LSCU eSignal Weekly
LSCU eNews Weekly February 13, 2012
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LSCU eNews Weekly
In This Issue
President's Point
League takes part in Hike the Hill with small businesses
LSCU Top Headlines
This week's top League headlines
Governmental Affairs News
This week in Alabama politics: House focusing on jobs program, legislation of note
This week in Florida politics: Legislation taking shape, continuing legislative push
News from the Hill: President Obama submitting budget, complete committee schedules
GTE FCU receives CUPAC award
Compliance Corner
League InfoSight highlight: Fair Credit Reporting Act
CUNA Regulatory Advocacy Report - Week of Feb. 13
NCUA revises Loan Workouts, TDRs, Nonaccrual Policy
Compliance calendar and training
Cooperative Initiatives News
Join SECUF in helping kids with 'All Children's Service Project'
Small Credit Union Workshops inform, educate
Communications News
LSCU Image Campaign and America's First FCU win Addy awards
Education News
Register for LSCU Council meeting on April 3 in Montgomery
Make sure your credit union participates in 2012 BSA Training Workshops
Education Calendar
LEVERAGE News
LEVERAGE touts group purchasing power on CU Insight
LEVERAGE partner Office Depot named finalist in Stevie Awards for sales, customer service
LEVERAGE marketing wins four awards
News from You
Pen Air FCU opens first Escambia County student-run CU
EMPLOYMENT
View available credit union jobs
In This Issue
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President's Point

League takes part in Hike the Hill with small businesses

Credit unions have two major issues brewing right now on Capitol Hill in Washington, D.C. I hope everyone is aware of our push for increased member business lending (MBL) cap legislation and a bill to allow for supplemental capital for credit unions  was just introduced by Reps. Peter King (R-NY) and Brad Sherman (D-CA). This sets up an important CUNA GAC March 18-22 in Washington, D.C.  

Last week, we were in Washington, D.C. with Mike McMullen, a small business owner from Alabama. The League took part in a Hike the Hill by small businesses and credit unions from around the country. This was important for the MBL legislation because it wasn’t just credit unions talking to members of Congress, but small business owners who have been unable to get banks to lend them money.  They delivered a small business perspective that sent a powerful message to our Congressional delegation in Alabama. We focused on efforts on Alabama this trip due to lack of co-sponsors from that state as well as the need to press both Rep. Spencer Bachus (R), chair of the House Financial Services Committee, and Sen. Richard Shelby (R), ranking member of the Senate Banking Committee, to take action on the issue.   

Mr. McMullen told six members and their staff from Alabama, including Rep. Bachus, that as a small business owner, the fight between banks and credit unions is not something that he has been concerned with. He said his only concern is that the banks opposition to his credit union being able to help him with loans makes his job more difficult and makes it harder for him to grow his business. In other words, he said the banks political fight against credit unions is harming small businesses like his. This is valuable conversation for our delegation to hear.  Mr. McMullen is a member of Mutual Savings Credit Union in Birmingham, a credit union that is bumped up against the 12.25 percent MBL cap.

What CUNA and state leagues are doing is taking the MBL fight right to the banks. We are showing that their message to Congress that the credit union tax-exemption should be tied to the MBL cap doesn’t hold weight. It’s just an attempt to not let us have legislation; plain and simple. As John McKechnie said at the State GAC in Florida a few weeks ago, when we take the fight against banks to our membership and let them help us tell the story, banks can’t refute what we are doing for them. Banks cannot refute what Mr. McMullen told our members of Congress. He said his line of credit from his bank was cut. His credit union was there for him, but the MBL cap is keeping it from being able to accommodate his current and future needs.

The League would like all of you reading this to consider coming to Washington, D.C. with us in March and have these types of conversations with our delegation during the CUNA GAC. MBL, Supplemental Capital and our tax-exemption will be the main topics. We have momentum on these issues and we need a great turnout at the GAC to drive these issues home with lawmakers as well as help defeat a community bank regulatory relief bill. We’re telling Congress that if you want to provide regulatory relief for community banks, you should also allow the MBL cap to be raised. CUNA and the League are doing what we can to tee up the conversation. We need you to help us deliver that message.

I welcome your thoughts and feedback.


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LSCU Top Headlines
This week's top League headlines

Supplemental Capital legislation introduced
Reps. Peter King (R-NY) and Brad Sherman (D-CA) introduced HR 3993, a bill to allow credit unions access to  supplemental capital. The capital would have to be uninsured and subordinate to other claims against a credit union. The bill also authorizes the NCUA to set maturity limits on this capital and restrict the ability to raise supplemental capital to credit unions that are sufficiently capitalized and well-managed. Click here to read more. The LSCU is also sending a letter supporting the legislation.

Rep. Bachus joins CUNA GAC lineup
As the CUNA GAC approaches, more lawmakers are being added to the lineup of speakers. House Financial Services Chairman Spencer Bachus of Alabama will speak on Wednesday. Rep. Bachus calls credit unions "an integral part of our financial system." He authored legislation to raise the federal deposit insurance level for banks and credit unions to $250,000. Click here for more information on the CUNA GAC.

Game Change authors highlight 3rd Annual LSCU AC&E
Credit unions will get a unique look at the 2012 presidential election through the eyes of two people who know many of the major players, including President Obama. Game Change authors Mark Halperin and John Heilemann will share their unique insights. HBO will also debut Game Change in March. The 3rd annual LSCU Annual Convention and Exposition (AC&E) is coming up June 13-16 at the JW Marriott in Orlando. It's back to its traditional Wednesday through Saturday schedule and the price for a room has dropped. Credit unions will learn more about "The Power of One." To see all of the education sessions and to register, visit the LSCU AC&E website. 

February NCUA Report is now available
The NCUA's flagship publication looks at important NCUA board actions and key issues that credit union volunteers and management need to know.  It is a one-stop resource to gain a greater understanding of how the NCUA comes to its decisions. Click here to read the February issue that includes a look at fraud, the economy and corporate stabilization tools.

Financial Brand looks at Bank Transfer data
The Financial Brand, an industry website that  looks at banks and credit unions, has an article on the impact of Bank Transfer Day. The article cites a recent Javelin Study and Research project where 5,800 people were surveyed about Bank Transfer Day. Javelin's findings were similar to CUNA's, but it also looked at why people didn't transfer. Technology was the main ingredient.  Click here to read the report.  [ Return to Top ]

Governmental Affairs News
This week in Alabama politics: House focusing on jobs program, legislation of note

The House spent its time working on the leadership’s jobs program. These bills mainly deal with a number of different tax incentives for businesses that are either currently located or relocating to Alabama. There was a small amount of disagreement on some of the measures due to the fact that the money used for the incentives will come from the Education Trust Fund in the form of fewer taxes collected from the entities. One bill, a constitutional amendment, is left and there should be more of a fight on this measure as the House reconvenes tomorrow.  The Senate worked on a number of non-controversial pieces of legislation, waiting for the House to pass and send the jobs package to the seventh floor. The Senate should take the bills up by Thursday of this week.

The League has been continually working on your legislative agenda, and has seen significant progress. A bill to allow credit unions in Alabama to accept public deposits should be filed on Tuesday in the Senate, and a companion bill may be filed in the House on the same day. The League is continuing to work with the leadership on this issue and as soon as the bill numbers and committee assignments are known, it will let you know. Grassroots support is crucial to this effort and the League will need all of you actively involved. LSCU PAC and Grassroots Coordinator Blake Westbrook will be in contact with you as the legislation is advances forward in order to coordinate League efforts.

In addition to public deposits, the League expects legislation reducing the redemption period on foreclosed property to be introduced shortly. The League has met with other associations representing financial institutions and will be very active in the push to seeing this measure passed. Also, there has not been any legislation regarding the small business lending authority mentioned in other updates. As soon as this and the right of redemption legislation are introduced, the Governmental Affairs team will let you know.

Synopsis of other legislation of note that has been introduced of interest to credit unions:

HB 177 by Rep. Steve Clouse (R-Ozark) – Under existing law, excess funds arising from the sale of any real estate for taxes may be paid to the owner of the property that has been sold.  HB 177 will clarify the owner of the property to receive these excess funds includes holders of recorded mortgages and establishes a priority of distribution based on who is the holder of any recorded first mortgage on the date of the tax sale and then others to follow.

HB 213 by Rep. Dexter Grimsley (D-Newville) – This is identical legislation to what was introduced during the last legislative session regarding credit unions having to obtain a used motor vehicle dealer license. Currently credit unions are already excluded from having to obtain a license due to language in the law, but this legislation further clarifies the law by adding credit union specific language.

Don't forget to follow the GA team updates on twitter throughout the session by clicking 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: Legislation taking shape, continuing legislative push

Florida Politics Week in Review

As reported last week, the gaming issue, which has garnered a massive amount of media attention, is all but dead for the 2012 session, and both chambers have moved on.

The biggest news out of week five of the session was Thursday’s passage of the budget by the Florida House. The $69.2 billion proposal for Fiscal Year 2012-13 was debated at length and passed on a party line vote of 79-to-38. The Senate released their spending plan on Friday, a $70.8 billion budget, and are expected to debate, and pass the bill this week in committee, and then send it to the Senate floor. Once the Senate passes their version of the bill, the two chambers will form conference committees, likely next week, to work on issues where they differ in hopes that a final budget can be passed before the end of the 60-day regular session.

The new congressional and state legislative maps have, as expected, passed the Senate. The state maps were then sent to the attorney general for review while the Congressional map was headed to the governor’s desk. Attorney General Pam Bondi has since asked the Florida Supreme Court to review the legislative maps. Justices now have 30 days to decide whether the plan complies with the Florida Constitution, including the new anti-gerrymandering amendments passed in 2010. The governor must decide whether to sign the congressional plan or reject it and ask lawmakers to start over, though it is widely thought that he will sign the plan. Democrats have already sued in circuit court alleging the map violates the 2010 amendment. The League will continue to keep you abreast of the happenings with the maps, as well as what the changes mean for both the Florida Legislature and Congress.

As the Governmental Affairs (GA) team will do all session long and beyond, the GA team continues to meet with legislative leaders in order to ensure that interest in the public deposits issue does not die. GA will continue to educate lawmakers on the benefits of allowing credit unions to act as qualified public depositories, as well as the benefits of the credit union difference. The GA team also continues to work with legislators to help with the foreclosure crisis in Florida. Measures that would help speed up the process in Florida have finally begun to move through the legislature, though it’s unclear whether they will ever pass through both chambers. While there is no bill that would create a non-judicial foreclosure bill in Florida, HB 213 by Rep. Kathleen Passidomo (R-Naples) passed its first committee in the House. The bill would require banks to have all of their paperwork in order, including information on the note and assignments of mortgage, before a foreclosure is filed. It also would give banks only two years, instead of the current five, to file for a deficiency judgment against the borrower. The Senate companion, SB 1890 by Sen. Jack Latvala (R-St. Petersburg) has stalled in the Senate Judiciary Committee.

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

Should you have any questions about 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: President Obama submitting budget, complete committee schedules

Floor Schedule
Later Monday, the fiscal year 2013 budget process begins when the president submits his budget for the next year. That will really be the big story of the week from Capitol Hill, with several committee hearings featuring prominent officials from the administration.

The Senate comes back Monday and will consider judicial nominations. Tomorrow and the balance of the week, the Senate is expected to consider S. 1813, the Moving Ahead for Progress in the 21st Century Act (MAP-21). This is the Senate version of the transportation authorization bill.

The House comes back on Tuesday and will consider bills under suspension of the rules. On Wednesday and the balance of the week, the House will consider H.R. 7, the American Energy and Infrastructure Jobs Act of 2012, the House version of the transportation authorization bill. If the conference report on H.R. 3630, Temporary Payroll Tax Cut Continuation Act of 2011, is completed the House could consider this legislation as well.

Committee Schedule
As usual, the League is following several committee meetings on both sides of the Capitol. Many of this week’s hearings have to do with the president’s budget. The interest here is multifaceted: first, there are a handful of programs that support credit union activity which are subject to the appropriations process, and the president’s budget generally provides a starting point for lobbying these areas through the year. Secondly, the budget may also propose revenue changes and, while it is not expected the budget will propose changes to credit union tax status, the League remains ever-vigilant.

To read the complete News from the Hill Update including the full committee schedule for the House and Senate, click here.

For questions about the News from the Hill Update, contact LSCU SVP, Governmental Affairs Will McCarty at 866.231.0545, ext. 2137.

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GTE FCU receives CUPAC award

LSCU CUPAC board of trustees Chair Mary Wood awards GTE FCU EVP/COO E.C. Williams with the credit union's first-place award for most CUPAC money raised by a credit union with $500 million plus in assets.

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Compliance Corner
League InfoSight highlight: Fair Credit Reporting Act

The current edition of the League InfoSight newsletter covers the significance of the Fair Credit Reporting Act for credit unions and credit union members. 

The purpose of the Fair Credit Reporting Act (FCRA) is to ensure fair and accurate reporting of consumer credit information. It regulates "consumer reporting agencies," including credit bureaus; restricts the use of consumer reports to their legitimate purposes; prohibits the dissemination of outdated credit information; and requires disclosure to consumers and employees when adverse action is taken as the result of credit reports or other consumer information.

The FCRA applies any time a credit report is used as a factor in establishing a member's eligibility for or in making changes to the member's consumer credit, share or deposit accounts and other services. It also applies when credit reports are used in hiring or other employment decisions.

To read more about  the Fair Credit Reporting Act 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.

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CUNA Regulatory Advocacy Report - Week of Feb. 13

This week, the CUNA Regulatory and Advocacy Report covers stories on: why state credit unions should not be disadvantaged by dispute between NCUA and NC credit union regulator, CUNA circulates its draft comment letter on NCUA’s Loan Participation Proposal, NCUA’s TDR Proposal seems generally favorable, CUNA meets with CFPB Director Richard Cordray, summary of CFPB/NCUA town hall meeting, and more.

Click here to read the complete CUNA Regulatory and Advocacy Report. [ Return to Top ]

NCUA revises Loan Workouts, TDRs, Nonaccrual Policy

NCUA has proposed new rules for loan workouts and troubled debt restructurings that will cover how federally insured credit unions account for delinquencies, charge-offs and income related to troubled home mortgages and member business loans, as well as for how those loans are reported on NCUA's quarterly Call Reports. The proposal, if adopted, will require written loan workout policies describing loan eligibility for modifications, limits on modifications, and timely recognition of losses and non-accruals.

The new approach comes as lenders struggle to address troubled loans and the need to modify or restructure the terms of those loans. NCUA states that the number of modified loans on the books of credit unions have almost doubled since 2009 to 350,000. The new rule will be effective Sept. 30, 2012.

Click here to read the complete NCUA Comment Call.

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Compliance calendar and training

February 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
        Join SECUF in helping kids with 'All Children's Service Project'

        Join the Southeastern Credit Union Foundation (SECUF) and America's Credit Unions in raising funds to build this therapeutic playground in honor of the Republican National Convention at All Children's Hospital in St. Petersburg, FL. This is a collaborative effort to enhance the mission of credit unions, and enriching the philosophy of "people helping people." Learn more today, by visiting the SECUF website.

        You can also stay up-to-date on SECUF community initiatives by visiting the Foundation's facebook page. [ Return to Top ]

        Small Credit Union Workshops inform, educate

        Chuck Brandon updates credit unions on NCUA exams and supervision.

        The League hosted the 2012 Small Credit Union Workshops – Feb. 7 at Suncoast Schools Federal Credit Union in Tampa and Feb. 9 at APCO Credit Union in Birmingham. More than 55 credit union attendees from both states heard a variety of speakers focused on the issues credit unions face every day.

        One attendee said, “This is the best, most informative Small Credit Union Conference I have ever attended.”

        Jim Warren, CEO of Tyndall Federal Credit Union based in Panama City, provided insight into his credit union’s collection programs and NCUA Economic Development Specialists Chuck Brandon and Lisa Terrell provided an exam and supervision update, which highlighted the target areas the NCUA will be focusing on in the coming year.

        In Florida, the lunch speaker was Rob Lefkowitz, highlighting the growing CRASH movement among young credit union professionals and in Alabama, Lee Taylor  showcased the Young & Free Program. Each one-day workshop also featured a state of the credit union movement overview, a compliance overview and a lending panel made up of credit union executives.

        All of the materials from both workshops, including the NCUA worksheets, are currently available online in the Small Asset Size Toolkit.

        A near packed house listened in during the SAS Workshop in Birmingham.


          [ Return to Top ]

        Communications News
        LSCU Image Campaign and America's First FCU win Addy awards

        At the 54th Annual Birmingham Addy awards, Scout Branding won four awards, two gold and two silver. Scout won gold for cinematography for the LSCU Image Campaign television ad and gold for America's First FCU ad where a father needs a credit card to pay for his daughter's braces.

        Scout won silver for the LSCU Image Campaign website, www.betternameforbanking.com, and America's First radio ad for its 75th anniversary.

        The LSCU Image Campaign also was awarded Merit recognition by the Service Industry Advertising Awards. More than 1,000 companies vie for the 146 awards given by the SIAA. 

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        Education News
        Register for LSCU Council meeting on April 3 in Montgomery

        Join your peers at the next LSCU Council meeting in Montgomery on April 3. The councils offer the best regional opportunity for you to stay abreast of trends in your profession, hear the timeliest topics from top speakers and stay connected with your industry peers in Alabama and Florida.

        The LSCU Councils are designed for CFOs, HR Professionals, Lending Professionals, Marketing and Business Development, Operations, Sales & Service Professionals, as well as Technology Professionals.

        Price: $199/person and includes continental breakfast and lunch.

        Council Sessions:

        CFO: Strategic Considerations for Credit Unions: Navigating the Economic Regulatory Maelstorm, Paul Leavell, Strategic Consultant with Raddon Financial Group

        HR/Training and Development: 5 Ways to Elevate Your HR Game By Thinking Like a Money-Hungry VP of Sales, Kris Dunn, SPHR, Chief Human Resources Officer for Kinetix

        Marketing & Business Development: What’s Next? Emerging Trends in Social Media, Ryan Cohn, CEO, What’s Next Marketing

        Lending: True Grit: How analytics Can Help You Automate Lending Decisions With Confidence, Kristin Corts, Statistical Analyst and Kathy Kieffer, Director of Business Development for Decision Services with CRIF

        Operations, Sales & Service: Dialog Banking in “The New Normal”, morning session, Extreme Makeover: From ‘Old School’ to ‘New School’ – The Evolution of Innovations, afternoon session David Southall, CEO Innovations Federal Credit Union

        Technology: Payments Innovation through Technology, Suzanne Savage, President Savage Consulting Group

        To register, click here. For more information, contact LEVERAGE Director, Product Management/Executive Recruiter Lisa Hammock at 866.231.0545, ext. 1146.

        Don't forget to like LSCU Councils on facebook for updated information and topic details!
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        Make sure your credit union participates in 2012 BSA Training Workshops

        2012 BSA Training Workshops
        The Bank Secrecy Act requires financial institutions to assist federal and state agencies in detecting and preventing money laundering. Specifically, the Act requires financial institutions to report suspicious activity that might signify money laundering or other criminal activities.

        BSA regulations require all financial institutions to submit Currency Transaction Reports to the government for any currency transaction (deposit or withdrawal) of more than $10,000. There are heavy penalties for institutions that fail to file these reports. Penalties include significant fines and prison sentences.

        The LSCU BSA Training workshop is appropriate for frontline staff, lenders, managers, and compliance officers. The two-and-a-half hour training incorporates a Currency Transaction Report workshop as well as a Suspicious Activity Report workshop in which completed forms are studied based on several common scenarios (focusing on narrative preparation). Attendees will also hear about Bank Secrecy Act program oversight, creation and maintenance, risk assessment, filing requirements, technology, member/vendor due diligence, the Bank Secrecy Act, plus much more.

        The registration fee is $65 per person, per session. Visit the LSCU Education Calendar to register, or find hotel information.

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        Education Calendar

        Upcoming Events:

        Wednesday, February 15
        Tax Refunds: Posting & Exceptions
        3 p.m. to 4:30 p.m. EST

        Thursday, February 16
        Lending Series: Understanding Borrowers' Tax Returns, Part 1: Basics, Itemized Deductions, Interest & Dividend Income & Sole Proprietorships (Schedule C)
        3 p.m. to 4:30 p.m. EST

        Wednesday, February 22
        BSA Training Workshop - Jacksonville
        9 a.m. to 11:30 a.m. EST (Morning)
        1 p.m. to 3:30 p.m. EST (Afternoon)

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

          [ Return to Top ]

        LEVERAGE News
        LEVERAGE touts group purchasing power on CU Insight

        The CU Insight website features a LEVERAGE article that looks at credit union collaboration and how credit unions have group purchasing power. The article, housed in the CU Community page, is authored by LEVERAGE COO Marvin Garland.

        He writes that "Group purchasing is a proven process that can assist credit unions in utilizing their purchasing power to engage suppliers, manage their needs, and produce real savings back to the credit union." The article also states that saving money on computer purchasing, janitorial services or armored car services certainly won't make office headlines, but when the financials come out they certainly will see the savings.

        To read the entire article, click here. To learn more about LEVERAGE's powerful ePurchasing, powered by Ventelligence, where credit unions are saving an average of 28 percent on new contracts, contact a LEVERAGE Business Development Consultant.

          [ Return to Top ]

        LEVERAGE partner Office Depot named finalist in Stevie Awards for sales, customer service

        Highlighting how LEVERAGEcontinually partners with best-in-class companies to save credit unions time and money, Office Depot has been named a Stevie Awards finalist.

        The international competition recognizes excellence in disciplines that are crucial to business success, and honors the accomplishments of sales, customer service, and call/contact center professionals worldwide.

        Office Depot is a finalist in the following five categories:

        • Sales Support Team of the Year: An innovative Sales Support Team helps Office Depots sales force improve productivity.
        • Front-Line Customer Service Team of the Year -- All Other Industries: Office Depot deploys proactive web chat and email support.
        • Contact Center of the Year (Over 100 Seats): Office Depots Work at Home Call Center.
        • Best Use of Technology in Customer Service -- All Other Industries: Office Depot utilizes technology to deliver breakthrough performance.
        • Customer Service Complaints Team of the Year: Office Depots Customer Relations Team skillfully handles the Companys most difficult service challenges.

        "Being named a finalist in five categories is a testament to Office Depot's commitment to customer focus, which is one of our core values," said Office Depot Vice President of Customer Service Tim McGrath. "We help our customers succeed in business by listening to their needs and delivering on our promises."

        More than 1,000 entries from organizations of all sizes and in virtually every industry were submitted to this year's competition, which has 27 categories for customer service. More than 100 members of seven specialized judging committees will determine Stevie Award placements from among the finalists. Finalists were chosen by business professionals worldwide during preliminary judging. The sixth annual Stevie® Awards for Sales & Customer Service will be presented at a gala banquet event in Las Vegas in late-February.

        Office Depot won a Stevie Award in 2009 for Customer Service Team of the Year. Recovery, which recognized excellence in the handling and resolving of customer issues, and in 2004 for Capturing the Customer Experience, which recognized the process of utilizing the Voice of the Customer for process improvement.

        [ Return to Top ]

        LEVERAGE marketing wins four awards

        LEVERAGE and the League were recently honored with five awards from the Service Industry Advertising Awards (SIAA). LEVERAGE won a gold for a direct mail piece for TitleAuctions. The piece was clear with a car coming at the reader.

        Among the other awards for LEVERAGE was a bronze for the League Annual Convention materials and two merits for Signal magazine and the Southeastern Credit Union Foundation logo and letterhead. The League was awarded a merit for the 2011 Image Campaign. 

        The SIAA is in its ninth year with more than 2,000 entries from around the country. Each year eight groups and 27 categories are awarded. The judges saw entries from 400 agencies and 1,000 institutions including LEVERAGE and the League.  [ Return to Top ]

        News from You
        Pen Air FCU opens first Escambia County student-run CU

        The Wildcat Credit Union is Pen Air FCU’s first student-run credit union in Escambia County, Fla.

        Wildcat Credit Union’s mission is to create a unique, hands-on learning experience for the students through financial and professional education. The student-run credit union is exclusive to Washington High School students and staff.

        “We are so excited to sponsor Wildcat Credit Union,” Kim Grosso, Pen Air FCU student-run head teller said. “The students are the reason we operate these credit unions. Our overall goal is to enhance the student’s daily lives and teach them about financial responsibility.”

        The credit union operates in conjunction with high school’s eCommerce Marketing class and academy program to offer financial success tools to high school seniors, and also school credit hours. The students that utilize the credit union will gain life skills in the areas of personal finance and budgeting. Students working in the credit union are overseen by a Pen Air FCU employee. Teachers, staff and students who are already Pen Air FCU members find the student-run branch convenient.

        “We are thrilled about our partnership with Booker T. Washington High School,” Pen Air FCU Interim President and CEO David Tuyo said. “At Pen Air FCU, we believe in giving back to our local community and supporting our schools. By investing in our schools, we are ensuring success for the future.”

        Pen Air FCU also has three other student-run credit unions, located in Santa Rosa County, which are Panther Credit Union at Milton High School, Patriot Credit Union at Pace High School and Royal Credit Union at Jay High School. [ 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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