LSCU eSignal Weekly
LSCU eNews Weekly January 9, 2012
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LSCU eNews Weekly
In This Issue
President's Point
Be active during the "International Year of the Cooperative"
LSCU Top Headlines
This week's top League headlines
Governmental Affairs News
This week in Alabama politics: 2012 Legislative Session nears, Project Zip Code 12.0
This week in Florida politics: 2012 Legislative Session has arrived, early end could be possible
Significant strides in 2011 for PAC fundraising, looking forward to 2012
Compliance Corner
League InfoSight highlight: Record Retention
Compliance calendar and training
Cooperative Initiatives News
Register today for LSCU's 2012 Small Credit Union Workshop
Education News
LSCU/CUES Credit Union Executive Dialogue: A frank discussion about state of CU industry
2012 LSCU State GAC in Florida coming up Jan. 24-25
First of BSA Training Workshops scheduled for 2012
Education Calendar
LEVERAGE News
Exclusive invitation to free CO-OP training workshop
News from You
Insight CU completes merger with Florida Episcopal FCU
Register today for Southeastern Credit Union Management Association annual meeting
EMPLOYMENT
View available credit union jobs
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President's Point

Be active during the "International Year of the Cooperative"

As the New Year officially kicks in and we’re finally used to using and writing 2012 on our communications, we are now in the “United Nations International Year of the Cooperative.” Throughout the next 12 months, cooperatives from around the world will celebrate a business model that puts people first. One that is close to all of our hearts.

The International Year of the Cooperatives is a unique designation as it doesn’t happen very often. In fact, this may be the only time the United Nations places this distinction on cooperatives in our lifetime. The United Nations says that its highlighting cooperatives because it's “in recognition of their contribution to socio-economic development, particularly with regard to poverty reduction, employment creation and social integration. The theme of the year will be ‘Cooperative enterprises help build a better world.’”    

2012 will be a good year for credit unions to push out the message of how we work for our members, put their needs first and try to build a better world for all its inhabitants. Credit unions are entrenched in their communities and work closely with local organizations to improve the lifestyle of the people that live there. Some are low-income designated credit unions committed to working with those that are typically underserved. This is something very few people probably realize. It’s a great story to tell. Plus, the good works of many credit unions and chapters should also be highlighted since it’s a perfect chance to show the cooperative spirit among credit unions.  

There is still some lingering positive sentiment about Bank Transfer Day. The League continues to field media calls about the results of Bank Transfer Day and how credit unions have benefited. While the "International Year of the Cooperative" celebrates every kind of cooperative, credit unions can use the designation to continue the momentum of Bank Transfer Day. It’s a way to let potential members know that credit unions have a different way of doing business--one focused on the member and a model where the members, who own and govern the business, collectively enjoy the benefits.

The World Council of Credit Unions (WOCCU) has goals and ideas on its website on how credit unions can participate in the International Year of the Cooperative. The goals are to raise awareness of credit unions among young adults, promote the formation and growth of credit unions and encourage governments to establish policies for the formation, growth and stability of cooperatives. Among the ideas WOCCU suggests is to utilize public relations like above or take political action. Join us for a State Governmental Affairs Conference in Tallahassee on Jan. 24-25 or Montgomery on April 4-5 and interact with your state lawmakers. Join us at the CUNA GAC in Washington, D.C. March 18-23 and interact with our federal lawmakers. 2012 is a presidential election year and it’s important we are active as a movement.

Over the next 12 months credit unions have a chance to shine across the world, not just in Alabama, Florida or the United States. I hope this will also be the year you and your credit union celebrate what makes you unique by getting the message out and becoming more active. Our opportunities for growth remain in front of us; we just need to grab hold of them.  

I welcome your thoughts and feedback.
[ Return to Top ]

LSCU Top Headlines
This week's top League headlines

President Obama uses recess appointment for new CFPB head
On Jan. 4, President Obama used his executive authority to appoint Richard Cordray to head the Consumer Financial Protection Bureau (CFPB) while Congress is in recess. Click here for the complete story from the New York Times. 

CUNA, LSCU, NCCUL team up for leave behind project
CUNA, the LSCU and the North Carolina Credit Union League are teaming up for a leave-behind project at this year's Democratic and Republican National Conventions. The projects will renovate all-access playground at Children's Miracle Network Hospitals in Charlotte and Tampa, the sites for this year's conventions. For more information on how you or your credit union can donate money or time to the project, visit the Southeastern Credit Union Foundation website.

BSA, SAR filings tick up in 2011
The total number of Bank Secrecy Act (BSA) filings and the number of Suspicious Activity Reports (SARS) filed both increased in fiscal 2011, the Financial Crimes Enforcement Network (FinCEN) said in its Annual Report. To read the full story, click here.

CUNA releases new board portal case study in partnership with Passageways
CUNA announced the release of a new case study exclusively available on the CUNA Volunteer Network. This case study examines the use of Passageways board portals by three credit unions around the world. For more information included in the CUNA release, click here.

CUNA Regulatory Advocacy Report
This week's report covers the new CFPB Director reaching out to CUNA and credit union leagues, the launch of the CFPB Nonbank Supervision Program, a Federal Reserve white paper on housing markets and policy, as well as NCUA's proposed rule to Amend its RegFlex Program. Click here to read the report. [ Return to Top ]

Governmental Affairs News
This week in Alabama politics: 2012 Legislative Session nears, Project Zip Code 12.0

Legislative Session Nears
It's one week closer to the beginning of the 2012 Legislative Session in Alabama, and the LSCU Governmental Affairs (GA) team is continuing to push credit union issues to legislators throughout the state. As the Session draws closer, League staff will not only intensify the push for credit union-friendly legislation, but remain vigilant of attempts to weaken the movement. With discussions of budget shortfalls, new taxes, and the push for public deposits, it is important that any potential attack on credit unions be met with a swift defeat, and that is exactly what the League plans to do.

Political news will only grow as the start of the session nears and the GA team will relay all of it to the membership as soon as possible.  In the meantime, if you have any questions, concerns or comments, contact LSCU Director, Legislative Affairs Jason Cochran.

Project Zip Code
Over the next few months, GA will be making a big push for every credit union to participate in the new 12.0 version of Project Zip Code. This program is a powerful tool for credit unions to match their membership with their state and federal lawmakers. This helps with local and national grassroots advocacy showing exactly how many credit union members are in each district. Lawmakers respond better to credit union issues when they understand how many credit union members in their district will be affected by legislation. It's also a great way for credit unions to capture a look at their membership and utilize it for marketing.

More than 78 million credit union members have already been identified through Project Zip Code. It's important to continue the success of PZC by updating your numbers regularly.  Contact LSCU Grassroots and Political Action Coordinator BlakeWestbrook or click here for more information on Project Zip Code.

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 has arrived, early end could be possible

Florida Politics Week in Review:

The Legislature returns to Tallahassee Monday as the 2012 Regular Legislative Session begins Tuesday. While the official start of session is Tuesday, the Legislature will be working Monday as several of the committees will be meeting, particularly the redistricting committees for the House and the Senate. Legislators, lobbyists, and other Tallahasseeans will mark the start of session tonight at the annual Associated Industries of Florida Welcome Reception at the AIF House. To follow the goings on in the Legislature, daily and weekly calendars can be found by clicking here for the Senate and here for the House.

The League’s top legislative priority, obtaining the ability of 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 has been told to expect the House bill to be heard this week on Wednesday, Jan. 11, 2012 in the Insurance and Banking subcommittee. Once the League receives confirmation that the bill is on the agenda, an action alert will be sent out. In the interim, do not hesitate to contact members of the committee urging them to support HB 669, Relating to Public Depositories. Information for the individual committee members can be found by clicking here.

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.

Could Session End Early?
Each year, the Legislature returns to Tallahassee for a 60-day regular Legislative Session. Normally, the session begins in March and ends in May, however, due to Legislative and Congressional Redistricting, the 2012 session will begin in January and end in March. The Legislature is constitutionally charged with doing two things this year, redistricting and passing a balanced budget. The Senate President isn’t so sure his chamber is ready to take on number two just yet. Sen. Mike Haridopolos (R-Merritt Island) is already suggesting the legislature should limit session to 40 days, telling the Associated Press it may be more prudent to delay addressing the nearly $2 billion budget deficit until more accurate revenue projections are available. Haridopolos said if senators lack confidence in the new numbers being released next week, one option would be to end session early and return later in the spring to work on the budget. Legislators have until July to pass it. House Speaker Dean Cannon (R-Winter Park) was caught off guard by Haridopolos’ suggestion as he’s insisted all along the legislature can pass a budget and return to tweak it if necessary. Cannon said, “The president has not mentioned anything like that to me. I am surprised that would be a serious option if he hasn’t shared that with the House.” Rumors of extended or shortened sessions are nothing new in the legislative process, but when they come from the mouth of a chamber leader, they are certainly worth paying attention to.

To read the complete Florida Politics Week in Review including information on grassroots advocacy and PAC fundraising, click here.

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 ]

Significant strides in 2011 for PAC fundraising, looking forward to 2012

Florida CUPAC, the state PAC for Florida raised $277,706 in 2011, which was 111 percent of the League’s goal for the year. ACULAC, the state PAC for Alabama raised $44,500 or 148 percent of the League’s goal. These are impressive results and are a tribute to the hard work of many industry leaders in both states, and League staff, especially Grassroots PAC & Coordinators Andrew Gonzalez in Florida and Blake Westbrook in Alabama.

On the Federal PAC side, while the fundraising goal was not met, there has been a significant increase in the recognition of the importance of PAC Fundraising and political advocacy among credit unions, and the result is more dollars being raised in both states. 

Florida raised more than $86,600 for the federal PAC or 77 percent of the League’s goal. This is an increase of more than $11,000 over last year’s total. Alabama raised more than $28,000 for the Federal PAC or 56 percent of the League’s goal. This is an increase of more than $13,000 over last year. So while the goal may not have been met, there was significant growth, and large strides have been taken toward building the Political Action Program and moving closer to fully realizing its great potential.

The importance of a strong PAC fundraising program cannot be overstated. As the League takes a more aggressive approach to legislative issues in Washington, Tallahassee, and Montgomery, the ability to help elect credit union friends becomes more important than ever before. To effect real, meaningful change in federal and state laws means the League, along with credit unions must be top-tier players in the legislative environment which means remaining top-tier players in the political arena as well. The LSCU has devoted significant resources to building its Governmental Affairs department into something that can make things happen in the halls of government. During 2012, and in future years, the League must be more active and visible than ever with campaigns and elections. The League will be sharing more on the 2012 election cycle plans with you and with credit unions in both states soon, and implementing ways to get involved.  

With a solid year of fundraising behind us in 2011, the League is looking forward to an even better year in 2012. Staff has been busy this week making improvements to fundraising programs making them easier for credit unions to implement. The League looks forward to even greater success in 2012. [ Return to Top ]

Compliance Corner
League InfoSight highlight: Record Retention

The current edition of the League InfoSight newsletter covers the topic of record retention. The purpose of record retention requirements and a record retention program is to provide a comprehensive and cost-effective way to promote effective member service by providing credit unions access to important member information. State laws provide procedural guidelines, and federal laws mandate record retention time periods.

The beginning of the year is a good time to make sure that all staff members are knowledgeable about the guidelines and laws that apply to record retention. The Record Retention channel of InfoSight is an excellent resource for all staff members at your credit union. This channel provides the guidelines you need to remain in compliance.

To read more about record retention 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
        Register today for LSCU's 2012 Small Credit Union Workshop

        The LSCU Cooperative Initiatives Department invites you to the 2012 Small Credit Union Workshops on Feb. 7 in Tampa, Florida and Feb. 9 in Birmingham, Alabama. There will be an exciting line-up of speakers and topics that deal with issues you face every day in your credit unions.

        Jim Warren, CEO of Tyndall Federal Credit Union will provide insight into his credit union’s collection programs, and NCUA Economic Development Specialists Chuck Brandon and Lisa Terrell will give an exam and supervision update. In Florida, the lunch speaker is Rob Lefkowitz, highlighting the growing Cooperative Trust Program, and in Alabama, Lee Taylor will showcase the Young & Free Program. Each one-day workshop will also feature a state of credit unions overview, a compliance overview, and a lending panel made up of your fellow credit union executives.

        Registration is only $79 and remember, you can use your Initiatives Account to cover the registration fee. Click here to go to the LSCU Education Events Calendar and register online. For the complete Small Credit Union workshop agnda, click here.

        For questions or more information, contact LSCU Director, Member Relations Adena Whitman at 205.437.2134.

        [ Return to Top ]

        Education News
        LSCU/CUES Credit Union Executive Dialogue: A frank discussion about state of CU industry

        The 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. 

        Every credit union, regardless of size, plays a critical role in the long-term success of the movement. However, large credit unions have the economies of scale, means of collaboration, and political clout to help set the direction for future industry success.  

        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 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 ]

        First of BSA Training Workshops scheduled for 2012

        The Bank Secrecy Act requires financial institutions to assist U.S. government agencies to detect and prevent money laundering. Specifically, the act requires financial institutions to keep records of cash purchases of negotiable instruments, and file reports of cash purchases of these negotiable instruments of $10,000 or more (daily aggregate amount), and to report suspicious activity that might signify money laundering, tax evasion, or other criminal activities.

        Morning and afternoon sessions scheduled for the first part of 2012 include:

        Click here to download a flyer with more details.

        These workshops 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. [ 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
        Exclusive invitation to free CO-OP training workshop

        Participants of this training workshop will have the opportunity to communicate with CO-OP representatives, share best practices, and understand the working knowledge CO-OP experts have in report research, charge-back adjustments, and much more.

        Breakfast and lunch are included during this one-day workshop. The reservation deadline is Feb. 29, 2012, and is limited to 35 participants. It is recommended having two or three representatives from your credit union attend, but LEVERAGE will work with you individually on what your specific staff attendance needs may be.

        Date: Wednesday March 14, 2012
        Time:
        8:30 a.m. to 4:30 p.m.
        Location:
        Vulcan Park & Museum
                          1701 Valley View Drive
                          Birmingham, AL 35209

        To fill out a workshop reservation form, click here.

        For more information, contact LSCU Director, Transactional Services Janice Jordan at 866.231.0545, ext. 2176.

        [ Return to Top ]

        News from You
        Insight CU completes merger with Florida Episcopal FCU

        The merger between the two credit unions offers many new products and exclusive member benefits to the existing Florida Episcopal Federal Credit Union members, such as checking accounts, debit cards, access to loans and credit cards with low rates, competitive mortgages, and automated services including online banking, bill payer, and mobile banking.

        The merger also adds a significant new base for membership growth to Insight Credit Union. With the merger complete, Insight Credit Union is now open to anyone in the Episcopal Dioceses of Central Florida , Southeast Florida, Southwest Florida, and Florida church members; the employees of parishes, missions, schools, conference centers, retirement homes of these dioceses; and their family members.

        “We are looking forward to serving our new members with the care and personal attention that they are accustomed to," said Insight Credit Union President/CEO George R Davis. "We are eager to share Insight Credit Union with Episcopalians throughout the state of Florida.” [ Return to Top ]

        Register today for Southeastern Credit Union Management Association annual meeting

        The Southeastern Credit Union Manager's Association (SCUMA) is asking credit unions to register for this year's annual conference Aug. 22-24 in Sandestin, FL. The conference is held at the Hilton Sandestin Beach Resort and features rich discussion and education sessions for credit union executives from the Southeastern United States.

        Credit unions are asked to become a member of SCUMA and to register for the conference. If you have any questions, contact Teresa Gray at 866.231.0545 ext. 2110.    [ 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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