LSCU eSignal Weekly
LSCU eNews Weekly August 13, 2012
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LSCU eNews Weekly
In This Issue
President's Point
Credit unions will have a presence at RNC
LSCU Top Headlines
This week's top League headlines
Governmental Affairs News
This week in Alabama politics: Sept. 18 constitutional amendment, Six Flags update
This week in Florida politics: Florida Primary on deck, foreclosures rise in July
LSCU 'Hike the Hill' hotel cut-off block date extended
Compliance Corner
CUNA Regulatory Advocacy Report - Week of Aug. 13, 2012
League InfoSight highlight: Requirements for the Official Sign
Compliance calendar and training
Cooperative Initiatives News
Credit Union Miracle Day wins Wegner Award for outstanding program
Education News
Mark your calendars for LSCU Leadership Development Conference in November
Register today for the LSCU Council meetings in October
Education Calendar
LEVERAGE News
New Ventelligence video explains contract management
LEVERAGE helps Panhandle Educators FCU save big on armored car services
News from You
Alive presented with Dora Maxwell award
JetStream FCU awarded CDFI grant money
EMPLOYMENT
View available credit union jobs
In This Issue
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President's Point

Credit unions will have a presence at RNC

The Republican National Convention (RNC) is coming up Aug. 27-30 in Tampa. The anticipation will shine a little brighter on the conference now that Mitt Romney has chosen Rep. Paul Ryan (R-WI) as his running mate. There will be a lot of talk this week about what Romney and Ryan will say at the convention and for most of America to get a better look at both. Throughout his tenure in Congress, credit unions in Wisconsin, the league and CUNA have had a good working relationship with Rep. Ryan. We have no reason to believe that would not continue if he and Gov. Romney are elected.

The “leave behind” project, in conjunction with the RNC, will be the most visible opportunity for our industry to promote the credit union difference. A ribbon cutting will be held on Aug. 29 and we expect to have some dignitaries there from the Republican Party, as well as press members. The $300,000 therapeutic playground is just about complete. CUNA has produced a video about the project that will be shown in the convention hall in front of all attendees. This is a great way to raise credit union awareness with our lawmakers from across the country. The Southeastern Credit Union Foundation (SEFCUF) appreciates all of the support from credit unions and individuals in their giving. We are close to reaching our fundraising goal, but we still need donations. I hope you will consider giving before the ribbon cutting.

The LSCU and CUNA will also be holding a reception for delegates from across the country on Aug. 29. The reception will be held at GTE Financial. Many of the state delegates that attend the convention are political heavyweights from their local communities and in some cases their states. This reception will afford credit unions a great opportunity to form new relationships with the delegates or enhance their perception of credit unions. Spending an hour or so talking with these delegates is priceless. 

Many of our GOP lawmakers will also be in Tampa during the week and the LSCU will be meeting with as many of them as it can. Our entire Alabama and Florida Governmental Affairs team will be in Tampa looking for opportunities to speak with our lawmakers, on the state and federal level. The GA team has been meeting throughout the summer with many key lawmakers, shoring up our relationships. This is a key time to meet with our lawmakers and help set the stage for the 2013 state legislative sessions and to reinforce our key issues with our federal delegation. 

I want you to know that the League is attending the RNC to work and increase our brand with delegates and lawmakers alike. The four days around the RNC can go a long way in solidifying a case for our issues, both on the state and federal level. If you will be in Tampa during the RNC, contact LSCU VP, Governmental Affairs Jared Ross so we can plug you in to events during the week. You can also follow events through the GA team’s Facebook page and Twitter pages (AL and FL).

If you would like to comment on this column, send me an email.

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LSCU Top Headlines
This week's top League headlines

White House behind NCUA low-income MBL designate
Last week the NCUA announced that low-income designated federal credit unions could make member business loans and not be held to the 12.25-percent cap. To qualify, the credit union would need more than 50 percent of its membership to live in low income areas. “With this initiative, we are cutting regulatory red tape and expanding access to capital for small businesses, which should translate into job creation,” said Chairman Debbie Matz. To read the full story, click here

CUNA offers MBL School
CUNA is offering credit unions a new Member Business Lending (MBL) School. From Sept. 24-Nov. 5, six classrooms sessions will be held on a variety of MBL topics including Understanding Business Structures, Reg CC and the Impact on Membership Part 1 and 2, plus Member Business Account Collections Considerations. To learn more about the school and how to register, visit CUNA's website.  

Two scams reported toward credit unions and their membership
Two scams were reported last week possibly involving credit unions and their membership. In the Tampa area, some credit union members were told by an automated call that their card was deactivated and a pin is required to activate it. However, this call was not directed just toward credit union members. In the other scam, some credit unions and members participating in the Sprint Credit Union Member program have received calls on a collection of a bill. The bill looks like it comes from Sprint, but it isn't. You can read more from the LSCU Top Stories. 

President's Quarterly Report now online
Each quarter LSCU President/CEO Patrick La Pine hosts a video in which he goes in-depth on a number of priorities for the quarter. In the second quarter report, La Pine talks about ATM Fee Disclosure legislation, MBLs, the "leave behind" project, the Leadership Development Conference and the Cooperative Image Campaign. This is a good video to see what the League has been working on during the quarter. You can view the video in the LSCU Video Room. 

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Governmental Affairs News
This week in Alabama politics: Sept. 18 constitutional amendment, Six Flags update

Sept. 18 Constitutional Amendment
Over the past several weeks the League has told you about a constitutional amendment that will take place during a special election on Sept. 18. The amendment approves the transfer of $437 million from the Alabama Trust Fund to the state’s General Fund. If this money is not approved for transfer, Gov. Bentley has said that additional across-the-board cuts to state agencies would occur shortly after.

Montgomery is gearing up for a “campaign” to see this measure passed.  Gov. Bentley has been promoting passage at every stop he makes and a Political Action Committee (PAC) has been formed, the Keep Alabama Working PAC. Recently the Alabama Nursing Home Association donated $125,000 to the PAC and it is gaining supporters from those who don’t want to see the state’s Medicaid budget slashed 17 percent. As Sept. 18 gets closer, look for a more concerted effort to see this amendment passed from interest groups in Montgomery.

One last development regarding the Sept. 18 amendment, last week Sen. Bryan Taylor (R-Prattville) said he plans to draft legislation for the 2013 Legislative Session that will require the money be repaid.  Rep. Jay Love (R-Montgomery), Chairman of the Education Appropriations Committee, will introduce similar legislation in the House.

Six Flags Update
End your summer with a fun and exciting trip to Six Flags Over Georgia and White Water! The League and Six Flags have teamed up to bring credit unions and their members Credit Union Day at Six Flags on Saturday, Aug. 18. For just $36 per person, you get free parking, entry to six flags, a catered buffet, and a ticket to White Water the next day on Aug. 19. This special offer has a value of $133.

Tickets can only be purchased at www.sixflags.com/overgeorgia using the promo code “LSCU12.” Don’t miss your final opportunity of the summer to GO BIG! If you have any questions about the Six Flags Credit Union Day or consignment ticket sales in general, contact LSCU Grassroots & PAC Coordinator Blake Westbrook at 866.231.0545, ext. 2164.

Follow the GA team legislative updates on Twitter and Facebook.

For questions regarding legislative affairs issues in Alabama, contact LSCU Director, Governmental Affairs - Alabama Jason Cochran at 866.231.0545, ext. 2159. [ Return to Top ]

This week in Florida politics: Florida Primary on deck, foreclosures rise in July

Florida Primary is Tomorrow
Tuesday, voters will head to the polls to make decisions on races ranging from the statewide legislative seats to their county's top law enforcement position. In many cases, the primary election will decide who will represent your district in the legislature. If you have not voted early or absentee, please remember to head to the polls, vote, and be part of the solution. Polls will be open across the state from 7 a.m. to 7 p.m. For questions on the primary or any other election related information, visit the Department of State’s election page here.

Foreclosures Up on Space Coast; Florida Numbers Rise in July
The thousands of layoffs stemming from the end of the space shuttle program this past summer hit the Space Coast hard, but the economic effects continue to reverberate one year later. The Melbourne-Palm Bay-Titusville metro area had one of the highest increases in foreclosure filings in July, shooting up 287 percent from June and 213 percent from July 2011, when the last shuttle flight occurred. The area had one foreclosure filing for every 214 housing units last month, the fifth-highest rate among metro areas, according to a report released Thursday by RealtyTrac, a California-based foreclosure tracking company. To read the report, click here.

There are five other Florida areas in the top 20 for foreclosure rates: Tampa-St. Petersburg-Clearwater area had a one in 267 rate, the ninth-highest; Jacksonville had a rate of one in every 287 housing units, the 14th-highest rate; Orlando-Kissimmee’s rate was one in every 293 housing units, the 15th-highest rate; Lakeland’s rate came in at one in every 297 units, the 16th-highest rate; Ocala had the 19th-highest rate with one foreclosure filing for every 302 housing units. Florida’s foreclosure activity jumped 14 percent over July 2011. The national rate was one in every 686 housing units.

To read the complete Florida Politics Week in Review including important information on the LSCU Action Center, election activity, and PAC fundraising, click here.

Don't forget to follow developing news and legislation updates from GA on Twitter and Facebook.

For questions regarding this update or credit union legislation in Florida, contact LSCU VP, Governmental Affairs Jared Ross at 866.231.0545, ext. 1012. [ Return to Top ]

LSCU 'Hike the Hill' hotel cut-off block date extended

The League's annual "Hike the Hill" to Washington is coming up on Sept. 12-13, 2012. Like last year, to help coordinate visits with those credit unions that will be attending the National Association of Federal Credit Unions (NAFCU) Congressional Caucus, the League has made the decision to hold its Fall Hill visits during the same time.

You can view the memo which contains information regarding flight and hotel information, as well as the registration form for the event here. The agenda for Hike the Hill can be found by clicking here. Review the agenda carefully and notice there is a 1 p.m. meeting on Sept. 12 with the Consumer Financial Protection Bureau (CFPB). If you would like to attend this meeting, make sure your flight arrives the night before or early enough to be in attendance.

There is also a Southeastern Credit Union Foundation (SECUF) Scholarship Application for those who would like to attend but need some assistance. As is customary, THERE IS NO REGISTRATION FEE FOR THIS EVENT.

Visiting with lawmakers at home is important, but taking time to go to Washington, D.C. is viewed by lawmakers as the ultimate constituent contact. In keeping with the League’s commitment to meet with lawmakers more frequently than just during the CUNA GAC, the League encourages you and your chair, or any of your board members to join in promoting credit union grassroots political action. Your visits are crucial in keeping credit unions visible before Congress. Your face-to-face meetings give you an opportunity to talk directly with your member of Congress about what you do for your members, and how Congress affects what your credit union does.

The cut-off date for the room block has been extended to Aug. 15, so make your reservations early, and let us know whether you plan to attend as soon as possible so all arrangements can be made. [ Return to Top ]

Compliance Corner
CUNA Regulatory Advocacy Report - Week of Aug. 13, 2012

This week's edition of the CUNA Regulatory Advocacy Report covers issues such as: CUNA presses NCUA for more regulatory relief, update on CUNA advocacy with the CFPB, Federal Reserve reports on the mobile payments regulatory landscape, and more.

To read the full CUNA Regulatory Advocacy Report, click here.

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League InfoSight highlight: Requirements for the Official Sign
Each insured credit union must continuously display the official sign at each station or window where insured account funds or deposits are normally received in its principal place of business and in all its branches, 30 days after its first day of operation as an insured credit union.

An insured credit union may purchase signs from commercial suppliers or develop its own in any color scheme so long as they are legible and otherwise comply with Part 740 of the NCUA Rules and Regulations.

A credit union may alter the font size of the official sign to make it legible on its Internet page and on documents it provides to its members, but it may not do so on signs to be placed at each station or window where the credit union normally receives insured funds or deposits in its principal place of business and all of its branches.

To find out more about displaying your credit union's official sign, visit League InfoSight.

The current issues of the InfoSight eNewsletter for Alabama and Florida are now available on the InfoSight homepage in the left-hand column. Members must login to the League website with username and password in order to access InfoSight. If you do not have access to the League website, click here to sign up. After you are logged in to www.lscu.coop, click on the InfoSight tab.
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Compliance calendar and training

August 2012

    • August 13: BSA/AML requirements for non-bank residential mortgage lenders (CUSOs)

    September 2012

    • September 3: Labor Day - Federal Holiday
    • September 30: Interest Rate Risk Policy and Program Requirement Effective Date

    For the complete list of calendar dates and compliance trainings, visit the LSCU Compliance Calendar on InfoSight. 

    *Note: To view InfoSight content, it is required to log in to www.lscu.coop for access.

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    Cooperative Initiatives News
    Credit Union Miracle Day wins Wegner Award for outstanding program

    Through its family of races benefiting Children’s Miracle Network Hospitals, Credit Union Miracle Day has made a significant impact in the credit union industry. In recognition of its efforts raising national awareness of credit unions, local community partnerships and fundraising, the National Credit Union Foundation (NCUF) is pleased to announce Credit Union Miracle Day as the winner of the 2013 Herb Wegner Memorial Award for Outstanding Program.  

    This will be one of three Herb Wegner Memorial Awards presented at a special dinner hosted by NCUF at the Grand Hyatt Washington on February 25, 2013, which is Monday night of the Credit Union National Association’s 2013 Governmental Affairs Conference. Online registration for dinner tickets will be available later this year on the NCUF website.

    “Credit Union Miracle Day is one of those rare and special events that seems to grown into a level of influence and prominence in such as small amount of time that is hard to comprehend its entirety,” said NCUF Awards & Recognition Committee Chairman Bob Schumacher. “It encompasses not only raising funds for a worthy cause, but also has an impact on credit union advocacy that is almost unmatched in its power. It is certainly a Wegner winner!”

    To read the complete release from the NCUF, click here.

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    Education News
    Mark your calendars for LSCU Leadership Development Conference in November

    Mark your calendars for the LSCU Leadership Development Conference on Nov. 7 - 10 in Point Clear, AL. The conference has been rebranded with the word leadership. It's the same great conference but it now has more of an emphasis on equipping CEOs, directors, and executives on ways to lead their credit unions.

    Speakers at this year's conference include:

    • U.S. Rep. Jo Bonner (R-AL)
    • Kristen Christian, founder of Bank Transfer Day
    • Ken Gronbach, demographer on shifting demographics

    Over the next few weeks, you will learn more about the LSCU's Leadership Development Conference, all of the speakers, educational breakout sessions and the opportunities for credit unions. Don't miss attending this great conference, interacting with your peers and working to move credit unions forward.

    Watch your inbox, mailbox and Facebook for more information. Contact LSCU, Director of Events Julianne Talley at 866.231.0545 ext. 1148 with any questions.

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    Register today for the LSCU Council meetings in October

    The LSCU Councils will hold their next meeting Oct. 3 in St. Augustine, FL. The councils will meet in conjunction with the Northeast Chapter Golf Outing and the Florida CUES meeting. This is a good opportunity to get more bang for you buck by attending one or more of the events. 

    The LSCU Council sessions have great topics that include:

    • How do we continue to grow with positive earnings
    • Social Networks in the workplace
    • Eight powers of lending
    • Emerging social media trends
    • Reducing debt burden one member at a time
    • Payment innovations

    Visit the LSCU Events Calendar to get more information, reserve a hotel and to register. Watch the LSCU Facebook page for updates.


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    Education Calendar

    Upcoming Events:

    Tuesday, August 14
    You Received a BSA Exam Request Memo, Now What?
    3 to 4:30 p.m. EST - Webinar

    Wednesday, August 15
    Frontline Series: Signature Card Danger Zones: Account Titling, Ownership & Access
    3 to 4 p.m. EST - Webinar

    Tuesday, August 21
    Garnishments, Subpoenas, Summonses, Levies: Getting It Right!
    3 to 4 p.m. EST - Webinar

    To view the complete LSCU Events Calendar, click here.

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    LEVERAGE News
    New Ventelligence video explains contract management

    Managing contracts at a credit union can be difficult. When the contracts come up for renewal, it takes a lot of work to do the due diligence required to either re-sign with the vendor or to look for another one. LEVERAGE's Ventelligence can streamline this process and save credit unions money and staff hours.

    In a new video from LEVERAGE, Ventelligence's contract management program is explained, along with how ePurchasing can save credit unions on contract procurement. By utilizing Ventelligence, contract management goes from being one of the most difficult jobs at the credit union to become one of the easiest. Plus, the savings from ePurchasing events will add up quickly.

    To watch the video, visit the LEVERAGE homepage, to learn more about Ventelligence and how it can work for your credit union, contact a LEVERAGE Business Development Consultant.

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    LEVERAGE helps Panhandle Educators FCU save big on armored car services

    Recently, Panhandle Educators FCU utilized ePurchasing services through LEVERAGE to obtain competitive bids for its armored car services. Although the credit union was very satisfied with the services being provided by its incumbent vendor, they wanted to evaluate their options for more lucrative pricing.

    As a result of the ePurchasing event, the credit union received pricing from a different vendor yielding 60-percent annual savings from the incumbent's pricing. Being unfamiliar with the capabilities of this new vendor, and skeptical of such drastically reduced pricing, Panhandle Educators FCU consulted with the LEVERAGE team to express tts concerns and to request guidance on how to proceed. With the satisfaction of the credit union at the forefront, a 90-day "trial" period was presented as a way to address any concerns prior to signing an annual contract for services. Following LEVERAGE's negotiations with the vendor, the trial period was agreed upon, which should provide the credit union with adequate exposure to the new vendor prior to entering into an annual contract.

    Whenever possible, the LEVERAGE team will work with the credit unions and/or vendors to find creative solutions to address not only pricing, but service availability, vendor capability, and quality standards.

    For more information on how ePurchasing services can help your credit union, contact a LEVERAGE Business Consultant.

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    News from You
    Alive presented with Dora Maxwell award

    Back Row (L-R): Aaron Logue, Scott Blanchett; Front Row (L-R) Sharon Stoll, Sherry Yates, Renee Suhrer, and Bill Berg (LSCU)

    Sherry Yates of Alive Credit Union, based in Jacksonville, accepted the Dora Maxwell Award along with members of the CARES committee for the credit union’s philanthropic work throughout 2011. Alive’s CARES committee coordinated and participated in a variety of events from collecting items for those in need to dressing up as children’s storybook characters and walking in a parade to raise money for a new children’s wing at a local hospital.

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    JetStream FCU awarded CDFI grant money

    On Aug. 6, the U.S. Department of Treasury Community Development Financial Institutions (CDFI) Fund awarded $186 million to 210 CDFI’s serving struggling communities in states across the country. JetStream FCU was one of 22 credit unions to receive a U.S. Treasury grant. JetSteam received more than $92,000.

    "JetStream Federal Credit Union received this grant due to their commitment to meeting the numerous and diverse needs of their low income members in Miami Dade County and Puerto Rico” said CU Strategic Planning CEO, Chuck Cockburn, the nation’s leading authority on credit union CDFI grants.

    “JetStream works in partnership with our members to improve their financial knowledge; increase their financial options; and ultimately grow their financial resources”, said Jeanne Kucey, CEO for JetStream Federal Credit Union. “We are ecstatic about this opportunity to help our members expand their businesses and strengthen their communities.” [ 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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