LSCU eSignal Weekly
LSCU eNews Weekly August 29, 2011
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LSCU eNews Weekly
In This Issue
LSCU Headlines
President's Point
NCUA board announces 2011 assessment rate
CUNA, NCUF meet with Consumer Financial Protection Bureau
League issues Action Alert, uses radio ad urging Congress to raise MBL cap
SECUF, along with two partners, to host Community Development Workshop Oct. 24
CUNA article positions credit unions as safe harbor for nervous investors
Tom Dorety to receive Wegner ‘Lifetime Achievement’ Award
Governmental Affairs News
This week in Alabama politics: 2012 legislation discussed, Jefferson Co. to cut additional 20 percent
This week in Florida politics: New OFR Chief begins work, Gov. Scott forces out Corrections Chief
Compliance Corner
League InfoSight highlight: FTC Mortgage Acts and Practices added to Advertising Channel
Home Mortgage Disclosure Act (HMDA) Violations
Compliance calendar and training
Cooperative Initiatives News
SECUF launches new Facebook page
Credit uninos are asked to vote on 2012 Youth Challenge theme
Education News
2011 LSCU Development Conference registration is open
LSCU Regulatory Compliance Updates only two weeks away
Education Calendar
LEVERAGE News
Upcoming Ventelligence ePurchasing event
Receive 100 percent of your marketing potential for 2012 with Sprint
CUNA Mutal Group adds to its compliance resources with new hire
News from You
CFE FCU recognized as top 20 company for working families in 2011
ATCU kicks off 'Back to School!'
EMPLOYMENT
View available credit union jobs
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LSCU Headlines

President's Point

This past Thursday, Southeast Corporate Federal Credit Union announced it would discontinue its $80 million recapitalization efforts. Southeast Corporate had received many capital commitments, but fell short of its goal. All credit unions that signed up during the recapitalization period will have their commitments canceled and Southeast will move to Plan B, which is to seek a merger partner, which is well underway.

This was tough news for many within our industry. Southeast had been a preferred business partner for Florida and Alabama credit unions for years, providing superior products and services as well as member service. Southeast Corporate CEO Brad Miller has done a commendable job working to keep Southeast as a stand-alone corporate. In the two years I have been in my role, he has shown himself to be of the highest character during these tough economic times.   

What should Southeast Corporate member credit unions do now? First and foremost credit unions shouldn’t do anything. It’s important to let Southeast Corporate complete its due diligence and find a preferred merger partner. There will be no disruption of service for members. Once a partner is identified, Miller says they will be brought before the membership with enough time for members to make an informed decision. You can expect the new partner will hold many of the same values Southeast held, Miller says, by “preserving member capital, maintaining service continuity, and providing lasting member value.”

Once a merger partner is identified, and approved by the NCUA, credit unions should evaluate its pricing, new capital requirements, along with products and services offerings, so they can make a well informed decision.  While there will be some differences, I’m sure that many of the services provided by the new partner will be very similar. Southeast is planning a webinar in September to inform member credit unions of the progress of its alternative plan. Details for the webinar will be released soon.

Southeast Corporate has been a trusted partner for the League for quite some time. We hate to see them merged into another corporate. I hope credit unions don’t rush to identify a new provider, but instead wait until more information comes out over the next month. I believe patience over the next few weeks will pay off in the long run. The League will begin its own process of identifying preferred partners for corporate services.     

I welcome your thoughts and feedback.

  [ Return to Top ]

NCUA board announces 2011 assessment rate

The NCUA board held a special meeting on Aug. 29 to announce the 2011 Corporate Credit Union Stabilization Fund assessment. The board is requiring credit unions to pay 25 basis points (bp) this year. The due date is Sept. 27. The final assessment is consistent with estimates and within the range announced by NCUA last year. As expected, there will be no NCUSIF assessment this year. Next year’s stabilization assessment is expected to be approximately 13 bp.

In addition to announcing this year’s Stabilization Fund assessment, the board discussed a proposed rule related to Part 704 on corporate credit unions, and discuss maintenance of the NCUA Guaranteed Notes (NGNs). The board approved an oversight committee to ensure, as the CU Times reported, "that NCUA fulfills its ongoing responsibilities under the NGN program in a manner that promotes transparency, efficiency and accountability." 

The NCUA has engaged Blackrock to conduct quarterly modeling of losses and cash flows on the securitized assets in the NGNs. Blackrock's new estimates forecast a wider range than previous projections given the ongoing economic volatility. However, the upper level of estimated losses is $1 billion lower than previous estimates while the lower range is $3.1 billion lower.  These projections do not include any potential recoveries from settlements or litigation, which would reduce the cumulative total assessments costs.

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

CUNA, NCUF meet with Consumer Financial Protection Bureau

As the Consumer Financial Protection Bureau (CFPB) grows, credit unions are becoming more within the lines of communication. CUNA and the National Credit Union Foundation (NCUF) have had several important meetings with the bureau. This past Monday, NCUF Executive Director Bucky Sebastian and National Program Director of Real Solutions, Lois Kitsch, met with senior agency staff to educate them on the Foundation’s financial literacy programs among other topics.

Last Wednesday, senior CUNA and Foundation staff met with Elizabeth Vale, who heads up the CFPB’s Office of Community Banks and Credit Unions. (Vale will be a featured speaker at the LSCU Development Conference in Point Clear, AL November 1-4.) A number of issues and concerns were discussed including regulatory burdens, the agency’s efforts to regulate mortgage disclosure forms and other topics. Ms. Vale also brought in other senior staff including Patricia McCoy, assistant director for mortgage and home equity markets and David Silberman, assistant director for card markets.

Also on Wednesday, CUNA’s TILA-RESPA Combined Form Working Group participated on a call led by the CFPB to discuss the agency’s proposed template for integrating the Truth in Lending Disclosure Statement and RESPA’s Good Faith Estimate forms, as required by the Dodd-Frank Act. The CFPB has made available on its website the latest versions of the combined forms. These have been labeled, “Azalea” and “Camellia”. CUNA’s group favored the Camellia form as it provides more useful information for consumers. The next draft will be released in September and CUNA has already been invited to weigh in on the draft after it is released.

  [ Return to Top ]

League issues Action Alert, uses radio ad urging Congress to raise MBL cap

The new member business lending (MBL) radio ad highlights the economic benefit to Alabama’s economy that would result from raising the limit on credit union MBLs. The ad features a real business owner in Alabama who benefitted from a credit union MBL, but was also turned down for an additional loan because his credit union was up against its statutory cap. Listeners are asked to utilize a toll free number to contact their members of Congress and urge them to raise the current cap on credit union member business loans.

The ad will run on seven radio stations in Birmingham, Dothan, Florence-Muscle Shoals, Huntsville, Mobile, Montgomery, and Tuscaloosa, Ala., until Sept. 2. It's important that Congress hears from credit unions and small businesses. The League needs all credit unions to:

  • Call 877-547-7159 and urge your member of Congress to support S. 509 in the Senate and H.R. 1418 in the House and to raise the MBL cap
  • Download the ad to your website, phone system and social media pages
  • Urge the small businesses you work with to contact their members of Congress through the toll free number

Some of the major points to communicate to Congress are:

  • Raising the credit union MBL cap would free up more than $200 million in small business loans in Alabama
  • Over 2,000 new jobs would be created in Alabama
  • Nationally, credit to small businesses would increase by $13 billion, creating 140,000 new jobs
  • This would be a huge economic stimulus package that will generate results at no cost to taxpayers
  • Credit unions do not need taxpayer assistance to encourage them to do more business lending. We only need authority from Congress

More talking points are available on a one-page explanation of the importance and impact of raising the cap on credit union member business lending and an open letter to Congress from numerous small businesses. Also, here is a Wall Street Journal article which features Terry McDaniel, the Alabama business owner who appears in the radio ad.

If you have any questions, please contact LSCU SVP, Governmental Affairs Will McCarty at 866.231.0545 ext. 2137. For trouble downloading the ad, contact LSCU VP, Marketing and Communications Mike Bridges at ext. 1022. [ Return to Top ]

SECUF, along with two partners, to host Community Development Workshop Oct. 24

Credit unions have ample opportunities to serve the underserved in their respective local communities. However, many credit unions don't know the steps to take to apply for a grant or to work with the NCUA on regulatory exemptions. The Southeastern Credit Union Foundation (SECUF), along with the National Federation of Community Development Credit Unions and CU Strategic Planning, Inc., will host a Community Development workshop in October in the Tampa area on Oct. 24. The workshop will cost just $20 and that fee will cover food for the day.

The workshop, which will run from 8:30 a.m. to 4:30 p.m., will cover a variety of topics including:

  • Steps to apply for a Community Development Financial Institution (CDFI) Grant
  • How to work with the NCUA on regulatory exemptions
  • What are the largest grants available to credit unions
  • The benefits of the NCUA Low Income Designation
  • The Power of the CDFI Certification
  • The bottom line impact to your credit union

The location of the conference will be sent to credit unions soon. However, those interested in learning more about the topics above are asked to save the Oct. 24 date. The workshop will inspire and equip credit unions to branch out more into the underserved parts of their community.

For questions about the workshop or any of the topics to be discussed, contact SECUF Executive Director Amber Tynan at 866.231.0545 ext. 1154.

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CUNA article positions credit unions as safe harbor for nervous investors

Credit Union National Association's (CUNA) have published two articles: “Your Credit Union: Safe Harbor in Financial Storms” and “U.S. Credit Rating Slips: What (If Anything) Does it Mean to You?”— to remind members that credit unions are strong and stable.

“These two articles remind consumers that credit unions are a safe haven for their hard-earned money, even during times of economic uncertainty,” explained Vikki Kinsler, manager of the Copy & Art Express newsletter service.

While the downgrade in the U.S.’s credit rating has shaken investors, the credit rating drop has actually had a positive short term impact on bonds, the “Credit Rating Slip” article explains.

“Major swings in the stock market can be unsettling for consumers, making this a good time to remind them that credit unions insure members’ savings to at least $250,000, says Kinsler. “Federal insurance from the National Credit Union Administration protects members’ money in credit union share savings, share draft/checking, money market, share certificates, trust, and retirement accounts.”

The “Safe Harbor” newsletter article reminds members that credit unions have a strong capital position. That strong capital base—undivided earnings and reserves—helps credit unions and their member-owners weather uncertain economic times.

With the economic outlook uncertain, it’s good to remind members that credit unions are safe and secure.

For more information or to preview Copy & Art Express, click here.

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Tom Dorety to receive Wegner ‘Lifetime Achievement’ Award

This year's awards mark the first time in the National Credit Union Foundation's (NCUF) history that two awards for Lifetime Achievement will be given. Dorety’s award will be one of three total Herb Wegner Memorial Awards presented at a special dinner hosted by NCUF at the Grand Hyatt Washington on March 19, 2012 —Monday night of the CUNA 2012 Governmental Affairs Conference. Online registration for dinner tickets will be available later this year on the NCUF website.

“When you look at the lifetime efforts of Tom’s, you realize that this is the perfect description of dedication, compassion and success within the credit union world,” said NCUF Awards & Recognition Committee Chairman Bob Schumacher. “No matter what Tom does, it seems to turn into something good for someone else.”

“Most people are probably not aware of the extent of Tom's contributions to the credit union movement because he often lets others accept the accolades,” noted Stan Hollen, president/CEO of CO-OP Financial Services in Rancho Cucamonga, Calif. “Tom has given so much to his profession, his credit union, and the greater credit union community over the years.”

Dorety has been president/CEO at Suncoast Schools FCU since April 1996, previously serving as a Senior Vice President for eight years. Suncoast Schools FCU is the largest credit union in Florida and the eleventh largest in the country, with $5 billion in assets. Prior to coming to Suncoast Schools FCU, he spent 13 years at State Employees’ Credit Union in Raleigh, N.C. Dorety has served as chairman of the Credit Union National Association (CUNA), Filene Research Institute, National CEO Roundtable, and MEMBERS Trust Company. He currently serves on the boards of the CO-OP Financial Services Network, Hillsborough County Education Foundation, and All Children’s Hospital. [ Return to Top ]

Governmental Affairs News
This week in Alabama politics: 2012 legislation discussed, Jefferson Co. to cut additional 20 percent

Drug Testing for Welfare Recipients
It hasn’t taken long for legislators throughout Alabama to begin discussing possible legislation for the 2012 Regular Session that begins Feb. 7. One such piece of legislation that is garnering a lot of attention is modeled after a similar proposal passed in the state of Florida this past year, and would require welfare recipients to undergo a drug test before receiving any benefits.

Sen. Scott Beason (R-17th District) introduced a bill toward the end of the 2011 Regular Session that would have accomplished this goal, but there was not enough time to have it passed by the entire legislature. State Rep. Alvin Holmes (D-78th District) pledged to take his own drug test and present the results to the House of Representatives. He has also encouraged all members of the Alabama House and Senate to do the same since they too receive taxpayer money.

Jefferson County to Cut Additional 20 percent
Budget woes are being felt by every city and county in Alabama, and Jefferson County is soon to take another huge hit. The county’s department heads were told that they will need to reduce their annual budgets by additional 20 percent in order for the county to be operating on a balanced budget, as required by law. In dollars, Jefferson County will need to find a way to operate on $100 million less than the previous year’s budget of $312 million.

Second Gambling Trial to begin in January
U.S. District Judge Myron Thompson set Jan. 9, 2012 as the start date for the second trial in the gambling corruption scandal in Montgomery. After not receiving one guilty verdict in the original trial, the prosecution  requested that the new trial be split into three separate trials. Judge Thompson has not ruled on this motion and has been hesitant to do so because he denied similar motions from the defense before the beginning of the original trial.

With the acquittal of Sen. Quinton Ross (D-26th District), Sen. Harri Anne Smith (I-29th District) is the only current State senator still on trial. With the 2012 Regular Session scheduled to begin on Feb. 7, this could mean that Sen. Smith will be wrapped-up with the trial rather than in the Statehouse for a large portion of the legislative session.

If you have legislative questions, contact LSCU Director, Legislative Affairs Jason Cochran at 866.231.0545, ext. 2159. [ Return to Top ]

This week in Florida politics: New OFR Chief begins work, Gov. Scott forces out Corrections Chief

LSCU Legislative Issues:

The LSCU Governmental Affairs (GA) team has been hard at work to secure sponsors for the League’s legislative priorities. Last week, the GA team learned that Rep. Clay Ingram (R-2nd District) and Sen. Chris Smith (D-29th District) would both file legislation that would amend chapter 280, Florida Statutes, to allow credit unions to become Qualified Public Depositories. This is a giant first step in changing this long-needed reform, and the LSCU is excited to work with Rep. Ingram and Sen. Smith to make this a reality. The League will continue to keep credit unions updated on the progress of this, and all legislation that will affect credit unions.

Grassroots Activity
As the 2012 Legislative Session nears, it is increasingly important for grassroots advocates to do their part to help the credit union movement. Planning Chapter Legislative Nights, in-district meetings with your legislators, and emails, letters or phone calls all make a difference. The GA team will help credit unions and chapters plan grassroots activities, and any questions should be directed to LSCU Grassroots and Political Action Coordinator, Andy Gonzalez at 866.231.0545, ext. 1010.

Florida Political News:

New OFR Chief Starts Today
Tom Grady, Florida’s new head of the Office of Financial Regulation, begins his tenure Aug. 29. LSCU representatives are working to set up a meeting with the new commissioner as soon as his schedule allows.

Gov. Scott Forced Out Hand-Picked Corrections Chief
Gov. Rick Scott this week showed his business background as he relieved his hand-picked Department of Corrections Secretary of his duties. Just a few months ago, Gov. Scott welcomed Edwin Buss to his administration, touting him as someone who would help change the way the Department of Corrections does business. This past week, citing a clash over management and philosophy styles, the governor replaced Buss with Ken Tucker, the current deputy commissioner of the Florida Department of Law Enforcement. Buss, who earned nearly $145,000 and was one of the highest paid agency heads, was also one of the first agency heads hired by Gov. Scott after he was elected.

Busy Week for Redistricting
As the Legislature moves closer to the start of interim committee weeks, the Redistricting Committee is hard at work holding public hearings on how the citizens of Florida believe the maps should be re-drawn. There will be a hearing Monday in Tampa at 4 p.m. in the auditorium at Jefferson High School, 4401 Cypress Street. Tuesday, hearings will be held in Largo and Sarasota. The Largo session starts at 8 a.m. and will be held in the EpiCenter at St. Petersburg College, 13805 58th St. N. The Sarasota hearing starts at 6 p.m. and will be held at the Harry Sudakoff Conference Center on the campus of New College, 5845 General Dougher Place. Wednesday’s hearings will be in Naples and Lehigh Acres. The Naples hearing starts at 8 a.m. and will be held in the Naples Daily News Community Room, 1100 Immokalee Road. The Lehigh Acres hearing starts at 6 p.m. and will be held in the Veterans Park Recreation Center, 55 Homestead Road South. Thursday’s hearing will be held in Clewiston at 8 a.m. at the Hendry County Health Department, 100 South Olympia Ave.

For questions on any legislative issues, contact LSCU Director, Legislative Affairs Jared Ross at 866.231.0545, ext.1012.
[ Return to Top ]

Compliance Corner
League InfoSight highlight: FTC Mortgage Acts and Practices added to Advertising Channel

The current edition of the League InfoSight newsletter has an article about the Advertising channel's recent update, with the addition of a new topic: FTC Mortgage Acts and Practices.

The Federal Trade Commission (FTC) recently issued a final rule relating to unfair or deceptive acts and practices that may occur with regard to mortgage loan advertising. The rule becomes effective August 19, 2011, and applies to state chartered credit unions (and possibly CUSOs), but not federal credit unions.

The rule prohibits any misrepresentation in any advertisement or commercial communication regarding any of the terms or conditions of any mortgage loan product (for personal, family or household purposes) regardless of whether it is open-end or closed-end. A "commercial communication" has been defined very broadly to include any written or oral statement designed to make a sale or create interest in purchasing goods or services whether it appears on radio, television, brochure, newspaper, magazine, pamphlet, mailer, insert, letter, poster, billboard, audio program, training materials, the Internet or any other medium.

Read more about the FTC Mortgage Acts and Practices in the Advertising Channel of 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 ]

Home Mortgage Disclosure Act (HMDA) Violations

Credit unions have become more nervous regarding potential Home Mortgage Disclosure Act (HMDA) penalties for late filing of the required Loan Application Register (LAR). The League and CUNA put together information about the process that may be instructive for credit unions concerned about potential violations.

For affected credit unions, the LAR is required to be submitted to the NCUA no later than March 1 following the calendar year in which certain required mortgage loan application data is collected. In instances where this filing does not occur by the required March 1 deadline, or other violations of either Regulation C (which implements HMDA) or HMDA occur, substantial civil money penalties and administrative sanctions may be imposed. However, an error in compiling or reporting data is not a violation if it is unintentional and occurred despite the maintenance of procedures reasonably adopted to avoid such errors. As an example of the penalty amount that may be imposed, it is not unlikely that a $50M asset credit union may be faced with an initial proposed penalty of approximately $90,000.

While the Federal Reserve Board previously maintained rulemaking authority over Regulation C, effective July 21, 2011 this authority was transferred to the Consumer Financial Protection Bureau.  Enforcement authority remains with the NCUA for those credit unions with less than $10 billion in assets. 

By way of additional background, HMDA was enacted by Congress in 1975, and makes available to the public information that helps to show whether financial institutions are serving the housing credit needs of their communities. HMDA data also help identify possible violations of fair lending requirements and assist regulatory agencies in enforcing compliance with the anti-discriminatory laws. 

Last week, CUNA staff met with NCUA’s Office of Consumer Protection (OCP) to discuss the process by which HMDA violations are handled by the NCUA. In general, the OCP obtains a list of those credit unions that are required to file a HMDA LAR well prior to the March 1 deadline each year. Upon receipt of this list, the OCP shares this information with each NCUA Regional Office, and Regional Offices begin notifying affected credit unions to be certain to comply with the upcoming LAR filing deadline.

Subsequent to the March 1 filing deadline, the NCUA receives another list of late filing institutions, and sends this list to the Regional Offices. Regional offices then contact affected institutions to inquire as to whether there are any extenuating circumstances that might assist in explaining the late filing. Any such extenuating circumstances and/or supporting data is then requested by the NCUA’s OCP, consolidated and submitted to the NCUA’s Office of General Counsel and to the NCUA Office of Examination and Insurance. It is these latter two offices that determine the extent to which and amount of any potential HMDA violation penalties are to be levied against affected credit unions, taking into consideration any mitigating factors.

The NCUA emphasized the agency’s intent to provide every attempt possible for credit unions to explain such extenuating circumstances involving HMDA violations well prior to any penalties being levied against an institution. Additional factors taken into consideration by the agency include whether the HMDA violation is repetitive in nature, whether the credit union was negligent, and any other supporting data or extenuating circumstances, as discussed above. If a penalty is levied, NCUA indicates that there is room for negotiation, but that any such negotiation must generally be handled through NCUA’s Office of General Counsel and/or the Office of Examination and Insurance.

  [ Return to Top ]

Compliance calendar and training

Compliance Calendar

September 16

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
SECUF launches new Facebook page

The Southeastern Credit Union Foundation (SECUF) Facebook page is now online. The SECUF Facebook page will house information and conversations about the charitable arm of the League and credit unions. Through social media, the SECUF can reach a larger number of credit unions and members. It's important that credit unions "like" the page so they can join in on the conversation and share the wonderful things they are doing in their community. Currently, the page is housing a conversation about Miracle Jeans Day coming up Sept. 14.

For those credit unions that have already "liked" the LSCU Financial Literacy Outreach Program Facebook page, it will be housed under the new foundation Facebook page. According to Facebook statistics, more than 700 billion minutes per month are spent on Facebook, just think of the reach credit unions will have as they share information throughout the week. The foundation is committed to generating conversations and information about giving such as Children's Miracle Network, financial literacy, and scholarships. 

 If a credit union would like more information about the SECUF, contact SECUF Excecutive Director, Amber R. Tynan at 866.231.0545, ext. 1154. [ Return to Top ]

Credit uninos are asked to vote on 2012 Youth Challenge theme

The National Credit Union Youth Week has gone from idea, to voting. Credit unions were asked to submit theme ideas for 2012. Six ideas have been selected as finalists for the National Credit Union Youth Week theme.

The six theme finalists are:

  •     Millionaire for a lifetime
  •     Shape up your savings
  •     Groovin' with my credit union (1960s and 1970s)
  •     Strike gold at the credit union (gold rush)
  •     Be a super saver
  •     iMatter, iSave, iAm a Member

Voters are asked to rank the ideas in descending order. National Credit Union Youth Week is April 22-28. April is National Financial Literacy Month. A National Youth Saving Challenge will run the entire month. Credit unions can participate for a week or the entire month.

To vote for one of the six themes, go to the CUNA story and follow the link to the Youth Week Survey.

  [ Return to Top ]

Education News
2011 LSCU Development Conference registration is open

2011 LSCU Development Conference

Registration Open: Sept. 1
Date: Nov. 1 - 4
Cost: $545/attendee early bird registration; $575 after Sept. 30
Location:
Grand Hotel Marriott Resort, Golf Club & Spa - Point Clear, AL

CEOs, executive management, and directors won’t want to miss this opportunity to network and learn! The Development Conference will be held at the beautiful Grand Hotel Marriott Resort, Golf Club & Spa, and provides a mix of relevant education sessions, motivational speakers, and fun networking activities, including a golf tournament. Attendees will also have the opportunity to interact with industry leaders during the exhibitor showcase.

Speakers include:

Bill Cheney, CUNA president/CEO
Herb Yolles, NCUA Region III director
Elizabeth Vale, Consumer Financial Protection Bureau assistant director, community banks and credit unions
Mark Meyer, Filene Institute CEO
John McKechnie, Total Spectrum partner, former NCUA public and congressional affairs director

For more information about this year's LSCU Development Conference, click here.

[ Return to Top ]

LSCU Regulatory Compliance Updates only two weeks away

LSCU Regulatory Compliance Updates

Tuesday, Sept. 13
LSCU Annex, Tallahassee, FL
Registration: $259/person

Wednesday, Sept. 14
Birmingham Marriott, Birmingham, AL
Registration: $259/person
Room Rate: $139.00 night
Room Rate Cutoff: Tuesday, Aug. 30

Agenda:             
8:30 a.m. – 9 a.m.       Registration
9 a.m. – 4 p.m.             Regulatory Compliance Update
12 p.m. – 1 p.m.           Group Lunch

Speaker: Todd Sherpy
R. Todd Sherpy is a founding partner with the law firm of Sherpy & Jones, P.A. The firm is dedicated to serving all legal needs of credit unions; and provides day-to-day compliance, compliance auditing, training, and consulting services to credit unions throughout the country. Todd serves as General Council to the South Carolina League, and consults with several other credit union leagues on a regular basis.

Some comments from last year’s Regulatory Compliance Update attendees:

  • “Todd’s knowledge is vast. Everything he spoke of was relevant to my credit union."
  • “Very well done! Comments were to the point and insight was very useful in the real world. Exceeded my expectations.”
  • “Todd’s presentation is very insightful and he reviews actual hot topics in terms everyone can understand.”

For questions, send an email to education@lscu.coop or call 866.231.0545, ext. 2129.

Cancellation Policy: All cancellations must be in writing and received five business days prior to the event. No refunds will be issued after this date. Substitutions are welcome. [ Return to Top ]

Education Calendar

Upcoming Events:

Tuesday, August 30
New Security Officer Training
3 - 4:30 p.m. EST - webinar

Wednesday, September 7
Understanding Endorsements: Authority, Restrictions, Minors & More
3 - 4:30 p.m. EST - webinar

Thursday, September 8
Consumer Lending Series: Developing Global Cash Flow from Personal Tax Returns
3 - 4:30 p.m. EST - webinar

Click here to view complete calendar of events.

[ Return to Top ]

LEVERAGE News
Upcoming Ventelligence ePurchasing event

For those credit unions with contracts coming due or in need of equipment, taking part in a LEVERAGE ePurchasing event will more than likely save them from their previous purchases.

The upcoming LEVERAGE ePurchasing events are as follows:

  • Computers / Printers / Toner: Mid / End of August – Require specifications ASAP
  • Armored Car Services: Beginning of September – Require specifications by beginning of August
  • ATM Machines / Maintenance Services: End of October – Require specifications by end of Sept.

For questions on ePurchasing events, contact LSCU Director, ePurchasing Lori Vary at 941.747.9646.

[ Return to Top ]

Receive 100 percent of your marketing potential for 2012 with Sprint

Sprint ahead and complete the promotional agreement by Aug. 31 to ensure your eligibility to receive 100 percent of your marketing incentive potential for 2012!  For more information on the Sprint Member Services Program or to sign up, click here to view the contract. If you are currently on the program and want to renew for the upcoming year, click here.

For more information, contact a Business Development Consultant today.

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CUNA Mutal Group adds to its compliance resources with new hire

As CUNA Mutual Group Compliance Manager, Lending Service Products, Anneke Diem will focus on lending and deposit laws and regulations, and the resulting compliance challenges facing credit unions.

“Regulatory compliance issues in credit union lending will only continue to increase over the next few years.  Strengthening our staff with the addition of Anneke Diem allows us to do more to help credit unions navigate through these complex compliance issues,” said Bill Klewin, director of regulatory compliance at CUNA Mutual. “Her experience representing community banks will help us enhance the advice and resources we provide to credit unions.”

This new position represents CUNA Mutual’s ongoing commitment to helping credit unions manage their lending business in a challenging compliance environment.

Most recently, Diem served as an associate attorney in the Corporate Services Group of Quarles & Brady, LLP in Chicago. She worked directly with financial institutions on regulatory compliance matters, capital raising and strategic acquisitions and dispositions. Diem was named an Illinois Super Lawyers Rising Star for each of the last three years.

Diem earned a law degree from the University of Washington School of Law.  She also attended the University of Iowa where she earned a bachelor’s degree in Business Administration.

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News from You
CFE FCU recognized as top 20 company for working families in 2011

Front row left: Linh Dang, senior vice president, member services; Frances Waters, manager, human resources; Mary Lynn Williams, board chair; Joseph A. Melbourne, Jr. president & CEO; James Wilson, board director; and Kevin Dougherty, senior vice president, information services. Back row: Robert Kindermann, vice president, human resources; Kevin Miller, senior vice president, general counsel; and Shirley Shoemaker, vice president, branch operations.

The Orlando Sentinel's Top 100 Companies were selected by an impartial panel of human resources professionals who based their evaluations on core benefits, family-related benefits, work environment, community involvement, communication, and training. 

“This great honor is truly a reflection of the quality of our staff, management team, and Board of Directors, said Joseph A. Melbourne, Jr., president/CEO of CFE Federal Credit Union. “Our employees are our greatest asset, and the primary reason why CFE has served Central Florida so well for nearly 75 years.” 

Also, during 2011, CFE received Outstanding Credit Union of the Year Award, the Dora Maxwell Social Responsibility Recognition Award, and the Louise Herring Award for Philosophy in Action from the League of Southeastern Credit Unions (LSCU). These awards were centered around CFE’s commitment to excellent service to members, financial literacy, and community involvement.

Additionally, the Osceola County School District recognized CFE as the 2010/2011 Business Partner of the Year based on support of their mission to serve students by providing the highest quality education possible. Along with sponsoring numerous programs to benefit the school district’s goals, CFE opened a branch at Poinciana High School and provides ongoing training for students to fully operate the branch that serves all students, faculty and staff at the school.
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ATCU kicks off 'Back to School!'

Each Alabama Teachers Credit Union (ATCU) office celebrated "Back to School Day" by offering school supplies, youth club shirts, DVD’s, coloring pages, and much more! This is the second year that ATCU has honored students by offering free school supplies and wishing each student good luck for their upcoming school year.

This year, some of the staff’s children volunteered to represent ATCU and handed out prizes to more than 100 youth members who participated. It was a great experience, and ATCU hopes to continue this tradition of welcoming students back to school! [ 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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