LSCU eSignal Weekly
LSCU eNews Weekly April 2, 2012
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LSCU eNews Weekly
In This Issue
President's Point
LSCU board of director nominations coming this week
LSCU Top Headlines
This week's top League headlines
Governmental Affairs News
This week in Alabama politics: 2012 State GAC kicks off this week, legislators back from break
This week in Florida politics: Redistricting map completed, now left to Supreme Court
Credit union Congressional meetings yield results
Webinar on new DEO program geared toward increasing capital for small businesses next week
Compliance Corner
League InfoSight highlight: Elder Financial Exploitation
CUNA Regulatory Advocacy Report - Week of April 2, 2012
Compliance calendar and training
Education News
LSCU AC&E features golf on a PGA course
AC&E Early Bird registration open until April 16
Education Calendar
Shared Branching News
Florida Credit Union Shared Services elects new chairman
LEVERAGE News
Register for CMG Discovery webinars in April
Enhanced GM program looks to drive more loans to your credit union
JMFA program brings major benefits to credit union
News from You
Tampa Chapter holds 19th Annual Golf Classic
EMPLOYMENT
View available credit union jobs
In This Issue
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President's Point

LSCU board of director nominations coming this week

This week credit unions will be receiving information regarding the LSCU’s 2012 board elections. Elections will be held for four director seats expiring this year as designated by the LSCU board of directors to ensure compliance with LSCU Bylaws.  This year in Alabama there will be one Class A seat and one Class C seat up for election. In Florida, there will be two Class A seats up for election. The membership size categories are as follows:

  • Class A: Credit unions with fewer than 2,000 members
  • Class B: Credit unions with not less than 2,000 members, but not more than 15,000 members
  • Class C: Credit unions with not less than 15,000 members, but not more than 40,000 members
  • Class D: Credit unions with 40,000 or more members

The LSCU Bylaws state that the board should have equal representation for the makeup of our credit unions. That’s why we have two seats in Classes A, B, C and D in each state. This gives all of our credit unions an equal voice at the governance level of the League. All three Class A seats are open with no incumbents running. So, we’re looking for three new board members. The only incumbent seat we have is Class C in Alabama currently held by Five Star CU CEO Bob Steensma. The official Nomination and Certification Form must be received no later than 4 p.m. CST/5 p.m. EST on Friday, April 20 to be eligible for nomination. After all candidates are properly certified to run, we will be sending out an electronic ballot this year in an effort to both increase participation and make the voting process as easy as possible.

I highly encourage eligible credit unions to consider submitting a nomination for the board or running yourself.  The LSCU board meets approximately four times a year; basically once a quarter. The first- and fourth-quarter meetings are usually held in the League’s Birmingham office. The second-quarter meeting is in conjunction with the AC&E in Orlando and the third-quarter meeting is held in conjunction with the board’s fall planning retreat, which could be either in Alabama or Florida. Travel cost for these meetings are covered by the LSCU.

For those considering running, it’s important that you be prepared to be actively involved in the credit union movement – at the Chapter, League and CUNA levels. The LSCU board of directors are the League’s ambassadors.  That means attending Chapter meetings and many of the League functions for credit unions like the State GAC in your state, the CUNA GAC, the AC&E, our fall Hike the Hill and the Development Conference. You are considered a leader in the Alabama and Florida credit union movement when you’re on the League board and many credit unions will be following your lead and expect to see you at these events.   

By being actively involved in the credit union movement, board members ensure that the board is conveying to League senior management the views of member credit unions. It’s also important that our board commits to attending many of the League events to let the other credit unions in their Chapter know what the League is doing on their behalf and encourage more to become actively engaged.

Look for the nomination forms by the middle of this week. I hope you will take some time to identify a qualified and eligible credit union official(s) that you think will best represent the interest of our Alabama and Florida credit unions on the LSCU board of directors. Being on the board can be a rewarding experience; especially for those willing to be active and engaged ambassadors. 

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

LSCU Top Headlines
This week's top League headlines

La Pine's video message: Call your senator today about MBLs
LSCU President/CEO Patrick La Pine emailed a video message late last week asking credit unions to contact their senator and ask them to support member business lending. With a vote coming possibly in April, it's important credit unions contact Sens. Marco Rubio (R-FL), Jeff Sessions (R-AL) and Richard Shelby (R-AL) and ask them to support raising the MBL cap. Sen. Bill Nelson (D-FL) is a co-sponsor. Visit the LSCU Video Room to view the video. 

Jefferson CU video features MBL message
Jefferson CU, based in Birmingham, has put together a short video highlighting its MBL program. The video shows the grand opening of Scotts Flooring in Hueytown, AL and how Jefferson CU helped to make it a reality. It's a great example of how credit unions help small businesses. More credit unions are encouraged to put together videos like Jefferson's. You can view it by clicking here

Global Payments, Inc. says close to 1.5 million user accounts hacked
Global Payments Inc. hinted on April 1 that about 1.5 million consumers were impacted by the massive credit card hack that first came to light on March 30, fewer than the 10 million that was initially reported. To read the complete credit card hacking story from MSN, click here.

NCUA's Matz opens registration for free Listening Session
Coming up on May 9. NCUA Chairman Debbie Matz will hold her second Listening Session for credit unions. The sessions are geared for credit union CEOs, executives and volunteers to give the NCUA feedback. There will also be a Listening Session in Orlando June 12. For more information on both and to register, click here.

Florida unemployment falls to a three-year low
Florida's unemployment fell again in February, dropping to 9.4 percent, a three-year low, the state said Friday. January's rate was 9.6 percent. To read the full story the SunSentinel, click here.

[ Return to Top ]

Governmental Affairs News
This week in Alabama politics: 2012 State GAC kicks off this week, legislators back from break

Alabama Legislative Update

With the legislative session officially at the halfway mark, the League expects to see the lawmakers in Montgomery begin to address issues such as the Education Trust Fund and General Fund Budget as well as continue with the 2012 theme of creating more jobs. So far, the session has had very little controversy and with Republicans controlling a super-majority in both houses, the second half should not be much different. Of course there will be minor disagreements on certain non-partisan bills, and there still hasn’t been the annual Jefferson County delegation meltdown, but at this point all signs are pointing to a smooth ending.

This week many of you will be in Montgomery to attend the 2012 State GAC, and the League is excited to be hosting this event again. There are many informative work sessions, a legislative reception, and a trip to the Alabama Statehouse in order to see your legislators face-to-face and watch them work.  Whether it is five minutes or 30, the time you spend with legislators is important. With public deposit legislation being introduced for the first time, a bill filed to raid the Alabama Credit Union Administration, and numerous other attacks on financial industries (mainly aimed at banks, but unfortunately credit unions are affected as well), it is crucial that credit union CEOs and staff build a relationship and even a friendship with those that represent you in Montgomery.  These friendships open doors for discussion and ensure that credit union-friendly legislators are looking out for you on a daily basis.

We look forward to seeing all of you in Montgomery this week and if you haven’t registered for the 2012 State GAC, you can do so by clicking here. You will not regret it and your involvement in the political process is essential to the credit union movement.

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: Redistricting map completed, now left to Supreme Court

Florida Politics Week in Review:

The state's new redistricting map, which had been sent back to the legislature by the Florida Supreme Court after being ruled unconstitutional, was completed during a special session, which culminated with the March 27 61-to-47 vote in favor. The vote was closer than the previously approved map because 11 Republicans, mostly from the Miami Delegation, joined Democrats in opposition of the plan. The Republican opponents argued the Senate map violates a Fair Districts provision in the Florida Constitution that protects minority voting rights. They said census figures easily would support a fourth Hispanic district in South Florida, yet, the map has only three. The previous map had no incumbents placed in the same district, while this map has only two incumbents set to face each other, Sen. David Simmons (R-Maitland) and Sen. Andy Gardiner (R-Orlando), though Simmons has already said he will move to avoid facing Gardiner in the primary. Once the Attorney General petitions the Supreme Court for review, they will have 30 days to either approve the map or redraw the map themselves. The League’s Governmental Affairs (GA) team will continue to monitor the redistricting situation in order to help shape the "Get Out the Vote" activities. More information will be forthcoming.

The GA team will also continue to focus on meeting with district members to educate them on the importance of credit unions, what its priority issues will be heading into the 2013 Legislative Session, and why it believes credit unions are the best choice for consumers.

To read the complete Florida Politics Week in Review including more 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 ]

Credit union Congressional meetings yield results

Rep. Jo Bonner (R-AL) greets Azalea City CU CEO Ola Anise.

Nearly 140 credit union officials from Alabama and Florida participated in these important meetings, discussing three major legislative initiatives with elected officials. Increasing member business lending authority for credit unions, legislation to better ensure fairness in the exam process for credit unions, and legislation to allow credit unions to accept secondary capitol were all discussed in each office.

Since those meetings, seven members of the League’s two delegations have signed on as co-sponsors on one or more of the bills for which credit unions asked their support.

After the meetings, Rep. Bill Posey (R-FL) signed on as a co-sponsor of H.R. 3993, to allow credit unions to accept secondary capital, joining Rep. Jeff Miller (R-FL), who was already a co-sponsor.

Also since the CUNA GAC two weeks ago, six more co-sponsors from Alabama and Florida have been added to H.R. 3461, the Exam Fairness bill.  Since the Hill visits, Florida Reps. Debbie Wasserman-Shultz (D), Sandy Adams (R), Allen West (R), Ander Crenshaw (R), and Kathy Castor (R) have signed on as co-sponsors, bringing the Florida delegation to 15. From the Alabama delegation, Rep. Jo Bonner (R) has joined Rep. Spencer Bachus (R) as a co-sponsor of the bill. In total, the bill now has 154 co-sponsors.  In follow-up conversations with other offices, the League expects to see more members go on one or both of these bills in the coming days. [ Return to Top ]

Webinar on new DEO program geared toward increasing capital for small businesses next week

The League recently announced an exciting opportunity for credit unions. The Florida Capital Access Program (FL-CAP) is a new program developed by the Florida Department of Economic Opportunity (DEO), in conjunction with the federal government. The FL-CAP will work with credit unions and other eligible financial institutions (Lenders) to increase capital opportunities for entrepreneurs and small businesses who might not otherwise qualify for conventional financing. The FL-CAP aims to build the Florida economy by allowing more small businesses to expand their operations and create new jobs. The League will be hosting a webinar in conjunction with the DEO on Monday, April 10 at 10 a.m. To register for the webinar click here.

FL-CAP provides matching loan-loss reserves for loans that fall just outside a lending institution’s normal underwriting standards, by depositing the funds into a pooled account at the participating Lender’s institution. It is expected to enable up to $200 million in business lending. Businesses located in Florida with 500 or fewer employees are eligible for loans under the program. The maximum loan amount is $5 million.

Loans may be used to finance any business purpose including start-up costs, working capital, business procurement, franchise fees, equipment, inventory, as well as the purchase, construction renovation or tenant improvements of an eligible place of business that is not for passive real estate investment purposes. Nonprofits must have sustainable financial operations. The program has some limitations on passive real estate and refinancing of existing debt.

The FL-CAP will be funded at $20.6 million over the next two years. Gov. Rick Scott designated the DEO to administer the Florida program.

For more information about the program and how to participate, click here. [ Return to Top ]

Compliance Corner
League InfoSight highlight: Elder Financial Exploitation

The current edition of the League InfoSight newsletter focuses on the increasing crime known as elder financial abuse.

Older Americans hold a high concentration of wealth as compared to the general population. In the instances where elderly individuals experience declining cognitive or physical abilities, they may find themselves more reliant on specific individuals for their physical well-being, financial management, and social interaction. While anyone can be a victim of a financial crime such as identity theft, embezzlement, and fraudulent schemes, certain elderly individuals may be particularly vulnerable.

Elder financial or material exploitation is defined as the illegal or improper use of an elder's funds, property, or assets. Examples include, but are not limited to, cashing an elderly person's checks without authorization or permission; forging an older person's signature; and the improper use of conservatorship, guardianship, or power of attorney.

To find out more about the Elder Financial Abuse topic and what steps to take to combat it, visit League InfoSight.

For more helpful reminders and tips, view the League InfoSight newsletter. Members must login to the League website (www.lscu.coop) with username and password. If you do not have access to the League website, click here to sign up. After you are logged in to www.lscu.coop, locate the InfoSight block (see graphic below) in the upper right of any of the LSCU web pages, choose your state, and click "GO."


  [ Return to Top ]

CUNA Regulatory Advocacy Report - Week of April 2, 2012

The latest edition of the CUNA Regulatory Advocacy Report covers: CUNA joins leagues and others in submitting nominations to the CFPB, FTC report on Privacy Best Practices Framework, Senate confirms Tom Curry as new head of OCC, and much more.

The CUNA Regulatory Advocacy Report offers valuable information for credit unions on the ever-changing regulatory legislation affecting credit unions.

To read the most recent CUNA Regulatory Advocacy Report, click here. [ Return to Top ]

Compliance calendar and training

April 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 ]

          Education News
          LSCU AC&E features golf on a PGA course

          Each year the LSCU AC&E golf tournament is played on the Ritz Carlton Golf Club on the property of the JW Marriott. It's an opportunity to play one of the best courses in the area while helping to benefit the Children's Miracle Network. Attendees can play a relaxing round of golf Saturday June 16 while networking with peers. 

          To make the ACE&E golf tournament even more exciting this year is the fact that the PGA just announced that it is bringing back the Father/Son Challenge and it will be played at the Ritz Carlton Golf Club in December. So now your golf experience at the AC&E is raised to another level. Not only will you be helping a good cause in CMN, but you can test your skills on a course where some of the greatest names in professional golf will also play later in the year.

          The AC&E is June 13-16 at the JW Marriott. Game Change authors Mark Halperin and John Heilemann will provide the keynote address. Game Change is a best selling book on the 2008 presidential elections and now an HBO movie. NCUA Chairman Debbie Matz is also scheduled to speak. 

          To register for the AC&E, visit the LSCU Convention website.  [ Return to Top ]

          AC&E Early Bird registration open until April 16

          The League has extended the deadline for Early Bird pricing for June's Annual Convention and Exposition (AC&E). Credit unions have until April 16 to register and receive a discounted price for the convention. This includes registered guests as well.

          The LSCU AC&E, June 13-16 at the JW Marriott in Orlando, features 20 educational opportunities, one of the largest exhibit halls in the country and a dinner/entertainment show with 10-year-old piano sensation Ethan Bortnick performing.

          Register today to receive the discount on top of lower room prices this year. Visit the LSCU Convention website for more information and to register.  [ Return to Top ]

          Education Calendar

          Upcoming Events:

          Tuesday, April 3
          LCSU Council Meeting
          Renaissance Montgomery Hotel & Spa - Montgomery, AL
          11 a.m. to 7:30 p.m. EST

          Wednesday-Thursday, April 4-5
          Alabama State Governmental Affairs Conference
          Renaissance Montgomery Hotel & Spa - Montgomery, AL

          Wednesday, April 11
          Bank Secrecy Act Training Workshop
          Blue Flame Credit Union - Mobile, AL
          Morning Session - 9 to 11:30 a.m. CST
          Afternoon Session - 1 to 3:30 p.m. CST

          To view the full 2012 LSCU Education Calendar of Events, click here. [ Return to Top ]

          Shared Branching News
          Florida Credit Union Shared Services elects new chairman

          The Florida Credit Union Shared Services (FCUSS) held board elections at its March 30 meeting last week. Power Financial CU CEO Allan Prindle was elected as the new chairman of FCUSS with 1-2-1 Financial CU CEO Bill Braddock being re-elected to vice chairman. Rounding out the FCUSS officers is Miami Postal Services CU CEO Jace Reyes as treasure and Central CU of Florida CEO Carolyn Dwelle as secretary. The officers terms are for one year.

          Re-elected to three-year directors terms were: 

          • Art Wood, III, CEO,  Railroad and Industrial FCU
          • Carolyn Dwelle
          • Jace Reyes

          The newest member of the FCUSS board is USF FCU CEO Rick Skaggs. He replaces BrightStar CU CEO Raffael Crockett whose term was up and chose not to run again. 

          There are currently more than 250 shared branching locations in Florida. To learn more about shared branching, visit the FCUSS website.  [ Return to Top ]

          LEVERAGE News
          Register for CMG Discovery webinars in April

          The CUNA Mutual Group's webinar events will be hosted by the company’s John Putman, lending business systems director, Bill Klewin, product compliance leader, and Lauren Calhoun, compliance manager.

          Putman will present “Mobile Lending: The Trends and Issues Impacting Your Credit Union,” at 12:15 p.m. CDT, April 11. The presentation will explore trends and issues surrounding mobile technologies and discuss what’s driving their incredible pace of adoption with credit unions and their members. Putman will examine the demographic shift in credit union membership, why members are embracing smartphones for their mobile banking and new mobile lending needs, and review social media's emerging role in how credit unions communicate with members.

          On April 18, Klewin and Calhoun will look at the regulatory horizon for this year and what should be on credit unions' compliance radars. They will also discuss the direction of the Consumer Financial Protection Bureau and the National Credit Union Administration and explain how changes in the regulatory and enforcement structure may affect credit unions. “Regulatory Compliance Update,” will begin at 12:15 p.m. CDT.

          Both Discovery Webinars are free, 60-minute events that include live question-and-answer sessions. For more webinar information or to register, click here. Multiple employees of individual credit unions and credit union leagues are encouraged to join the sessions. [ Return to Top ]

          Enhanced GM program looks to drive more loans to your credit union

          LEVERAGE partner, Invest in America, has recently enhanced its Credit Union Member Discount program from General Motors (GM) to drive more loans to credit unions. Invest in America has increased the program benefits in multiple ways. The new benefits include special employee pricing for credit union employees with non-GM vehicle, web banners, email templates, access to GM special offers, website and social media content, and much more. 

          Credit unions can choose from two levels of participation – Premium or Standard - based on how much marketing they can commit to.  This allows all credit unions to participate and continue to offer this valuable discount and benefit of membership to their members.

          To find out more about the Credit Union Member Discount from GM and how your credit union can take advantage of all it has to offer, click here. [ Return to Top ]

          JMFA program brings major benefits to credit union

          LEVERAGE partner, JMFA, provides an overdraft privilege program that earned Desert School FCU an additional 33 percent  in overdraft privilege service fees which contributed to a 10 percent increase in overall non-interest income. The credit union anticipates another 18 percent increase in this category of fees in 2012.

          To read the full Desert School Federal Credit Union case study, click here. [ Return to Top ]

          News from You
          Tampa Chapter holds 19th Annual Golf Classic

          From left to right (bottom photo): Don Genevie, SVP, real estate and business lending; Sharon Unger, AVP, indirect lending; Joe Rosado, AVP, retail operations; Adonis Harris, AVP, retail operations.

          On March 30, the Tampa Chapter of Credit Unions hosted its annual Golf Tournament, proceeds benefitted Florida CUPAC and the National Credit Union Foundation (NCUF). More than 60 golfers participated in this year’s tournament, which is an increase from last year. The League thanks the Tampa Chapter for its support of LSCU's PACs, and it looks forward to the Tallahassee Chapter’s Annual Golf Tournament this week.

          [ 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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