LSCU eSignal Weekly
LSCU eNews Weekly June 28, 2011
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LSCU eNews Weekly
In This Issue
LSCU Headlines
President's Point
Fed final interchange rule may be coming Wednesday
NCUA board to consider prepayment plan on Wednesday
Statewide Image Campaign fundraising wrapping up
LSCU AC&E Silent Auction raises more than $11,000
SECUF approves additional $5,000 'Rebuilding Alabama' chapter match
NCUA introduces new electronic notification systems to improve communication channels
New LSCU board members take their seat
LSCU Governmental Affairs welcomes new team member
CUSC adds Monte Hill to the board
Longtime Listerhill CU board chairman passes away
Governmental Affairs News
News from the Hill: Senate considers judicial nominations, CUNA involved in Senate hearings
This week in Florida politics: Governor's Office shakeup, OFR bill signed into law
Compliance Corner
League InfoSight highlight: permissible and impermissible investments
Fed's Proposal on "Ability-to-Repay Mortgage Lending Rules" comments due July 22
Compliance calendar and training
Cooperative Initiatives News
June 30 deadline for NCUF Financial Education Grant applications
Cheaha Chapter of CUs re-schedule charity golf tournament
Education News
Disaster Recovery Conference only two weeks away
LSCU Supervisory Committee Conference coming soon
Make plans to attend the next SE Regional Directors Conference
Education Calendar
LEVERAGE News
LSCU AC&E prompts early start for generating 2012 non-interest income
CMG funds Filene Research Institute Consumer Loan Growth Study
News from You
Insight CU participates in Relay for Life
Alabama Telco CU rewards kids for saving
EMPLOYMENT
View available credit union jobs
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LSCU Headlines

President's Point

Last week Credit Union Magazine ran a story about how CUNA is working on a strategic vision for the future of the credit union movement. CUNA Chairman Harriett May stated in the article that the vision “…will draw on the best and the brightest minds throughout our movement. It will be more than a vision statement—it will set the direction from which specific strategies and actions will flow. At stake is our ability to define ourselves, rather than have others define us.”

Harriet’s last statement is one that we all need to think about. The banking lobby and some lawmakers are trying to define credit unions as too “bank like” and that we have somehow outgrown our tax exemption. Additionally, we are at a crossroad in the aftermath of the Wall Street meltdown riddled with over-regulation post Dodd-Frank. Do we stand up and speak for ourselves or have someone else speak for us? I’ve been urging CUNA and AACUL to think along these terms. Our collaborative and cooperative spirit sets us apart from others within the financial services industry. One loud chorus is much more effective than a thousand tiny voices.

For those that attended the LSCU’s Annual Convention and Exposition (AC&E) earlier this month, you heard me talk about the importance of “Defining our Future Through Collaboration.”  It’s not just a convention speech but a path that we need to follow if we want to continue to grow and prosper in this century as we did in the last.

The LSCU Statewide Image Campaign is but one example of Alabama and Florida credit union collaboration where we can make a collective difference. We are just about to wrap up our fundraising for this year’s campaign. But, the more money credit unions pitch into the campaign, the more effective it will be. We are setting a solid foundation for a sustainable campaign that will only be as good as the number of credit unions taking part. If you haven’t seen the TV ad we debuted at the AC&E, visit the LSCU Video Center.

I’m excited to see CUNA’s leadership is beginning this important process to draft a strategic vision for our industry. It is long overdue and the future of our movement depends on longer term thinking not just year-to-year. The League is working more closely with our credit unions and other leagues across the country. LEVERAGE has signed marketing agreements with two other league service corporations with more expected still this year.

Harriet summed up the Credit Union Magazine article by saying, “Any new strategic vision and plan for the future will be firmly rooted in those attributes that have made our movement great these past 100 years—our cooperative principles, our not-for-profit structure and our 'people helping people' philosophy. These are undeniable, and the foundation of our success.” We must never get away from what truly makes us unique and a better alternative than other financial institutions. I encourage all of you to look for ways to work closer together for the greater good of our movement.

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Fed final interchange rule may be coming Wednesday

The Federal Reserve Board is expected to consider a final rule to implement a statutory cap on debit card interchange fees at an open meeting on Wednesday.

This is a highly anticipated meeting since the U.S. Senate earlier this month voted against imposing a delay on the fee cap rule. The Dodd-Frank bill states that the Fed must set a cap that is "reasonable and proportionate" and that exempts issuers with less than $10 billion in assets.

Earlier this year, the Fed proposed a cap of 12 cents per transaction. The fact that the Fed's plan has not factored in fraud costs has been a major concern for credit unions. The Dodd-Frank set a July 21 implementation date for the interchange rule.

In a letter to the Fed, CUNA President/CEO Bill Cheney suggested:

  • Establish a monitoring process under which the card networks would first report to the Fed board that a two-tiered structure has been established and then report annually on how such a two-tiered system is working, and also provide that information to Congress
  • Include all allowable and reasonable costs in setting the cap on interchange fees
  • Revise the proposal regarding routing and exclusivity provisions to consider either exempting small issuers or delay the provisions for up to 24 months for small issuers

As soon as the Fed releases its new direction on the interchange fees issue, check the LSCU website and your email for communications from the League.  [ Return to Top ]

NCUA board to consider prepayment plan on Wednesday
The NCUA will hold a special open meeting on Wednesday, June 29, to consider its plan to allow credit unions, on a voluntary basis, to prepay their Corporate Stabilization Fund assessment.

In May, the NCUA proposed the prepayment plan with a public comment period  that just ended June 20. CUNA is anticipating that, if the plan is approved, the NCUA will likely give credit unions about 40 days to tell the agency whether they will commit any funds to the plan.

CUNA did make recommendations to improve the complex prepayment plan, but has said overall it could help reduce credit unions' assessment for 2011 substantially, depending on credit unions' participation, and it would help even out assessments for subsequent years. [ Return to Top ]

Statewide Image Campaign fundraising wrapping up

The LSCU Statewide Image Campaign, which will debut this fall, is wrapping up fundraising. In order to get media placed in the markets across Alabama and Florida, fundraising has to end in early July. However, if a credit union would like to still be a part of the campaign and the landing website, they can contact LSCU VP, Communications and Marketing Mike Bridges at 866.231.0545 ext. 1022 or Director, Information Services Amy Jowers at ext 1020. 

The Statewide Image Campaign will utilize a TV ad, radio, website, web banners, social media, and PR. All money raised in specific chapters will stay in that chapter's media market. Which pieces each media market will use depends on how much money is raised in that particular market. The hope is to have a rich, six-week campaign, at the least, in each media market. Some media markets that raise more money will have a longer campaign. Plus, for credit unions taking part in the campaign, the landing website will highlight their location when a consumer searches for a credit union by city or zip code. This is a value of participation.  

To see the TV ad, visit the LSCU Video Center. For more information on the campaign, visit the LSCU Statewide Image Campaign website. [ Return to Top ]

LSCU AC&E Silent Auction raises more than $11,000

One of the most anticipated parts of the LSCU Annual Convention and Exposition (AC&E) is the silent auction. Credit unions come together to donate auction items to help raise money for the PAC and the Children's Miracle Network (CMN). This year the auction raised $11,600. Through the charity match, LEVERAGE will donate nearly $10,000 to CMN.

The silent auction featured 11 tables of items including a golf weekend for the Children's Miracle Network PGA event in Lake Buena Vista, FL, jewelry, electronics, and vintage wine. The LSCU would like to thank all of the credit unions that donated to the auction as well as those that took part in it during the AC&E. [ Return to Top ]

SECUF approves additional $5,000 'Rebuilding Alabama' chapter match

The chapter match to Tuscaloosa Chapter of Credit Unions comes in the wake of the catastrophic tornado damage in Tuscaloosa, Alabama, on April 27, 2011.

“Volunteerism and support for our community has been immensely impressive the weeks following the storms, however the level of volunteer help and donations is sure to subside long before our city is whole again,” said Steve Swofford, president/CEO of Alabama Credit Union. “This project was created to help sustain long-term volunteer efforts for a city that will need it for many, many months to come.”

Local businesses, volunteers, and other community leaders can post a date on the Forget Us Not Tuscaloosa Facebook page to select their service date between June 1, 2011, and June 1, 2012, designating whether they would like to volunteer, donate, or both, to help rebuild their treasured city. Calendars may also be purchased at any Alabama Credit Union branch location or by visiting their website. The cost is $5 and Alabama Credit Union will match the calendar sales up to $50,000. [ Return to Top ]

NCUA introduces new electronic notification systems to improve communication channels

“The expansion of access to NCUA Express and the creation of NCUA Dispatch will greatly improve NCUA communications,” said NCUA Board Chairman Debbie Matz. “The use of electronic technology reduces unnecessary expenditures and moves us toward greener operations. I encourage all stakeholders to sign up electronically for customized updates from NCUA about the issues that matter to them.”

NCUA Express is a voluntary electronic notification system that allows subscribers to receive email or RSS feed announcements any time something gets posted to the NCUA website. NCUA Express subscribers can now customize and manage their announcement list to receive specific types of notifications. With the changes announced today, anyone interested in credit union issues may register to receive updates about NCUA’s activities.

Individuals wanting to sign up for electronic updates via NCUA Express can click here. Existing NCUA Express users will automatically be ported over within the next few weeks to the new platform, so no further action is required from current subscribers.

NCUA Dispatch, a new email notification service, will electronically blast notices to credit unions’ and state regulators’ official email accounts. NCUA Dispatch will eventually replace most paper mailings, improving NCUA’s ability to communicate quickly and easily in a cost effective and green manner. NCUA Dispatch will be used for both routine and emergency notifications to the credit union industry. There is no need to sign up for the NCUA Dispatch service, as it will go to the intended audience as necessary. Credit unions should update the Information System and Technology section of their credit union profile with NCUA to ensure their organizational email is properly listed. [ Return to Top ]

New LSCU board members take their seat

The new LSCU board was seated following the League's Annual Business meeting at the Annual Convention and Exposition (AC&E) earlier this month. Joining the board is Anice Prosser, SVP of Human Resources at Tallahassee based Envision Credit Union, and Sharon Downing, manager of Alabama River Credit Union in Perdue Hill.

This is Prosser's second stint on the League board. She was a director on the Florida Credit Union League board for three years. For the past 10 years, Prosser has worked at Envision Credit Union. Prosser's Class C seat is for credit unions with between 15,000 and 40,000 members in Florida.

Downing ran unopposed in the Alabama Class A category. This is for credit unions with fewer than 2,000 members. Downing has been manager at Alabama River CU for 17 years. She was active on the CU Vote board, the Alabama Credit Union League Governmental Affairs Committee and the LSCU Governmental Affairs Committee.

Incumbent board members Steve Swofford, CEO of Alabama CU based in Tuscaloosa, and Pat Mason, CEO of Sun Credit Union based in Hollywood, Florida ran unopposed. Anice, Sharon, Pat and Steve will serve four-year terms.   

Also at the AC&E, Larry Scott, CEO of Campus USA CU in Jonesville, FL and Ola Anise, CEO of Azalea City CU, based in Mobile, AL, were recognized for their tenure on the LSCU Board of Directors. (See below)

(L to R) LSCU President/CEO Patrick La Pine, Azalea City CEO Ola Anise and LSCU Chairman Joe McGee present Anise an award for his tenure on the League board.

(L to R) Campus USA CEO Larry Scott, LSCU President/CEO Patrick La Pine and LSCU Chairman Joe McGee present Scott an award for his tenure on the LSCU board. 


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LSCU Governmental Affairs welcomes new team member

The LSCU Governmental Affairs team is pleased to announce the newest member of the team. Andy Gonzalez joins the team as the new grassroots and political action coordinator. Andy previously served as legislative aide to State Representative Matt Gaetz (R-Destin).

Andy brings to the League a wealth of political knowledge and he's looking forward to hitting the ground running. Andy is a two-time graduate of the Florida State University, earning his B.S. in a double major of Political Science and Social Sciences in 2009 and his Masters in Applied American Politics and Policy in 2010.

In the coming months Andy will be meeting with chapters and credit unions bringing his innovative ideas to PAC fundraising along with his enthusiasm for the political process. [ Return to Top ]

CUSC adds Monte Hill to the board

The Credit Union Service Centers (CUSC) of Alabama held its 19th annual meeting, as well as its June board meeting, at the LSCU Annual Convention and Exposition (AC&E) last week in Orlando. Among the business that was discussed and approved was the 2011 strategic plan and marketing plan.

The investors and directors also approved Family Savings CU CEO Monte Hill as the newest director on the board. Below is the CUSC board, including the executive committee. 

  • Patrick LaPine – LSCU, Chairman
  • Linda Cencula – Alabama Telco CU, Vice Chairman
  • Shane Nobbley – Family Security CU, Treasurer
  • Steve Nix – First Educators CU, Secretary
  • Joe McGee – Legacy Community CU
  • Monte Hill – Family Savings CU
  • Ned McHenry – Alabama State Employees CU
  • Heath Harrell – Guardian CU
  • Merrill Mann – APCO CU

The board's next meeting will be Aug. 11 at the LSCU Birmingham office. If you have any questions about CUSC or how to become a shared branch, contact CUSC Director Tameka Dukes at 866.231.0545 ext. 2178. [ Return to Top ]

Longtime Listerhill CU board chairman passes away

In 1952, seven Reynolds Metals employees put their money together to form Listerhill CU in Muscle Shoals, AL. When the board was formed, the first chairman was Cyril "Dink" Mann. He served in that role until 2010 when his health began to deteriorate. Listerhill announced this week that Mann passed away at the age of 95.

Funeral arrangements have not been set. Once they are, the League will post on its website.  [ Return to Top ]

Governmental Affairs News
News from the Hill: Senate considers judicial nominations, CUNA involved in Senate hearings

The Senate is back in session this week, returning tomorrow to consider judicial nominations. Later in the week, the Senate may consider a resolution on the situation in Libya. The Senate is also expected to resume consideration of legislation to reform the executive nomination process, reducing the number of executive branch nominees that must receive Senate confirmation. When the Senate completes its business for the week, it will be out of session until the week of July 13.

The House is not in session this week and will return to Washington on July 5.

Hearings on Tap:

On Tuesday, the Senate Banking Committee will hold a hearing on “Housing Finance Reform:  Access to the Secondary Market for Small Financial Institutions.” Rod Staatz, president/CEO of SECU of Maryland, a member of CUNA’s board of directors, and a member of CUNA’s GSE Reform task force will testify on behalf of CUNA. Other witnesses will include Jack Hartings, president/CEO of The Peoples Bank Company, representing the Independent Community Bankers of America; Edward Pinto, resident fellow at the American Enterprise Institute; Christopher Dunn, executive vice president of the South Shore Savings Bank, representing the American Bankers Association; and Peter Skillern, executive director of the Community Reinvestment Association of North Carolina. A copy of CUNA’s testimony will be available on their website soon after it is transmitted to the Committee. You can access the webcast of the Banking Committee hearing by clicking here.

In addition to the hearing at which CUNA is testifying, the League is following two other hearings this week. On Thursday, the Senate Finance Committee will hold a hearing on “Deficit Reduction: A Review of Key Issues.” Peter Orszag, vice chairman of global banking for Citigroup and former director of the Office of Management and Budget (OMB); Robert Greenstein, president of the Center on Budget and Policy Priorities; James Nussle, president and COO of Growth Energy, and former OMB director; and Chris Edwards, director of tax policy studies at the Cato Institute, are expected to testify. Also on Thursday, the Senate Banking Committee will hold a hearing on the “State of the Federal Deposit Insurance Corporation: Deposit Insurance, Consumer Protection, and Financial Stability” in which FDIC Chairman Sheila Bair will testify.

Finally, to bring to your attention that last week, the House of Representatives passed a patent reform bill that included a provision that CUNA supported related to business-method patents. Several financial companies, including some credit unions, have been sued over alleged patent infringement related to business practices. The legislation establishes a procedure at the Patent and Trademark Office where business method patents can be re-examined as an alternative to litigation. An amendment to remove the language that CUNA and others supported was defeated in the House of Representatives by a vote of 158-262 with one member voting present. The vote on final passage was 304-117. Copies of the letters that CUNA sent to the House of Representatives in support of this legislation can be found on the Letters to Congress page.

For questions about the hearings, or other governmental affairs issues contact LSCU SVP, Governmental Affairs Will McCarty at 800.846.8374, ext. 2137. [ Return to Top ]

This week in Florida politics: Governor's Office shakeup, OFR bill signed into law

Governor’s Office Staff Shakeup

There was quite a shakeup in the Executive Branch this week as Gov. Rick Scott appointed his chief of staff, Mike Prendergast, to the post of executive director of the state’s Veteran Affairs Department. Also resigning from Scott’s staff is his top advisor, Mary Ann Carter. Carter, a political veteran from Tennessee who helped spearhead Scott’s campaign, had taken the job for the short term, always intending to move back to Tennessee to be with her family. All of this shakeup has created a domino effect. Taking Prendergast’s place will be Sen. President Mike Haridopolos’ chief of staff, Steve McNamara. This leaves a void in the President’s office, which will be filled by Craig Meyer. Expect more shakeups in the coming weeks.

OFR Bill Signed into Law

On June 21, 2011, Gov. Rick Scott officially signed HB 1121 by Rep. Clay Ingram (R-Pensacola) into law. The bill was proffered by the Office of Financial Regulation, in order to codify state law with federal law in response to the Dodd-Frank Wall Street Reform and Consumer Protection Act. The bill, as originally drafted, would have been extremely burdensome to financial institutions, particularly credit unions, and the League worked vigorously with OFR to ensure that the final version of the bill would treat our institutions fairly. The final version of the bill was much more palatable for credit unions and truly did work to codify state and federal law. The League will continue to work with OFR to ensure that any future regulations treat credit unions fairly.

LSCU GA now on Twitter

The LSCU’s Florida Governmental Affairs team is now on Twitter. You can follow them @LSCUGovAffFL. Social media will be used to keep credit unions updated on the happenings in Florida politics that affect credit unions, particularly during the legislative committee weeks and session.

Should you have any questions on any of the legislative issues mentioned above, contact Director, Legislative Affairs Jared Ross at 866.231.0545, ext.1012. [ Return to Top ]

Compliance Corner
League InfoSight highlight: permissible and impermissible investments

The current edition of the League InfoSight newsletter has an article about credit unions reviewing what types of investments are permissible and impermissible. With the release of a recent legal opinion letter in which the NCUA stated that a federal credit union “may purchase or invest in an insurance agency as a CUSO...,” credit unions should be reviewing investments now. 

Parts 703.13, 703.14, 703.15, 703.16, 703.17, and 703.18 of the NCUA Rules and Regulations contain specific permissible and impermissible investments and investment activities for federal credit unions. However, Part 741.3 of the NCUA Rules and Regulations (Insurance Criteria) requires special investment reserves for state chartered, federally insured credit unions with non-conforming investments. 

Read more about the permissible and impermissible investments and other important topics at 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 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.

  [ Return to Top ]

Fed's Proposal on "Ability-to-Repay Mortgage Lending Rules" comments due July 22

The Federal Reserve Board (Fed) has proposed rules to implement minimum mortgage underwriting standards required by the Dodd-Frank Act. Congress intended this part of the Act to require, among other things, at least some minimal underwriting of mortgage loans, in response to evidence that many mortgage lenders engaged in unsafe and unsound underwriting practices before the financial crisis. The Fed‘s jurisdiction over Regulation Z/Truth in Lending transfers to the Consumer Financial Protection Bureau (CFPB) on July 21, 2011, so the CFPB will be the agency finalizing the rule.

A summary of the Fed's Proposal can be read by clicking here. [ Return to Top ]

Compliance calendar and training

Compliance Calendar

July 21
Regulations Z and M - Increase to transactions covering up to $50k Effective Date

Bureau of Consumer Financial Protection Designated Transfer Date

Potential Regulation CC: Change from $100 to $200 immediate availability

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

*Note - Compliance Calendar requires your League InfoSight login.
[ Return to Top ]

Cooperative Initiatives News
June 30 deadline for NCUF Financial Education Grant applications

NCUF’s annual grant program was formerly known as “Innovation Grants,” but has been updated this year to realign with the Foundation’s new focus on financial education.

“Whether it’s a financial reality fair for high school students or a financial counseling program we encourage you to apply,” said Lois Kitsch, national program director at NCUF. “We are looking to fund innovative programs that improve the financial capability of all Americans.”

The application can be found by clicking here.
[ Return to Top ]

Cheaha Chapter of CUs re-schedule charity golf tournament

The Cheaha Chapter of Credit Unions has re-scheduled their golf tournament for Monday, July 25, at Gadsden Country Club in Gadsden, AL. The tournament will have a shotgun start at 8:30 a.m. CDT. Proceeds will benefit Children’s Miracle Network Hospitals. The Chapter has received approval for the CO-OP Miracle Match Program, so proceeds will be matched up to $10,000.

Credit unions and vendors are invited to participate. Sponsorship levels are $1,000 for four golfers and hole sponsorship, $500 for two golfers and hole sponsorship, $300 for one golfer and hole sponsorship, and $100 for one golfer.

For more information or to register, contact Lesli Bishop at Family Savings FCU, 888.311.3728, extension 5773. [ Return to Top ]

Education News
Disaster Recovery Conference only two weeks away

Everyone in Alabama and Florida has been affected by “Mother Nature” in one way or another whether it has been directly or indirectly. The safety of the physical building is important however it is the protection of what is housed internally that must be solid. Is your system backed up? Also, a plan of action for staff must be in place. Are you ready?

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.

Click here to view/download the conference flyer.

Attendees from last year’s conference said they “were able to identify items missing from my business continuity plan” and the conference “urged me to revisit my disaster contingency plan.”

Speakers for this conference will include:

  • Jeff Garmon, warning coordination meteorologist, NOAA – NWS Weather Forecast Office, Mobile, AL
  • John S. Dosh, Escambia Emergency Management, Pensacola, FL
  • Bill Berg, LSCU VP, Regulatory Affairs
  • Amber Tynan, LSCU Executive Director, Southeastern Credit Union Foundation
  • Representatives from NCUA and CUNA Mutual

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

Click here to register now.

Thanks to our sponsor:

 

  [ Return to Top ]

LSCU Supervisory Committee Conference coming soon

Whether you are a new supervisory committee or board member, or you are a seasoned volunteer, attendance at this event will most definitely enrich your contributions to your credit union. This conference agenda includes the latest information and updates regarding credit union auditing, compliance, and fraud. With a wide variety of speakers and topics, attendees will better their knowledge to help keep your credit union secure and strong. 

Although designed with supervisory committee members and board members in mind, this conference is also a perfect fit for credit union managers and compliance officers.  If you are a CPA, Continuing Education Credits are also applicable.

LSCU Supervisory Committee Conference
Date: July 31 – August 3, 2011
Location:
Grand Hotel Marriott Resort, Golf Club & Spa, Point Clear, AL
Registration: $475/person and $150/guest
Questions:
education@lscu.coop or 866.231.0545 x 2129

Click here for more information and to register.

Sponsored by:

 

  [ Return to Top ]

Make plans to attend the next SE Regional Directors Conference

Be sure to reserve a spot at this year's Southeast Regional Directors Conference, along with many other credit union leadership and executive staff. This event is sure to be informative and entertaining. The speakers and topics include:

  • Bill Cheney, "Credit Unions: Where we have been and where we are going"
  • Kelley Parks, "It's Time for Credit Unions To Make History"
  • David Snider, "A Rendezvous with Austerity: How Financial Necessity is Leading Americans to Adopt Economically and Environmentally Sustainable Life Style - An Instant Pre-Play of the Next 10 Years in America"
  • Ron Parker, "Making Dollars and Sense of Credit Union Financial Information"
  • Shawn McDonald, "Protect Your Credit Union's bottom Line - You Must Start and End with Outstanding Service!"
  • Ken Gronbach, "The Age Curve: Benefiting from the Coming Demographic Storm"

Attendees and guests can also enjoy golf excursions, Country Music Hall of Fame and Museum Tours, and Homes of the Stars tours.

See you on July 17-20, in Nashville, TN.

For more information about the Conference, visit the LSCU Education Calendar. [ Return to Top ]

Education Calendar

Upcoming Events:

Tuesday, June 29
Directors & Credit Risk
3 – 4:30 pm EST – webinar

Wednesday, July 6
High Yield Lending: Methods to Grow Your Loans & Increase Your Loan Yield
3 – 4:30 pm EST – webinar

Tuesday, July 12
Indirect Automobile Lending: The Good, the Bad & the Ugly
3 – 4:30 pm EST – webinar

Click here to view complete calendar of events.

  [ Return to Top ]

LEVERAGE News
LSCU AC&E prompts early start for generating 2012 non-interest income

Credit unions have seen the value of the Sprint program and in years past have received more than $442,000 in additional non-interest income.



L to R: LEVERAGE's Larry Rodriguez (l) and Steve Pullara (c) talk to a credit union staffer about renewing Sprint contract.

Returning credit unions began defining their future at the 2011 LSCU Annual Convention & Exposition by visiting the Sprint kiosk to renew their Sprint 2011 contract.

Credit unions receive free marketing materials, and members receive 10 percent off monthly service charges, 15 percent off business service plans, and 20 percent off accessories! More importantly, a lump sum of non-interest income based on the number of members your credit union has, allows you to do more for your membership.

Sign up by Aug. 31 to be eligible to receive 100 percent off your marketing incentives. For more information, contact a Business Development Consultant. [ Return to Top ]

CMG funds Filene Research Institute Consumer Loan Growth Study

CUNA Mutual Group is funding a Filene Research Institute study on consumer loan growth strategies and best practices to help credit unions make the most of every lending opportunity.

“The study shows the innovation under way today in credit union lending programs and provides real, practical applications for our marketplace,” said Mark Meyer, CEO of the Filene Research Institute.

For the study, Filene conducted interviews with credit unions that consistently showed more than five percent annual growth in their consumer lending programs (auto and credit card) between 2008 and 2010 and had more than $50 million in assets.

“Only 24 credit unions out of a potential 1,500 showed growth,” said Meyer.

The study identifies commonalities, best practices, and case studies for credit unions to use to help them grow loans.

“Through our own voice of customer research, we know that loan growth is a top priority for credit unions today,” said Dan Kaiser, vice president of lending at CUNA Mutual Group.

The study is scheduled for a late-summer release. [ Return to Top ]

News from You
Insight CU participates in Relay for Life

The Insight Inspire volunteers challenged themselves to raise $6,000 and donate 500 volunteer hours to the event which culminated in an 18-hour walk around Lake Eola, in Downtown Orlando on May 20-21.

The credit union exceeded its goal by raising more than $6,600 and donating more than 900 volunteer hours the weekend of the Relay for Life event.

According to Insight Credit Union’s President/CEO, George R. Davis, “We are pleased with the success of our spring fundraiser and we couldn’t be happier with the support we received from our members and our families and friends. We plan to continue our efforts in supporting the American Cancer Society at Relay For Life for many years to come." [ Return to Top ]

Alabama Telco CU rewards kids for saving

The Kids Savings contest encouraged kids and their parents to sign up for Alabama Telco’s Kids Savings School program. Those who converted or signed up were automatically entered into a drawing to win four tickets to Birmingham’s McWane Science Center.

Alabama Telco’s Kids Savings School is a fun and unique program designed to teach kids, ages 3-12, how to save. To enroll a child in the Kids Savings School, a parent or legal guardian must open a Kids Savings School account with their child and put in at least $5. If a child already has an Alabama Telco savings account, they may request to convert it to the Kids Savings School.

“We feel it’s important to introduce kids to smart spending and saving habits at an early age, which is the goal of our Kids Savings School Program," said Stanton Davis with Alabama Telco. "We want to do everything we can to encourage kids to save, including developing contests like this one." [ 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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