LSCU eSignal Weekly
LSCU eNews Weekly November 7, 2011
home button press room button contact us button
LSCU eNews Weekly
In This Issue
President's Point
Alabama, Florida credit unions approve of the job by the LSCU
LSCU Top Headlines
This week's top League headlines
Governmental Affairs News
This week in Alabama politics: Alabama court races may cost less, House Democrats plan agenda
This week in Florida politics: Grassroots activity heating up, MBL legislation adds co-sponsor
Tampa Chapter hosts Legislative Breakfast to meet with key legislators
Compliance Corner
League InfoSight highlight: Repossession and Sale of Collateral
Compliance calendar and training
Cooperative Initiatives News
Tickets now available for NCUF Wegner Awards Dinner
SECUF holds 1st Annual 'Putt with a Purpose' Golf Tournament
Education News
Cheney, Vale headline LSCU Development Conference
Education Calendar
LEVERAGE News
CMG risk consultant: adopt pin, chip technology now
News from You
ZumbaFest helps CFE FCU raise cash for 'A Gift for Teaching'
Items that your credit union could use?
EMPLOYMENT
View available credit union jobs
In This Issue
spacer
eNews Links
Forward to a Friend
Print Version
Unsubscribe from
LSCU eSignal Weekly
Be sure to follow LSCU:
Social Networking Links
Patrick La Pine on Twitter
eNews Links
spacer
President's Point

Alabama, Florida credit unions approve of the job by the LSCU

This past week I gave the welcome and opening remarks at our LSCU Development Conference in Point Clear, AL. Part of my presentation was highlights of our second annual members survey.  We conducted the survey in June/July and had a 42-percent response rate from our member credit unions. The results are clear, credit unions are seeing the difference the new League is making.

When we asked credit unions about their satisfaction with the LSCU, 92 percent of responding credit unions indicated that their satisfaction increased or stayed the same over last year. This is an increase of four percent from 2010. Additionally, 89 percent say that the promises of the consolidation of the Alabama and Florida Leagues are being realized. This is a 20-percent increase from a year ago. When you look at this number by asset size, there are significant gains across all asset sizes. When broken down by state, there is a 30-percent gain by Alabama credit unions and 11 percent by Florida credit unions.

We asked our credit unions about the job being done by the League staff. Ninety-eight percent feel our staff is responsive and 98 percent feel our staff is professional and knowledgeable. We’ve worked hard over the last two years to develop a culture of superior member service, and our credit union community is seeing and experiencing the LSCU difference. I’m proud of these gains because we are spending more time visiting credit unions and assisting them with their needs. This year we've made more than 700 face-to-face meetings with Alabama and Florida credit unions.

Almost across the board, our credit unions are seeing an even higher value from the LSCU. When asked if the League is a good value for its dues dollars, 92 percent said yes, a 15-percent increase from 2010. Ninety-three percent say the League is meeting their needs, an increase of five percent from last year. One-hundred percent of responding credit unions say the League keeps them well informed; a six-percent increase from 2010. These numbers show that we are more in tune with our credit unions and performing at a high level for them.

Advocacy always ranks high for credit unions when it comes to affiliation. Our numbers were very good last year and we’ve improved slightly on them this year. When asked if the LSCU does an effective job at the state capitols, 94 percent agreed it does; a two-percent increase from a year ago. We’ve added director of legislative affairs positions in both states, which has helped raise our profile in Montgomery and Tallahassee. As for advocating in Washington, D.C., 95 percent feel the League is doing a good job, a six-percent increase from a year ago. A good example of this was getting all four of our U.S. Senators to vote yes to delay the implementation of the Durbin Amendment. Just recently we added former CUNA and NCUA lobbyist John McKechnie to our advocacy team as an outside consultant to help us build and expand our influence with our congressional delegations.

Many more credit unions are looking to the League for regulatory and compliance help. Eighty-eight percent say League InfoSight is a useful tool; a 16-percent increase from 2010. While, 93 percent say the League is helpful with their compliance questions. This is a 20-percent increase from a year ago. The largest gains here were in Alabama where 24-percent more credit unions see the value of League InfoSight and as you would imagine, much of those gains are by our smaller credit unions.

This past year, the LSCU put a greater emphasis on the educational needs of our credit unions. We added more workshops and webinars in 2011and that translates to 89 percent saying that the League is meeting their educational needs, an increase of 18 percent from 2010. All of the workshops and webinars feature online registrations. Ninety-five percent of credit unions say the LSCU website is informative and useful; this is an increase of 19 percent from last year.

These are just a few of the highlights of the second annual members’ survey. You can see all of the results by visiting the LSCU Information for Credit Unions page. What these numbers show is that more credit unions are working with the League and looking to us for products and services. While the results of the survey show some great gains, we know we have more work to do but we are on the right track.
  
I welcome your thoughts and feedback.

  [ Return to Top ]

LSCU Top Headlines
This week's top League headlines

CUNA state estimates show member/deposit growth
CUNA completed its state estimates of member and deposit growth since Sept. 29 in the wake of Bank of America's $5 debit card fee and in advance of Bank Transfer Day that was on Nov. 5. Click here to see the state estimates.

Credit unions seize the moment in lieu of Bank Transfer Day
The wave of attention on credit unions came in large part thanks to Bank Transfer Day, a day that saw many credit unions take advantage of consumer displeasure with banks. Click here to read about what some credit unions did for BTD.

Harris poll shows consumers more comfortable with CUs
Harris Interactive recently conducted a poll on the consumer sentiment towards big banks and credit unions indicating that 87 percent of respondents are extremely or very likely to continue with a credit union, while only 58 percent intend to stick with a bank. Click here to see the Harris poll results. 

CUNA Regulatory Advocacy Report
This report covers issues being pursued by CUNA and the NCUA, the Consumer Financial Protection Bureau, as well as other agencies. Click here to read the report.

LSCU Members Survey shows League on the right track
Results from the recent LSCU Member Survey reveal that 92 percent of members say they’re satisfied with the League, and 89 percent say the consolidation promise is being realized. Click here to see survey results. [ Return to Top ]

Governmental Affairs News
This week in Alabama politics: Alabama court races may cost less, House Democrats plan agenda

Alabama’s Court Races May Cost Less Money
Alabama has long been known as a state where money is no object when it comes to winning a highly contested race on the Supreme Court. In 2006, the last time these seats were up for election, candidates spent $13.5 million for the ability to serve as a justice. Qualifying for the Republican primary began Nov. 4, and Dec. 3 is the start date for candidates on the Democratic ticket.

Five total seats will be up for 2012, four associate justices and the chief justice. If history is any indicator, the Democrats will need some big names in these races to come close to the record setting figure from 2006. Up to now, excluding former Chief Justice Sue Bell Cobb, the Supreme Court has been dominated by Republicans and that trend isn’t likely to change.

Alabama House Democrats Plan Legislative Agenda
House Minority Leader Craig Ford (D-Gadsden) announced the Democratic legislative agenda last week, and also stated that he has hopes of a few members to switch allegiances in order to make that agenda a possibility. Included in the agenda is removing the sales tax on groceries and over the counter medication, closing tax loopholes for out-of-state corporations, and repealing the recently passed rolling budget for education. 

House Speaker Mike Hubbard (R-Auburn) said that he will announce the Republican agenda in the coming weeks. It is expected it will center on job growth, education reform, and government efficiency. Charter schools and tax breaks for businesses will be talked about in 2012.

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: Grassroots activity heating up, MBL legislation adds co-sponsor

The Florida Legislature finished another interim committee week in Tallahassee as it moves toward the 2012 Legislative Session. Redistricting remained the focus of the meetings; however, budget concerns continue to permeate through each discussion. The LSCU Governmental Affairs (GA) team has kicked their session preparations into high gear as they work with leaders in both the House and Senate to advocate for credit union legislative priorities. There are only two remaining committee weeks, the weeks of 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.

The GA team will be rolling out the new grassroots advocacy system, VOCUS, very soon. Andy will be holding webinars for credit unions in the coming weeks to teach the grassroots network just how easy it will be to send communications to lawmakers on credit union issues. Please keep an eye out for information regarding VOCUS.

PAC Fundraising
The year is quickly coming to an end and Political Action Committee (PAC) fundraising remains a priority for the League. Andy Gonzalez has spent a lot of time on the road meeting with credit unions to discuss the importance of political giving and to help credit unions and chapters reach their goals. The LSCU is getting closer to its CUPAC goal of $250,000 for the year; however, the League is just halfway to its FEDPAC goal of $125,000. Please do not wait until the last minute to send your CUPAC and FEDPAC contributions in. Politics is a year-round process, and the LSCU needs your support in order to be part of that process.

Florida Political News:

MBL Legislation Adds Another Florida Co-Sponsor
Florida continues to make progress in educating Federal lawmakers on the importance of raising the cap on Member Business Lending for credit unions. H.R. 1418 by Rep. Ed Royce (R-CA), the Small Business Lending Enhancement Act of 2011, now boasts 101 bi-partisan co-sponsors, eight of which are from Florida. The eight Florida co-sponsors are: Reps. Gus Bilirakis (R-FL), Kathy Castor (D-FL), Jeff Miller (R-FL), Bill Posey (R-FL), Dennis Ross (R-FL), Allen West (R-FL), Rep. Bill Young (R-FL), and the newest co-sponsor, Rep. Alcee Hastings (D-FL). When you include Sen. Bill Nelson (D-FL) as a co-sponsor of the Senate version of the bill (s.509 by Sen. Mark Udall (D-CO), exactly one-third of the Florida delegation has signed on to co-sponsor MBL legislation. This is a direct result of the outstanding grassroots involvement of League advocates. If one of your members of Congress is on this list, please remember to reach out to them and thank them for their support. If your member is not on this list, please reach out to them and ask them to co-sponsor this important piece of legislation.

Click here to read 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 ]

Tampa Chapter hosts Legislative Breakfast to meet with key legislators

The Tampa Chapter of Credit Union's Legislative Breakfast was an opportunity for credit unions from the Tampa Chapter to meet their elected officials. The event was also an opportunity for their elected officials to learn about what credit unions are doing to help people in their area.

Left to right: Wes Strickland, Grow Financial FCU; Nancy Smith, Tampa Bay Federal Credit Union; Brian Robinson, floridacentral Credit Union; Andrew Gonzalez, LSCU.

 

Left to right: Thomas Feindt, Grow Financial FCU; Rep. Rich Glorioso (R-Plant City); Bob Fischer, CEO of Grow Financial FCU.


[ Return to Top ]

Compliance Corner
League InfoSight highlight: Repossession and Sale of Collateral

The current edition of the League InfoSight newsletter covers repossession and sale of collateral which continues to be a unpleasant subject for many credit unions. 

Repossession is, primarily, necessary when a member defaults on a secured obligation to the credit union. The most common reason for default, although not the only one, is when the member borrower does not pay or makes payments that are materially less than those scheduled, and fails to respond to the credit union's collection efforts.

To protect its interest and assets, a credit union must be sure that it is legally able to repossess collateral. This process begins when the loan is made. The credit union must create a valid lien whenever it grants a secured loan. This process begins by ensuring that the promissory note and the security agreement are accurately and correctly completed and signed.

To read more about repossession and accompanying guidelines, 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

November 2011

  • November 11: Veterans' Day - Federal Holiday
  • November 24: Thanksgiving Day - Federal Holiday

      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
      Tickets now available for NCUF Wegner Awards Dinner

      Credit union leaders and supporters can now purchase tickets for the National Credit Union Foundation (NCUF) Dinner presenting the Herb Wegner Memorial Awards (formerly the “Herb Wegner Memorial Awards Dinner”) on March 19 at the Grand Hyatt Washington during the Credit Union National Association’s 2012 Governmental Affairs Conference (GAC).

      Tickets can be obtained online by clicking here or registrants can also choose to download a printable form, complete it offline, and fax or mail the completed form to the NCUF. The deadline to purchase tickets is March 2, 2012.

      Individual tickets for the three-course dinner are priced at $275 each. Tables of 10 are priced at $2,750. The estimated value of the tax-deductible portion of each ticket purchase price is $125.

      “The name has been updated but that is all that has changed about this special gala event,” said NCUF Executive Director Bucky Sebastian. “Attendees will again leave inspired and impressed after hearing the stories of this year’s exceptional Wegner Award winners.”

      The Lifetime Achievement Award will be presented to two CEOs. Suncoast Schools FCU President/CEO Tom Dorety will be awarded, along with Bill Eckhardt, president/CEO Alaska USA FCU. The Outstanding Program will be awarded to Invest in America.

      [ Return to Top ]

      SECUF holds 1st Annual 'Putt with a Purpose' Golf Tournament

      The Southeastern Credit Union Foundation's (SECUF) "Putt with a Purpose" golf tournament helped raise more than $6,000 to benefit the CU4Kids program.

      More than 40 golfers participated in the tournament, making this event a success at the beautiful Grand Marriott's Robert Trent Jones Azalea Course in Point Clear, AL. There were more than $700 raised in superball package sales alone. Many thanks to the event sponsors; CO-OP Financial Services as the Breakfast Sponsor, Print Resources as the Beverage Cart sponsor, CUNA Mutual Group as the Lunch Sponsor, and LEVERAGE as the Awards Sponsor.

      Awards included:

      1st Place Team
      Keith McKinley, The Infirmary FCU
      Larry Stapleton, The Infirmary FCU
      Mike Alexandre, SE Corporate FCU
      Bill Stewart, SE Corporate FCU
      John Ramsey, Naheola Employees CU

      2nd Place Team
      Frank Dykes, Alabama CU
      Jimmy Lankford, Alabama CU
      Mike Rhiney, Alabama CU
      Gary April, Alabama CU

      Longest Drive
      Zach Howell, Family Security CU

      Closest to the Pin
      Mike Wood, Five Star CU

      Putting Contest
      Kevin Hill, Five Star CU

      For more information about CU4Kids, click here. [ Return to Top ]

      Education News
      Cheney, Vale headline LSCU Development Conference

      Riverdale CU CEO Linda Walker makes a point during the SAS Roundtable at the LSCU Development Conference.

      The LSCU Development Conference, held Nov. 204 in Point Clear, AL, had a little something for everyone. CUNA President/CEO Bill Cheney provided an overview of the national credit union movement that included an update on member business lending (MBL). Cheney said the banks argument that credit unions weren't made for MBLs is ridiculous considering credit unions have made the loans for 103 years.

      The Consumer Financial Protection Bureau's Elizabeth Vale told the Governmental Affairs luncheon crowd that she welcomed comments from credit unions and even gave out her email address - elizabeth.Vale@cfpb.gov. Vale says her office has a good working relationship with CUNA and is building one with the NCUA. She said her office wants to preserve the credit union model. 

      The conference also included NCUA Region III Director Herb Yolles and Children's Miracle Network Chief Concept Officer Craig Sorensen while LSCU President/CEO Patrick La Pine provided a welcome and opening remarks. Attendees could choose from 12 different education topics. There were five hours of exhibit hall time and more than $6,000 was raised at the Children's Miracle Network golf tournament.

      For a more complete wrap up of the LSCU Development Conference, click here.   [ Return to Top ]

      Education Calendar

      Upcoming Events:

      Wednesday, November 9
      Year-End Compliance Checklist
      3 to 4:30 p.m. EST - Webinar

      Thursday, November 10
      Mandatory Compliance Training Series: Robbery Preparedness for All Staff
      3 to 4:30 p.m. EST - Webinar

      Click here to view complete calendar of events.

      [ Return to Top ]

      LEVERAGE News
      CMG risk consultant: adopt pin, chip technology now

      CMG Senior Risk Management Consultant Ann Davidson

      Magnetic stripe card technology is going away, but it continues to pose a significant fraud risk for debit card issuers still using it, a CUNA Mutual Group (CMG) risk manager told a breakout session audience Nov. 4, at the 2011 ATM, Debit & Prepaid Forum.

      CMG Senior Risk Management Consultant Ann Davidson encouraged card issuers to move away from magnetic stripe cards and adopt more secure chip technology.

      “The U.S. is a magnetic stripe fraud hot spot particularly for debit cards, since we’re among the last country to migrate to chip technology,” Davidson said. Criminals are using skimming devices and other sophisticated technology to capture the magnetic stripe and PINs, which is translating into a growing trend of debit card magnetic stripe and PIN fraud.

      Citing a recent Nilson Report study, Davidson said U.S. card fraud is double that of global fraud. The U.S. loses nine cents to fraud for every $100 worth of credit and debit card transactions, while the global average is four-and-a-half cents. “Many of the card fraud losses are occurring at ATMs, where in the U.S., they’re being referred to as “Automated Theft Machines.”

      The days of lone perpetrators peeking over a card user’s shoulder to obtain a PIN are long gone. Today, data breaches and skimming equipment at ATMs or at the point of sale are providing easy money for crooks. Outdated magnetic stripe technology is an enabler, and as long as there are available victims and the thin black line on the card is used, the fraud schemes will continue.

      Click here to read the complete CMG release. [ Return to Top ]

      News from You
      ZumbaFest helps CFE FCU raise cash for 'A Gift for Teaching'

      More than 100 people enjoyed a fun and effective workout during the ZumbaFest, while dancing, stomping, jumping and hip-hopping to a combination of Latin and international music. The event was held at the Oviedo Mall and instructors from Casa de VIBE Dance Studio, located in the mall, donated their time to lead the participants.   

      The ZumbaFest helped put CFE in the position of Top Mover during A Gift For Teaching’s (AGFT) 2011 PUSH campaign, raising almost $3,000 and collecting 30,650 school supplies from employees and members. Every $1 donated to AGFT equals $10 worth of school supplies.

      “We want all of our kids to succeed in school by having the right tools,” said CFE President/CEO Joseph A. Melbourne, Jr. “Our members and employees make a positive difference in the lives of students through their generous donations of funds and school supplies every year.”

      CFE was the lead sponsor for AGFT’s 2011 community wide PUSH Campaign to raise funds and supplies for students in Central Florida. The entire campaign raised more than $111,000, and collected more than 1.2 million school supplies. In further support of the campaign, CFE personnel volunteered their time by taking calls live on air at the WKMG Channel 6 fundraising telethon held during the early morning and late afternoon news programs.

      [ Return to Top ]

      Items that your credit union could use?

      Service 1st Credit Union, based in Tampa, has some great items to sell that may be of use to your credit union. Take a look at the items below and contact Service 1st if you are interested.

      • 1 Custom Kiosk - $7500 (dimensions upon request)
      • 1 Vault - $4000
      • 1 Nightdrop - $1200
      • 10 – Convex frames - $150 each

      For more information about these items, contact Service 1st CU President Sharmon Lenth at 813.383.3300. [ 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 ]

      footer
       
      Twitter Facebook YouTube