LSCU eSignal Weekly
LSCU eNews Weekly October 29, 2012
home button press room button contact us button
LSCU eNews Weekly
In This Issue
President's Point
Costa Rican credit unions have many of the same struggles
LSCU Top Headlines
This week's top League headlines
Governmental Affairs News
This week in Florida politics: Early voting begins, House Speaker-designate names leadership team
This week in Alabama politics: No surprise in congressional elections, special House elections
News from the Hill: One week of campaigning left until elections
Tallahassee meet-and-greet brings 19 candidates
Video points viewers to voting resources
Compliance Corner
League InfoSight highlight: Field of Membership
CUNA Regulatory Advocacy Report - Week of Oct. 29
Compliance calendar and training
Cooperative Initiatives News
Credit unions prepare for Miracle Jeans Day, holiday edition, on Dec. 5
Education News
LISTEN: Leadership Development Conference Audio Podcast with Ken Gronbach
LDC to offer special session on new FREE online tool, PolicyPro
Education Calendar
LEVERAGE News
Ventelligence continues to be premier tool for credit unions
LEVERAGE takes part in Broward/Southernmost golf outing
News from You
Alabama Telco celebrates International Credit Union Day
EMPLOYMENT
View available credit union jobs
In This Issue
spacer
eNews Links
Forward to a Friend
Print Version
Unsubscribe from
LSCU eSignal Weekly
Be sure to follow LSCU:
Social Networking Links
Patrick La Pine on Twitter
eNews Links
spacer
President's Point

Costa Rican credit unions have many of the same struggles

Earlier this month I had the opportunity to represent the LSCU & Affiliates in Costa Rica as part of International Credit Union Day / Year of the Cooperative festivities. The Federation of Credit Unions of Costa Rica (FEDEAC) held its 13th anniversary and conference - “Cumbre de Liderazgo de Las Cooperativas de Ahorro y Crédito.” For the first time, the event included education sessions. Innovations FCU CEO David Southall also made the trip, and we both made presentations to the attendees about utilizing technology to better communicate with members and modernizing branches. I also made visits to San Jose area credit unions as well as visited with state lawmakers and regulators. What struck me during the visits was how similar the issues facing credit unions in the states are with the credit unions in Costa Rica despite being two vastly different countries and cultures.

(l to r) LSCU President/CEO Patrick La Pine, FEDEAC President/CEO Manuel Bolanos and WOCCU President/CEO Brian Branch.

There are 31 credit unions in Costa Rica, however 85 percent of the deposits and members are concentrated in just five large credit unions. I visited two of them in the capital city and was amazed at how sophisticated their product and service offerings were. I expected them to be behind credit unions in the United States but they were actually further ahead in some cases. Because their regulation is less stringent than ours, the credit unions are able to innovate without regulatory chains binding them. I spoke to the conference on technology and how the League and our credit unions are using it.

As I sat with the Costa Rican regulators, I was amazed at how we were talking about the same problems we have in Alabama and Florida – too much regulation and how regulators are treating credit unions the same as if they were banks. One thing we have in common is the need for greater legislative advocacy. This is a big step for them – getting credit unions to understand the importance of grassroots lobbying. As we’ve seen here in the states, we have our advocates, but, as a whole, Congress or local legislators don’t actively seek us out very often on financial issues. On the trip I met with what would be considered their Speaker of the House. It was nice to hear firsthand how the countries policy makers view credit unions and their role in helping to grow Costa Rica’s economy going forward.

For a number of years now, Alabama credit unions have had a working relationship with Costa Rican credit unions. Once the LSCU was formed, the relationship was extended to include Florida. Last year some of the Costa Rican credit union officials toured some Alabama credit unions. This was about six months after a group of Alabama and Florida credit unions visited San Jose and the surrounding areas. David Southall and I were honored to speak to the FEDEAC attendees and share what we’re doing in the states and how they can modernize their branches away from the traditional teller lines.

What stayed with me after the trip is how much we can learn from each other. That surprised me during the trip. Over the next few months I’m going to meet with our staff to see how we can expand and deepen our partnership with Costa Rica. I would love to have more meetings between our credit unions and the ones from Costa Rica. We talk about collaboration among our credit unions. Extending that collaboration to our friends in Costa Rica will take the concept to a higher level. Watch for more information from us in 2013.

Check out the LSCU Facebook page for more pictures. Please email if you would like to comment on this column.

  [ Return to Top ]

LSCU Top Headlines
This week's top League headlines

Brokaw, Chatzky added to CUNA GAC lineup
The CUNA GAC added two big names to the lineup for the Feb. 24-27, 2013 conference. Former NBC anchor Tom Brokaw and personal finance journalist Jean Chatzky are the first two names announced for the GAC, which is held in Washington, D.C. A number of lawmakers and others guests will be announced over the coming months. Check the LSCU CUNA GAC Resources page for hotel and registration information. 

NCUA adds Laster to senior management
NCUA Chairman Debbie Matz announced on Oct. 26 that Gail Laster has been named as the new director of the Office of Consumer Protection. Laster most recently has been the deputy chief for the House Financial Services Committee. She will replace Kent Buckham who will retire at the end of the this year after 35 years with the NCUA. Read more on the NCUA's website.

NCUA to make changes to Call Report requirements
The CU Times is reporting that the NCUA will make major changes to the Call Report requirements. Among the changes are now requiring credit unions to report troubled debt restructuring instead of modified loans. The new reporting will begin in Dec of 2012. You can read more by visiting the CU Times.

LISTEN: New audio podcast
The League has recently published an audio podcasts in the the LSCU Audio Podcast Center. LSCU Communications Coordinator Joseph Davis interviewed NCUF National Program Manager Lois Kitsch about the credit union philosophy and its implementation. To listen to the most recent audio podcast click here.

[ Return to Top ]

Governmental Affairs News
This week in Florida politics: Early voting begins, House Speaker-designate names leadership team

Early Voting Begins in Florida
Eight days of early voting began this past Saturday, and both parties and many organizations are urging people to take advantage. Not only can people go to any early voting site in their county through Saturday, Nov. 3, but many counties keep their sites open 7 a.m. to 7 p.m. each day. The ballots are four pages long and about 3,000 words -- one of the longest ballots ever in the history of Florida. Because of the complexity of the ballot, voting could take longer than usual and lines at the polls could be long. This year's early voting period is shorter than in previous elections. Voting rights groups concerned about problems with access unsuccessfully filed court challenges to a reduction in the number of days, but most larger counties will keep the early voting sites open 12 hours each day, so the number of hours of early voting will remain the same as previous years. Officials say more than 1.1 million Floridians have already cast ballots through mail-in absentee voting with Republicans leading the way 45 percent to the Democrats' 39 percent.

House Speaker-designate Weatherford Names Leadership Team
Incoming House Speaker Will Weatherford (R-Wesley Chapel) announced three members of his leadership team that will help manage the 120-member chamber, and maneuver bills through the process. Rep. Rob Shenck (R-Spring Hill) will take over as Rules Committee chairman from Rep. Gary Aubuchon (R-Cape Coral) who mounted a failed bid for a Congressional seat. Rep. Marti Coley (R-Marianna) will be the new speaker pro-tempore, replacing Rep. John Legg (R-Port Richey) who is moving to the Senate. Rep. Chris Dorworth (R-Lake Mary) already in line to be House Speaker after Weatherford’s two-year stint, was tapped as Majority Leader, filling Rep. Carlos Lopez-Cantera’s role from last year. The Miami Republican is leaving the Legislature to be the Miami-Dade County Property Appraiser. Weatherford has already named Rep. Seth McKeel (R-Lakeland) as chairman of the Appropriations Committee. Lawmakers will hold a one-day reorganization session on Nov. 20.

Campaign Roundup - The Home Stretch
As the campaigns head into crunch-time, check out The Florida Current’s profiles of close races that could mold the legislative outlook and agenda for the next two years: House District 89, House District 34, Senate District 14 and Senate District 34.

The Orlando Sentinel reports that emails forming the basis of an ethics complaint against Democrat Karen Castor Dentel, who is running against incumbent Rep. Scott Plakon (R-Longwood) for the House District 30 seat, are not as damning as charged in an attack ad paid for by the Republican Party of Florida (RPOF). The ethics complaint, made by a Plakon supporter, accuses Dentel of using public resources to campaign while an Orange County public school teacher.

Renier Diaz de la Portilla lost out in the House District 103 GOP primary to Manny Diaz Jr., but had apparently defeated him in the race to be a Republican state committeeman. That is, until this week when RPOF informed him his loyalty oath to the party wasn’t submitted in time, the Miami Herald reports. The committee position was given to Diaz.

The Orlando Sentinel takes a look at Rep. Chris Dorworth’s bid for re-election. The Lake Mary Republican, in line to be House Speaker in 2014, faces Democratic challenger Mike Clelland. Democrats say the race is close, but Republicans claim it’s a walk.

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. [ Return to Top ]

This week in Alabama politics: No surprise in congressional elections, special House elections

Congressional Elections Should See No Surprises
With Alabama’s Congressional Elections just one week away, there should be no surprises as to who the victors will be. All seven of Alabama’s incumbent members of Congress will be re-elected on Nov. 6. While you will still see several on the ballot next Tuesday, at this point it is all for show. Alabama’s congressional seats are firmly in the hands of the parties that represent them now, six Republican seats and one Democrat, and that should not change at any time in the near or distant future. Below is a list of the seven congressional districts and the current representatives in those seats.

District            Name                      Party

1                       Jo Bonner               R
2                       Martha Roby           R
3                       Mike Rogers           R
4                       Robert Aderholt      R
5                       Mo Brooks               R
6                       Spencer Bachus    R
7                       Terri Sewell             D

Special Elections for Alabama House
Two primary special elections were held on Tuesday to see who would represent the Republican Party in the general elections scheduled for Dec. 11. House Districts 30, eastern Etowah County and northern St. Clair County, and 34, most of Blount County and part of Jefferson County, found themselves without representation when Gov. Robert Bentley appointed Blaine Galliher and Elwyn Thomas to positions in his cabinet or on his staff.

In the House District 30 primary election, Mack Butler defeated Rob McHugh 55 percent to 45 percent and will face Democrat Beth McGlaughn in December.  HD 30 is a heavily Republican district and Butler is the strong favorite to win.  In the HD 34 race, David Standridge will face Chris Latta in a primary run-off on Dec. 11. The winner of this run-off will represent the district in Montgomery because no Democrat qualified to run.

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 ]

News from the Hill: One week of campaigning left until elections

News from the Hill

With one week to go until elections, most senators and members of Congress are focused on either their re-election campaigns, or campaigning for fellow members and the presidential nominees of their respective parties. Couple that with the closure of most offices in Washington, D.C. due to the impending arrival of Hurricane Sandy, and there is not a whole lot going on up at the Capitol right now.

With this in mind, there is plenty going on back at home in Alabama and Florida. It has never been more important to keep the grassroots pressure on lawmakers as it gets closer to their return for the “lame duck” session. Last week, you received an Action Alert from the League requesting that you contact your senators to remind them of the importance of S.2231, the Credit Union Small Business Jobs Act, by Senator Mark Udall (D-CO). In addition to the alert, more information was sent regarding the upcoming National Hike the Hill on Nov. 27-28, the week following Thanksgiving. Both the alert and the Hike are crucial grassroots activities that need your participation in order to be successful. Several Alabama and Florida credit unions have already expressed interest in joining the League in Washington, and the League is looking forward to bringing the credit union message of job creation to the Hill.

Further, if you have the opportunity to see your senator or member of Congress while they are at home in the district, please take the opportunity to do so. There will be several town hall meetings, campaign events, and other constituent meetings that you can attend. If the League is aware of any in your area, it will do its best to reach out and let you know.

For questions regarding the News from the Hill Update, contact LSCU VP, Governmental Affairs Jared Ross at 866.231.0545 ext. 1012 or LSCU Director, Governmental Affairs Jason Cochran at ext. 2159. [ Return to Top ]

Tallahassee meet-and-greet brings 19 candidates

 

On Oct. 22, the Tallahassee Chapter of Credit Unions hosted its annual Political Meet and Greet. Envision CU hosted the event at its downtown Tallahassee headquarters. Candidates ranged from the County Commission to the U.S. House of Representatives. Each candidate was given two to three minutes to address the crowd of nearly 100. While opponents offered differing views, there was one common theme throughout the night; credit unions play an important role in their communities.

Below are a list of candidates that attended the Tallahassee meet-and-greet:

  • Lisa Sprague, candidate for Sheriff
  • Major Alan Griner, representing Sheriff Larry Campbell
  • County Commissioner Akin Akinyemi
  • Mary Ann Lindley, candidate for County Commission
  • County Commissioner Jane Sauls
  • Kirk Headley-Perdue, candidate for County Commission
  • Steve Stewart, candidate for City Commission
  • Scott Maddox, candidate for City Commission
  • Willie Meggs, State Attorney, Circuit 2
  • Pete Williams, candidate for State Attorney, Circuit 2
  • Judge Josefina Tomayo, Circuit Court Judge
  • Barbara Hobbs, candidate for Circuit Court Judge
  • Evan Power, candidate Leon Soil & Water Conservation
  • Bill Helmich, candidate Leon Soil & Water Conservation
  • Brittany Floyd, representing Halsey Beshears, candidate for State House District 7
  • Rep. Michelle Rehwinkel-Vasalinda, State House District 9
  • Bradley Maxwell, candidate for State House District 9
  • Former Sen. Al Lawson, candidate U.S. House of Representatives District 2
  • Rep. Steve Southerland, U.S. House of Representatives District 2

See more pictures on the LSCU Action Center Facebook page.

[ Return to Top ]

Video points viewers to voting resources

In a new video posted in the LSCU Video Room, LSCU VP, Governmental Affairs Jared Ross talks about all of the resources available for credit unions ahead of the Nov. 6 elections.The LSCU Action Center houses a voter's guide for the races in Florida. Alabama has no state races the LSCU has a stake in. There are also Congressional Scorecards for Alabama and Florida. 

Jared also points viewers to the Campaigns and Elections webpage for resources to find you lawmakers and to answer voting questions.


[ Return to Top ]

Compliance Corner
League InfoSight highlight: Field of Membership

Federal credit unions may have one of four types of charters, defining the common bond/field of membership that they may serve.

The four types of charters are:

  • Single-occupational common bond   
  • Single-associational common-bond   
  • Multiple-occupational/associational common-bond
  • Community

For descriptions of each of these types of charters, visit the Field of Membership topic on InfoSight. For a complete description of the rules and procedures regarding each charter type, refer to the NCUA Chartering and Field of Membership Manual.

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.

  [ Return to Top ]

CUNA Regulatory Advocacy Report - Week of Oct. 29

This week's edition of the CUNA Regulatory Advocacy Report covers issues such as: Credit union representatives named to Fed’s Community Depository Institutions Advisory Council, CFPB finalizes rule on defining larger participants of the consumer debt collection market, WOCCU participates on financial stability board legal identifier project, and more.

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

Compliance calendar and training

November 2012    

  • Nov. 4: Daylight Savings Time Ends
  • Nov. 12: Veterans' Day - Federal Holiday
  • Nov. 22: Thanksgiving Day - Federal Holiday

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.

  [ Return to Top ]

Cooperative Initiatives News
Credit unions prepare for Miracle Jeans Day, holiday edition, on Dec. 5

This holiday season, thousands of kids across North America will be spending their holidays in a children’s hospital fighting scary things like cancer, leukemia or one of many other terrible illnesses or injuries. Their untraditional wish list may include things like good health, a day without pain or a medical miracle.  You can help make their holidays a little brighter and give them hope for a better future. Just donate and trade your work attire for jeans (and maybe a holiday sweater too!) on Dec. 5. 

It’s so simple to give! Visit the Miracle Jeans Day (MJD) website and register to participate in Miracle Jeans Day and receive downloadable stickers or icons. You can also order Miracle Jeans Day stickers or T-shirts to enhance your holiday event.

Every dollar you raise or donate goes to help kids in your community. Your support promises to create miracles for local kids and their families this holiday season.

Join the League and other credit unions help your Children's Miracle Network Hospital make miracles happen.  Participate in Miracle Jeans Day on Wednesday, Dec. 5. For more information, visit the MJD website or contact them by email today.

[ Return to Top ]

Education News
LISTEN: Leadership Development Conference Audio Podcast with Ken Gronbach

Demographer and KGC Direct President Ken Gronbach

Now that the 2012 Leadership Development Conference (LDC) is less than two weeks away, credit unions that will be attending can get a sneak preview of one of the conference presenters Ken Gronbach.

LSCU Communications Coordinator Joseph Davis recently interviewed Gronbach about this year's conference, and the role of demographics. Gronbach talked about where demographics stand in the perception between banks and credit unions, what credit unions are missing with Gen X and Y, what kind of opportunities are present for credit unions, and what other aspects attendees can expect from his discussion at this year's LDC.

To listen to the Leadership Development Conference audio podcast, click here. There's still time to register if you'd like to attend the conference. Visit www.lsculeadership.com for more details and to register online. [ Return to Top ]

LDC to offer special session on new FREE online tool, PolicyPro

In addition to the online tools, InfoSight and RateMap, offered as a value of membership, the league has now  another tool to add the arsenal, PolicyPro. PolicyPro is an online resource with nearly 200 credit union specific model operations policies.

In this special session at the Leadership Development Conference (LDC), learn how to get the most from CU PolicyPro. In partnership with the LSCU, affiliated credit unions now have access to CU PolicyPro from League InfoSight. This session is designed to help credit unions take full advantage of CU PolicyPro’s extensive features. Take this time to learn how to customize the model policies for your credit union; keep policies up-to-date; manage user access; and provide your staff, board members, and examiners access to your policies. The session will also include a question and answer session to help you learn specific ways to best use CU PolicyPro in your credit union.

There is still time to register for the 2012 LDC! Visit www.lsculeadership.com for more information and to register online.
[ Return to Top ]

Education Calendar

Upcoming Events:

Tuesday, Oct. 30
Frontline Series: Business Accounts: Who is Authorized to Open, Close, Transact?
3 to 4:30 p.m. EST - Webinar

Tuesday, Nov. 6
The March 2012 Deadline Has Passed: Do Your ATMs Meet Accessibility Requirements?
3 to 4:30 p.m. EST - Webinar

To view the complete LSCU Events Calendar, click here. To view LSCU's 2013 Education Calendar at-a-glance, click here.

  [ Return to Top ]

LEVERAGE News
Ventelligence continues to be premier tool for credit unions

For the past four years, Ventelligence has been a premier platform for the management of vendor contracts and collection of National Credit Union Administration (NCUA) required due diligence. The Ventelligence software allows credit union personnel to:

  • Create a contract record for each individual contract into the system
  • Attach the scanned contract to the contract record
  • Receive trigger emails for key dates/timeframes
  • Complete Vendor Risk assessments 
  • Answer NCUA required due diligence questions about their vendors

With the NCUA focusing more on vendor due diligence and risk assessments, Ventelligence has assisted many credit unions to easily pass their examinations.  Although Ventelligence has assisted credit unions with their vendor management activities, there was still a demand for a more robust and less time-consuming contract management solution so, in 2011, LEVERAGE began offering a full-service contract management solution. With this solution, the Ventelligence team engages in the following activities on behalf of the credit union:

  • Review each individual contract for key dates, terms, and clauses
  • Create a contract record for each individual contract into the system
  • Coordinate the collection of comprehensive due diligence information from all high and medium risk vendors
  • Review due diligence information for completion and updated information
  • Analyze audited financials and communicate results to credit union
  • Review and analyze SSAE16/SOC 1 reports and communicate results to credit union
  • Conduct a Limited Review of vendor due diligence responses 
  • Attach all required documents to each individual contract record for comprehensive information required for the NCUA or state examination
  • Review all contracts to identify opportunities to reduce expenses or improve contract terms
  • Provide the credit union with sample policies to implement within their organization

Many credit unions are currently utilizing the full-service contract management solution. These credit unions can view their contracts in an organized and efficient database, as well as create custom reports based on risk levels, renewal dates, and any other information associated with their contracts. In addition, all of the full-service clients who have had their NCUA or state examinations have successfully passed.

Full-service contract management offered by LEVERAGE assists credit unions with organizational efficiency as well as NCUA compliance, all while saving valuable time and resources.

If you are seeking a time-saving solution to improve how your contracts are managed, contact a LEVERAGE Business Development Consultant to see how Ventelligence can positively impact your credit union. [ Return to Top ]

LEVERAGE takes part in Broward/Southernmost golf outing

Earlier this month LEVERAGE VP of Business Development Mary Elicia Del Santo, left, took part in the Broward/Southernmost golf outing. Del Santo played with Sun CU CEO Pat Mason, middle, Sun CU Director Ted Beutner, and LSCU Member Relations Specialist David LeNoir (not pictured).


[ Return to Top ]

News from You
Alabama Telco celebrates International Credit Union Day

In honor of International Credit Union Day this month, Alabama Telco Credit Union shares the most popular reasons why people choose to bank at a credit union.

  1. Equal Ownership
  2. Not-For-Profit
  3. People Helping People
  4. Volunteer Leadership
  5. Financial Education

“The credit union movement has come a long way over the past few decades,” states Stanton Davis, Alabama Telco’s vice president of marketing. “More and more people now understand they have options when it comes to where they bank. This has become very evident in our most recent economic times. We want people to know credit unions are here to help, and you can trust us with your financial goals.”

Since 1948, International Credit Union Day has been celebrated annually on the third Thursday of October. It’s a day to commemorate the credit union movement’s impact and achievements while promoting awareness of and support for the credit union difference.

International Credit Union Day is sponsored by the World Council of Credit Unions, the international trade association and development agency for credit unions worldwide, and numerous national credit union trade associations and federations around the world.

[ Return to Top ]

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. [ Return to Top ]

footer
 
Twitter Facebook YouTube