LSCU eSignal Weekly
LSCU eNews Weekly October 17, 2011
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LSCU eNews Weekly
In This Issue
President's Point
International Credit Union Day will present opportunities
LSCU Top Headlines
This week's top League headlines
Governmental Affairs News
This week in Alabama politics: Special session unlikely, contenders set for Dist. 45 House seat
This week in Florida politics: Budget woes continue, Vegas-style gaming talk heats up
News from the Hill: Overview of House subcommittee hearing on MBL
Compliance Corner
League InfoSight highlight: One week left to complete InfoSight User Survey
Compliance calendar and training
Cooperative Initiatives News
Save the date for 2012 SAS Workshops
Education News
LSCU, CUES developing content for 2012 League Education Calendar
Registrations steadily coming in for LSCU Development Conference
Education Calendar
LEVERAGE News
Upcoming ePurchasing events
News from You
Central Florida credit unions raise $11,300 for Children’s Miracle Network
Alabama Teachers CU announces new online financial literacy adventure for youth
EMPLOYMENT
View available credit union jobs
In This Issue
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President's Point

International Credit Union Day will present opportunities

International Credit Union Day is this Thursday, Oct. 20. It’s a great time for all of us to celebrate the credit union difference and the unique experience we provide our members. I know many of you will be holding your own celebrations for staff and members alike at your branches.

The International Credit Union Day of celebration has been around since 1948. Imagine what that first celebration day must have been like 63 years ago. Members probably drove up to their credit unions in their Buick Roadmasters, Chevy Fleetmasters, or Ford Super Deluxe. Most of the members that stopped by that day were from factories, local units of governments, or schools. Every Christmas when I watch “It’s a Wonder Life” staring Jimmy Stuart, I think of what it must have been like running a credit union in this bygone era.

Today our celebrations will include websites, Twitter, and Facebook. We have come a long way from our meager beginnings in a cigar box on that factory floor. However, our not-for-profit member-owner philosophy of “People Helping People” lives on and still provides a beacon of hope for over 90 million Americans who otherwise might not have access to affordable financial services. 

The past two weeks have certainly shown us what can happen when financial institutions customer needs are not met. Credit unions are getting unbelievable exposure right now. CUNA estimates that more than 120 media outlets have written stories about angry bank customers looking to move their money. We’ve heard from some credit unions that they have shifted the focus of their marketing to take advantage of this opportunity. The Statewide Image Campaign hit the air at the exact right time to help spur some of these customers to call their local credit unions and inquire about moving their money.

This leads me back to Thursday and International Credit Union Day. While many staff and members will enjoy the celebration, I’m sure there will be new faces walking into all of your branches. Spurred just enough by the new bank fees, that they will be “test driving” the local credit union. I encourage all of you to take part in International Credit Union Day. CUNA has many resources available to get you started. There are web banners for your website, printable coloring pages for kids, as well as many other ideas. One great idea is to tie in the celebration with Halloween to offer members a safe Halloween alternative.

We all work in the credit union model because we love what we offer our members. When they walk through the door, they feel it. As we celebrate our heritage this week, remember that many new potential members will be stopping by. This could be as important as any International Credit Union Day celebration that you have ever put on.

I welcome your thoughts and feedback. [ Return to Top ]
LSCU Top Headlines
This week's top League headlines

C-SPAN features CU benefits via CUNA interview
In a 40-minute segment on C-SPAN's Washington Journal, CUNA Chief Economist Bill Hampel on Tuesday discussed the many benefits credit union membership brings consumers, among other issues currently facing credit unions. Click here to read more.

Media Loving Credit Unions
CUNA estimates that more than 120 media outlets have produced stories about angry bank customers looking to move their money to credit unions. CUNA President/CEO Bill Cheney was a guest on CNBC's Squawk Box, while many local outlets in Miami, Huntsville, Tampa, Dothan and Tallahassee have talked to local credit unions. You can read and see the stories in the LSCU Press Room.

LSCU wins two CUNA Pro and Blockbuster Awards
The LSCU was one of only four leagues to win more than one CUNA Pro and Blockbuster award. Click here to read more.

CUNA Regulatory Report
Take a look at this week's CUNA Regulatory Report which highlights the CFPB's release of the new Supervision and Examination Manual, the proposed plan to improve financial accounting for non-public entities, and Bank Secrecy Act Advisory Group meeting. Click here to read the full report.

NCUA Annual Report
The National Credit Union Administration recently released its annual report with the title "Resilience and the Road Ahead," highlighting the progress of credit unions in the last year. Read the report by clicking here. [ Return to Top ]

Governmental Affairs News
This week in Alabama politics: Special session unlikely, contenders set for Dist. 45 House seat

Just a week ago, legislative leaders from Jefferson County and some of Alabama’s highest elected officials were holding out optimistic hope that an agreement would be made, and a special legislative session called to deal with the Jefferson County sewer debt issue. However, those leaders and Gov. Robert Bentley are much less optimistic now, even saying that an agreement is not going to happen any time soon. There is still time to come up with a viable option for Jefferson County that will not include declaring bankruptcy, but unless significant progress is made, the two sides are miles apart.

Special Election Results for House District 45
On Tuesday, Oct. 11, the Republican run-off election was held to see who will face Paige Parnell (D) in the special election to replace Rep. Owen Drake (R-Leeds) who passed away earlier this year. Dickie Drake (R), the late Owen Drake’s brother, defeated Irondale mayor Tommy Joe Alexander (R) 53 percent to 47 percent.

The general election between Paige Parnell and Dickie Drake will be held on Tuesday, Nov. 29, 2011.

For questions regarding legislative affairs issues in Alabama, contact LSCU Director, Legislative Affairs Jason Cochran at 866.231.0545, ext. 2159. [ Return to Top ]

This week in Florida politics: Budget woes continue, Vegas-style gaming talk heats up

LSCU Legislative Issues:

With just two-and-a-half months left until session, the Legislature will focus mainly on redistricting issues so that the legislative and congressional maps will be ready for approval early in the 2012 session. The LSCU Governmental Affairs team continues to meet with legislative leadership to help move credit union priority issues. Remaining committee weeks include: Oct. 17, Oct. 31, Nov. 14, and Dec. 5. The 2012 Legislative Session begins on Jan. 10 and is scheduled to run through March 9.

Grassroots Activity
As the 2012 Legislative Session moves closer, it remains important for grassroots advocates to do their part in helping the credit union movement go forward. Planning Chapter Legislative Nights, in-district meetings with your legislators, emails, letters, or phone calls all make a difference. The Governmental Affairs team is here to help you plan all 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:

Florida Budget Woes Will Continue
Earlier this year, Florida’s economists predicted that there would be a slight budget surplus in 2011, a change from previous years where lawmakers were faced with filling the holes of a multi-billion dollar deficit in order to balance the budget. Last week, the economists met, and it appears no such surplus will exist. They remain “cautiously hopeful” that Florida will avoid a second recession, yet a $1.3 billion budget deficit is expected. While there is still work to be done in order to reach that balanced budget, as required by the constitution, it is clear progress is being made. Last year, lawmakers were faced with a nearly $4 billion deficit. The deficit means that there will be at least $1.3 billion less to spend this year than there was for the 2011-12 budget when the Legislature appropriated $69 billion.

Vegas Baby? No, It’s Florida!
Florida continues to look at ways to plug the budget holes and several lawmakers believe bringing full-scale, Vegas-style gaming to Florida is the way to do it. However, if Florida is going to be home to Vegas-style casinos, it has also needs Vegas-style gaming regulations, according to the authors of a massive bill to bring resort casinos to South Florida. That includes creation of a state gaming commission and a rule that casino operators give the state access to almost everything – including accounts at financial institutions, marital records, safe deposit boxes, computers, and even their homes. Click here for the complete Florida Politics Week in Review.

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

News from the Hill: Overview of House subcommittee hearing on MBL

House subcommittee holds hearing on MBL
Last week, the House Financial Services Committee Subcommittee on Financial Institutions and Consumer Credit held a hearing on the member business lending bill, H.R. 1418, the Small Business Lending Enhancement Act. 

NCUA Chairman Debbie Matz testified on the first panel, endorsed the legislation and explained how the bill could enhance credit union safety and soundness and help small businesses. Chairman Matz handled many questions regarding credit union stability, loan demand, and the ability to maintain the safety and soundness of credit unions while expanding their business lending portfolios. Chairman Capito (R-WV) questioned Matz on whether credit unions engaged in business lending were turning down loans as a result of the cap and what would be an appropriate cap. Matz suggested there should be no cap and that credit unions should continue to diversify their lending portfolios to strengthen safety and soundness while fulfilling the credit union mission to serve their members.

The second panel included California’s Coasthills Federal Credit Union President/CEO Jeff York, who testified on CUNA’s behalf, and witnesses from NAFCU (Gary Grinnell of Corning CU, Corning, NY), Independent Community Bankers Association, American Bankers Association, and the Massachusetts Share Insurance Corporation. The League and CUNA are extraordinarily proud and appreciative of Mr. York’s performance in front of the subcommittee. Mr. Grinnell also did an excellent job of addressing these issues.

Jeff focused on small businesses and the impediments the artificial cap has on business lending at credit unions. Citing the creation of 140,000 new jobs and $13 billion into local communities, he was steadfast in his messaging on creating American jobs. Reps. Luetkemeyer (R-MO) and Hinojosa (D-TX) engaged in aggressive lines of questioning regarding the credit union tax status and competitive advantage. Jeff vehemently defended the credit union charter and how credit unions serve their members. Click here to read the complete News from the Hill Update.

For questions about the News from the Hill update, contact LSCU SVP, Governmental Affairs Will McCarty at 866.231.0545, ext. 2137. [ Return to Top ]

Compliance Corner
League InfoSight highlight: One week left to complete InfoSight User Survey

The current edition of the League InfoSight newsletter covers the final week to complete the 2011 InfoSight User Survey. Have you completed it yet?

More than 300 InfoSight users have shared their opinions by completing the 2011 InfoSight User Survey. Have you? You still have time to share your thoughts about InfoSight. The InfoSight User Survey is available online through Oct. 21, 2011.

If you haven’t done so already, we encourage you to take some to complete the survey—and help us make InfoSight a more useful resource for you.

To fill out the user survey, visit the latest 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.

  [ Return to Top ]

Compliance calendar and training

Compliance Calendar

October 2011

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

    *Note - To view InfoSight content, it is required to log in to www.lscu.coop for access.

    [ Return to Top ]

    Cooperative Initiatives News
    Save the date for 2012 SAS Workshops

    The LSCU Cooperative Initiatives Department will present two Small Asset Size Credit Union Workshops in February 2012. The first workshop is scheduled for Feb. 7 and will be held in Tampa, FL at Suncoast Schools FCU. The second workshop is set for Feb. 9 in Birmingham, AL at APCO Employees Credit Union. The registration fee for each workshop is only $79.

    “The small credit union workshops were very well received in 2011,” said LSCU VP, Cooperative Initiatives Laura Vann. “We will be asking our small credit unions for feedback and will design workshops that meet their needs.” [ Return to Top ]

    Education News
    LSCU, CUES developing content for 2012 League Education Calendar

    (L to R) LSCU Events Coordinator Brandy Norvell, LSCU Director, Events Julianne Talley, CUES VP, Marketing and Professional Development Christopher Stevenson and LSCU, Association Services Chief of Staff Cassandra Grayson.

    Stevenson and CUES are working with the LSCU to develop the CU Executive Dialogue, Feb. 2-3, 2012 in Bonita Springs, FL, as well as curriculum for 2012 League educational events.


    [ Return to Top ]

    Registrations steadily coming in for LSCU Development Conference

    Attendance is steadily climbing for the LSCU Development Conference, coming up Nov. 1-4 at the Grand Hotel Marriott Resort, Golf Club & Spa in Point Clear, Alabama. Early bird registration was a hit as more and more credit union representatives signed up to attend over the last few weeks. If you haven't registered for the conference, it's not too late!

    Top-notch conference speakers include:

    • Consumer Financial Protection Bureau Assistant Director for Community Banks and Credit Unions Elizabeth Vale
    • CUNA President/CEO Bill Cheney
    • NCUA Region III Director Herb Yolles
    • Former NCUA  Director of Public and Congressional Affairs John McKechnie
    • Filene Research Institute Chief Research Officer George Hofheimer 

    Education breakout sessions including Strategic Issues related to Growth, Marketing Financial Services, Climbing back from the Financial Crisis, and Financial Literacy training. The Volunteer Achievement Program (VAP) will hold three sessions: CEO and Board Succession planning, Understanding Audit Reports and Asset Liability Management for Directors. For more information, including speaker and session information, click here.

    The conference kicks off with a golf outing benefiting the LSCU PAC with a charity match to the Children's Miracle Network. There is also two guest off-site tours - Sunrise Sailboat Cruise and a tour of the Bellingrath Gardens and Home with a luncheon. 

     To register for the conference, visit the Development Conference web page under Education on the LSCU website at www.lscu.coop. Attendees are encouraged to reserve their rooms right away.

    If you have questions, contact LSCU Association Services Support Specialist Becki Payne at 866.231.0545 ext. 2129.
      [ Return to Top ]

    Education Calendar

    Upcoming Events:

    Tuesday, October 18
    BSA Training - Muscle Shoals, AL
    9:30 a.m. to 12:30 p.m. EST - Morning Session
    1:30 to 4 p.m. EST - Afternoon Session

    Tuesday, October 18
    Compliance from a Distance: Managing Risk of Third Parties & Outsourced Processes
    3 to 4 p.m. EST -Webinar

    Monday, October 24
    SECUF Community Development Workshop
    8 a.m. to 4:30 p.m. EST
    GTE FCU -Tampa, FL

    Click here to view complete calendar of events.

    [ Return to Top ]

    LEVERAGE News
    Upcoming ePurchasing events

    A number of group buying events will take place in the upcoming months. 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 credit union specifications due date:

    • Armored Car Services - 10/18/11
    • Security Services - 11/11/11

    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 we will be conducting 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 LEVERAGE to participate in an any of these upcoming events. [ Return to Top ]

    News from You
    Central Florida credit unions raise $11,300 for Children’s Miracle Network

    Eddie Sanabria, CFCCU Treasurer, presenting donation to Brittany Moro from Orlando Children's Miracle Network.

    The Central Florida Chapter of Credit Unions held its annual charity golf tournament at Timacuan Golf & Country Club in Lake Mary on Friday, September 23, 2011. The tournament kicked off with the AXIS Golf Ball Drop, one of the most spectacular golf ball drops of the year.  A hot air balloon flew above the driving range and dropped numbered balls over the hole below. AXIS Orlando offered a $1,000 prize to be awarded to the person with the winning raffle number that matched the number on the ball dropped closest to the pin.  The $5,650 proceeds from raffle ticket sales are donated to the Children’s Miracle Network and will be matched for another $5,650 by Co-Op Financial Services through its Miracle Match program.

    Click here for more information. [ Return to Top ]

    Alabama Teachers CU announces new online financial literacy adventure for youth

    Alabama Teachers Credit Union (ATCU) recently announced the availability of MoneyIsland, an educational and entertaining online world that helps tweens ages eight to fourteen in three key financial areas: saving and spending, earning and investing, and using credit wisely. Kids go on adventurous quests to exotic destinations, while becoming financial gurus along the way. Meanwhile, parents and teachers have access to an administrator tool where they can track progress and assist in the learning experience.

    Financial literacy is at an all-time low in the United States, which means many children are not receiving the knowledge and skills needed for a successful future. Fortunately, the general public is becoming more aware of the problem. In fact, research shows that 91 percent of parents are interested in providing a better financial education for their kids. But parents need a solution that imparts the right lessons in a way they are not always able to provide. That’s where ATCU helps with MoneyIsland.

     “As an active member of our community, a big part of our responsibility is helping at the local level, and educating kids about money-management is a great way to make an impact,” says Charly Young, head of research and development at ATCU. “Offering MoneyIsland helps parents and teachers address an important challenge for the children of our community and instill lifelong financial literacy lessons."  [ 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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