LSCU eSignal Weekly
LSCU eNews Weekly January 3, 2012
home button press room button contact us button
LSCU eNews Weekly
In This Issue
President's Point
Make 2012 the year your credit union gets politically engaged
LSCU Top Headlines
This week's top League headlines
Governmental Affairs News
This week in Alabama politics: Public deposits top issue, right of redemption, small business lending
This week in Florida politics: 2012 Legislative Session one week away, advocacy at all-time high
PAC fundraising essential to credit union progress
2012 LSCU State GAC in Florida coming up Jan. 24-25
Compliance Corner
League InfoSight highlight: Bankruptcy, Collections Channel Updated
Compliance calendar and training
Cooperative Initiatives News
Donate today for a community project around the Republican National Convention
Free MEMBERS Trust Company webinar to cover new CIF option
Education News
LSCU/CUES Credit Union Executive Dialogue coming Feb. 2-3 in Bonita Springs
2012 LSCU webinar schedule includes eight this month
Education Calendar
LEVERAGE News
CUNA Mutual Group announces 2012 credit union protection webinars
News from You
CFE FCU 'Steps Out' raising more than $21,000 for American Diabetes Association
Patsy Lindamood honored for 23 years of service
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

Make 2012 the year your credit union gets politically engaged

Happy New Year. I hope all of you had a safe and relaxing holiday season. As we begin 2012, the political season kicks off right away with the Iowa Caucus tonight. As you know the Iowa Caucus sets off a flurry of political activity over the next ten months. It will flesh out the presidential ticket for this fall. This is also a good time for credit unions to consider becoming more politically active this year.

The Florida State Governmental Affairs Conference (GAC) will take place Jan. 24-25 in Tallahassee. The GAC will be the week before the Florida Primary. On the agenda will be our federal contract lobbyist John McKechnie. He will speak about federal issues and give an overview of where some of our legislation stands including member business lending. John is helping us to raise our profile with our federal delegation when we are not in Washington, D.C. as well as assist us with federal regulatory issues with NCUA. The GAC is a great opportunity to not only hear about the state issues, but really understand our federal issues and how the presidential election will affect credit unions.

The Alabama Primary is March 13 in Montgomery. The Alabama State GAC will be a couple of weeks following the primary on April 4-5. Again, John McKechnie is on the agenda and he will give a greater overview of how the presidential election is shaping up and what it will mean to our credit unions. The State GACs are a great way for credit unions to dip their toe into becoming more politically active.

The CUNA Governmental Affairs Conference (GAC) is a little later this year, March 18-23 in Washington, D.C. Every GAC is a chance to understand the political landscape and how credit unions fit in the picture. Almost every new attendee wonders why they haven’t attended in the past. The Hill visits alone are worth the visit. We spend time meeting with our representatives and senators and each office loves to hear “real” stories from credit unions. I hope you will consider attending your State GAC and the CUNA GAC or at least one of them.

An election year also highlights the importance of PAC fundraising. The money that is contributed to the PAC goes toward candidates, regardless of political affiliation, that understand and have a favorable view of credit unions. In the mid-term elections of 2010, 85 percent of candidates supported by the League were elected. As we’ve seen with the current Congress, legislation that affects the way we do business can be introduced quickly. We need to have a clear picture of those candidates or incumbents who really understand our issues and are willing to stand with us.

If staff at your credit union can’t attend one of the GACs, I hope you will consider taking a greater role in PAC fundraising. Payroll deduction and our PAC lapel pins are great way to help the credit union movement. I also hope you will consider hosting or attending a chapter legislative breakfast or legislative night. This gives credit unions in the district a chance to get to know their elected leaders. Many of these relationships help during our visits in Washington, D.C., Montgomery, and Tallahassee. Let’s make one of our New Year’s resolution to become more engaged politically in the credit union movement. We all benefit.      

I welcome your thoughts and feedback.

  [ Return to Top ]

LSCU Top Headlines
This week's top League headlines

Credit unions alerted to ATM lawsuits
Credit unions are being alerted that a few ATM fee disclosure lawsuits have been filed by a New York resident. The lawsuits contend that correct signage was not displayed showing exactly what the fees were. You can read more here. CUNA has re-released an audio conference for credit unions that goes over the correct signage needed. You can access more by clicking here

NCUA not seeking large credit union data; launches two websites
On Dec. 28, the NCUA asked the Office of Management and Budget if it could collect monthly financial data from credit unions with $1 billion or more in assets, including executive and board compensation. The NCUA now says it will rescind that request. You can read more here. The NCUA also launched two websites to help with transparency on the Corporate System Resolution and the Guaranteed Note Program. You can read more here

NCUA's Stabilization Fund gets clean audit
The NCUA recently made available the audit for the Temporary Corporate Credit Union Stabilization Fund. KPMG LLP conducted the audit and gave the fund a "clean" or unqualified audit opinion. NCUA Chairman Debbie Matz said, "The Stabilization Fund’s clean audit opinion by an independent body demonstrates our commitment to robust financial reporting.” You can read more about the audit on the NCUA's website

Signal Magazine and Director's Resource available online
Credit unions should have received their copy of fourth-quarter edition of Signal magazine or they will this week, while the Director's Resource Newsletter, geared toward credit union directors, was emailed to credit unions last week. Each is also available for viewing online. Visit the LSCU Publications page to read from your computer, tablet, or smart phone. 

FCUSS CEO passes away
The Florida Credit Union Shared Services (FCUSS) CEO Nancy Dalton passed away Dec. 22, 2011 following a brief illness. Nancy began her career at FCUSS in 1995. She helped lead FCUSS into one of the largest shared services networks in the country.  

CUNA Regulatory Report
CUNA's final Regulatory Report is now available. The report contains a chart listing all of the pending regulations from various agencies. Plus, there is a closer look at what the NCUA, Consumer Financial Protection Bureau and other agencies did in 2011. You can read the report by clicking here.
[ Return to Top ]

Governmental Affairs News
This week in Alabama politics: Public deposits top issue, right of redemption, small business lending

Alabama Legislative Update

With the 2012 Legislative Session just over one month away, the LSCU Governmental Affairs (GA) team in Alabama is working on a number of issues and what they are hearing from others that will be of interest to credit unions in the coming months.

Public Deposits
While it comes as no surprise that the League’s number one legislative goal this session is to see the ability for credit unions to become qualified public depositories restored, the GA team is continuing its work to see that goal achieved.  During the month of December, the League held meetings with legislators throughout the state, and so far has received very positive feedback. Most have seen the idea of increased competition for public funds as a benefit to the public entities involved and, as stated before, none have any interest in increasing taxes on credit unions in Alabama. The League sees this battle as being one of good policy versus politics, an all too common occurrence with regards to credit unions. With the holidays officially over, the focus on preparing the Alabama legislature for this legislation will intensify leading up to the beginning of the session.

In addition, the GA team has been asked by several legislators for examples of credit unions that have had to turn away public deposits or instances where deposits were relinquished due to not being on the SAFE list. The League has shared what it knows, but there are credit unions that have had experience with this that it is unaware of. If you are a credit union that has had to turn away deposits or had any other negative experience due to not being a qualified public depository, contact LSCU Director, Legislative Affairs Jason Cochran at 866.231.0545.

Right of Redemption
Decreasing the redemption period on foreclosed properties has been a work in progress for many years, and 2012 will be no different. The League staff in Alabama has been contacted by the House sponsor of this legislation for 2012, and they have told him of their intention to fully support his efforts as they have in the past.  However, there will be one major change to the legislation as introduced in 2011. If you recall, the legislation in 2011 reduced the redemption period from one year to 90 days. The planned legislation for 2012 will have a reduction to the redemption period from one year to six months. The change from 90 days to six months is an attempt to appease the opposition that this bill has faced over the years and hopefully put it on more of a fast track to final passage and the signature of the governor.

LSCU supports any and all reductions to the redemption period and will continue to do so in 2012.

To read the complete Alabama Update including an update on small business lending authority, click here.

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: 2012 Legislative Session one week away, advocacy at all-time high

Florida Politics Week in Review

This week marks the final week before the 2012 Legislative Session begins. Legislators will spend this week meeting with constituents in their districts before they all head to Tallahassee to begin the 60-day regular session. The League’s top legislative priority, obtaining the ability for credit unions to serve as public depositories has bills filed in both chambers, with the House version, HB 669 by Rep. Jason Brodeur (R-Sanford) currently in the Insurance and Banking subcommittee. The Senate version of the bill, SB 936 by Sen. Chris Smith (D-Ft. Lauderdale), referred to three committees last week, the Governmental Oversight and Accountability Committee, the Banking and Insurance Committee, and the overall Budget Committee. The Senate agenda calendar has been released and the credit union Senate bill will not be heard next week. The League is still awaiting the release of the House agenda calendar to determine whether the House version will be heard next week.

Mark your calendars for Jan. 24-25, 2012, and plan to attend the Florida State Governmental Affairs Conference in Tallahassee. The Hotel Duval reservation block has ended. If you need help with hotel reservations, contact LSCU Director, Events Julianne Talley at 866.231.0545 ext. 1148.

Grassroots Activity
As the League has been reporting, it intends to make grassroots advocacy an even bigger priority in 2012. As the Legislative Session is set to begin, it is asking that advocates put an emphasis on helping the League pass legislation by meeting with their elected officials, both in-district and here in Tallahassee during the State GAC. Advocates can also help contact their legislators through emails, letters, and phone calls. The Governmental Affairs (GA) team will be working with each chapter to plan and host a legislative event after the legislative session ends.

Also, the GA team has been working hard preparing to unveil the League’s new online grassroots advocacy tool, VOCUS Action Center. Using this online tool will make it easier for credit union staff and members to contact their elected officials. However, in order to utilize the action center's grassroots functions once it is unveiled, an LSCU website log-in is required. If you do not currently have a log-in for the website, make sure you register for one by clicking here. As the 2012 Legislative Sessions in both Florida and Alabama move closer, grassroots activity will continue to grow in importance. The League will need the entire network available and ready to contact lawmakers to help advance legislative priorities.

Should you have any questions on any of the legislative issues mentioned in the Florida Politics Week in Review contact LSCU Director, Legislative Affairs Jared Ross at 866.231.0545 ext.1012.

[ Return to Top ]

PAC fundraising essential to credit union progress

The League made great strides in its Political Action Committee (PAC) fundraising efforts in 2011, and it intends to build on those efforts for 2012. LSCU Grassroots and Political Action Coordinators Andy Gonzalez (FL) and Blake Westbrook (AL) will hit the ground running. Andy and Blake are available to help each credit union advance its fundraising efforts. Be on the lookout for your 2012 Fundraising Guide and your 2012 CUPAC and FEDPAC goals in the next couple of weeks.

If you have any questions about PAC fundraising, contact LSCU Grassroots and Political Action Coordinators Andy Gonzalez at 866.231.0545, ext. 1010 or Blake Westbrook at 886.231.0545, ext. 2164. [ Return to Top ]

2012 LSCU State GAC in Florida coming up Jan. 24-25

The LSCU State Governmental Affairs Conference (GAC), to be held at Hotel Duval in Tallahassee, FL on Jan. 24-25, will immerse credit unions in state credit union issues.The agenda is highlighted by  the League's federal lobbyist John McKechnie speaking about federal issues facing credit unions. There will also be a roundtable discussion with OFR and NCUA Region III Director Herb Yolles as well as a regulatory and legislative issues update. 

The GAC features two opportunities for credit unions to interact with their lawmaker. Attendees have an opportunity to talk about credit unions in-depth with their lawmakers when they visit the capitol. There will also be a lawmaker reception where credit unions can visit with their lawmaker in a relaxed environment. Two Public Deposits bills have been filed for 2012. High attendance at the GAC will ensure that lawmakers hear how important the issue is to credit unions.

Register for your spot now to gain face-to-face access to legislators. Click here for more information or to register.

[ Return to Top ]

Compliance Corner
League InfoSight highlight: Bankruptcy, Collections Channel Updated

The current edition of the League InfoSight newsletter covers a new topic—Bankruptcy: Mortgage Holders—recently added to the Bankruptcy and Collections channel of InfoSight. This topic addresses new amendments to the Bankruptcy Rules affecting mortgage creditors in Chapter 13 cases. The amendments became effective on Dec. 1, 2011, and added new requirements and stringent new penalties for those who fail to properly comply.

To read more about the new bankruptcy topic, 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

January 2012

        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
        Donate today for a community project around the Republican National Convention

        The Southeastern Credit Union Foundation (SECUF) kicked-off a major project in honor of the Republican National Convention (RNC) in Tampa in August. Each presidential election year, CUNA works with the states that host the Democratic and Republican conventions on a "leave-behind" service project.

        This year, with the Democratic National Convention being held in Charlotte, NC in September, CUNA, the SECUF, and the North Carolina League Foundation will work together to build playgrounds in each host city at its local CMN designated children's hospital. It will take $300,000 in each city to complete the project and is scheduled to be finished by the summer of the conventions.

        The SECUF encourages all credit unions, both locally and nationally, to support this great cause to help credit unions make a lasting impression in each of these host cities. There are numerous ways to get involved; through corporate and individual contributions, as well as volunteer opportunities throughout the building of each playground.

        To learn how your credit union, organization, or business can support this project in Tampa and to learn more about each recognition level, visit the SECUF website. [ Return to Top ]

        Free MEMBERS Trust Company webinar to cover new CIF option

        Credit unions are invited to register for a free webinar from MEMBERS Trust Company - "NCUF Charitable Lead Trust - A Charitable Investment to Match Your Charitable Intent." The 20-minute webinar will be held Feb. 2, 2012 at 3:30 p.m. CT/4:30 EST.

        Webinar participants will get a chance to hear more about the new Charitable Lead Trust Community Investment Fund (CIF) option from Tom Walker, president/CEO, and Jason Ritzenthaler, CFA, CTFA - vice president, Trust & Investments, of MEMBERS Trust Company.

        With the new Charitable Lead Trust option, the NCUF will receive annual payments calculated as a percentage of the market value of the assets held in the trust for a three- to five-year period. Unless the donor credit union elects to renew the trust at the end of this payout period, the remaining assets in the trust will be returned to the credit union.

        Click here for a detailed FAQ on the new Charitable Lead Trust CIF Option, and click here to register for the Charitable Lead Trust webinar.

        [ Return to Top ]

        Education News
        LSCU/CUES Credit Union Executive Dialogue coming Feb. 2-3 in Bonita Springs

        The first LSCU/CUES Credit Union Dialogue will bring credit unions together with more than $500 million in assets to have a frank discussion about the state of the credit union industry. The Hyatt Regency Coconut Point in Bonita Springs, FL will be the backdrop Feb. 2-3 for this unique event. 

        While every credit union, regardless of size, plays a critical role in the long-term success of the movement, large credit unions have the economies of scale, means of collaboration, and political clout to help set the direction for future industry success. The agenda features time for discussion and scenario planning.

        Here's a snapshot look at the agenda:

        • State of the Movement, Bill Handel, VP/Product Development, Raddon Financial Group   
        • Open Forum, facilitated by Bill Handel
        • Executive Panel Discussion
        • Peripheral Vision and Scenario Planning, Jim Austin and Janet Castricum, principals, Decision Strategies International
        • Scenario Planning Exercise/Facilitated Discussion with Jim Austin and Janet Castricum
        • Facilitated Discussion: Next Steps with Jim Austin and Janet Castricum

        The Dialogue is geared toward CEOs and executive management. Credit unions from around the country are invited, along with those credit union in Alabama and Florida. For more information or to register, click here. For questions, contact LSCU Association Services Support Specialist Becki Payne at 866.231.0545 ext. 2129. [ Return to Top ]

        2012 LSCU webinar schedule includes eight this month

        The LSCU's 2012 webinar schedule looks to pick up where 2011 left off. Last year the League offered 101 webinar opportunities to its member credit unions. As 2012 gets underway, 96 webinars are scheduled for 2012, and hot topics will be added as necessary.

        There are eight webinars offered in January. Among the first topics are Business Account Takeover Alert, which looks at cyber attacks; Managing the New Appraisal Guidelines for Residential Properties; and Loan Stress Testing for Today's Credit Unions.  

        To view a listing of the 2012 webinar opportunities as well as the remaining archived webinars from 2011 click here or visit the LSCU Events Calendar

        For questions, contact LSCU Association Services Support Specialist, Becki Payne at 866.231.0545 x2129.

        [ Return to Top ]

        Education Calendar

        Upcoming Events:

        Tuesday, January 24 - Wednesday, January 25
        Florida State GAC
        7:30 a.m. to 6:30 p.m., EST

        Thursday, February 2 - Friday, February 3
        LSCU/CUES Large Asset Size CU CEO Executive Dialogue
        Hyatt Regency Coconut Point - Bonita Springs, Fla.
        8 a.m. to 5 p.m. EST

        Tuesday, February 7
        SAS Credit Union Workshop - Florida
        8 a.m. to 4 p.m. EST

        To view the 2012 LSCU Education Calendar of Events, click here.

          [ Return to Top ]

        LEVERAGE News
        CUNA Mutual Group announces 2012 credit union protection webinars

        CUNA Mutual Group fidelity bond policyholders can learn about risk trends and exposures they need to prepare for next year by participating in the insurer’s popular Credit Union Protection 2012 Webinar Series.

        “Topics provide valuable insights and recommend effective tools to reduce losses and help protect against a wide variety of risks,” said Brad Mundine, CUNA Mutual Group senior manager of Credit Union Protection Risk Management. “The one-hour webinars are provided as a no-cost, value-added benefit for policyholders, who can participate without stepping away from their desk.”

        In the past 10 years, CUNA Mutual Group has delivered in excess of 120 webinars to more than 25,000 credit union professionals. According to 2011 webinar participant surveys, more than 95 percent of attendees reported they were “Very Likely/Likely” to recommend the series to a colleague, Mundine said.

        To read the complete story about the CUNA Mutual Group webinars and how to register, click here. [ Return to Top ]

        News from You
        CFE FCU 'Steps Out' raising more than $21,000 for American Diabetes Association

        The CFE FCU team


         

        The team from CFE Federal Credit Union raised more than $21,000 to help prevent, cure, and stop diabetes.

        CFE Federal Credit Union President and CEO Joseph A. Melbourne, Jr. served as the ADA Walk Chair for the '2011 Step-Out Walk.' Melbourne solicited many organizations and people from across Central Florida to join CFE and participate in the walk held at Baldwin Park, Orlando. Approximately 1,100 walkers and volunteers from the Central Florida community were up for the challenge.

        “Through their hard work, dedication, and education, people are learning more about this disease every day, how to fight against it and to find a cure,” remarked Melbourne. “Our members and employees realize the value of supporting the ADA and have shown their enthusiasm by donating their time and funds to this very worthy cause."

        As a main sponsor of the event, CFE held numerous fundraising efforts starting in early summer to gain support of employees and members. Some of the fundraising activities included a full week of senior managers’ cooking-out, Italian ice sales, online silent auction, paper hand sales in the branches, and individual fundraising efforts through the end of November 2011.

        [ Return to Top ]

        Patsy Lindamood honored for 23 years of service

        Patsy Lindamood receives one of many nice going away gifts from 1st CU of Gainesville Vice Chairman Ralph Hilliard. Lindamood is relocating to Community Service CU in Huntsville, Texas where she will be the chief financial officer. Many people showed up to honor her for 23 years of service to her credit union. Florida’s loss is Texas’ s gain.


        [ 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