LSCU eSignal Weekly
LSCU eNews Weekly September 19, 2011
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LSCU eNews Weekly
In This Issue
LSCU Headlines
President's Point
Southeast Corporate signs letter to merge with Corporate One
Ads in Capitol Hill pubs promote member business lending bills
Image Campaign participants: Utilize available resources to leverage from campaign; order your Image Campaign shirts TODAY!
Tax-exemption and Form 990
LSCU and CUES partner on educational opportunities
Credit union chapter bylaws approved
LSCU staff raise more than $2,500 for CMN hospitals with Miracle Jeans Day
Governmental Affairs News
Credit unions gain access to legislators with LSCU 'Hike the Hill'
News from the Hill: Busy week includes Hill visits from credit unions
Compliance Corner
League InfoSight highlight: 2011 InfoSight User Survey
Compliance calendar and training
Cooperative Initiatives News
Birmingham Chapter donates $2,500 to Children's Hospital of Alabama
Learn how to better serve your community with SECUF Community Development Workshop
Help underserved population learn to save and build wealth in Alabama
Education News
LSCU Councils to hold webinars in October
Early bird registration for Development Conference ends September 30
Attendees gain insight from LSCU Regulatory Compliance Update
Prepare for Bank Secrecy Act Training in October
Education Calendar
LEVERAGE News
Upcoming money-saving, group buying events
News from You
Insight CU volunteers build a stronger community
FSU CU holds grand opening for new university branch
EMPLOYMENT
View available credit union jobs
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LSCU Headlines

President's Point

As you read this, a delegation of credit union officials from Alabama and Florida are in Washington, D.C. for the LSCU’s annual Hike the Hill grassroots lobbying trip. Our visit comes at a good time since Congress is considering legislation to create jobs, stimulate the economy and deal with deficit reduction. We will be talking to our federal lawmakers about raising the member business lending cap, as well as preserving the tax exemption, among other topics.  

Some may be wondering why the League is holding its Hike the Hill the same week as the NAFCU Congressional Caucus.  We are not in DC this week to upstage NAFCU’s event, but to coordinate Hill visits among all Alabama and Florida credit union officials to ensure the greatest impact and right message is being conveyed to lawmakers and their staff. Plus, as a movement, we could do more harm than good if one group meets with our lawmakers one day and then another meets with them a day or week later with a completely different message. We have set up the Congressional visits and put together materials for the visits. Elected officials respond to numbers. It’s a fact of grassroots lobbying. I think you would agree that if we fill each of our members of Congress’ offices with credit union officials, the greater the impact will be. Additionally, of all the credit union officials that are in town from Alabama and Florida this week, only five are not CUNA/LSCU affiliated credit unions.

As I’ve written in the past and some of you have heard me speak of at numerous events, I think we need to break down some of the old walls that have divided us as an industry and build bridges; if it’s in the best interest of credit unions and the movement as a whole.  The third-quarter edition of Signal magazine will be in your mailbox in a week or so. Our cover story looks at the need for a long-term vision for the credit union movement. In doing research for the article, we found that in 1976 there were 22,000 credit unions. Think about that, we grew the movement to 22,000 credit unions in the first 68 years. However, in the last 35 years the number of credit unions has shrunk to 7,600. In my mind, we can’t continue to operate with these divisions within our movement and be effective advocates to move the industry forward.

Another example of industry collaboration was the announcement the LSCU made last week of a partnership with CUES. The partnership will help the League offer a more robust educational calendar by gaining input from CUES on curriculum and content development through a consulting contract. The LSCU and CUES will also work together on a roundtable for CEOs and credit union executives in February in Florida. This partnership makes perfect sense for credit unions in Alabama and Florida since CUES already holds many events in both states and has a great following through its Alabama and Florida CUES Councils. This partnership does not mean the League will not market CUNA events or stop working with CUNA  on educational offerings. In fact the CUNA/League partnership has never been more important and the LSCU is committed to working with Bill Cheney and his team to make it stronger and more effective.

This week when we visit our Congressional delegations, it’s important that they understand our position on a number of issues that will help us better serve our members. CUNA has done a great job of pushing the credit union agenda this year, so we will be able to have pointed conversations about raising the MBL cap and the credit union tax exemption while giving our legislators real world examples of how we serve our membership. These conversations are too important to send mix messages by not working with one unified voice. With a little bit of collaborative thinking, we can push our movement forward instead of worrying about how we will survive in the current economic environment. 

I welcome your thoughts and feedback.

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Southeast Corporate signs letter to merge with Corporate One

Southeast Corporate Federal Credit Union has signed a letter of intent to merge with Corporate One Federal Credit Union, based in Columbus, Ohio. Southeast Corporate President/CEO Brad Miller says that Southeast Corporate was looking for a partner that will “protect and preserve member capital, maintain continuity of services, and create long-term value for members.” He added that “Corporate One allows us to ensure these objectives are met.” Southeast Corporate and Corporate One have national fields of membership, with primary footprints in the Southeast and Great Lakes regions, respectively.

Southeast Corporate has been a trusted partner with the League of Southeastern Credit Unions (LSCU) for years. LSCU President/CEO Patrick La Pine asked credit unions to take a wait and see attitude toward the merger in his President’s Point for eSignal (Aug. 29). Now that a merge partner has been identified,
La Pine believes credit unions should see what Corporate One offers.

“Corporate One is a highly capitalized corporate. They have a very similar structure and philosophy as Southeast, so credit unions would have a seamless transition. It’s important now to get a closer look at Corporate One’s services are and how they fit within each individual credit unions’ goals.”

Southeast and Corporate One will now begin to do a full system and financial review. Following the review, a merger plan will be submitted to the NCUA. If approved, the merger would go to Southeast Corporate’s membership for approval. Lee Butke, president/CEO of Corporate One, sees a natural fit between the two corporates.

“This partnership provides for a financially stronger corporate, along with operational efficiencies that will create long-term value for both memberships. This is truly a winning combination.”

Southeast Corporate members were informed of the letter of intent through a webinar on Sept. 13. Miller says regional meetings will now be held for more dialogue on the proposed merger.

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Ads in Capitol Hill pubs promote member business lending bills

Advertising promotion of the passage of credit union member business lending legislation will begin running next week in Capitol Hill newspapers and the Washington regional edition of the Wall Street Journal.

Sponsored by CUNA, the ads focus on S.509 and H.R. 1418, pending in the Senate and House and feature business borrowers from credit unions. Listerhill Credit Union, based in Muscle Shoals, member Terry McDaniel's picture is in one ad. McDaniel is the business owner that was featured in the MBL radio ads earlier this month on seven Alabama radio stations. 

"With more than half of the states sending credit union delegations through their Leagues to Washington over the next six or seven weeks for ‘Hike the Hill’ visits, we have a significant opportunity to make a strong impact in support of these bills," said Richard Gose, CUNA senior president of political affairs. "The ads will work in tandem with the credit union representatives, as a reminder to members of Congress and their staff members of the importance of this legislation to credit unions."

The CUNA ad buy includes the major publications circulating on Capitol Hill – including Roll Call, Politico, The Hill, Congress Daily AM, Congressional Quarterly (CQ), and National Journal. The ad buy also includes the Washington regional edition of the Wall Street Journal.

The ad buy runs through parts of October.

There are two ads in the flight. The first is headlined “A jobs program both Republicans and Democrats can love,” the second, “With 58 bills to create jobs pending in Congress, only S509 and HR1418 would create 140,000 new jobs at no cost to taxpayers.”

For a PDF of the two ads, click here. [ Return to Top ]

Image Campaign participants: Utilize available resources to leverage from campaign; order your Image Campaign shirts TODAY!

Several creative pieces are available on the Image Campaign Resource web page that participating credit unions may incorporate to complement the ongoing media campaign. The following is available for credit unions' use:

  • logo with tag
  • logo alone
  • customizable vinyl banners (two sizes)
  • web banners (three sizes)
  • image campaign sticker
  • customizable lobby posters (two sizes)
  • customizable cash sleeve (teller envelope)
  • links for embedding TV commercial on your website and social media
  • credit union polo shirt (to be ordered through Office Depot)

The webpage is located on www.lscu.coop under the Communications tab. Click on Statewide Image Campaign and then, in the left column, click on Image Campaign Resources. This page is password protected, only accessible by the designated image campaign contact person at participating credit unions.

Several types of formats are provided for use. If needed, the league is available to help with any production needs or questions. Send an email to LSCU Director, Information Services Amy Jowers.

Image Campaign Golf Shirts:

Place your credit union's order today for the Image Campaign golf shirt. The deadline for the next batch order is Sept. 30. Visit the Statewide Image Campaign Resource webpage for the shirt order form. These shirts are also customizable with your credit union's logo embroidered on the sleeve. Available in men's and women's styles and sizes.

 


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Tax-exemption and Form 990

An assertion by the U.S. Internal Revenue Service (IRS) that some credit unions are no longer tax-exempt is "completely wrong" and something that CUNA and the League will work tirelessly on to set the record straight, inside and outside the credit union movement.

This is in response to recent action by the IRS in which it notified several state-chartered credit unions, and some federally chartered credit unions, that they would lose their tax-exempt status after their respective regulators failed to file Form 990 tax returns on their behalf.

Various state credit union regulators at one time filed Form 990 tax returns for all state-chartered credit unions under their jurisdiction, but that practice was stopped years ago.

CUNA sent a letter to IRS Commissioner Douglas Shulman and Director of Exempt Organizations Lois Lerner reminding  the IRS officials that state-chartered credit unions, which now file their own returns, have met their annual filing requirements and should remain exempt. CUNA  also emphasized that organizations that are tax- exempt under Section 501(c)(1) of the Internal Revenue Code, such as federal credit unions, do not have to file 990 forms or make those forms available for inspection.

Cheney said CUNA hopes the IRS issue "is simply a paperwork error." CUNA General Counsel Eric Richard added that CUNA's Regulatory Affairs staff "is on top of this development and pushing the IRS to correct its error as soon as possible." 

If your credit union receives one of these notices from the IRS, you can obtain a model response template for state chartered credit unions here.  Federal credit unions can get their model response template here. These are simply model policies and credit unions should review these drafts carefully and adapt them to their own facts and circumstances before using them. The League does not want anyone to inadvertently make a misstatement of fact to the IRS. The forms can also be found on the LSCU Regulatory Resources website.

For questions about Form 990 and the IRS, contact LSCU VP, Regulatory Affairs Bill Berg at 866.231.0545 ext. 1028 or Director, Compliance Scott Morris at ext. 2165.

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LSCU and CUES partner on educational opportunities

The League and the Credit Union Executives Society (CUES) entered into a partnership designed to enhance education and training for Alabama and Florida credit unions. The partnership will provide credit union CEOs, executives and directors more robust LSCU educational offerings as well as new jointly branded and executed events.

As part of the agreement, CUES will help enhance the LSCU’s current education calendar by providing curriculum and content expertise through a consulting agreement. The partnership will kick-off with the Credit Union Executive Dialogue Feb. 2-3, 2012 in Florida. The Dialogue is geared toward large-asset sized credit unions’ CEOs and their senior management who will come together to talk about current credit union issues of importance and opportunities for the future. Additionally, the LSCU and CUES will work together to identify and execute more educational events in 2012 and beyond.

“This partnership makes sense from a number of standpoints,” said LSCU President/CEO Patrick La Pine. “First and foremost, CUES is a recognized leader in the field of education and training for credit union executives and they have a great reputation in our marketplace. The LSCU is committed to providing best-in-class educational offerings for our member credit unions. Partnering with CUES will help us achieve this goal by leveraging CUES expertise while promoting collaboration, reducing costs and other redundancies.”

”Collaboration has been a major focus of the CUES board’s strategy,” said CUES’ Chairman of the Board Frederick Healey. “We are proud to combine our efforts with the LSCU. Their supreme level of commitment and support to their members and the movement is undeniable.”

“This partnership is groundbreaking for CUES and the LSCU,” said Fred Johnson, CUES president/CEO. “There is no better way to serve the industry than to utilize the strengths of two organizations dedicated to meeting its needs.”

The partnership includes LEVERAGE, the LSCU’s service corporation, providing expertise on business topics such as compliance and e-purchasing. This will help CUES offer a more robust archive of information for credit unions. The Center for Credit Union Board Excellence (CCUBE, Powered by CUES, will benefit from the partnership as the LSCU and LEVERAGE will provide resources to CCUBE to help enhance learning opportunities for volunteers and CEOs.

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Credit union chapter bylaws approved

All 20 Alabama and Florida chapters have now adopted the Standard Chapter Bylaws, developed by the Chapter Bylaws Working Group and approved by the LSCU board. Following consolidation of the Alabama and Florida Leagues, it was necessary to develop new bylaws to reflect the relationship of the chapters with the new League of Southeastern Credit Unions. Some of the chapters had not revised  their bylaws in over 30 years. The Chapter Bylaws Working Group developed the Standard Chapter Bylaws to provide operational direction for the chapters

Members of the Chapter Bylaws Working Group were Paul Numbers, State Employees CU (Northeast FL Chapter); Joe Alicea, PBC CU (Palm Beach Chapter); Pam Griffith, Railroad & Industrial CU (Tampa Chapter); June Landrum, Alabama CU (Northeast AL Chapter); Michele Willis, Legacy Community FCU (Birmingham Chapter); and Deborah McRae, Five Star CU (Wiregrass Chapter)

For questions about the new chapter bylaws, contact LSCU VP, Cooperative Initiatives Laura  Vann at 866.231.0545 ext. 2181.

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LSCU staff raise more than $2,500 for CMN hospitals with Miracle Jeans Day

The League of Southeastern Credit Unions staff did their part in contributing to help make Miracle Jeans Day a success. The two League offices combined to raise $1,270 with 100-percent participation from multiple departments.

The Alabama office raised the most money with a total of $680, proving just how close the internal competition was! Through the League’s efforts to fund-raise in both offices, many stories from staff indicate that they have been impacted personally by children being treated in Children’s Miracle Network (CMN) hospitals.

The Southeastern Credit Union Foundation matched the funds the League offices raised to set a standard for their dedication not only to the cause, but to staff and their families that have been impacted by CMN. The League’s final fundraising total was $2,540.

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Governmental Affairs News
Credit unions gain access to legislators with LSCU 'Hike the Hill'

On Monday, the League began a three-day process of advocating for credit unions in the Southeast with its annual Hike the Hill to Washington, D.C. This is an important visit for credit unions. It's not just a chance to meet and talk with legislators face-to-face, but a time for all of us to discuss issues like member business lending and the credit union tax exemption.

The League works hard to highlight issues important to credit unions, and the annual Hike the Hill event seeks to engage credit unions, as well as lawmakers. Promoting grassroots political action is essential to the credit union movement. The voice of credit unions in Washington is also crucial in providing relevance to issues, and keeping credit unions visible to legislators. 

For a look at the week's Hike the Hill agenda, click here.

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News from the Hill: Busy week includes Hill visits from credit unions

Congress will have a full week of committee and subcommittee meetings. All of the offices of Congressional members of Alabama and Florida will also see credit unions this week as the League's annual Hike the Hill is Sept. 19-21. As many as six other leagues are also making Hill visits this week. 

The House returns to work Tuesday and will take two days to consider bills under suspension of the rules. The balance of the week will be used to consider a continuing resolution to fund the government through Nov. 18 and H.R. 2401, the Transparency in Regulatory Analysis of Impact on the Nation Act. The continuing resolution is expected to also extend the authorization for the National Flood Insurance Program until Nov. 18.  

The Senate returns Monday and will vote on a motion to invoke cloture of on a bill that would limit duties on products coming from developing countries. Later in the week, the Senate is expected to consider the continuing resolution after it has been passed by the House.

 Committee Schedule 

On Tuesday, the Senate Budget Committee will hold a hearing entitled, “Promoting Job Creation in the United States.”  Former Federal Reserve Vice Chairman Alice Rivlin, former director of the Office of Management and Budget, former director of the Congressional Budget Office, and current director of greater Washington research at The Brookings Institution; J.D. Foster, senior fellow in the economics of fiscal policy at The Heritage Foundation; and Harry Holzer, professor of public policy at Georgetown University, are expected to testify.

In addition to the Budget Committee hearing, the League and CUNA will be following hearings in the Senate Banking Committee and the Joint Economic Committee. The hearing in the Banking Committee’s Subcommittee on Housing, Transportation and Urban Development is entitled, "New Ideas to Address the Glut of Foreclosed Properties."  Allan "Dutch" Dechert, president of the New Jersey Association of Realtors; and Bob Nielsen, chairman of the board of the National Association of Homebuilders, are expected to testify. The Joint Economic Committee will hold a hearing on the effects that the Federal Debt may have on the U.S. economy.  Allan Meltzer, professor of political economy at the Carnegie Mellon University; Chris Edwards, director of tax policy studies at the Cato Institute; and Laurence Bell, professor of economics at Johns Hopkins University are expected to testify.

On Wednesday, the League and CUNA will be following hearings in the House Financial Services Committee and House Ways and Means Committee and a markup in the Senate Energy and Commerce Committee. In Financial Services, the Subcommittee on Capital Markets and Government Sponsored Enterprises will hold a hearing on "Legislative Proposals to Facilitate Small Business Capital Formation and Job Creation." CUNA will likely send a statement for the record of this hearing. The Ways and Means Committee hearing will focus on the variety of economic models used by the Joint Committee on Taxation to analyze and score tax reform legislation. The Senate Energy and Commerce Committee is expected to markup pending legislation, including S. 1207, the Data Security and Breach Notification Act.

Thursday is a busy committee day. The Joint Committee on Deficit Reduction is expected to hold a hearing entitled, “Overview: Revenue Options and Reforming the Tax Code." Thomas Barthold, chief of staff of the Joint Committee on Taxation, is expected to testify. The League and CUNA will also be following hearings in the Senate Banking Committee and House Financial Services, and a markup in the Senate Judiciary Committee.    The Senate Banking Committee will hold confirmation hearings on the nominations of Alan Krueger to be a member of the Council of Economic Advisers; David Montoya to be inspector general of the Housing and Urban Development Department; and Cyrus Amir-Mokri to be assistant secretary of the Treasury Department.  The nominees are expected to testify.  In House Financial Services, the Subcommittee on Financial Institutions and Consumer Credit will hold a hearing on the availability of credit products for consumers who may not have access to services provided by traditional financial institutions. The Senate Judiciary Committee is expected to resume consideration of pending legislation, including S. 1151, the Personal Data Privacy and Security Act, S. 1408, the Data Breach Notification Act, and S. 1535, the Personal Data Protection and Breach Accountability Act.

Last week, the Senate Judiciary Committee met to consider pending legislation, including S. 1151 and S. 1408. The committee approved amendments to S. 1151 that includes language that addresses some of the concerns that CUNA raised in the letter that was sent to the committee prior to the markup. Specifically, the Committee approved a substitute amendment offered by Chairman Patrick Leahy that would exempt institutions in compliance with Gramm-Leach-Bliley notification requirements from the data security and the data breach notification provisions of the legislation (the original version of this legislation only provided the exemption to the data security requirements).  A copy of the letter that CUNA sent to the committee can be found here.  Improvements to the legislation will be sought as it moves through the process.  

For questions about current legislation, contact LSCU SVP, Governmental Affairs Will McCarty at 866.231.0545 ext. 2137.

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Compliance Corner
League InfoSight highlight: 2011 InfoSight User Survey

The current edition of the League InfoSight newsletter has an article that includes a InfoSight User Survey, highlighting how credit union feel about the League InfoSight as a resource.

How does InfoSight meet your needs? What are things that should be included in it? Who else should have access to it?

We want to know! As we continue to develop and enhance InfoSight—Your Online Compliance Resource—it is important that we understand how you use it, what you need in it, what you like about it, and what you don’t like about it. The survey will be available through Oct. 21, 2011.

To complete the 2011 InfoSight User Survey, visit the current edition 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.

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Compliance calendar and training

Compliance Calendar

October 2011

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
Birmingham Chapter donates $2,500 to Children's Hospital of Alabama

The Birmingham Chapter of Credit Unions donated $2,500 to Children's Hospital of Alabama in Birmingham through the CU4Kids program. The contribution was made possible through proceeds raised at the Birmingham Chapter Golf Tournament.

Pictured from left to right: Sonja Purvis, Mutual Savings; Amber Tynan, SECUF executive director; Cayleigh Cummings, Children's Hospital of AL.


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Learn how to better serve your community with SECUF Community Development Workshop

Although there are many opportunities to serve the underserved in their community, many credit unions don't know the steps 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 at GTE Federal Credit Union (711 E. Henderson Ave., Tampa, FL) on Oct. 24. The workshop will cost just $15 with the fee covering 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
  • Highlight 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 more information about the Workshop visit the SECUF website, or contact SECUF Executive Director Amber Tynan at 866.231.0545 ext. 1154. [ Return to Top ]

Help underserved population learn to save and build wealth in Alabama

The Alabama Asset Building Coalition (AABC) kick offs its first regional meeting in the Central Region of Alabama. A roundtable luncheon will be held Thursday, Sept. 22 from 11:30 am -1:00pm at the Capital Commerce Building, 100 Capitol Commerce Boulevard, Montgomery, AL 36117.

AABC is a statewide nonprofit organized to promote financial stability for individuals and families. By encouraging savings, financial education and other wealth building programs, the coalition strives to build an economic foundation that will allow the underserved residents in Alabama to reach their highest potential and strengthen their financial future.

The coalition focuses on IDA’s, VITA and TCE Assistance Programs, Alliance for Economic Inclusion with the FDIC, Bank on Alabama and Freshman Forums for financial literacy for incoming college freshmen. It also works closely with Alabama Arise to advocate state and federal laws that support wealth building programs.

For more information on the roundtable luncheon, visit the AABC website.

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Education News
LSCU Councils to hold webinars in October

The LSCU Councils will hold their next meetings Oct. 12-13 via webinar. Credit unions have a great opportunity to take part in the Councils or try them out through the Fall Webinars. By offering a webinar series, the Councils cut down on credit union expenses and provide extra opportunities for more staff within the credit unions to all take part. 

The LSCU Councils are perfect for CFOs, HR, Lending, Operations, Technology, Sales and Service Professionals, as well as for Marketing & Business Development. While the topics for each webinar has not been finalized, credit unions are asked to save the dates below:

October 12, 2011

  • CFO Council - 9:30 to 11:30 a.m.
  • Lending Council - 12 to 2:00 p.m.
  • Technology Council - 2:30 to 4:30 p.m.
October 13, 2011
  • Operations Sales and Service Council - 9:30 to 11:30 a.m.
  • HR/Training and Development Council - 12 to 2:00 p.m.
  • Marketing & Business Development Council - 2:30 to 4:30 p.m.
Each LSCU Council session is $99 or multiple LSCU Council sessions are $149. Join the discussion about the LSCU Councils on Facebook. For more information on the LSCU Councils, contact LEVERAGE Director, HR Services/Executive Recruiter Lisa Hammock at 866.231.0454 ext. 1146.

The LSCU Councils are sponsored by:

 

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Early bird registration for Development Conference ends September 30

Don't miss the special savings for registering early for the upcoming Development Conference, November 1-4, 2011. The early bird registration fee is available through September 30.

Get inspired at a conference built for you! The LSCU Development Conference’s main focus is its attendees. The Grand Hotel Marriott Resort, Golf Club and Spa in Point Clear, Alabama, provides an exceptional backdrop for four days of first-class speakers, an intimate place to network, and educational breakout sessions from industry experts. Plus, there is plenty of exhibit hall time so you can talk with our exhibiting companies to find solutions to help your credit union. Don’t miss this exclusive event that will provide valuable information in a one-on-one environment!

For more information, including speaker and session information, click here

To register for the conference, visit the Development Conference web page under Education on the LSCU website at www.lscu.coop. [ Return to Top ]

Attendees gain insight from LSCU Regulatory Compliance Update

Attendees of the LSCU Regulatory Compliance Update in Birmingham and Tallahassee were impressed with  speaker/presenter R. Todd Sherpy. He spoke on topics such as Dodd Frank, Liability Protection Considerations, Due Diligence and many others.

Comments from Birmingham and Tallahassee were very complementary of Sherpy and the subjects covered.

“Engaging! I couldn’t write notes fast enough.”


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Prepare for Bank Secrecy Act Training in October

This workshop will train staff using completed forms of required BSA reports based on several common scenarios. Attendees will also hear about Bank Secrecy Act Program Oversight, Creation and Maintenance, Risk Assessment, Review of Currency Transaction Reports, Currency Transaction Report Exemptions, Filing Requirements, Technology and the Bank Secrecy Act plus much more.

This BSA Training class is appropriate for frontline staff, lenders, officials, managers, and compliance officers. The two and one half hour class incorporates a Currency Transaction Report workshop as well as a Suspicious Activity Report workshop in which completed forms are studied based on several common scenarios (focusing on narrative preparation).

October 13         
Tallahassee, FL
League of Southeastern Credit Unions, Annex
3773 Commonwealth Blvd.
Tallahassee, FL 32303

October 18         
Muscle Shoals, AL
Listerhill Credit Union
4790 East Second Street
Muscle Shoals, AL 35661

October 26         
Tuscaloosa, AL
Tuscaloosa VA Credit Union
3701 Loop Road East
Tuscaloosa, AL 35404

The registration fee for BSA is $75 per person, per session.

For more information or to register, visit the LSCU Education Events Calendar. [ Return to Top ]

Education Calendar

Upcoming Events:

Wednesday, September 21
Surviving Your FACTA Risk-Based Pricing Audit
3 to 4 p.m. EST - Webinar

Thursday, September 22
New FFIEC Guidance "Supplement to Authentication in an Internet Banking Environment" Effective Jan. 1, 2012
3 to 4 p.m. EST - Webinar

Tuesday, September 27
Identifying & Managing Data Leakage & Hacking Threats
3 to 4 p.m. EST - Webinar

Click here to view complete calendar of events.

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LEVERAGE News
Upcoming money-saving, group buying events

LEVERAGE is in the process of setting up specifications within the RFPs, and will request vendors to compete against one another in a live bidding environment during the upcoming months for the following commodities:

Commodity

ATM Machines & Maintenance Services
CU Specs Due 9/23/11, Live Event Date10/21/11

TCD Machines & Maintenance Services
CU Specs Due9/28/11, Live Event Date 11/02/11

Armored Car Services
CU Specs Due10/18/11, Live Event Date11/29/11

Security Services
CU Specs Due11/11/11, Live Event Date12/16/11

For each commodity listed above, at least one credit union, and in some cases several credit unions, have already elected to participate in the process. This includes the collection of due diligence from all competing vendors, as well as strategies that encourage vendors to reduce their pricing in a competitive environment.

There is no long-term contract commitment required to participate in any of these buying events. Purchasing details do not need to be identical to those of other participants, only specific to credit union needs, and credit unions remain in charge of making all decisions throughout every step of the process. Participation in a collaborative event typically yields much stronger savings results than an individual credit union making a single purchase.

Also, due to the rapidly approaching ADA compliance requirements deadline, the first ePurchasing event that will be conducted for 2012 is for ATM machines, and the tentative date is Jan. 14. Any credit union wishing to participate in this collaborative event must submit their requirements and specifications to their Business Development Consultant by Dec. 10, 2011.

Contact a LEVERAGE Business Consultant to participate in an any of these upcoming events.

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News from You
Insight CU volunteers build a stronger community

Left to Right: Jennifer Mendez, Branch Manager and Minerva Ferrer, Sales and Service Executive Donate Blood.

The blood drive event was held Tuesday, Aug. 30, at the WFTV Channel 9 studios in Orlando.

The Insight Inspire volunteers donated not only hours to help coordinate the event, but many also donated blood to help save lives in the community. With the hurricane season upon Central Florida, it’s important for the community to be prepared in case of an emergency, and a proper blood supply is crucial to our community.

Each year 9 Family Connection joins Florida’s Blood Centers, a not-for-profit organization that has been serving Central Florida for more than 65 years. Their lifesaving mission of collecting, processing, and distributing blood to those in need has a direct and immediate impact on your community’s health and welfare. To fulfill that mission, they employ 1,000 professionals in 21 counties serving more than 70 hospitals and medical facilities throughout the state. [ Return to Top ]

FSU CU holds grand opening for new university branch

On Sept. 12, Florida State University Credit Union  held a grand opening and ribbon cutting for its sixth branch near the campus of Florida State University. The branch will be open for business Monday through Friday from 9 a.m. to 5 p.m. and will offer lobby, drive-thru, and ATM services.

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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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