LSCU eSignal Weekly
LSCU eNews Weekly October 15, 2012
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LSCU eNews Weekly
In This Issue
President's Point
Member survey results show League responding to credit union needs
LSCU Top Headlines
This week's top League headlines
Governmental Affairs News
This week in Florida politics: New House budget chairman, credit unions included in CFO survey
Credit unions to sponsor senatorial debate
This week in Alabama politics: Legislative meet and greets, PAC update
Credit unions raise more than $20k for Rep. West
Jacksonville credit unions meet the candidates
Make plans for 2013 CUNA GAC
Compliance Corner
League InfoSight highlight: Membership Eligibility
Enterprise Florida looking to partner with credit unions
CUNA Regulatory Advocacy Report - Week of Oct. 15
Compliance calendar and training
Cooperative Initiatives News
CU4Kids "Putt with a Purpose" Golf Tournament
Education News
New this year at the LDC! Roundtable sessions for small-, mid-, and large-asset size CUs
Education Calendar
LEVERAGE News
Grow CU lending program through members, community, culture
Expanding to new locations? LEVERAGE's ePurchasing services can help save money
News from You
eCO CU 'Cash Bandits' campaign to support Children’s of Alabama shows successful
JetStream FCU holds grand opening of new Puerto Rico branch
EMPLOYMENT
View available credit union jobs
In This Issue
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President's Point

Member survey results show League responding to credit union needs

Each year the LSCU sends out the LSCU Members Survey to get feedback from our member credit unions. We take that feedback and use it in a variety of ways including strategic planning and budget development for the next year. Many of the changes we’ve implemented at the League have come directly from your feedback. This year we had a 50-percent response rate. That is phenomenal and nearly a 10-percent improvement from last year.

When looking at the numbers, a couple of them stand out right away. When asked whether the value and promises of consolidation are being realized, 91 percent agree that the consolidation is on the right track. Two years ago that number was 69 percent. We’ve worked hard to live up to what we promised and tried to be as transparent as we can be. Also, 95 percent of respondents indicated that their level of satisfaction with the League increased or stayed the same. This is a three-percent jump from last year.

Speaking of responding to needs, when we asked credit unions to rate our staff, 98 percent said our staff is professional, 97 percent said that our staff is responsive and knowledgeable, and 94 percent say that staff understands credit unions’ needs and communicates the League’s priorities. I’m proud of these numbers because we have put a great emphasis on member service for credit unions in Alabama and Florida. Plus, 95 percent indicated that the LSCU keeps them well informed. 

When we drill the numbers down by department, we show more good numbers:

  • 97 percent say the LSCU Governmental Affairs does a good job advocating at the state capitols
  • 95 percent say the LSCU Governmental Affairs does a good job advocating to federal lawmakers
  • 96 percent say LSCU Regulatory Affairs is helping them meet their compliance needs
  • 88 percent say LSCU Education is meeting their training needs
  • 86 percent say the LSCU website is a useful tool

On the LEVERAGE side, 77 percent indicated they look at the League Service Corporation when looking for a new product. That’s up from 69 percent last year. By purchasing LEVERAGE products, you are not only getting one of the best solutions in the industry, you are also helping the League. LEVERAGE is working to bring some of the most innovative products to market, and 85 percent of those surveyed indicated that the service corp is innovative. This is 10-percent jump from last year. Visit www.myleverage.com for a list of product offerings.

This is just a snapshot of the LSCU Members Survey. View the full report by visiting the LSCU Information for Credit Unions webpage. I want you to know that we take these numbers and look at them from the management level and the board level. A good example of using the numbers is the Cooperative Image Campaign. This year 82 percent said that credit unions should support it financially. This is up from 63 percent in 2010. We will continue managing the campaign as long as you see the value in it.

When you look the members survey results, it shows that we are listening to you and responding to your needs. We know we have areas to improve in, and we’re not resting on how good these numbers are. But, I’m encouraged that you are seeing the value in your dues dollars with the LSCU.    

Please email if you would like to comment on this column.

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LSCU Top Headlines
This week's top League headlines

CUNA boards seats available
CUNA has eight board of directors seats open. For credit unions in Alabama and Florida, a District 3 Class B seat is open for a credit union executive with between 23,000 and 85,999 members. The seat is currently held by floridacentral CEO Laida Garcia. Due to term limits, she will not seek re-election. This is a great opportunity to help shape the future of the credit union movement. Visit CUNA's website for more information.

Troubled debt restructuring webinar available
The NCUA has posted its recent webinar on troubled debt restructuring, workouts, and nonaccruals. In May, the NCUA approved a measure requiring all federally chartered credit unions to have written policies on loan workouts and nonaccruals. Access the webinar and read more on the NCUA's website

Benefits of low income designation
The NCUA is making a push to have more credit unions become low-income designates. By taking advantage of this designate, credit unions will not only serve their membership, they will also have the opportunity at more benefits including member business loans that don't count against the MBL cap. CUNA is holding a free webinar to go over the benefits. It's Tuesday Oct. 16 at 1pm CT/2pm EST. Click here to learn more and to register.

International Credit Union Day is Thursday
Credit unions are set to celebrate International Credit Union Day on Thursday Oct. 18. The day is set aside for credit unions to celebrate their heritage and to let members and non-members have a greater understanding of the credit union difference. Here are some ways credit unions are celebrating. There is still time for your credit union to plan a celebration. Click here for ideas.  

Invest in America Newsletter, Frontline Staff Update available
The Invest in America Newsletter highlights: Enroll in TurboTax and Members could "Double Their Refund," Support Financial Literacy with Biz Kid$, New Dell Promotion - Members can Double Their Discount on Windows 7 Systems, and more. To read the IIA Newsletter, click here. To read and distribute the Frontline Staff Update, click here.

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Governmental Affairs News
This week in Florida politics: New House budget chairman, credit unions included in CFO survey

Rep. Seth McKeel named House Budget Chairman

Speaker Designate Will Weatherford (R-Wesley Chapel) sent a memorandum to House members last week announcing that Rep. Seth McKeel (R-Lakeland) would lead the House’s budget efforts for the upcoming biennium. In the memo, Weatherford says that McKeel’s “[E]xpertise and background as a small business owner, a former Lakeland City Commissioner and the previous chairman of the House State Affairs Committee will prove to be invaluable as we manage our state’s future budget priorities.” McKeel replaces former Rep. Denise Grimsley (R-Sebring) who is likely to be elected to the Senate in November. The Appropriations Committee chairmanship is one of the most sought after and powerful positions within the House leadership structure. According to the Florida Current, after three straight years of billion dollar shortfalls resulting from the deep recession, the state’s economists early projections show a surplus of $71.3 million for the 2013-14 fiscal year.  

CFO Releases Small Business Lending Survey

Florida’s Chief Financial Officer Jeff Atwater teamed up with the Florida Chamber Foundation to conduct a small business lending survey, targeting information from credit unions and community banks. The survey found that a majority of credit unions and community banks expect they will need to double employees handling compliance with the Dodd-Frank Act over the next three years. Also from the survey was that a majority of small businesses in Florida that were asked (72 percent) were unable to receive access to capital in the previous six months before being surveyed. The email-solicited survey was sent to senior management at Florida-based credit unions and community banks between June 15 and August 10.

Election Resources

The general election is less than a month away as Florida’s voters will go to the polls on Tuesday, Nov. 6. To help credit union advocates make informed decisions on where candidates stand on credit union issues, the LSCU developed a Florida Voter’s Guide and a Florida Congressional Scorecard so show where members of Congress stand on credit union issues. The voter's guide points out key leaders and shows lawmaker and candidate responses to five credit union questions. The scorecard shows how the federal delegation in Florida has been on credit union issues. Each guide is a valuable resource to help staff and membership vote in November. These resources have been sent via email to all credit union advocates signed up for the LSCU Action Center and are also available on the website. Additional election resources can be found by visiting the LSCU Campaigns and Elections webpage. 

PAC Fundraising

Political Action Committee (PAC) fundraising efforts are in full swing and remain a priority for the League. In order to count toward your 2012 goal, all contributions must be made by Dec. 15, 2012. LSCU Grassroots and Political Action Coordinator Andy Gonzalez continues to make visits to help each of our credit unions advance their fundraising efforts. The 2012 Fundraising Guide, along with your 2012 CUPAC and FEDPAC goals, was sent out in January on a compact disc; however, if you need another copy, contact Andy.

Special thanks go out to our credit unions that have continued the payroll deduction program in 2012 in Florida. More credit unions are signing up each week, and even more are asking for Andy to come give a presentation on what payroll deduction can mean to your credit union.

To read the complete Florida Politics Week in Review, highlighting the LSCU Action Center and PAC fundraising, click here.

If you have any questions about the LSCU Action Center, grassroots activities, or PAC fundraising, contact Andy Gonzalez at 866.231.0545, ext. 1010.

Should you have any questions on any of the legislative issues mentioned above, contact LSCU VP, Governmental Affairs Jared Ross, 866.231.0545 ext.1012, or LSCU Director, Governmental Affairs Jennifer Martin, 866.231.0545 ext. 1150.

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

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Credit unions to sponsor senatorial debate

For months, incumbent Sen. Bill Nelson (D) and Congressman Connie Mack IV (R) have been attacking each other through the use of television ads. On Wednesday, Oct 17, the two men will be face-to-face in their only debate. Leadership Florida is hosting the debate on the campus of Nova Southeastern University in Ft. Lauderdale, and the LSCU is one of four title sponsors.

The debate will air on a major network in all 11 media markets throughout the state, as well as on C-SPAN. As part of the television coverage, the LSCU will be running a :30 commercial spot, utilizing the second  Cooperative Image Campaign ad from this past year's campaign. The commercial will run during the broadcast on each of the media markets as well as on the C-SPAN broadcast. The sponsorship will benefit all credit unions in Florida by utilizing the Cooperative Image Campaign materials. A 4'x8' banner will hang in the hall with a credit union message, as well as mentions at the start and end of the debate about credit unions in Florida. 

The U.S. Senate race in Florida has been one of the most watched and targeted races for both parties. Recent polls show Sen. Nelson with a lead ranging from five to 11 points. Either way, this will have a major impact on who controls the U.S. Senate heading into 2013. For more information on the debate, visit www.beforeyouvote.org.

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This week in Alabama politics: Legislative meet and greets, PAC update

Legislative Meet and Greets

The LSCU Governmental Affairs team has been hard at work with our grassroots and political action efforts. In the last few months chapter legislative nights for the Montgomery, Shoals, Tuscaloosa, and Northeast Chapters have been held. Credit unions were able to meet their lawmakers and discuss issues that were important to the credit union movement. These chapter legislative nights are an essential part of the LSCU grassroots advocacy program designed to build and maintain personal relationships between state and federal lawmakers and their local credit union officials. The League is currently working with several more chapters to host legislative nights. Look for the updated information in the LSCU Action Center

PAC Fundraising Update

Another important part of the League’s advocacy strategy is PAC fundraising. As the year starts to wind down,  the LSCU is continuing to raise money for state and federal political action committees. Currently, credit unions have raised more than $33,000 (66 percent) of the annual goal for the LSCU FEDPAC and nearly $33,000 (72 percent) of the annual goal for ACULAC. There is still plenty of time to reach PAC fundraising goals. Credit unions can still become involved in fundraising for the LSCU FEDPAC through personal contributions, payroll deduction, and deduct-a-buck. Credit unions can also raise money for the state ACULAC through consignment tickets, chapter raffles, and corporate contributions. Credit unions must have the ability to engage monetarily in state and federal races. This will allow credit unions to have a stronger voice in Montgomery and Washington, D.C.  If you wish to participate in the LSCU PAC fundraising efforts or need more information contact Alabama 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.

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Credit unions raise more than $20k for Rep. West

Rep. Allen West (R-FL) speaks to a crowd at PBC CU CEO John Deese's (black jacket) home. 

Deese hosted a fundraiser at his home for Rep. West in West Palm Beach on Tuesday Oct. 9. The event was successful as more than 100 people attended raising more than $20,000 for the Congressman. 

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Jacksonville credit unions meet the candidates

Rep.-elect Travis Cummings (R-18) addresses the Northeast Chapter legislator meet and greet. 

Last week, the Northeast Chapter held its annual “Meet the Candidates Luncheon” at the Marriott Hotel in Jacksonville. The event featured several candidates running for office in Florida, and was extremely well attended by credit union advocates from the chapter.

LSCU President/CEO Patrick La Pine spoke briefly about the importance of legislative events and how important this year’s election is. He was followed by an update on the League’s legislative issues given by VP of Governmental Affairs Jared Ross. The candidates were given time to address the group, allowing credit union advocates to learn where their candidates stand on issues important to credit unions and their communities.

See more pictures from the meet and greet on the LSCU Action Center Facebook page. 

 

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Make plans for 2013 CUNA GAC

For credit unions, there are a number of important events to attend each year. On a national level, the CUNA GAC is a must. The 2013 GAC carries a similar theme to last year, "Powerful Cause. Positive Effect."  More than 4,000 credit union officials descend on Washington, D.C. to get educated, network and most importantly, meet with lawmakers to talk about the issues. 

While the GAC boasts great education sessions and speakers, the benefit of attending is hitting the Hill with all of the other attendees and making the credit union presence felt. The League sets up Hill visits for attendees and the power of a group of credit union officials sitting with a lawmaker goes a long way toward having a good discussion about the issues. 

The 2013 GAC is Feb. 24-28, 2013. The host hotel for the Alabama and Florida delegation is once again the Grand Hyatt, which is four blocks from the Washington Convention Center and a short cab ride from the Capitol.

Each year at the CUNA GAC, the LSCU holds receptions to give credit unions from Alabama and Florida a place to network and talk about what they learned during the day. The receptions are also a spot to update credit unions on any last minute changes to the days schedule and the Hill visit schedule. 

Visit the LSCU CUNA GAC resources pages for information on booking a room at the Grand Hyatt and to register for the CUNA GAC. Contact LSCU VP, Governmental Affairs Jared Ross at 866.231.0545 ext. 1012, if you have any questions about the GAC. 

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Compliance Corner
League InfoSight highlight: Membership Eligibility

Every federal credit union's charter (section 5) describes its field of membership (FOM). FOM is defined as the persons, including organizations and other legal entities, a credit union is permitted to accept for membership. Generally, credit unions can only offer services to persons within the FOM who have actually become members of the credit union.

NCUA's FOM rules also specify several additional means/concepts that expand a federal credit union's FOM potential. These include:

  • Serving other persons eligible for credit union membership, including serving immediate family and household members, serving corporate/legal entities, and more   
  • Policy of once a member, always a member   
  • Serving nonmembers

To find out more about credit union field of membership, 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. After you are logged in to www.lscu.coop, click on the InfoSight tab. If you do not have access to the League website, click here to sign up.


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Enterprise Florida looking to partner with credit unions

Over the past several months, credit unions have received information about ways to collaborate with Enterprise Florida to help support small business loans. The loans come with a partial guarantee which would enable you to more effectively serve your members who have businesses and help Florida’s overall economy continue to grow. 

Enterprise Florida exhibited at the LSCU AC&E in June. This enabled many credit unions to meet with Enterprise Florida representatives Jennifer Schrader and Brooke Pace. For those that didn't meet Jennifer and Brooke or would like more information, download a PowerPoint presentation that further describes how they can assist you in making member business loans.

If you have any questions, contact Jennifer Schrader.

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CUNA Regulatory Advocacy Report - Week of Oct. 15

This week's edition of the CUNA Regulatory Advocacy Report covers issues such as: CUNA commenting on the Consumer Financial Protection Bureau (CFPB) Mortgage Servicing proposals, the new CFPB Consumer Complaint database, and CUNA attended a recent Bank Secrecy Act Advisory Group meeting and asked that small credit unions get some relief from BSA burdens. 

To read the most recent CUNA Regulatory Advocacy Report, click here.

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Compliance calendar and training
October 2012
  • October 20: 5300 Call Report Due to NCUA

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
CU4Kids "Putt with a Purpose" Golf Tournament

The Southeastern Credit Union Foundation (SECUF) will hold the second annual CU4Kids "Putt with a Purpose" Golf Tournament in conjunction with the 2012 LSCU Leadership Development Conference on Nov. 7 at Lakewood Golf Club in Point Clear, AL. Spots are filling up fast so credit unions are encouraged to register today so they will have a spot in the tournament. 

The tournament begins at 7:30 a.m. with registration and a continental breakfast. A shotgun start begins at 8:30 a.m. and will be followed by an awards lunch at 12:30 p.m. The registration fee is $150.

For more information on the 2nd Annual CU4Kids Putt with A Purpose Golf Tournament, contact SECUF Director Leonard Parkhurst at 866.231.0545, ext. 1154.

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Education News
New this year at the LDC! Roundtable sessions for small-, mid-, and large-asset size CUs

Join your peers from credit unions with similar asset size for a facilitated discussion on best practices, operational solutions, and successful growth strategies. Your peers will provide details on their successes in key areas such as lending, membership growth, and marketing.

Learn from your peers while obtaining practical, easy-to-implement ideas that you can adapt for your own credit union in the following roundtables:

For more information about each of these sessions and facilitators, click on the links above. If you haven't registered for the 2012 LDC yet, it's just a click away

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Education Calendar

Upcoming Events:

Tuesday, Oct. 16
Safe Deposit Boxes: Drilling, Unpaid Rent, Death & Unclaimed Property
3 to 4:30 p.m. EST - webinar

Wednesday, Oct. 17
IRA Essentials Training
Miami, FL

Wednesday, Oct. 17
Beyond ALLL Doubt: Methodology & Policy Development in Uncertain Times
3 to 4:30 p.m. EST - webinar

Thursday, Oct. 18
Credit Union Mergers: Pros, Cons, Due Diligence, Governance & More
3 to 4:30 p.m. EST -webinar

To view the complete LSCU Events Calendar, click here.

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LEVERAGE News
Grow CU lending program through members, community, culture

Patrick McElhenie (center) of CUNA Mutual Group answers questions during the live Q&A portion of his session at the Online Discovery Conference on Tuesday.

Attendees of the third annual Online Discovery Conference were told this past Tuesday that credit union members are looking for three things when it comes to lending: guidance, solutions, and credit with reasonable terms.

Patrick McElhenie, sales planner for CUNA Mutual Group, discussed challenges the current economy presents, what’s in store for credit unions, and lending opportunities credit unions may be missing during his presentation, “Translating Lending Trends into Strategies to Fuel Growth.”

“We’ve seen major setbacks in household net worth,” McElhenie said. “Some recovery has occurred, but households don’t have the resources they once did, which we see in members’ spending and borrowing habits.”

When it comes to lending, credit union members are more cautious today because of the current economic environment and the financial obligations they already hold, McElhenie said.

“There’s a lack of household demand for loans because people are paying down their debt and spending less.” McElhenie said. “But, keep in mind, people are also looking at lending differently, too. People don’t ‘go and get a loan’ today, they see financing as a product feature, making point-of-purchase financing boom.”

For more on CUNA Mutual Group, contact a LEVERAGE Business Development Consultant. 

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Expanding to new locations? LEVERAGE's ePurchasing services can help save money

Credit unions seeking to expand into new locations face many challenges. From allocating human resources to managing multiple locations, credit unions may find it difficult to spend time working closely with a variety of companies during a transition to ensure competitive pricing.

There is no better time to utilize the ePurchasing services offered by LEVERAGE than the movement into a new branch. LEVERAGE has assisted credit unions with these transitions by working with companies to ensure competitive pricing while also saving the credit union valuable time normally spent managing the purchasing process.

Below are examples of items LEVERAGE can assist with purchasing:

  • ATM machines
  • Drive-through tube systems
  • Teller cash dispensers
  • Computers
  • Network cabling
  • Servers
  • Security equipment
  • Safes
  • Furniture
  • Coin counters
  • Safe deposit boxes

Credit unions acquiring new locations also provide a chance for service companies to gain additional business. The addition of a new location is the perfect time to re-negotiate key service contracts, even if the term has not completed. Examples of services include:

  • Armored car
  • ATM maintenance
  • Janitorial

The LEVERAGE team has worked with multiple credit unions to manage the purchasing process during very busy transitions. The team will work with your management team to analyze quotes and contracts in order to recommend multiple strategies to save your credit union money as well as valuable time.

For more information on ePurchasing, contact a LEVERAGE Business Development Consultant to see how they can assist in key aspects of the purchasing process.

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News from You
eCO CU 'Cash Bandits' campaign to support Children’s of Alabama shows successful

Through eCO’s third “Cash Bandits” campaign, the community joined together to raise money for Children’s of Alabama. eCO Credit Union, along with partners Clear Channel Media, Co-Op Miracle Match Program, and Children’s Miracle Network, raised more than $27,000 for this great cause.

During the six week campaign, eCO members and the community collected spare change and purchased CMN balloons in branches. Donations were also made through the donor drive website.

The campaign focused on educating the community about Children’s of Alabama and how important the hospital is to the city and state.

Fundraisers joined together to celebrate the campaign at the third annual Bandit Bash where prizes were awarded to the top fundraising teams and individuals.

“We are fortunate to have Children’s of Alabama in Birmingham,” said eCO CEO, Joey Hand. “With the new state of the art hospital, Children’s will be able to help more children and families. eCO Credit Union is glad to be able to support this great cause once again. We appreciate our members, families, and vendors joining in on these efforts!"

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JetStream FCU holds grand opening of new Puerto Rico branch

(Pictured left to right: Angel Martinez, AVP branch manager, Jeanne Kucey, CEO, Bolivar Perez, chairman, and Lizette Guedes, Torres CPA)

JetStream FCU held the grand opening of its latest branch in Carolina, Puerto Rico on Friday, Oct. 5. The new branch, located near the Luis Muñoz Marin airport, is a full-service facility that includes a two-lane drive-thru.

More than 150 members were in attendance for the ribbon cutting ceremony that included, Bolivar Perez, chairman of the board and Jeanne Kucey, president and CEO of JetStream FCU.


“Our new facility is centrally located and easily accessible,” stated Kucey. “We look forward to serving all of our members in our new branch location.”

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EMPLOYMENT
View available credit union jobs

To view the available jobs on the LSCU homepage, visit the LSCU CU Jobs Center. Click the link at the top of the page to view jobs at the LSCU.

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