LSCU eSignal Weekly
LSCU eNews Weekly May 16, 2011
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LSCU eNews Weekly
In This Issue
LSCU Headlines
President's Point
LSCU announces recipients of LSCU awards
SECUF aims to meet needs of credit unions in disaster-stricken Alabama
Fed Chairman Ben Bernanke cites reasons for interchange concern
NCUA receives independent audit
LSCU Statewide Image Campaign TV ad filmed in Birmingham
New LSCU multimedia available including video chat with Rep. Alcee Hastings
2011 LSCU Annual Convention & Exposition
You don't want to miss this year's Annual Convention & Exposition
LSCU AC&E offers great value on educational topics
Now taking items for the LSCU AC&E Silent Auction benefitting CMN and PAC
Governmental Affairs News
This week in Alabama politics: Re-drawing Congressional and School Board Districts top the list
News from the Hill: Budget still most important topic, interchange legislation update
This week in Florida politics: FL leads nation in mortgage fraud, high-speed rail money sent away
Alabama amusement park consignment tickets are available
Compliance Corner
League InfoSight highlight: Addition of Small Business Health Care Tax Credit, FREE NCUA webinar
League InfoSight gaining more readers every month
Quarterly Compliance Call on Legal Issues in Collections
Compliance calendar and training
Cooperative Initiatives News
International CU Day celebrates financial co-ops' global impact
Education News
Make attending a LSCU Council meeting a priority today
Education Calendar
LEVERAGE News
Free Discovery Webinar from CUNA Mutual: Technology Trends & Strategies for Credit Unions
Your in for a treat from Office Depot and Jelly Belly!
News from You
Redstone FCU feeds area tornado survivors and recovery volunteers
Pen Air FCU gives back to members through Premier
EMPLOYMENT
View available credit union jobs
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LSCU Headlines

President's Point

This past week I hosted a group of league presidents and other system partners such as CUNA, CUNA Mutual and CO-OP in Perdido Bay, Florida. This retreat, which was started 33 years ago by former ACUL President Gary Wolter, is designed to give league presidents and a select group of system leaders the opportunity to discuss issues of importance to the industry in a more informal setting without having other staff and the trade press present. This year’s meeting came on the heels of the National Credit Union Roundtable meeting in New Orleans.

In conjunction with the Roundtable meeting, a systems partnership meeting was also held.  I was told that one of the topics of discussion at this meeting was the future of the credit union movement.  I’ve been lobbying CUNA and AACUL to undertake a process where we begin to develop a true strategic vision for the industry. This is something CUNA President/CEO Bill Cheney has also been championing and if you attended one of the Alabama or Florida town hall meetings earlier this year you probably heard him talk about it.  With all the fundamental changes the financial services industry has undergone during the last couple years, where do we expect and/or want the credit union movement to be in 2020? Every credit union and league should have a strategic plan (short-term and long-term), why not the movement as a whole?

As I’ve previously stated, collaboration has never been more important and will continue to be a major topic in the coming years for credit unions, leagues and our national trade associations. The LSCU & Affiliates is reaching out more than ever to build partnerships to bring best in class products and services to our credit unions, as well as assist other leagues in helping their credit unions be successful. While in Perdido, I signed a LEVERAGE marketing agreement with the Credit Union Association of the Dakotas to remarket Ventelligence to North and South Dakota credit unions. I was also able to finalize negotiations with another league on a marketing agreement which we will be signing this week. Stay tuned for these and several exciting announcements over the coming weeks leading up to the AC&E next month.

As you would imagine, growing regulatory burden and the need to push back against the NCUA came up during the Perdido meetings. The league presidents talked about how we can collectively pursue advocacy efforts at the national level on the regulatory front. This means engaging the NCUA more directly at the central office as well as the regional level. The LSCU has been doing more of this by having NCUA Region III Director Herb Yolles at many of our events or meeting with him in his Atlanta office. Next month, the NCUA has invited me to speak with all of its examiners in Region III in Destin. This will give me a chance to speak on your behalf to the examiners you deal with on a regular basis. Herb and I continually talk about ways to open up the line of communications between credit unions and examiners to develop a working relationship based on mutual respect.  NCUA Chairman Debbie Matz is a featured speaker at our annual meeting June 17 in Orlando.

As the league presidents and system partners left Perdido Bay following two days of meetings, we talked about future opportunities for greater collaboration and vision sharing.  It will take hard work and, in some cases, a new way of thinking for many within our industry. However, if we’re to grow and have a sustainable business model, it will be through breaking down older stereotypes and focusing on what is best for our credit unions and the members they serve.  I welcome your thoughts and feedback.

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LSCU announces recipients of LSCU awards

The LSCU is proud to recognize these professionals, volunteers, and credit unions that have made outstanding contributions to the development and growth of the credit union movement in Alabama and Florida. Congratulations to the following recipients of the LSCU's prestigious awards:

Distinguished Service Award: Bill Marquardt (posthumous), former CEO, City County CU of Ft. Lauderdale, FL

For 17 years, Bill led City County Credit Union as CEO until he passed away late last year. During his time at the credit union, Bill remained focused on member service and, in turn, received CUNA Best Practices Award, Sales & Service. He made sure his employees were taken care of through excellent benefits, a culture of integrity, communication, and employee development. He also opened a car dealership, AutoBranch, at the credit union to ensure members who were buying vehicles were treated with honesty and respect which led to him being featured in several magazines as an expert on collections and "repos." In addition Bill was very involved in the Florida Credit Union League, serving as a director on the FCUL Service Group Board and a member of the Credit Union Political Action Committee with involvement in advocacy on the local, state, and national level.

Professional of the Year: Joe McGee, president/CEO, Legacy Community Credit Union, Birmingham, AL

Joe began his credit union career at the Alabama Credit Union League. He then moved to Legacy CU in 1991 and became president/CEO in 1999. He is an active credit union advocate, participating annually in Hike the Hill and, in 2006, testified before the Senate subcommittee of Banking, Housing, and Urban Affairs on the Consideration for Regulatory Release Proposals. Joe was an integral part of the consolidation of the Alabama and Florida leagues and is currently chairman of the LSCU Board of Directors. Joe is active at the chapter level and is a huge proponent of staff involvement in the chapter.

Volunteer of the Year: Maurice W. Johnson, chairman, Pen Air Federal Credit Union, Pensacola, FL

Maurice has been a member of the credit union since 1965, and has served on supervisory committee, then board of directors for more than 30 years, serving the past seven as chairman. He is active in political action and makes trip to DC every year to promote credit unions. Maurice is also active in the chapter by attending all chapter meetings as well as other major credit union conferences. His influence has helped Pen Air earn 5-star superior rating from Baur Financial for 80 consecutive quarters as of December 2010.

Credit Union of the Year:

Less than $100 million in assets: NAHEOLA Credit Union, Pennington, AL

Mark Johnson is CEO of this $72 million in assets credit union that has grown $900,000 over the past 18 months with a net worth of 22.5 percent and a one percent delinquency rate. Community minded, the credit union provides financial training to the local middle school, high school, and college and provides a "job shadow" program for local college accounting students. In 2010, the credit union unveiled its "Simple" campaign to market to non-members, focusing on products, services, and alternatives services like online banking.

$100 - $500 million in assets: Alabama Credit Union, Tuscaloosa, AL

Steve Swofford is the president/CEO of this $410 million in assets credit union that has grown $61 million over the past 18 months with a net worth of 9.6 percent. Membership has grown by 1,700 in the past 18 months as well. The credit union provides financial literacy to local schools and developed "Secret Meals for Students," a program where kids secretly get meals in their backpacks for the weekend. The program grew in one year from one school to 48 and from 18 students to 900 while raising $139,000 for the program. Advocacy is a priority for this credit union and staff is regularly educated on the issues and participate in payroll deduction for CULAC.

$500 million and over: CFE FCU, Lake Mary, FL

Joe Melbourne is the president/CEO of this $1.2 billion in assets credit union that has grown $48 million over the past 18 months with a net worth of 11.7 percent. The credit union opened three new student-run branches in 2010. CFE financial literacy in classrooms reached almost 10,000 students over the past two year, and the credit union supported four school districts with donations and sponsorships totaling more than $200,000. A $60,000 donation was made to three school districts based on the MyCFE4Schools partnership program in which CFE donates five cents for every signature transaction. 

The awards will be presented during the LSCU AC&E Closing General Session on Saturday June 18, 2011 in Orlando, FL. [ Return to Top ]

SECUF aims to meet needs of credit unions in disaster-stricken Alabama

Credit unions and the communities they serve can be comforted knowing there is a resource to assist them in getting back to “business as usual” following the devastating storms across the state. The SECUF announced it will match up to $100,000 of donations made to the National Credit Union Foundation’s (NCUF) CUAid (www.CUAid.coop) program. The matching dollars will further community reinvestment projects.

“The storm was so powerful that two weeks later there are still credit unions and credit union staff that need assistance,” said SECUF Chairman Joe McGee. “We’re extremely thankful that the foundation and our peer credit unions have risen to the occasion to aid in the disaster relief efforts for credit unions, their employees and members in Alabama. Our matching funds will only further the aid the SECUF and CUAid will be able to provide.”

The SECUF has been continually working to initiate financial assistance to credit unions in need. The foundation is offering a LSCU Chapter community project match to Alabama credit union chapters affected by the storms of up to $10,000. This money will help chapters finish projects in their respective areas. The SECUF also announced a $25,000 donation to Red Cross of Alabama to help aid the many people displaced throughout the state.

Many credit union staff were severely affected by last month’s tornadoes, and the SECUF has given out more than 30 emergency grants to credit union employees with a promise for more aid in the future based on documented need.

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 ]

Fed Chairman Ben Bernanke cites reasons for interchange concern

“It's going to affect revenue of small issuers. And it could result in some smaller banks being less profitable or even failing," Bernanke told the Senate Banking Committee last week in response to questions from Sen. Jon Tester (D-MT)

The lawmaker is sponsoring legislation that would delay the implementation of the Federal Reserve’s rule regulating debit interchange fees by two years while financial regulators, including the NCUA, study the issue.

Sen. Tester has said he has the 60 votes needed to defeat a likely filibuster but hasn’t found a legislative vehicle to attach it to. The Fed has been drafting the rule as a result of the Durbin Amendment to last year’s financial overhaul bill. The amendment was sponsored by Sen. Majority Whip Richard Durbin (D-IL)

The Fed issued a drafted rule in December and was supposed to issue a final rule next month but has been delayed in doing so because it is still going through the large number of comments it received on the proposal. The final rule is supposed to take effect in July.

Acording to the proposed rule, the allowable costs for interchange would be limited to no more than the issuer's allowable costs divided by the number of electronic debit transactions on which the issuer received or charged an interchange transaction fee in the calendar year. Or the issuer could receive debit interchange capped at 12 cents per transaction. [ Return to Top ]

NCUA receives independent audit

The National Credit Union Administration released its 2010 audited financial reports for its four permanent funds, including the National Credit Union Share Insurance Fund (NCUSIF). All four funds received unqualified or “clean” audit opinions.

“The National Credit Union Share Insurance Fund that protects more than 90 million consumers’ deposits up to $250,000 has yet again received an unqualified opinion of its financial condition,” said NCUA Board Chairman Debbie Matz. “The fact that independent, outside auditors issued an unqualified opinion with no reportable conditions is a testament to NCUA’s diligent oversight and protection of the share insurance fund for credit unions nationwide.”

In addition to the NCUSIF, auditors also certified the financial accuracy of three other NCUA funds: the Operating Fund, the Community Development Revolving Loan Fund, and the Central Liquidity Facility. KPMG LLP completed the audits of all four funds. Expected this summer, KPMG also will provide its opinion of the financial statements for the Temporary Corporate Credit Union Stabilization Fund

The CU Times is reporting that the audit did find “significant deficiency’’ in the agency’s financial accounting for its Operating Fund. The Times reports that this included problems by management  to provide key documentation related to property and equipment, a “lack of efficiency’  in record keeping and financial close procedures and a lack of documentation of activities aimed at confirming journal entries documenting that certain transactions were made as approved.

The agency told the Times that it had already "made some improvements to its accounting system and would make more of them to respond to the deficiencies."

The financial reports are available on the NCUA's website.

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LSCU Statewide Image Campaign TV ad filmed in Birmingham

One of the main components of the LSCU Statewide Image Campaign is a television commercial. This past week the TV ad was shot in downtown Birmingham by Scout Branding Company. The ad features an actor, Peter Linds, speaking directly into the camera pointing out that "60 percent of you don't know what a credit union is" and then contrasting that to not knowing what chocolate tastes like or what a hug feels like. While letting the viewer know a credit union is a better place to do your banking, the actor says, "being a member of a credit union is like finding money every day." The ad is based on the tagline, "Credit Unions: we're giving banking a better name." To see a behind-the-scenes video of the TV ad and to hear the concept behind the ad, visit the LSCU Video Center.

The finished TV ad will be shown for the first time at the AC&E in June in Orlando. An Image Campaign booth will also be at the AC&E for credit unions to see the ad and to check out the other collateral materials including what the billboards will look like. Fundraising for the LSCU Statewide Image Campaign will continue through June with the campaign kicking off in the fall around Labor Day. The LSCU is getting close to $1 million raised throughout Alabama and Florida.

For more information on the campaign, contact LSCU VP, Marketing and Communications Mike Bridges at 866.231.0545 ext. 1022. 

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New LSCU multimedia available including video chat with Rep. Alcee Hastings
The LSCU has a number of new multimedia on its website. Credit unions will find a new video titled LSCU Lawmaker Visit with Rep. Alcee Hastings. Rep. Hastings (D-FL) chats with BrightStar board chair Dorothy Orr about his longtime membership with the credit union. Rep. Hastings has had many loans through the credit union and says his service at BrightStar has always been the best. You can view the video in the LSCU Video Center

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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2011 LSCU Annual Convention & Exposition
You don't want to miss this year's Annual Convention & Exposition

This conference has set out to take AC&E participants on a galactic journey to help better define our future within our credit unions and the financial industry as a whole. 

As the largest event of the year for Alabama & Florida credit unions, this annual event attracts more attendees from across both states than any other event. And now, more than ever, is the time to invest in the professional development for you and your staff.

Here are the top 5 reasons why you don’t want to miss this year’s conference:

1. Learn at The Speed of Light: Over 15 relevant breakout sessions and pre-conference workshops for attending members. Industry expert speakers will provide you with the tools and knowledge to bring back to your credit union. Topics include:

  • NCUA’s Financial Literacy Requirement
  • The Future of Your Online Community
  • Don’t Let the Recession Get you Down, Fight Back!
  • And much more...

2. One of America’s most respected political commentators, Joe Scarborough, is best known for his unparalleled analysis of today’s political and policy headlines. Scarborough will evaluate how the Obama Administration is working with a divided Congress and what it all means for the 2012 elections.

3. New This Year! Meet one-on-one with an exhibitor of your choice on Friday, June 17 from 10 a.m. – 3 p.m., to review a contract, look at a new product, or preview a demo.

4. The LSCU Information Labs will provide the most up-to-date news on what the League is doing to help advocate on the behalf of credit unions, an inside look at the image campaign, and the new Southeastern Credit Union Foundation (SECUF)!

5. Award-winning acapella group, Vox Audio will be creating a unique performance specific to our 2011 theme, Defining Our Future that will fly you through the musical cosmos!

Attending this year’s AC&E is guaranteed to arm you with the necessary tools for the unknown future that is to come. So be sure to remember this cosmic destination. We look forward to seeing you at this year’s 2nd AC&E.

Click here to visit the LSCU AC&E page and register today. We hope to see you in Orlando! [ Return to Top ]

LSCU AC&E offers great value on educational topics

The LSCU Annual Convention and Exposition (AC&E), June 16-19 in Orlando, will help credit unions define their future through a number of great educational topics. Credit unions have more than 15 education breakout sessions to choose from.

The AC&E breakout sessions are highlighted by a Regulatory Roundtable on Friday June 17. The NCUA, ACUA and OFR will be in attendance. This gives credit unions a rare opportunity to interact with their federal and state regulator and ask questions. The Small Asset Sized Roundtable is one of the most popular events at the AC&E. The SAS credit unions, those under $35 million in assets, get together in this breakout session to talk best practices, operational solutions and growth strategies.

For those credit union directors still in need of financial literacy training to fall into NCUA compliance, the LSCU's VP, Regulatory Affairs Bill Berg will host a Financial Literacy session on Saturday that will fullfil directors requirements. The education sessions are facilitated by well known speakers such as CUNA Economist Mike Schenk, Filene's Matt Davis and Tim Harrington, along with LSCU staff. Below is a list of the education topics by day. Click the day for a full description of the topics:

Friday's Sessions:

  • Best practices in shared branching
  • Economic outlook
  • Social media on any budget
  • Increase revenue in this economy
  • Value of member service
  • Regulatory roundtable
  • Restoring non-interest income
  • Trends in financial services innovations
  • Marketing and media opportunities
  • CU Fiduciary Responsibilities

Saturday's Sessions:

  • Director financial literacy training
  • Concentration risks and assessments
  • Effective asset/liability management
  • Future of online community
  • SAS roundtable
  • Contract lifecycle management

For credit unions to take education sessions, webinars or audio conferences on these topics separately would run well over $3,000. The LSCU AC&E is a great value for credit unions looking to become more educated on timely topics.

To register and view more detail about the education sessions, visit the LSCU Convention website. For questions, contact LSCU Association Services Support Specialist Becki Payne at 866.231.0545 ext. 2129.


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Now taking items for the LSCU AC&E Silent Auction benefitting CMN and PAC

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.

Click here to view the Silent Auction Flyer.

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 ]

Governmental Affairs News
This week in Alabama politics: Re-drawing Congressional and School Board Districts top the list

The Alabama Legislature is in the middle of a two-week break and will return into session on Tuesday, May 24 for the 24th legislative day.  For the past week the Joint Committee on Reapportionment has been conducting public meetings throughout the state in order to receive public input on the re-drawing of Alabama’s Congressional and School Board Districts. This week, the committee will hold hearings in Montgomery to finalize the redistricting plans and have them ready for when the legislature reconvenes on Tuesday.  Since Alabama is not gaining any Congressional seats, most of the issues and arguments arising from these hearings deal with who is left in or out of the current districts as they exist today.  Shoals and Montgomery are the two areas where this is occurring.

Currently Florence, Muscle Shoals, Sheffield, and Tuscumbia all reside in the 5th Congressional District represented by Congressman Mo Brooks (AL -5) while the city of Decatur and Morgan County is split between the 5th and 4th districts, represented by Robert Aderholt (AL- 4).  Decatur and Morgan County are making a strong push to be linked to Huntsville and totally included in the 4th district.  The problem here would then be the splitting of the Shoals area into the 4th and 5th and they want to stay together as one group represented by one congressman.  In the hearing held in Huntsville, both groups presented their arguments and at this point no firm decision has been made as to where these municipalities will end up.

The city of Montgomery’s redistricting situation actually arises from population shift in Birmingham.  Congresswoman Terri Sewell’s (AL -7) 7th Congressional District has lost up to 80,000 residents over the last 10 years.  Most of the loss has been to Alabama’s 6th district, represented by Congressman Spencer Bacchus (AL-6).  Since the 7th district is the only district in Alabama where the minority is the majority, it must be kept this way and the only area to draw from seems to be parts of Lowndes and Montgomery counties including west Montgomery.  The city of Montgomery is already split between two congressional districts and adding a third is not necessarily something the local leadership would like to do. Again, any prediction on the outcome would be premature, but this move would be made out of necessity rather than preferences of municipalities.

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 ]

News from the Hill: Budget still most important topic, interchange legislation update

The Senate floor time will be used to consider various nominations as well as legislation eliminating tax subsidies for oil and gas companies. It is possible that the Senate will begin the budget process this week, but budget votes will not likely take place this week. The other major bill expected to be considered before the Senate recesses for Memorial Day on May 27 is the reauthorization of the USA Patriot Act. The House returns next Monday and will be in session until June 3.

Committee Hearings

With the House out of session, committee meetings with relevance to credit unions are relatively sparse. The Senate Banking Committee will hold hearings on the Export-Import Bank, the State of the Securitization Market, and Public Transportation. On Thursday, the Senate Small Business Committee will hold a hearing on the implementation of the Small Business Jobs Act of 2010. Also on Thursday, the Senate Commerce Committee will hold a hearing on consumer privacy and protection in the mobile marketplace.

Interchange Legislation Update

The League continues to work closely with its champions in the Senate to identify the appropriate time and vehicle for a vote on the Sen. Tester interchange amendment. As more information becomes available regarding timing of consideration, the LSCU will let you know. The League is bringing the Michael’s data breach into the discussions with Congressional staff on interchange. A copy of the letter sent to all Congressional offices by CUNA CEO Bill Cheney can be found by clicking here.

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 ]

This week in Florida politics: FL leads nation in mortgage fraud, high-speed rail money sent away

Florida Politics Week in Review:

The governor in Florida has line item veto power over the budget, as well as the power to veto any other piece of legislation passed by the legislature. Of course, with a controlling two-thirds majority in both chambers, the legislature has the ability to overturn any gubernatorial veto they see fit. It will certainly be interesting to see how this plays out.

Florida Leads the Nation in Mortgage Fraud

According to a study conducted by the LexisNexis Mortgage Asset Research Institute, in 2010 Florida had 3.6 times as much mortgage fraud expected for the number of loans made in the state, while 27 percent of all investigated fraud in the country occurred in Florida. This marks the fifth consecutive year Florida has been deemed the state with the most fraud, according to the study. The same report, however, shows that nationally the amount of reported mortgage fraud cases declined by 41 percent in 2010, the first decline in five years. But authors of the report suggest it stems from less new loans being made, not that there is less fraud.

Florida’s High-Speed Rail Money Sent to Other States

U.S. Transportation Sec. Ray LaHood announced this week that he was redirecting $2 billion out of the $2.4 billion previously awarded to Florida for a high-speed rail, stating that 15 states and Amtrak would each get a share of $2.02 billion for various projects, including $800 million for various improvements in the highly traveled Northeast Corridor. Some of the money was awarded to Southern states including North Carolina and Texas. Texas will get $15 million to begin development of a potential high-speed rail line linking Houston with the Dallas-Fort Worth area. Sen. Thad Altman (R-Viera) asserted that LaHood's announcement proves Gov. Scott was being less than honest when he put out a press release earlier this year contending that Florida's high-speed rail money was being used to help reduce spending. Back in April, Gov. Scott suggested the $1.5 billion cut as part of a federal deficit-reduction package came from the money originally awarded to Florida. Altman was one of two senators who tried to get the Florida Supreme Court to block the governor's rejection of high-speed rail money. The court eventually sided with Gov. Scott, but later the attorney representing the governor acknowledged that he misstated some of the financial information when he appeared before the high court.

Haridopolis Hits Campaign Trail

Senate President Mike Haridopolos will be touring the state this coming week as part of his campaign for the U.S. Senate. Sen. Haridopolos has stops planned for Miami, Tampa, Altamonte Springs, Naples, Plant City, and Sweetwater. He is scheduled to hold a roundtable Monday morning with employees of Browning’s Pharmacy and Healthcare Inc. (141 Hibiscus Ave in Melbourne) before meeting with the Latin Builders Association in Coral Gables at 6 p.m. on Monday. Sen. Haridopolos is also scheduled to speak at a Manatee County Tea Party event scheduled at 6 p.m. on Tuesday at the Mixon Fruit Farms Pavilion (2712 26th Avenue East) in Bradenton.

Should you have any questions on any of the legislative issues mentioned above please contact LSCU Director, Legislative Affairs Jared Ross at 866.231.0545 ext.1012. [ 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: Addition of Small Business Health Care Tax Credit, FREE NCUA webinar

The current edition of the League InfoSight newsletter has an article about the Small Business Health Care Tax Credit being added to the Tax Channel. The small business health care tax credit was included in the Affordable Care Act. The credit is designed to encourage small employers to offer health insurance coverage for the first time or maintain coverage they already have.

Eligible credit unions may calculate the small business health care tax credit when they file income tax returns. The IRS forms and instructions indicating how eligible tax-exempt organizations, such as credit unions (which do not generally file income tax returns) will claim the credit.

Read more by visiting League InfoSight.

The newsletter also has an article about  a webinar the National Credit Union Administration (NCUA) will be hosting Thursday, May 26, entitled “Current Allowance for Loan and Lease Losses Exam Issues and Practical Ways to Factor Q&E Adjustments into the Methodology.”

The webinar will begin at 2 p.m. EST and end at 4 p.m. Sponsored by NCUA’s Office of Examination and Insurance and the Office of the Chief Economist, the webinar is free and open to the public. Individuals may register for the webinar at http://tinyurl.com/ALLLWebinar.

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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League InfoSight gaining more readers every month

League InfoSight tracks the readership across the country every month. The largest increases among states continues to include Alabama and Florida credit unions. Year to date through April saw increases from 2009 of 53 percent for the LSCU’s credit unions. Nationally, the increase was also a very strong at 43 percent during the same time period. In hard numbers, the volume of users for League InfoSight was 34,000 in April with nearly 1,000 coming from Alabama and Florida. 

League InfoSight also includes model policies online. These policies give credit unions a start on implementing or researching many regulatory topics. Credit unions in Alabama and Florida are increasingly using the model policy section more and more.

All affiliated credit unions have “free” access to League InfoSight. A website login ID and password are required. If you don't have one, you can request one at the login page. Join the rest of your peers in obtaining 24/7 compliance assistance from the LSCU and League InfoSight.

For League InfoSight questions, contact LSCU VP, Regulatory Affairs Bill Berg at 866.231.0545 ext.1028 or Director, Compliance Scott Morris at ext. 2165. [ Return to Top ]

Quarterly Compliance Call on Legal Issues in Collections

This Compliance Call's guest speaker is Chad D. Heckman who is a lawyer with the statewide law firm Thrasher & Heckman, P.A. based in Tallahassee, FL. In this position, Mr. Heckman regularly speaks and writes on topics relating to creditor rights, bankruptcy, foreclosure law and related litigation. He represents primarily corporate and credit union clients and devotes his practice to creditors' rights, bankruptcy law, commercial litigation, real property litigation and the defense of consumer protection lawsuits filed against his credit union and corporate clients.

Mr. Heckman will be discussing:

  • Collection Strategies to Avoid Pitfalls & Get Better Results

These audio calls are going to operate similarly to the first one:

  • They will still be free and will run for one hour.
  • However, you will need to send an email to LSCU Association Support Specialist Tracy Shimansky indicating your intention to participate. This email should include the names of participants, their emails, and your credit union.  After we get your request, we will email you call in instructions.
  • Handouts will be posted on our website a few days before the June 2.
  • The audio calls will be recorded for future use in case you cannot participate or wish to play them back for yourself or other staff in the future.

We are sending this to all Presidents, CEOs, and Managers as well as to our list of compliance contacts. If you are a President/CEO or Manager and would prefer for someone else to receive compliance communications, please let us know their name and email address and we will make the necessary corrections.

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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
International CU Day celebrates financial co-ops' global impact

This year's International Credit Union Day theme, "Credit Unions Build a Better World," celebrates the important economic and social contributions credit unions make to their communities worldwide. It also aligns cooperatively owned and controlled credit unions with the greater cooperative business sector and the United Nations as they launch the International Year of Cooperatives 2012, which begins Oct. 31, when cooperatives worldwide will unite in celebration with the theme "Cooperative Enterprises Build a Better World."

"We need more people to recognize that credit unions as member-owned cooperatives are the best option for financial services," said President/CEO, Credit Union National Association (CUNA) Bill Cheney. "With the designation of 2012 as the International Year of Cooperatives, we have a unique opportunity to raise awareness. And tying in this year's ICU Day theme with the larger International Year of Co-ops event will create synergy to further help consumers, policymakers and those in the media better understand that the cooperative model is a proven means of improving people's lives and building a better world."

Cooperative businesses in the U.S. have celebrated Co-op Month since 1930. Throughout the month, the U.S. National Cooperative Business Association (NCBA) works across cooperative sectors to promote the cooperative business model. NCBA continually strives to make cooperatives a key component of U.S. economic development policy by proposing legislative and regulatory changes that enable the sector's growth. [ Return to Top ]

Education News
Make attending a LSCU Council meeting a priority today

The next LSCU Council meetings, June 16, are scheduled in conjunction with the LSCU Annual Convention & Exposition in Orlando. Below are the speakers and topics for the workshops. Don’t miss this great opportunity for you and your executive management teams to network, learn, and share best practices.

CFO: Innovation for Credit Unions: Part of an On-Going Planning Process

Tim Harrington, CPA

HR/Training & Development:

Managing Benefit Costs in Today’s World and how to Transition to High Deductable Health Plans with the use of Health Savings Accounts

Todd Torgersen, president, Combined Insurance Services, Inc.

Lending: Maximizing Relationships

Julie R. Ferguson, owner, JRF Consulting Services, LLC

Marketing & Business Development: Charting the Course through Demographic Change

Kenneth Gronbach, president, KGC Direct, LLC

Operations, Sales, & Service: Strategies for Overcoming Lost Income from Regulatory Reform

Robert Rutowski, managing partner, Credit Union, Corporate & Financial Services Groups of Weltman, Weinberg & Reis Co., L.P.A. 

Technology Council: Cloud for Credit Unions

Tom Mackinson, regional manager, Ongoing Operations LLC

For an overview of topics, registration information, and more, visit the LSCU Events Calendar. For questions, contact Lisa Hammock at 866.231.0545 x1146.

“Like” LSCU Councils on Facebook for updated information and topic details.

Special thanks to our sponsors:

   

 

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Education Calendar

Upcoming Events:

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

Tuesday, May 10
Step-by-Step Loan Review: What You Need to Know 
3 pm – 4:30 pm EST – webinar

Tuesday, May 10
BSA Training Workshop
10 am – 12:30 pm EST (Morning), and 2 pm - 4:30 pm EST (Afternoon) – LSCU Ground Flr. Conference Rm. (Alabama)  

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

LEVERAGE News
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 ]

Your in for a treat from Office Depot and Jelly Belly!

Discover your favorite flavor when you spend $175 or more at Office Depot this month.

This is a great way to power through your day while ensuring your cleaning, supply, and break room closets are filled. View the flyer for more details and the coupon code.

For more information, contact LEVERAGE Product Support Manager Deirdre Rhodes at 866.231.0545. [ Return to Top ]

News from You
Redstone FCU feeds area tornado survivors and recovery volunteers

The smell of cooked barbeque will fill the air across the Huntsville area this Saturday as Redstone Federal Credit Union employees and several community partners roll up their sleeves to feed more than 1,000 survivors and volunteers working across the area helping the recovery efforts following the April 27 tornadoes.

“Redstone Federal Credit Union has a team of volunteers who participate in the annual Whistle Stop Festival and Rocket City BBQ event here in Huntsville,” said Redstone Senior AVP Operations Support, Jeff Cooper. “While this annual event is being held this weekend, we have decided to put our cooking talents to better use this year and feed the wonderful people who are here helping in the recovery efforts.  They need a pat on the back for what they are doing. This effort is not limited to the volunteers. We are also planning to feed survivors of these devastating tornadoes as well. It is truly a community-wide helping effort.”

“As of today, we are partnering with the Salvation Army, the Tanner community, Good Shepherd United Methodist Church, the Harvest Youth Center, First Baptist Volunteer Center, and the American Red Cross Headquarters,” Cooper said. “Our two cooking teams, the Redstone Rump Roasters and the Fire in the Hole will begin cooking early Friday. On Saturday, we will have volunteers who will pull pork, make and wrap sandwiches, place them in paper bags along with chips and a drink, box and deliver them. Another group of volunteers will then deliver the boxed lunches to the organizations mentioned.” [ Return to Top ]

Pen Air FCU gives back to members through Premier

Launched May 2, Premier Relationship Rewards is a point-based reward system that allows Pen Air FCU members to accumulate points for different credit union products and services they use, and then redeem them through CURewards for travel, merchandise and more.

“Pen Air is pleased to be in a position where we can give back to our members for their loyalty,” said Pen Air FCU President/CEO Ron Fields. “While other financial institutions are cutting back on their services and programs, or charging fees, Pen Air not only continues with free checking and other services, but we’ve added a way for members to receive even greater benefits through Premier Relationship Rewards.” [ 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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