chairman Matz. “Credit unions should reach out to their members and assist them. For example, credit unions could offer loans with special terms like lower rates or extended maturities. NCUA also remains committed to providing material and technical assistance for storm-affected credit unions.”

After natural disasters, the NCUA works with individual state league organizations and state regulators to ensure all federally insured credit unions know of NCUA’s available assistance. The agency’s examiners have therefore remained in close contact with the affected local credit unions to offer advice and assistance. During disaster conditions, NCUA personnel operate under three priorities:

  • Ensure the safety of credit union staff
  • Keep facilities and operations available to members
  • Provide material and technical assistance, as needed, to affected credit unions

Federal credit unions may also provide assistance to other credit unions and non-members in the affected areas, under certain conditions:

  • A federal credit union may provide services to persons who are members of another credit union under their correspondent services authority
  • Emergency financial services for non-members, including check cashing, access to ATM networks, or other services to meet short-term emergency needs of individuals in the areas affected by the storms, can be provided under the authority to engage in charitable activities
  • Federal credit unions providing services on a charitable basis may not impose charges for services that exceed their direct costs

Click here to read the entire release by the NCUA.  [ Return to Top ]

Register today for the LSCU AC&E in Orlando in June

NCUA Chairman Debbie Matz, MSNBC's Morning Joe co-host Joe Scarborough Sen. Bill Nelson (D-FL)  highlight the list of speakers for the 2nd LSCU Annual Convention and Exposition (AC&E) June 16-19 in Orlando. The NCUA Chairman Debbie Matz will speak at the League's Annual Business meeting on Friday June 17. Matz's appearance will give credit unions an opportunity to hear directly from her as she speaks on a number of regulatory topics including the latest on the corporate stabilization plan. Also slated to present at the AC&E will be National Credit Union Foundation Director Bucky Sebastian and CUNA Mutual Group Vice President Bob Trunzo.

Credit unions will have a number of breakout sessions to choose from including a regulator roundtable with state regulators, an economic outlook from CUNA Economist Mike Schenk, the Power of Social Media on Any Budget, PR Opportunities for Credit Unions, and Fiduciary Responsibilities for Credit Union Directors, to name a few. Credit unions may also take part in the LSCU Councils, which will meet on June 16. Credit union directors have the opportunity to become compliant by taking part in an NCUA Financial Literacy breakout session on Saturday June 18.

Credit unions will have approximately six hours of exhibit hall time. With more than 120 vendors, the LSCU Exhibit Hall will be one of the largest in the country. The AC&E is an excellent all-in-one place to learn about the many business solutions for credit unions.

To learn more about the LSCU's AC&E and to register, visit the LSCU Convention and Exposition page.

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NCUA’s Interchange Costs Chart shows inaccuracies for larger issuers

The information the National Credit Union Administration Board sent to the Federal Reserve Board on debit interchange transaction costs for credit unions has caused quite a bit of conversation among the credit union community.

The information from NCUA on credit union debit card processing costs, which included a letter and a chart, was requested by Senator Durbin’s office, according to the agency. The letter itself seeks relief for smaller credit unions by requesting the Fed exempt them from the routing and exclusivity arrangement provisions. (These provisions give merchants flexibility to direct debit card transactions to achieve the lowest costs and require all issuers to participate in at least two independent networks; the statute does not provide the Fed with authority to exempt issuers.) The chart accompanying the letter is the chief concern as it grossly understates the amount of debit card costs for large issuers. Here is a link to NCUA’s letter (including the chart) in case you have not already read it.

NCUA’s data is based on a March 2011 sampling of 296 credit unions. As NCUA noted in its letter and CUNA reported, the agency acknowledged that its “analysis likely underestimates costs for debit card transactions.”  However, the concerns about the chart are that individuals may not read the letter and there will be a tendency to accept NCUA’s information as totally accurate and complete, since it originated from a federal regulatory agency. As a result, we are concerned that not only the Federal Reserve Board might accept this information as valid, but also that opponents of the delay of the interchange amendment might want to utilize the misinformation to prevent the postponement. Unless Congress acts, the debit interchange fee ceiling will be effective July 21, 2011.  

In response, CUNA is urging the Board to revise the chart to reflect actual costs associated with debit card transactions. In a letter I sent to Chairman Matz yesterday, I am urging NCUA to “communicate that (revised) information to the Federal Reserve Board as soon as possible.” Rest assured, we are pursuing a correction from NCUA with vigor and pushing as aggressively as possible on this. We are also working with several large credit unions, leagues, and payment networks to provide better data to policymakers. [ Return to Top ]

New page added to Save my Free Checking website

The Save My Free Checking website has been updated to include a page specifically for credit union members outside of the state of Michigan. Since the website was developed by the Michigan Credit Union League, the call to action page had been very Michigan specific. The LSCU asked the Michigan League to add a second page for the other states. The new page drives members to a use the CUNA capwiz Grassroots Action Center. Once there, members can simply put in a zip code to find their member of Congress and send an email. The CUNA "Call on Congress" number is also listed.

This new page can be linked through each credit union's website via web banners that are available. Visit the LSCU's MBL and Interchange Resource page for more resources including "Ask me how to save my free checking" stickers, the web banners and CUNA's "Call on Congress" cards.

If you have any questions about the "Save My Free Checking" campaign, contact LSCU VP, Marketing and Communications Mike Bridges at 866.231.0545 ext. 1022. [ Return to Top ]

LSCU audio podcast available on the effects of advocacy

With so much credit union legislation in the works on the national and state level, credit unions have been asked to take part in many Action Alerts. In a new audio podcast, LSCU VP, Marketing and Communications Mike Bridges talks with Alabama CU CEO Steve Swofford about advocacy and why it's important to credit unions. Swofford says advocacy has been a part of his life dating back to when he worked for the Alabama Credit Union League in Government Affairs.

Swofford talks about how he gets his employees involved in the Action Alerts and what he did to get them to buy in. Alabama CU has also had success in getting members to contact their member of Congress. The podcast is a great opportunity for credit unions to gain insight into the importance of advocacy and how it can help them get involved in the legislative process. 

To access the podcast, visit the LSCU Audio Podcast center.  The audio will stream right from the website. If you have any trouble accessing the podcast, contact Bridges at 866.231.0545 ext. 1022. 

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Governmental Affairs News
Florida roundup: Legislators end a contentious session, focusing on the next steps

Florida Politics Week in Review

The House adjourned sine die shortly after 2 a.m. on Saturday, while the Senate followed suit at 3:35 a.m. There was no ceremonial dropping of the handkerchief, no hugging, handshakes, or back slaps by members of the two chambers, and no speech by Gov. Rick Scott. What seemed like a normal final day of the session turned into a political backyard brawl, culminating with an extension, political priorities failing to pass, and an early morning end to a 61 day legislative session.

Public Deposits Legislative Update:

The League’s top legislative priority, public depository choice reform, officially died in committee. HB 999 by Rep. Clay Ingram (R-Pensacola) died in the House Economic Affairs Committee, while SB 1976 by Sen. Oscar Braynon (D-Miami Gardens) died in the Senate Banking and Insurance committee. The LSCU Government Affairs team intends to start early in their efforts to pass this legislation in the 2012 Legislative Session. Please be on the lookout for grassroots alerts regarding this effort.

OFR Bill Update:

HB 1121, by Rep. Ingram passed unanimously out of the House and the Senate and will now be sent to the governor for his signature.

What’s Next?

Now that the Legislative Session has come to an end, the League will be focusing its efforts on ensuring that their voice is heard throughout the State. LSCU needs your help to ensure that pro-credit union candidates are being elected to the Florida Legislature. Members of the House and Senate will return to their districts and begin focusing on re-election and campaigning for new candidates. There is a great need to continue to be involved in these campaigns, financially as well as through personal outreach. The association has the opportunity to be visible and effective, but it cannot be done without your help. It is imperative that the League continues to meet their PAC Fundraising goals, as well as continue their efforts to reach out to members of the Legislature. The House and Senate will be back in Tallahassee in January for the 2012 Legislative Session, 2 months earlier than the normal March starting date, so there is no time to waste. LSCU would like to thank you for all you did to help in the 2011 session, and they look forward to an even more successful 2012 session.

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 ]

Alabama roundup: Major action surrounding Education Trust Fund, public meetings scheduled

Both chambers plan to reconvene Tuesday, May 24 in order to address lingering issues as well as reapportionment of the Alabama Congressional and School board districts. This two-week break will allow for statewide meetings to discuss the reapportionment plans and have the legislation ready to go on the 25th legislative day. Below is a list of the scheduled public meetings that will take place over the next two weeks:

05/09/2011 6:30 p.m., Von Braun Civic Center, Huntsville

05/10/2011 6:30 p.m., Birmingham Jefferson Civic Center, Birmingham

05/11/2011 6:30 p.m. Tillman's Corner Community Center, Mobile

05/13/2011 12:00 noon, Statehouse Joint Briefing Room (807), Montgomery

05/12/2011 6:30 p.m., location to be determined, Selma

05/18/2011 10:00 a.m. Joint Briefing Room, Alabama Statehouse (807)

05/18/2011 2:00 p.m. Statehouse Joint Briefing Room (807)

05/19/2011 10:00 a.m. Joint Briefing Room, Alabama Statehouse (807)

Legislative Movement

The major action last week in the Alabama Legislature came when the Senate passed the Education Trust Fund (ETF) on Wednesday. This puts both the ETF and the General Fund Budget in conference committee to work out the differences between House and Senate changes in order to send them to Gov. Bentley’s desk. House Speaker Mike Hubbard (R-Auburn) indicated on Thursday that he would like for the committee to work on both budgets over the break in order to have them ready upon return.

LSCU Legislative Update

The LSCU is continuing to work on the right of redemption and used motor vehicle dealer legislation and at this point is still hopeful that they will pass this session. Currently, the used motor vehicle dealer legislation has a little more traction due to concerns recently brought up by the Senate Black Caucus. These issues are trying to be worked out, and it is the League’s hope that by the end of the break there will be a bill that can move out of the Senate.

If you have any questions on the Alabama Legislature, contact LSCU Director, Legislative Affairs Jason Cochran at 866.231.0545 ext. 2159. [ Return to Top ]

Washington update: Both chambers back to work, various committee hearings slated

The Senate returns today and will consider judicial and executive branch nominations today and tomorrow. The Senate schedule for the remainder of the week is uncertain. The Small Business Re-authorization Bill which has been on the floor for several weeks remains pending - an attempt to invoke cloture on this legislation was unsuccessful last week. It is possible that the Majority Leader will take this bill down and move to other legislation; however, at this time, it is not clear what that will be.

The House comes back on Tuesday. The House will debate H.R. 1229, the Putting the Gulf of Mexico Back to Work Act. On Wednesday and the remainder of the week, the House will debate H.R. 1231, related to the offshore drilling moratorium, and H.R. 754, the Intelligence Authorization Act for Fiscal Year 2012.

Committee Hearings

We are following several hearings on both sides of the Capitol.

On Tuesday, the Senate Banking Committee will hold a hearing to review the final report of the Financial Crisis Inquiry Commission. 

On Wednesday, the House Financial Services Committee Subcommittee on Domestic and Monetary Policy and Technology will hold a hearing on “Monetary Policy and the Debt Ceiling: Examining the Relationship Between the Federal Reserve and Government Debt.”

On Thursday, the Senate Banking Committee will hold a hearing on “Oversight of Dodd-Frank Implementation: Monitoring Systemic Risk and Promoting Financial Stability.”  Witnesses will include Deputy Treasury Secretary Neal Wolin; Federal Reserve Chairman Ben Bernanke; Federal Deposit Insurance Corporation Chairman Sheila Bair; Securities and Exchange Commission Chairman Mary Schapiro; Commodity Futures Trading Commission Chairman Gary Gensler; and Acting Comptroller of the Currency John Walsh. Also on Thursday, the Senate Banking Committee subcommittee on Housing, Transportation and Community Development will hold a hearing on “The Need for National Mortgage Servicing Standards.” 

Thursday on the House side, the House Ways and Means Committee will hold a hearing on the “Need for Comprehensive Tax Reform to Help American Companies Compete in the Global Markets and Create Jobs for American Workers.” And, the House Financial Services Committee will hold a full committee markup of legislation to extend the deadline for implementation of the Dodd-Frank Act's provisions regarding derivatives; to reauthorize the National Flood Insurance Program; and to improve the Consumer Financial Protection Bureau.

When the House completes its business for the week, it will recess until May 23.  The Senate will be in session next week.

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

Donate item to LSCU's AC&E Silent Auction to benefit LSCU PAC, CMN

The LSCU 2nd Annual Convention and Exposition (AC&E) is approaching and the silent auction is one of the favorite events. For this year’s silent auction, each dollar raised for the LSCU’s Political Action Committees (PAC) will be matched with a donation from LEVERAGE, the LSCU Service Corporation, to Children’s Miracle Network. This is a great way to support political advocacy while also raising funds for charity.

Attendees have fun bidding on items varying from the newest electronic gadgets to luxurious vacations. There will be advance bidding available on June 18 for attendees from 8 a.m. – 5 p.m. The auction takes place during the Dinner & Entertainment Saturday night beginning at 6:30 p.m. and concluding at 10 p.m.

All donors will be listed and displayed during the silent auction. To donate to this year’s silent auction, contact Grassroots and Political Action Coordinators Justin Thames at 866.231.0545 ext. 1010 or Robbie Gordon at ext. 2164. [ Return to Top ]

Alabama amusement park consignment tickets are available

Alabama Adventure and Six Flags consignment tickets are on sale now! This is a great way for credit unions to meet their state PAC goals and give their members a way to have family fun over the summer. The tickets are significantly lower than gate prices when purchased through the credit unions.  For questions on consignment ticket sales, contact LSCU Grassroots and Political Action Coordinator Robbie Gordon at 866.231.0545 ext. 2164, or fax order forms to 205.437.2264.


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Compliance Corner
League InfoSight highlight: Garnishment of Federal Benefit Payments

The current edition of the League InfoSight newsletter has an article about the new topic Garnishment of Federal Benefit Payments, which has been added to the Accounts, Bankruptcy and Collections channels of InfoSight. Effective May 1, 2011, credit unions are required to review each garnishment order that they receive and determine if Federal Benefits are directly deposited into the account being garnished.

The Department of the Treasury recently released its interim final rule to implement statutory restrictions on the garnishment of Federal benefit payments.The rule establishes procedures that credit unions must follow when they receive a garnishment order against an account holder who receives Federal payment benefits by direct deposit. This rule can be found in 31 CFR Part 212.

Read more by visiting League InfoSight.

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 hereto 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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Compliance calendar and training

Compliance Calendar

May 24
EEOC Final Rule to implement ADA requirements – Effective Date

For the complete list of calendar dates and compliance trainings, visit the LSCU Compliance Calendar

*Note - Compliance Calendar requires your League InfoSight login.
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Cooperative Initiatives News
Scholarships available for LSCU educational events

Scholarships are available to upcoming LSCU educational events, including  the AC&E in June in Orlando and the Development Conference in November in Point Clear, AL, according to Executive Director of the Southeastern Credit Union Foundation Amber Tynan. Scholarships are also available for CUNA’s educational events and the Southeast Regional Credit Union Management School in Athens, GA.

“Scholarships from the Foundation cover tuition and travel expenses,” said Tynan. “The scholarship program is open to employees and volunteer officials of affiliated credit unions. It is designed for credit unions under $35 million in assets, but applications from employees and officials from larger credit unions will be considered.” 

The scholarship application and guidelines are available by clicking here.

For additional information on scholarships, contact Amber Tynan at 866.231.0545, ext. 1154 or LSCU VP, Cooperative Initiatives, Laura Vann at  866.231.0545, ext. 2181. [ Return to Top ]

Education News
2011 BSA Training Workshop coming up soon in Birmingham, AL

The LSCU will be holding its third BSA Training Workshop of the year in Birmingham, AL in two weeks! Two two identical sessions are offered; one in the morning and one in the afternoon.

This BSA Training class is appropriate for frontline staff, lenders, officials, managers and compliance officers. The two-and-a-half hour class incorporates a Currency Transaction Report workshop and a Suspicious Activity Report workshop (focusing on narrative preparation) in which attendees study completed forms based on several common scenarios. A few of the topics discussed will include: Bank Secrecy Act program oversight, creation and maintenance, risk assessment, review of Currency Transaction Reports, Currency Transaction Report exemptions, filing requirements, technology, the Bank Secrecy Act plus many more areas.

Locations:

May 18    Birmingham, AL / LSCU Ground Floor Conference Room

(Click session for: morning or afternoon)

The cost for each course is $75 per person. For more information, visit the LSCU Education Calendar. [ Return to Top ]

Be sure to register for the upcoming Disaster Recovery Conference

Recent natural disasters, accidents, and attacks have directly disrupted business operations and shown that an organization’s resilience to a disaster and ability to resume business is directly related to it’s preparedness to respond to unforeseen events. Having a definitive response plan is essential to remain viable, especially in today’s rough economic climate. Attend this conference to learn how to safeguard your credit union and learn valuable tips on how to create a well prepared disaster plan of action.

Who should attend? Presidents, CEOs, COOs, CFOs, Senior Operations Personnel and anyone else involved with developing and implementing the disaster preparedness plan of their credit union.

LSCU Disaster Recovery Conference: Tuesday, July 12 - Wednesday, July 13

For more information or to register, visit the LSCU Events Calendar or contact LSCU Association Services Support Specialist, Becki Payne at 800.846.8374, ext. 2129. [ Return to Top ]

Education Calendar

Upcoming Events:

Wednesday, May 4
Consumer Lending Series
3:00pm – 4:30pm EST – webinar

Thursday, May 5
Managing E-Sign / Statements / Disclosures
3:00pm – 4:30pm EST – webinar

Tuesday, May 10
Improving Your Delinquency Numbers
3:00pm – 4:30pm EST – webinar

Click here to view complete calendar of events. [ Return to Top ]

LEVERAGE News
LEVERAGE brings the perfect gift for upcoming occassions

As Spring flowers begin to blossom, it is a sure sign that Mother’s day, Father’s day, and graduation are right around the corner. Be sure your credit union is prepared to offer the LEVERAGE Gift Card Program so members can conveniently purchase gifts for upcoming occasions. The cards are loaded through a very simple web-based application and can be any dollar amount from $10 - $750. The program overall has low implementation costs and provides additional income-earning opportunities for your credit union. Additional services include the ability to track purchases and check balances online and access to an automated toll-free number for balance verification. With more than 20 different card designs, members can choose which card best fits their occasion.

For more information, contact your Business Development Consultant. [ Return to Top ]

Free Discovery Webinar from CUNA Mutual: Technology Trends & Strategies for Credit Unions

The webinar will be presented by Rick Roy, senior vice president, chief information officer, CUNA Mutual Group on Tuesday, May 24 at 12:15 p.m. CT.

Rick leads IT strategy and delivery for CUNA Mutual and its affiliates. He is a recognized technology industry thought leader and has been honored by leading technology publications for his IT leadership and innovation while at CUNA Mutual.

To register, visit www.cunamutual.com/technologywebinar/league

If you were unable to attend last week’s Discovery Webinar, The Road Ahead: Making the Most of Every Leading Opportunity, be sure to click here for the recording and presentation. [ Return to Top ]

HR Information Systems trends & outcomes

As businesses grow and expand into other markets to drive profitability and growth, many are finding it difficult to keep track of their data across multiple office locations and cultures. This trend also creates a greater need for a central source of all employee data, which allows companies to know who reports to whom, get an accurate global head count, see global staffing, implement global policies and procedures, and review the entire company in both local and corporate currencies.

An HRIS solution helps companies more effectively manage and support their staff. Selecting the right HRIS solution for your credit union can mean the difference between achieving goals and coming up short.

How do you choose an effective HRIS solution? Begin by determining what you want to accomplish through the deployment of an all-in-one HRIS solution. Below are some recommended tips to determine your overall goals:

  • Separate the vendor marketing hype from the reality by checking references
  • Determine how much functionality you currently need as well as future growth potential
  • Think about the need for user-friendly simplicity versus complex functionality
  • Set realistic/achievable requirements and goals by setting up phases with growth over multiple years – it’s not a one shot deal and should be a long-term partnership
  • Look at what features are available: does the system manage audits, employee logs, and compliance to better serve managers and staff in multiple locations

Compliance issues, distance barriers, and most importantly, the transfer of employee data, must be addressed in today’s marketplace. A global system of record can address these needs, providing a central source that connects multiple systems and that provides a company-wide communication portal. For more information on HRIS, contact a Business Development Consultant. [ Return to Top ]

News from You
Tyndall FCU donates funds for tornado relief in Alabama

Tyndall Federal Credit Union representatives welcomed the opportunity to meet with Joe Kennedy from the American Red Cross to present him with a check for $1,000 to help the victims of the tornadoes in Alabama. In addition, representatives from their Dothan, AL branch donated cases of bottled water to help in the relief efforts.

“As part of the Alabama community, we felt it was important to offer assistance to the residents in the areas devastated by the tornadoes,” said Tyndall FCU President and CEO, Jim Warren. “While our headquarters may be in the Florida Panhandle, we have branches in Dothan, Mobile, and Spanish Fort, AL as well, and we wanted to show our support. Living in the southeast, we have seen the destruction such storms can do and we wanted to do our part to help.” [ Return to Top ]

Listerhill CU launches Rebuild Alabama campaign

Many are accepting donations for those affected by Wednesday’s storms, but Listerhill has gone above and beyond by launching its new Rebuild Alabama campaign. By partnering with their members and local community, Listerhill has established a fund to benefit the Red Cross of Northwest Alabama. Not only that, but Listerhill has committed to matching donations given, dollar-for-dollar, up to $20,000 total.

“There is not a single employee of Listerhill Credit Union who has not been touched in some way by the recent events in our state,” said President Brad Green. “Several of our own branches have been out of service because of the storm and employees have been without electricity, water, and gasoline. Some even have family members who have lost everything. The Red Cross and other relief organizations are doing their part to help those in need and we are honored to be able to partner with them to provide the monetary support necessary to rebuild the state that we love.”

“Our members and community have allowed us to serve them financially for the past 50 years,” said Vice President of Finance Clay Morgan. “This campaign is simply an extension of our commitment to the people of north Alabama." [ Return to Top ]

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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