LSCU eSignal Weekly
LSCU eNews Weekly July 11, 2011
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LSCU eNews Weekly
In This Issue
LSCU Headlines
President's Point
Statewide Image Campaign fundraising wrapping up
Florida Rep. Ross signs on to MBL legislation
Member Business Lending featured on Fox, USA Today
Fraudulent letter being faxed to small businesses
LSCU Members Survey coming this week
New shared branching outlets in Alabama, Florida
Inaugural citywide 'Dance4Kids' event set to take place in Tallahassee
Governmental Affairs News
News from the Hill: Congress tackles debt ceiling, both chambers continue work on other legislation
This week in Florida politics: LSCU legislative issues, redistricting continues
This week in Alabama politics: Lawsuits filed against legislation, Rep. Canfield's new role
Project Zip Code can be a useful marketing tool
Compliance Corner
League InfoSight highlight: Americans with Disabilities Act Requirements for ATMs
LSCU, CUNA Regulatory Advocacy Report
Compliance calendar and training
Cooperative Initiatives News
National Youth Involvement Board Annual Conference
NCUF video explains the Community Investment Fund program
Join LSCU in support of CMN Hospitals with Miracle Jeans Day
Education News
Disaster Recovery Conference is Tuesday and Wednesday
Room cut off for special rate is today for LSCU Supervisory Committee Conference; registration open until July 29
Make plans to attend the next SE Regional Directors Conference
Education Calendar
LEVERAGE News
CU Members Mortgage extends education commitment to helping CU's understand industry change
News from You
USA FCU's Betty Gorham announces retirement after more than 30 years of service
CFE FCU selected as Business Partner of the Year for Osceola County School District
EMPLOYMENT
View available credit union jobs
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LSCU Headlines

President's Point

On June 29, the NCUA board adopted its final language on the voluntary prepayment program for the corporate stabilization assessments. This essentially means that if a credit union chooses to participate, it can make advance payments on its future corporate stabilization assessments. Prepaying today would count against assessments in 2013 and 2014. The NCUA only intends to go forward with the program if $500 million is committed to the program.  

The program does have some merits, but CUNA and state leagues do see some potential problems with the program’s language. The Temporary Corporate Credit Union Stabilization Fund was created to allow credit unions to spread the losses of the legacy assets over a number of years, most likely 11. This helps credit unions avoid the full brunt of corporate losses in just a couple of years. This would also help a number of credit unions not have to take severe negative earnings hits or place major capital restraints on them. The assessment will most likely be around 25 basis points (bp) this year and 13 bp next.  If the $500 million is committed by CUs, this year’s assessments will be lowered by about 6.5 bp. CUNA and the leagues had hoped the prepayment program would lower the assessment by 10 to 15 bp this year.

Credit unions are now faced with the task of deciding by July 29 whether this program is right for them. The LSCU, through its comment letter to the NCUA, requested that the NCUA adopt a prepayment plan similar to the one used by the FDIC last year to meet some of the initial liquidity needs of its Fund. This would involve collecting the cash needed in the first two years, but only requiring credit unions to expense a portion of that cash as current assessments, with the remainder instead treated as an asset purchase (prepaid expense) to be used to meet assessment obligations in 2013 and later. Additionally, we had hoped the NCUA would have made the minimum size of the program $1 billion instead of $500 million. This would have lowered this year’s assessments even more.  

The problem with the way the final program was structured is that any credit union that chooses to participate will not see a direct benefit to them individually. This program is based on enough credit unions taking part to meet the $500 million mark. For many, the 6.5 bp reduction won’t be enough of a motivator to justify giving NCUA what amounts to a zero percent interest loan, another feature of the program that we asked the NCUA board to reconsider.  For credit unions, participating in the program really comes down to knowing it’s helping other credit unions that might otherwise be struggling to meet their payment obligations. If you would like more information about the program, check out the LSCU Research and Economic Data page or contact LSCU VP of  Regulatory Affairs Bill Berg or Director of Compliance Scott Morris with any questions you might have.

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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 ]

Florida Rep. Ross signs on to MBL legislation

Member Business Lending (MBL) legislation in the House picked up up another co-sponsor as Rep. Dennis Ross (R-FL) signed on last week. Rep. Ross becomes the fifth Florida representative to co-sponsor H.R. 1418, the Small Business Lending Enhancement Act of 2011. Rep. Ross joins Reps. Gus Bilirakis (R-FL), Jeff Miller (R-FL), Bill Posey (R-FL) and Bill Young (R-FL). 

H.R. 1418 currently stands in committee as it was recently referred to the Subcommittee on Financial Institutions and Consumer Credit.

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Member Business Lending featured on Fox, USA Today

The USA Today and Fox Business channel each ran a story on the credit union Member Business Lending (MBL) issue this past week. In the USA Today article, titled "Credit unions growing commercial lending business,"  an Iowa small business is thriving because a credit union was able to offer it a line of credit where a bank would not. The business owner is quoted as saying he's been doing business personally with a credit union for quite sometime. CUNA also weighs in on how credit unions are trying to fill the gap since many banks are still sluggish in their lending. The article points out that MBL cap legislation is currently in the House and Senate.

The Fox Business channel ran a week long series titled, "The Government is killing my Business,"  and featured Small Business Authority CEO Barry Sloane talking about credit unions. Sloane pointed out that billions of dollars are being kept away from small businesses because of the MBL cap. He also gave a great overview of how credit unions can help lend more.

CUNA recently sent a letter to Senate leaders asking them to consider the legislation to raise the MBL cap. CUNA President/CEO Bill Cheney wrote that Congress is leaving billions on the table that could help put some of the 9.2 percent of unemployed back to work. To read the entire letter to Congress, visit the LSCU MBL and Interchange Resource website. [ Return to Top ]

Fraudulent letter being faxed to small businesses

A fraudulent letter, purportedly from Equifax, is being sent to small businesses in Alabama asking for financial information. The letter states that the business has money from the U.S. Government, but it can't be sent to the business until some financial information is forwarded to Equifax. However, the letter is not actually from Equifax.

The League has not heard from any credit unions that have received the letter or if any small business members have received the letter via fax. Credit unions should be aware that this letter is being sent to small businesses. For a copy of the letter, click here.  [ Return to Top ]

LSCU Members Survey coming this week

The LSCU Member Survey will be emailed to CEO inboxes this week. The survey is short, 25 questions, and designed to take just a few minutes to complete online. The survey asks credit unions to gauge how the LSCU is meeting the needs of its member credit unions. There are open-ended questions on the survey so credit unions can write in comments on each department, as well as offer some of their ideas on things the League could be working toward. 

The League and LEVERAGE take the results of the survey and use them when planning for 2012 and beyond. While the survey is conducted online, if any credit union would like a paper copy of the survey, one can be emailed or mailed to them. For any questions about the LSCU Member Survey, contact LSCU VP, Communications and Marketing Mike Bridges at 866.231.0545 ext. 1022.  [ Return to Top ]

New shared branching outlets in Alabama, Florida

Credit union members in Alabama and Florida have two new shared branching locations to utilize. Shared branching is a unique feature of credit unions allowing members to make transactions from a number of locations nationwide. The Florida Service 1st CU location brings the number up to 223 shared branches across the state. The Listerhill CU location brings Alabama's total number up to 120.

The new locations:

Service 1st CU
8916 Sabal Industrial Blvd
Tampa, FL 33619
Phone: 813-621-9631
Fax: 813-664-0525

Listerhill CU
1 Harrison Plaza
Florence, AL 35632
Phone: 256-765-2339
Fax: 256-383-1353

If your credit union would like to know more about shared branching, contact CUSC Shared Branching Manager Tameka Dukes at 866.231.0545 ext. 2178 or in Florida, contact Nancy Dalton at 904.731.8133. [ Return to Top ]

Inaugural citywide 'Dance4Kids' event set to take place in Tallahassee

The inaugural Dance4Kids event—to be kicked off in Tallahassee— is scheduled for Mar. 31, 2012. The 13.1-hour dance event is designed to bring credit union staff and membership, members of the community, along with community partners together to raise funds for the children in the local community. In partnership with Clear Channel Radio and their in-kind contribution of $52,000, Tallahassee and surrounding area credit unions will have ample opportunity to share “did you know” facts about membership on-air through their five-station rotation while building awareness of the event supporting a great cause through CU4Kids.

Credit unions are encouraged to sponsor a dance team to dance throughout the event as well as raise funds online. Individual dancers from the Tallahassee community whom wish to participate are also encouraged to join in to meet our $100,000 goal. This event will not only allow credit unions to give back in a greater capacity, it will allow credit unions to showcase their efforts locally with “people helping people,” ultimately leading to more members.

“We really wanted to create an event that credit unions could embrace and have ownership in, while being aligned with a cause that is so engrained in our credit union industry,” said Amber R. Tynan, executive director, Southeastern Credit Union Foundation. “This is a ground-floor opportunity as we will be setting the precedent for citywide dance marathons across the country that is sponsored solely by credit unions and CU4Kids. The opportunity to kick it off in Tallahassee is quite exciting,” said Tynan.
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Governmental Affairs News
News from the Hill: Congress tackles debt ceiling, both chambers continue work on other legislation

Floor Schedule

Both chambers are back in Washington this week. The House returns Monday by resuming consideration of the Energy and Water Appropriations bill. The House will also consider legislation to repeal the energy efficiency standards that led to the phase out of the incandescent light bulb. On Tuesday, the House will consider the Flood Insurance Reauthorization bill. Later in the week, the House is expected to consider the Clean Water Cooperative Federalism Act (regarding the EPA’s ability to influence state and local water quality standards), the Financial Services and General Government Appropriations bill, and the FAA Reauthorization Act.

The Senate returns Monday as well, and will resume consideration of S. 1323, a bill to express the sense of the Senate on shared sacrifice in resolving the budget deficit. To the extent that the Majority Leader permits amendments to be offered to this legislation, the LSCU expects them to be message amendments. It is not clear at this time what additional legislation the Senate intends to consider before the end of its work period, other than eventually something related to the debt ceiling.

Committee Schedule

The highlight of the committee activity this week will be the semi-annual monetary policy report to Congress delivered by Fed Chairman Ben Bernanke which will take place on Wednesday (before the House Financial Services Committee) and Thursday (before the Senate Banking Committee).

The League is also following several other committee meetings on both sides of the Capitol, including the following:

On Tuesday, the House Financial Services Committee Subcommittee on Capital Markets and Government Sponsored Enterprises will hold a markup on several bills related to Fannie Mae and Freddie Mac.  During this mark-up, the Subcommittee is expected to consider the following bills: H.R. 463, Fannie Mae and Freddie Mac Transparency Act of 2011; H.R. 2436, the Fannie Mae and Freddie Mac Taxpayer Payback Act of 2011; H.R. 2441, the Housing Trust Fund Elimination ActH.R. 2440, the Market Transparency and Taxpayer Protection ActH.R. 2462, Cap the GSE Bailout ActH.R. 2439, Eliminate the GSE Charter During Receivership; and  H.R. 2428, the GSE Legal Fee Reduction Act. On Wednesday, the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity will hold a hearing on “Mortgage Origination: The Impact of Recent Changes on Homeowners and Businesses.”

On Thursday, the House Oversight and Government Reform Committee will hold a full committee hearing entitled, “Consumer Financial Protection Efforts: Answers Needed.” Dr. Elizabeth Warren, assistant to the president and special advisor to the secretary of the treasury, will testify.

Also on Thursday, the House Financial Services Committee Subcommittee on Oversight and Investigations will hold a hearing on “Oversight of the Office of Financial Research and the Financial Stability Oversight Council.”

Last Week

As you may know, last Friday, new national unemployment numbers were released. In reaction to the new data which showed 9.2 percent of Americans are unemployed and actively seeking employment, the League and CUNA are reaching out to Congressional offices to make the case that credit unions are in a position to help. By increasing the credit union Member Business Lending (MBL) Cap from the current limit of 12.25 percent of assets to 27.5 percent of assets, credit unions could help small businesses create 140,000 new jobs­ - more than 6,000 in Florida, and more than 2,000 in Alabama.

In an effort to continually reinforce the MBL message, CUNA also sent an email to all House and Senate Republican legislative directors bringing to their attention a segment on Fox Business News which featured Barry Sloane, president/CEO of the Small Business Authority, who noted that allowing credit unions to do more small business lending is a free market solution to the critical problem of access to small business capital.

Looking Forward

The House was previously scheduled to be in recess during the week of July 18, however, leadership announced late last week that the House would be in session and voting. The LSCU now expects both chambers to remain in session until at least Aug. 6.

For questions about the floor and committee schedules, 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: LSCU legislative issues, redistricting continues

LSCU Legislative Issues

The LSCU Governmental Affairs team is in the process of reviewing all legislative issues for the upcoming 2012 Legislative Session. Several hot button issues from the 2011 Legislative Session are still on the table, and the team continues to research issues and ideas that will affect credit unions ability to operate in the best manner with the least restrictive regulations possible. As the legislative agenda is finalized, the League will make sure to update everyone on the priority issues and their position on each. Remember, the 2012 Legislative Session begins early due to redistricting, with an opening date of Jan. 10, 2012 and a scheduled final day of Session of Mar. 9, 2012.

Oil Spill Recovery Continues

The U.S. Senate Committee on Small Business and Entrepreneurship will hold a hearing in Pensacola on Monday to discuss the state of recovery efforts a year after the Deepwater Horizon oil spill. Sen. Marco Rubio (R-FL) will attend the hearing, along with Florida’s Agricultural Commissioner Adam Putnam, who is among the scheduled witnesses. The hearing is scheduled to begin at 9:30 a.m. CDT at the Pensacola State College Amos Performance Studio, 1000 College Blvd.

Redistricting Efforts Continue

The House and Senate continue to hold public hearings on redistricting in an effort to redraw Florida’s state and federal district lines. The latest hearing is Monday, July 11, at the Florida State College campus in Downtown Jacksonville, 401 West State St. The hearing will be split into two sessions. One starts at 2 p.m., while the second one starts at 6 p.m. Tuesday’s hearing will take place in St. Augustine beginning at 8 a.m. in the auditorium of Flagler College, 14 Granada St. An additional hearing will be held Tuesday night in Daytona Beach at the News-Journal Center at Daytona State College, 221 North Beach Street at 6 p.m. Further hearings will be held on Wednesday in The Villages and in Gainesville. The Villages hearing will start at 8 a.m. at the Colony College Recreation Center, 510 Colony Boulevard. The Gainesville hearing will start at 6 p.m. in the Fine Arts Hall on the campus of Santa Fe College, 3000 N.W. 8th Street.

Florida Still Boasts Wealthiest Governor

While Gov. Rick Scott saw a dramatic drop in his overall wealth since taking office in January 2011, he is still the nation’s wealthiest governor with a reported net worth of $102.8 million. When Scott jumped into the gubernatorial race in 2010, his reported net worth was $218.5 million. Much of the reported loss can be attributed to Scott spending roughly $70 million of his own money to finance his campaign, as well as his recent sale of controlling shares in Solantic Urgent Care clinics. While Scott’s net worth has dropped, he is still more than 10 times wealthier than any of the other three cabinet members. Agricultural Commissioner Adam Putnam, who has been rumored to be mulling a 2014 gubernatorial run against Scott, reported a net worth of nearly $7 million. Chief Financial Officer Jeff Atwater reported a net worth of $1.63 million, while Attorney General Pam Bondi reported being worth just under $500,000.

CFO Atwater Raising Money for 2014

Agricultural Commissioner Adam Putnam may be mulling a 2014 run for the Governor’s Mansion, a claim he flatly denied last week. CFO Jeff Atwater may also be making an early push to challenge the incumbent Gov. Scott. Atwater has already begun raising money for his 2014 campaign, the first of the Cabinet officers to begin doing so, and speculation has been that he will raise money for the CFO’s office, knowing he can transfer it to a gubernatorial campaign, should the opportunity arise. When asked, Atwater said, “The very purpose of filing papers for CFO for 2014 was to end any speculation that I held any other goal for 2014. Being Florida’s CFO is a great job.” However, this is politics, and 2014 is a long ways away.

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.

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This week in Alabama politics: Lawsuits filed against legislation, Rep. Canfield's new role

Lawsuits Filed on Legislation Passed

As expected, several of the recent bills passed in the 2010 Special Session and 2011 Regular Session of the Alabama Legislature, and subsequently signed into law by Govs. Riley and Bentley, have received criticism from groups around the state. Two laws in particular are now being challenged in court with lawsuits.

During the 2010 Special Session, a bill was passed and signed into law that banned PAC-to-PAC transfers in Alabama. The Alabama Democratic Conference (ADC), the minority wing of the Democratic Party, filed a suit in federal court challenging the new law. The suit claims that the law violates free speech rights and impairs the group’s ability to get black voters to the polls on election day in order to elect minority candidates. Money from the Alabama Democratic Party has been a major source of funding for the ADC in the past, and it will no longer be able to receive that funding under the new restrictions. The suit requests that a judge prevent the attorney general from enforcing the law.

On Friday, two groups filed a lawsuit in federal court to block Alabama’s new immigration law that was passed during the 2011 Regular Session. The suit, brought by the Southern Poverty Law Center and the American Civil Liberties Union, cite numerous reasons for the law being unconstitutional. Some of those are that the law claims federal immigration authority for the state, it violates search and seizure provisions of the United States Constitution, and forbids legal immigrants from attending state universities. Gov. Bentley supports the new law.  It is set to take effect in Alabama on Sept. 1, 2011, and is considered the toughest immigration law passed in any state to date.

Rep. Greg Canfield to Take on New Role

Rep. Greg Canfield (R-Vestavia) has been appointed by Gov. Bentley as the new director of the Alabama Development Office (ADO). Rep. Canfield currently represents District 48 which includes parts of Jefferson and Shelby Counties. Since his election to the Alabama House of Representatives in 2006, Rep. Canfield has been very active in local and state economic development. He is expected to take over at ADO by August 1 of this year, followed by a special election to fill his vacated House seat. The League will keep you up-to-date once that has been called and all dates set.

If you have any questions regarding current legislation in Alabama, contact Director, Legislative Affairs Jason Cochran at 866.231.0545, ext. 2159. [ Return to Top ]

Project Zip Code can be a useful marketing tool

Being able to tell your elected officials exactly how many credit union members live in their district is among the most powerful grassroots tools the credit union movement has. But to be useful, the information has to be correct. Running Project Zip Code (PZC) on a regular basis is critical to ensuring your membership is counted. Project Zip Code version 11.0 is now available.

Project Zip Code is a secure program that counts your credit union members and matches them by congressional district, state legislative district and county. This year more than any other, it is important to show the strength of credit union numbers to the newly elected officials. Alabama and Florida have more than 80 newly elected state and 10 federal officials.

By participating in PZC, and updating the information regularly, the grassroots strength of credit unions will not be surpassed by any other organization. To date, more than 75 million of 90 million credit union members have been identified.

In addition to grassroots advocacy, PZC can help credit unions better serve their members.  By using the Queries and Reports functions of PZC, you can see where your membership lives by state, county and zip code. In addition, the information can be uploaded into Map Point software to give you or your marketing department a map of membership concentrations for your credit union. These functions allow credit unions to better track where their membership resides and can be helpful with ATM expansion, branch location planning, outdoor advertising, or other ways to reach out to members and potential members.

Don’t let your membership be uncounted or undercounted.  Even if you have already run Project Zip Code, take a few minutes to run PZC at your credit union. You can download the program to your desktop by visiting the PZC homepage and clicking on the “Download Project Zip code 11.0.” A detailed User Manual is also available on the website. These numbers are uploaded to CUNA’s Project Zip Code website and combined with data from credit unions nationwide. None of your members’ personal identifying information ever leaves your database.

For more information about PZC, contact LSCU Grassroots and Political Action Coordinators Robbie Gordon (AL) at 866.231.0545 ext. 2164 or Andy Gonzalez (FL) at ext. 1010. [ Return to Top ]

Compliance Corner
League InfoSight highlight: Americans with Disabilities Act Requirements for ATMs

The current edition of the League InfoSight newsletter has an article about the reviewed and updated Americans with Disabilities Act (ADA) Regulations for ATMs in the ACH/Electronic Payments Channel.

The revised regulations update the ADA standards governing the construction and alteration of facilities covered by the ADA, including places of public accommodation such as businesses and government facilities. These regulations include specifications for access to Automated Teller Machines (ATM).

Any credit union with an ATM is required to meet the standards defined by the U.S. Access Board's Accessibility Guidelines. These guidelines have specific requirements for ATMs to meet regarding such things as height, input devices, approach space, etc. Failure to meet these standards can result in civil fines and injunctions requiring compliance.

Read more about the updated ADA requirements 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.

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LSCU, CUNA Regulatory Advocacy Report

Debit Card Interchange Fees

CUNA and the League want to make sure credit unions have useful information regarding the regulation of debit interchange card fees. In addition to a conference call highlighting the final rule that was hosted by CUNA last week, CUNA’s Regulatory Advocacy group will post on its website beginning July 12 a podcast on the final rule and interim final rule on fraud prevention costs. It will be free and available to all CUNA/LSCU members. The League is also pursuing issues related to two-tiered systems to help protect debit fee income for small issuers.

Consumer Financial Protection Bureau

CUNA participated in a roundtable discussion last week hosted by the Consumer Financial Protection Bureau (CFPB) regarding how the agency should define the term “larger participants” in financial services with respects to entities that are not federally-insured banks and credit unions. In late June, CFPB issued a notice and request for comment regarding the “larger participant” definition, and the agency will be accepting comments until Aug.15.

The specific types of services discussed in the CFPB meeting included non-depository auto lenders, prepaid debit card providers, credit reporting agencies, debt collection agencies, debt relief companies, and money transmitting services (such as Western Union). Privately-insured credit unions were not discussed in this meeting although several roundtable participants – including representatives for consumer groups – suggested to CFPB staff that the CFPB should not examine entities that are already supervised by state regulators, but should instead work with state regulators in order to avoid duplicative regulation. CUNA remains committed to ensuring that privately-insured credit unions remain free of unnecessary regulatory burdens and plans to discuss privately-insured credit union supervision with CFPB in the near future.

Also, the CFPB and the Judge Advocate Generals of the United States Army, Marine Corps, Navy, Air Force, and Coast Guard have announced an agreement on a Joint Statement of Principles to provide stronger protections for service members and their families in connection with consumer financial products and services. Click here to view the press release. [ 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.
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Cooperative Initiatives News
National Youth Involvement Board Annual Conference

The National Youth Involvement Board Annual Conference is scheduled for July 25-28 in Pittsburgh, PA. Topics include 20/20 Vision of Marketing, Student Branches, Psychology of Today’s Youth, 17 Classroom Strategies to Break Through to Kids, and A Different Take on Career Development. Conference registration is $599 and the pre-conference plus conference registration fee is $749.

For more information, click here. [ Return to Top ]

NCUF video explains the Community Investment Fund program

The National Credit Union Foundation's (NCUF) Community Investment Fund (CIF) is an innovative program that provides a return to credit unions on their investment, as well as helping state foundations and the NCUF. The program is in its twelfth year, but many credit unions don't fully understand the power of the CIF program.

The NCUF recently posted a video where NCUF Resource Development and Donor Recognition Director Josie Collins explains the program. The four-minute video shows that a credit union's CIF account helps on a local, state, and national level. Getting started with an investment into the $360 million CIF is easy and credit unions have three options of where to place their money.

To watch the NCUF video, click here. To learn more about the CIF program, contact Southeastern Credit Union Foundation Executive Director Amber Tynan at 866.231.0545 ext. 1154. [ Return to Top ]

Join LSCU in support of CMN Hospitals with Miracle Jeans Day

The Miracle Jeans Day concept is simple, individuals or groups can participate in Miracle Jeans Day by supporting Children's Miracle Network Hospitals with a minimum donation of just $5. In return, participants can choose from memorable Miracle Jeans Day merchandise to wear with their jeans on Sept. 14. All funds raised go directly to the Children's Miracle Network Hospital in your community. Go casual for kids by wearing jeans to support your local Children's Miracle Network Hospital.

Together we can all make a difference with the nine combined Children's Miracle Network Hospitals in Alabama and Florida. There may even be someone in your company whose life has been touched by one of these amazing places—and they all need your help. Whether you're already raising funds for Children's Miracle Network Hospitals or this is your first fundraising campaign, Miracle Jeans Day is a terrific way to show your employees and your consumer base that your company supports children's health. For more information contact Southeastern Credit Union Foundation Executive Director Amber R. Tynan at 866.231.0545 ext. 1154 or visit the Miracle Jeans website. 

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Education News
Disaster Recovery Conference is Tuesday and Wednesday

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 the LSCU Disaster Recovery 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, 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:

 

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Room cut off for special rate is today for LSCU Supervisory Committee Conference; registration open until July 29

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. 

Click here to view/download  the conference flyer.

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
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:

 

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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.

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

Education Calendar

Upcoming Events:

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

Wednesday, July 13
Completing & E-Filing the Currency Transaction Report Form: Line-by-Line
3 – 4:30 pm EST – webinar

Tuesday, July 12 & Wednesday, July 13
LSCU Disaster Recovery Conference
Pensacola, FL

Click here to view complete calendar of events.

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LEVERAGE News
CU Members Mortgage extends education commitment to helping CU's understand industry change

With the mortgage industry’s constant acclimation, CU Members Mortgage has proactively committed to educating its credit union partners, along with other interested industry representatives, to keep staff prepared for change. The company’s education efforts ensure credit unions are up-to-date on the latest mortgage-related issues to help smooth transitions during complex regulation changes and guide members through today’s new home loan process.

As part of CU Members Mortgage’s commitment to educate partners about the changes, listed below are some of the mortgage-related topics it provides for its client partners:

  • SAFE Act including Loan Officer compensation and NMLS requirements
  • Qualified Residential Mortgage (QRM)
  • Secondary marketing
  • FHA Origination
  • Fannie Mae LQI
  • Maximizing Income and Minimizing Risk in Mortgage Lending

“There are so many regulation changes and adjustments these days that it’s a full-time job to keep up with it all,” says CU Members Mortgage President David Motley. “We feel it is our responsibility to consistently update our partners on these constant changes so they can stay in compliance and continue to provide a competitive home loan for members – which is the very reason we have made a proactive outreach effort to help educate our partners.”

For more information, click here. [ Return to Top ]

News from You
USA FCU's Betty Gorham announces retirement after more than 30 years of service

Pictured: Felicia McKee (left), Betty Gorham (right).

Betty Gorham, CEO and manager of University of South Alabama FCU in Mobile, has announced her retirement. Betty has served the credit union faithfully for more than 30 years. A reception was held on June 28, 2011, to celebrate the announcement. The event took place at the credit union’s office on Hillcrest Road, in Mobile. Members of the board of directors, supervisory committee, and staff attended the party. Credit union managers, volunteers, and staff from numerous Mobile area credit unions also attended. Friends and family members recounted many of Betty’s contributions to the credit union movement,and the community at large. Felicia McKee, who is currently the vice president of USA FCU will move in to Betty’s position. [ Return to Top ]

CFE FCU selected as Business Partner of the Year for Osceola County School District

CFE Federal Credit Union was selected as a 2010-2011 District Business Partner of the Year for Osceola County Schools and received statewide recognition during the Commissioner’s Business Recognition Awards ceremony hosted by Florida’s Department of Education and the Florida Education Foundation.

The award was based on CFE’s commitment to education and support of the Osceola School District in their mission to serve their students by providing the highest quality education possible. Suzanne Dusch, vice president of Marketing, received the award on behalf of CFE at an Osceola County School Board meeting.

CFE has partnered with the school district in an affinity debit card program resulting in a cash donation of $20,400 over the past two years. The credit union opened a branch at Poinciana High School several years ago, and, at the start of each school year, trains selected students to fully operate the branch that serves students, faculty, and staff at the school. In addition, CFE sponsors numerous programs for the school district, provides scholarship funds, donates clothing for homeless students, and serves on the Education Foundation Board. [ 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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