LSCU eSignal Weekly
LSCU eNews Weekly April 9, 2012
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LSCU eNews Weekly
In This Issue
President's Point
LSCU AC&E is two months away and features Game Change authors
LSCU Top Headlines
This week's top League headlines
Governmental Affairs News
This week in Alabama politics: Public deposits update, ACUA funds transfer
This week in Florida politics: A.G. petitions Supreme Court, Action Center unveiled
Don't miss tomorrow's webinar on new DEO program geared toward increasing capital for small businesses
Alabama State GAC produced productive meetings with legislators
Compliance Corner
League InfoSight highlight: Bank Secrecy Act Channel updated
CFPB opens probe of overdraft fees
Compliance calendar and training
Cooperative Initiatives
LSCU/CUNA webinar coming April 16
Biz Kid$ DVD box sets, starter kits available from NCUF
Education News
2012 LSCU Disaster Preparedness Workshops in Miami, Montgomery this month
LSCU AC&E offers many reasons to attend
BSA Training Workshop next month in Birmingham
Education Calendar
LEVERAGE News
Save 10 percent off office materials with Office Depot
News from You
Alabama Telco CU supports Financial Literacy for Youth Month
EMPLOYMENT
View available credit union jobs
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President's Point

LSCU AC&E is two months away and features Game Change authors

Watching “Game Change” on HBO in March got me thinking about the LSCU’s Annual Convention and Exposition (AC&E). The movie follows the 2008 Republican presidential campaign and is based on the bestselling book of the same name. I’m excited because the authors, Mark Halperin and John Heilemann, will be the keynote speakers at the AC&E this June in Orlando. Our theme for this year’s conference is “The Power of One: One Vision. One Voice.”

The theme could not be more appropriate for credit unions right now. The Power of One is working as we have a possible vote looming next week in the Senate on member business lending. Our One Vision One Voice shows that if we work together we can collectively get this legislation passed. Last week at our State GAC in Alabama, CUNA SVP of Political Affairs Richard Gose said that credit unions are as powerful as any group in D.C. when they work together.

As you look at this year’s AC&E, you will see a few other changes. Our golf tournament, to benefit the Children’s Miracle Network (CMN), is on Saturday morning. We changed the time to give us all more of an opportunity to play golf and network without being rushed. The time remains the same so if you plan to leave Saturday, you can still catch an afternoon flight or drive home. But, you can also play golf and then stay and enjoy the JW Marriott property for the day.

Also new, we are offering educational tracks specifically designed for CEOs, CU executives, and directors. These tracks are not required, but will give each a more robust experience at the AC&E. Our staff works hard to find the most pertinent education topics for a wide range of credit unions officials that attend this event. The educational tracks are listed on the website, in the AC&E brochure mailed last week, as well as in the notebook you will receive in Orlando.

There are many other great speakers at this year’s AC&E. NCUA Chairman Debbie Matz will speak a couple of days after she hosts a “listening session” in Orlando. This actually gives credit unions two opportunities to interact with her. New World Council of Credit Unions (WOCCU) President/CEO Brian Branch will talk about the credit union movement from a worldly perspective. We will hear from CUES President/CEO Fred Johnson.  CUES is celebrating its 50th Anniversary this year and has a strategic partnership with the League.  

The entertainment and silent auction, which benefits CMN and the LSCU FedPAC, will leave a lasting impression on you. Ten-year-old piano prodigy Ethan Bortnick will provide the entertainment. I’ve seen him live several times and he’s incredible! He has hosted a PBS special, headlined across the country, and helped raise $30 million for charity. He works regularly with CMN.  
 
As we put the AC&E together, we have you in mind each step of the way. The Power of One is real and all of us feel it every day. It’s good to come together as a group each year to not only be reminded of our collaborative spirit but to grow it. I look forward to seeing many of you June 13-16 in Orlando. Visit our AC&E website for more information and to register.  

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

LSCU Top Headlines
This week's top League headlines

MBL radio ads running in Alabama
Radio listeners in Alabama will hear a member business lending message this week. With Congress on recess, the ads will target listeners contacting Sens. Richard Shelby and Jeff Sessions. The ad explains MBL and S. 2231, plus has a testimonial from a small business owner. You can read more and listen to the ad by clicking her. Credit unions are encouraged to push the ad out via social media. 

"Leave behind" groundbreaking this week in St. Pete
The "leave behind" project in St. Petersburg will take a major step forward this week as ground is broken April 11. The project is the revitalization of a playground at All Children's Hospital. The $300,000 project is in honor of the Republican National Convention and will be completed in August. To learn more about the project and how your credit union can get involved, visit the Southeastern Credit Union Foundation website. 

CUNA, NCUA to hold webinar on new interest rate risk regulation
Credit Union National Association (CUNA) and National Credit Union Administration (NCUA) staff, and a credit union CFO, will team up to offer an April 17 webinar on the NCUA's new interest rate risk (IRR) regulation. To read the full article, click here.

CUNA's Cheney makes video, radio venues for business lending advocacy
On April 4, Credit Union National Association (CUNA) President/CEO Bill Cheney emphasized the benefits to small businesses of increased credit union member business lending (MBL) on two fronts.Click here to watch the Cheney video.
[ Return to Top ]

Governmental Affairs News
This week in Alabama politics: Public deposits update, ACUA funds transfer

Alabama Legislative Update

The League would like to thank all of the credit union CEOs, board members, and staff that attended the 2012 State GAC in Montgomery last week. There were a number of informative sessions that you hopefully found to be useful as you return to your credit unions this week. In addition, credit union attendees were able to reach out to more than 47 different lawmakers either through the Legislative Reception or the Hill Visits. These personal contacts with your lawmakers mean a lot and the League hopes you will continue to build relationships in your areas of the state as well.

Public Deposits
The LSCU Governmental Affairs (GA) team is continuing to work on the SB 299 and HB 315, the credit union public deposit legislation. Hopefully within the next day or two, GA will be able to report to you that a hearing will be held on at least the Senate version of this legislation next week. If hearings are held, the League will need all of you to contact your legislators that sit on the financial services committees in both houses. Be on the lookout for information on that in the next few days.

ACUA Funds Transfer
Last week the League mentioned a piece of legislation that proposed raiding the Alabama Credit Union Administration’s (ACUA) budget by transferring undisclosed amounts to the General Fund Budget of Alabama.  The League is pleased to inform you that after objection from the LSCU and the ACUA, the ACUA has been amended out of that legislation and will no longer be raided. There is always a concern that agencies could remain, so the GA team will continue to follow this legislation to make sure the ACUA is not affected in any way.

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: A.G. petitions Supreme Court, Action Center unveiled

Florida Politics Week in Review

With the end of the extraordinary session to handle the Senate redistricting and barring another special session, the Legislature is now done for the remainder of 2012, at least until the elections are over in November. The most significant item to come out of Tallahassee since the end of the redistricting special session is Attorney General Pam Bondi’s petitioning of the Florida Supreme Court for review of the map on Friday. The court has 30 days to conduct a review from the time they receive the petition. If the court decides the map is still unconstitutional, they will redraw the map. The court is under a compressed time to review the maps, with the filing deadline for candidates coming up on June 8. 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 members in their districts to educate them on the importance of credit unions, what the priority issues will be heading into the 2013 Legislative Session, and why the League believes credit unions are the best choices for consumers.

Grassroots Activity
As lawmakers return home from session and special session, a lot of the League's focus has shifted to after-session grassroots activities. One thing that the League has made a priority is more chapter involvement in the form of hosting Legislative meet-and-greets. The League continues to get commitments from chapter leaders to hold legislative events, however, it would like to see 100-percent participation. Whether you host a group of legislators at a local credit union, have an evening meet-and-greet, or a breakfast roundtable, getting lawmakers to see the credit union difference first-hand truly makes an impact. The GA team is happy to help in the planning and execution of these events, and LSCU Grassroots & Political Action Coordinator Andy Gonzalez will be traveling the state to discuss these.

The GA team has unveiled its grassroots and PAC management tool, the LSCU Action Center, which is housed at www.LSCUActionCenter.com. Using this online tool makes it easier for credit union staff and members to contact their elected officials. However, in order to utilize the action center's grassroots functions, an LSCU website log-in is required. If you do not currently have a log-in for the League website, make sure you register for one by clicking here. Doing so is an important step in securing legislative victories now and in the future!

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 ]

Don't miss tomorrow's webinar on new DEO program geared toward increasing capital for small businesses

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 webinar, held by the League in conjunction with the DEO, is tomorrow, Monday, April 10 at 10 a.m. To register for the webinar click here.

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

Alabama State GAC produced productive meetings with legislators

LSCU President/CEO Patrick La Pine (left) greets Rep. Patricia Todd (D-Birmingham).

The LSCU Alabama State GAC, held in Montgomery on April 4-5, put credit unions in front of their lawmakers, immersed them in the issues and provided time to interact with their state and federal regulators. The hot topics included public deposits, member business lending, supplemental capital and examination fairness.

At the Legislative Reception, more than 30 lawmakers attended providing a relaxed atmosphere to build relationships and talk issues. The next day attendees went to the Alabama Statehouse and met with more of their lawmakers. In all, credit unions met with nearly 50 lawmakers. On the issue of public deposits, many were open to listen to the legislation and get a better grasp on what it would mean for municipalities and credit unions. A hearing on public deposits may come before session is out.

Sen. Bill Holtzclaw (R-Madison) meets with credit unions from the Huntsville area.

Rep. Craig Ford (D-Etowah) and Sen. Bill Holtzclaw (R-Madison) addressed attendees at the State GAC about the State Legislature and how best to communicate with lawmakers. Sen. Holtzclaw, sponsor of SB 299 which would allow credit unions to accept public deposits, said that communicating with him through a handwritten note is best. Each gave examples of how much they appreciate credit unions.

John McKechnie, a partner with Total Spectrum and a League federal lobbyist, gave attendees an overview of federal issues like member business lending, supplemental capital and the examination fairness act. McKechnie said that credit unions continue to hold strength in Washington. He said that credit unions should talk more about consumers to lawmakers because consumers resonates more than members does. Richard Gose, CUNA SVP of Political Affairs, talked about grassroots involvement and how credit unions can work closer with their membership. He went over "The Plan to Win" and said that credit unions are making headway in showing lawmakers that their membership is strong.

 

CUNA SVP of Political Affairs Richard Gose talks grassroots involvement.

Gose also said that taking Action Alerts to credit union membership sends a powerful message to lawmakers.

Credit unions spent an hour with Alabama Credit Union Administration Administrator Larry Morgan and NCUA Region III Director Herb Yolles. Morgan talked about how he sees credit unions improving this year. Yolles said that “whatever Alabama credit unions were doing, they need to continue doing it.” He also reiterated that the NCUA assessments this year will most likely be no more than 11 basis points.

The League staff provided an in-depth look at the state and regulatory issues. The staff also went over some of the regulatory issues, the recent comment letters submitted and the new League Post Exam Feedback survey.

The PAC Fundraising awards were handed out with six credit unions being honored for their contributions to ACULAC, the Alabama State PAC and six were honored with FedPAC awards, the LSCU's Federal PAC. The Cheaha Chapter was honored for reaching 176 percent of its PAC goal. All the honorees were shining examples of PAC fundraising.

[ Return to Top ]

Compliance Corner
League InfoSight highlight: Bank Secrecy Act Channel updated

The current edition of the League InfoSight newsletter focuses on updates to the Bank Secrecy Act channel from FinCEN including guidance, advisory, and final rule adoptions such as:

  • FinCEN Guidance: CTR Aggregation for Businesses with Common Ownership
  • FinCEN Issues Advisory on SAR Confidentiality
  • Timely CTR E-Filing Specification Changed to 15 Days (March 31, 2013)
  • FinCEN Mandates E-Filing of Bank Secrecy Act Report (July 1, 2012)

To find out more about the updated Bank Secrecy Act channel, 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 ]

CFPB opens probe of overdraft fees

In regards to the overdraft inquiry, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray said that “overdraft practices have the capacity to inflict serious economic harm on the people who can least afford it.” This announcement comes just as giants like Bank of America, Wells Fargo, and Regions Financial search for new ways to apply charges to account holders.

Overdraft fees disproportionally affect two already beleaguered populations: those with low incomes and young consumers. While banks and credit unions are now required to seek customers' O.K. before enrolling them in courtesy overdraft programs marketing materials often overstate the benefits and downplay the fees and risks.  Overdraft policies and fee schedules are often hard to read and hard to find, especially through websites. Consumer groups report that people are often surprised by the charges and equally unsure of why the fees are applied in the first place.

Cordray acknowledged the voluntary efforts of some to address problems and commended the actions by other regulators; he said that continuing negative impact of courtesy overdraft on consumers warranted study and potentially, action. This action could include another round of revisions to the forms provide to account holders by banks and credit unions.   

Credit unions should expect calls and comments from members regarding ODP programs, and the possible affect on their activities. Now is a good time for additional staff training on overdraft protection procedures, and a review of policies is also recommended.

The CFPB is soliciting comments from consumers until April 30.  If you're interested in commenting, send an email to this email address. The CFPB is collecting data, comments and input on the issue. This information will aid in the CFPB's decision to take action - including possible rule changes. No proposed rule has been put forth by the CFPB at this time. [ 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 ]

          Cooperative Initiatives
          LSCU/CUNA webinar coming April 16

          LSCU President/CEO Patrick La Pine will present a first quarter update on LSCU and CUNA activities on Monday, April 16 at 1pm CDT/2pm EDT.  The webinar is expected to last less than an hour.

          The first quarter has been a very busy time for legislative activities. Member business lending legislation has traction in the Senate and La Pine will provide the most up-to-date details. It's been 14 years since there has been a Senate vote on credit union stand alone legislation, so it has never been more important for to speak with one voice.

          The webinar will include updates on other key pieces of legislation such as Supplemental Capital and the Financial Institutions Exam Fairness & Reform Act. Highlights of the legislative sessions in Montgomery and Tallahassee will be presented. The LSCU PLAN to Win Strategy Guide and the importance of PAC fundraising will also be discussed.

          Other highlights during the webinar will be the Cooperative Image Campaign, the third Annual Convention & Exposition (AC&E) in Orlando, the therapeutic playground “leave behind” project in honor of the Republican National Convention in Tampa, and news from LEVERAGE.

          An email with login instructions will be sent this week. If you have questions about the webinar and topics to be covered, contact LSCU VP, Cooperative Initiatives Laura Vann at 866.231.0545, ext. 2181. [ Return to Top ]

          Biz Kid$ DVD box sets, starter kits available from NCUF

          Biz Kid$ is the Emmy Award winning and credit union funded public television series that teaches kids about money management and entrepreneurship.

          Each box set or starter kit is available for a donation of $60 to the National Credit Union Foundation.  Credit unions, leagues and foundations can purchase box sets or starter kits to:

          • Donate to teachers/libraries/resource centers in each school of the districts in which they serve.
          • Give to after-school programs, summer camps, Boys & Girls Clubs, children’s hospitals, and daycare facilities.
          • Use to show Biz Kid$ in credit union branch lobbies.

          Each Biz Kid$ box set includes DVDs for each episode and a CD containing PDFs of the curriculum for each episode.  Box sets are available for each of the following four seasons:

          • Season One ( episodes 101-113)
          • Season Two (episodes 114-126) 
          • Season Three (episodes 201-213)
          • Season Four (episodes 301-305, 401-408) 
          • Click here for a full episode listing

          Each Biz Kid$ Starter Kit includes the following DVDs and materials to teach Biz Kid$ in your area:

          • DVDs with five core Biz Kid$ episodes plus one 4-minute promotional DVD to introduce the series
          • CD with PowerPoint training document and PDFs of the curriculum for the five episodes
          • "Guide for Success in the Classroom" training & tips document
          • One stapled package of curriculum for one episode
          • 40 Biz Kid$ pencils
          • 40 Biz Kid$ stickers

          For more information about the Biz Kid$ box sets, contact Danielle Brown at 971.295.6800.

          [ Return to Top ]

          Education News
          2012 LSCU Disaster Preparedness Workshops in Miami, Montgomery this month

          The Disaster Preparedness Workshop is a full day workshop that will benefit all credit union staff involved with developing and implementing the disaster preparedness plan of their credit union. The goal of this workshop is “continuity of service to your members no matter what happens!” It will assist in turning FFIEC requirements, industry guidelines, best practices, and collective credit union experience to mature your disaster recovery or business continuity program.

          Workshop facilitator Don Stewart, MBCP, MBCI, CCP, director of professional services for Ongoing Operations LLC, has managed a FISERV credit union DR facility, led more than 1,100 disaster recovery exercises, and supported several hundred actual events.

          Disaster Preparedness Workshop – Miami, FL
          Tuesday, April 24, 2012 – 9 a.m. to 4 p.m. EST
          Location: South Florida Educational FCU, 7780 SW 117th Ave., Miami, FL 33183

          Disaster Preparedness Workshop – Montgomery, AL
          Thursday, April 26, 2012 - 9 a.m. to 4 p.m. CST
          Location: Guardian CU, 418 Madison Ave., Montgomery, AL 36104

          The registration fee is $199 per person. Click on the above links or visit the LSCU Events Calendar to register.
          [ Return to Top ]

          LSCU AC&E offers many reasons to attend

          “It is the cooperative spirit that makes credit unions unique. Working together for one overall cause is what pushes the credit union movement forward. With one vision and one voice, we – the league, our industry partners, and you – work hand-in-hand on the issues faced by credit unions in Alabama and Florida, locally and nationally. Together, we are The Power of One.”
          ~LSCU Chairman Joe McGee and President/CEO Patrick La Pine

          Top reasons to attend:

          • Designed to meet credit unions' continuing educational needs based on your comments and needs and our goal to provide the best value.
          • Suggested educational tracks for CEOs, executives, and directors provide a guide for choosing the best breakout sessions for attendees,
          • Top industry vendors at your fingertips in the Exhibit Hall.
          • Keynote speakers Mark Halperin and John Heileman, authors the best seller, Game Change, will provide an up-close and personal look at politics. A film adaptation of their book will debut this month on HBO.
          • Outstanding entertainment during the Dinner, Entertainment, & Silent Auction by Ethan Bortnick, age 10, a strong supporter of CMN and the youngest entertainer to headline his own show in Las Vegas as well as his own national tour.
          • Unrushed game of golf on Saturday during the Annual AC&E Golf Tournament at the Ritz-Carlton Golf Club to benefit CMN. The PGA just announced the return of the Father/Son Challenge and it will also be played at the Ritz Carlton Golf Club in December. Not only will you be supporting a good cause, but you can test your skills on a course where some of the greatest names in professional golf will play later in the year.

          Special registration pricing is available until April 16. Make your hotel room reservations now as the rooms are filling up fast! Click here to visit the LSCU AC&E website. [ Return to Top ]

          BSA Training Workshop next month in Birmingham

          The Bank Secrecy Act requires financial institutions to assist Federal and state agencies to detect and prevent money laundering. Specifically, the act requires financial institutions to report suspicious activity that might signify money laundering or other criminal activities.

          In addition to a Currency Transaction Report workshop as well as a Suspicious Activity Report workshop, attendees will hear about Bank Secrecy Act program oversight, creation and maintenance, risk assessment, filing requirements, technology, member/vendor due diligence, plus much more.

          BSA Training Workshop: May 9, 2012
          Repeat sessions:
          Morning
          :
          9:00 a.m. - 11:30 a.m. CST

          Afternoon:
          1:00 p.m. – 3:30 p.m. CST

          Fee: $65/person/session

          Location:
          League of Southeastern Credit Unions
          Ground Floor Conference Room

          22 Inverness Center Parkway, Suite 100,
          Birmingham, AL 35242

          For more details or to register, click on the above links or visit the LSCU Events Calendar.
          [ Return to Top ]

          Education Calendar

          Upcoming Events:

          Tuesday, April 10
          BSA Alert: Navigating the New CTR & SAR Forms
          3 - 4 p.m. EST - Webinar

          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

          Thursday, April 12
          Auditing Your Credit Union's Website
          3 - 4 p.m. EST - Webinar

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

          LEVERAGE News
          Save 10 percent off office materials with Office Depot

          Receive 10 percent off your qualifying purchase of $125 or more. To redeem, login to your Office Depot account here, and enter coupon code 522704033 at checkout. Offer valid through April 30, 2012. Click here for more details on savings. [ Return to Top ]

          News from You
          Alabama Telco CU supports Financial Literacy for Youth Month

          Jump$tart is a national coalition of organizations dedicated to improving the financial literacy of pre-kindergarten through college-age youth by providing advocacy, research, standards and educational resources. Jump$tart strives to prepare youth for life-long successful financial decision-making.

          Alabama Telco Credit Union supports this goal and initiative through their youth savings programs, Kids Savings School (ages 3-12) and Edge Teen Savings (ages 13-19). “Struggling for economic prosperity is difficult for everyone," states Stanton Davis, Alabama Telco’s vice president of marketing. "It’s especially hard for young people who’ve never learned how to plan to achieve financial security. We can prevent this by educating our youth early on. We believe the earlier in life you learn how to save, the better off you will be financially."

          To learn more about the Jump$tart Coalition, visit their website. To learn more about Alabama Telco’s youth programs, visit the Alabama Telco Credit Union website. [ 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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