LSCU eSignal Weekly
LSCU eNews Weekly November 5, 2012
home button press room button contact us button
LSCU eNews Weekly
In This Issue
President's Point
The LSCU and CUNA tour Florida talking with CEOs and directors
LSCU Top Headlines
This week's top League headlines
Governmental Affairs News
This week in Florida politics: Bondi, lawmakers agree on foreclosure issue, campaign roundup
This week in Alabama politics: 11 amendments on election ballot, Chief Justice race worth watching
News from the Hill: Election week, National 'Hike the Hill' this month
Compliance Corner
League InfoSight highlight: Suspicious Activity Reports
CUNA Regulatory Advocacy Report - Week of Nov. 5
Compliance calendar and training
Education News
Important information for attendees of Leadership Development Conference
Education Calendar
LEVERAGE News
CMG launches TruStage national consumer brand for CUs
Martin FCU saves through ePurchasing
News from You
Pen Air FCU taking donations for Red Cross relief efforts
DCH has grand re-opening of lobby
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

The LSCU and CUNA tour Florida talking with CEOs and directors

Two weeks ago CUNA President/CEO Bill Cheney and I traveled the state of Florida by trains, planes, and automobiles (ok, no trains), but we stayed one step ahead of Hurricane Sandy. We talked to credit union CEOs and directors, in group settings and one-on-one meetings, about what our two organizations have been up to and what we are doing to increase the value of affiliation. Part of this trip was designed to meet one-on-one with non-affiliates. We hope to do a similar road trip in Alabama next year.

Over three days, we met with about 20 credit unions. We started the trip in Pensacola, worked our way to mid-Florida, and ended our tour in the Miami area. The League’s affiliation rate is about 81 percent, which is up from 76 percent at the time of consolidation. CUNA’s affiliation rate currently stands at 85 percent. For many trade associations, this would be considered an excellent affiliation rate. Neither Bill nor I are satisfied until our affiliation rate is 100 percent, which we realistically know will never happen, but we feel we can come pretty darn close if we continue to provide proven results and communicate them effectively to the movement.

With everything going on right now in Washington, D.C. around the elections and the upcoming “lame duck” session, it shows how much Bill cares about credit unions to come to the Southeast and travel the state for three days. Our roundtable discussions over dinner and breakfasts with CEOs went very well. The conversation was pointed, and Bill was asked many good questions about advocacy and the need for more wins and more

CUNA President/CEO Bill Cheney speaks with Southernmost Chapter CEOs on his recent tour of credit unions along with LSCU President/CEO Patrick La Pine.

credit union involved. I think many came away from these meetings understanding the importance at the state and federal level for active grassroots involvement if we are going to move our industry’s agenda forward. A question that came up quite a bit was on our efforts at the state level. Many federal credit unions didn’t see the direct benefits because of their charter. Almost all decisions out of Montgomery and Tallahassee affect all credit unions regardless of charter. The need to reform judicial foreclosures is but one example of what the LSCU is doing for credit unions at the state level that affects all credit unions' bottom-line.

Involvement was one of the themes with our meetings with non-affiliates. We all know that our non-affiliates still benefit from the efforts of CUNA and the Leagues. Bill and I stressed that we need every credit union to be involved to perfect change. With some doing the heavy lifting while others sit on the sidelines doesn’t work. We all need to be engaged and actively involved to show the strength that we have as a collective group. Our non-affiliates asked great questions and had good knowledge of the changes we’ve made and what we are doing to move our Alabama and Florida credit unions forward. I feel confident some will come back soon.

One thing we showed our non-affiliates is the value the League brings. I hope all of you see that value. Right now I am working with the board of directors on next year’s strategic plan and budget on how we can share our success with our member credit unions.  Stay tuned. Please email if you would like to comment on this column. [ Return to Top ]

LSCU Top Headlines
This week's top League headlines

NCUA narrows corporate assessment range
On Nov. 1, the NCUA announced that legacy assets were performing well and that the upper end of the range for the corporate assessments has been narrowed. These are the funds associated with the Temporary Corporate Stabilization Fund. The future projected range is now between $1.9 billion and $4.8 billion. Read more on the NCUA's website.

Corporate America hires new CEO
Last week Corporate America Credit union, based in Irondale, AL, announced the hiring of Pete Pritts as its new CEO. Pritts comes to Corporate America from First Corp FCU where he was president/CEO. He has more than 25 years of experience in the industry. Read more on the LSCU Top Stories.

Florida OFR Commissioner begins job
A month after being appointed by the Florida cabinet, Drew Breakspear began his job as commissioner of the Florida Office of Financial Regulation (OFR). Breakspear comes to OFR after most recently serving as the EVP and general auditor for State Street. He has more than 40 years experience in financial services.

CUAid activated for Hurricane Sandy
Credit unions that would like to make donations to help credit union victims of Hurricane Sandy can do so through CUAid. The National Credit Union Foundation (NCUF) activated CUAid in the wake of the devastation up and down the east coast. One hundred percent of the money raised goes to credit union disaster relief. Read more and donate by visiting the NCUF's website

Upcoming PolicyPro webinar
In the first few weeks of being put into action, PolicyPro has had 22 credit unions sign up. PolicyPro is a dues-supported "free" service offered by the League. The League will soon be offering a webinar to explain in more detail how PolicyPro works. For more information on the webinar, contact LSCU VP, Compliance Training & Information Bill Berg at 866.231.0545 ext. 1028. [ Return to Top ]

Governmental Affairs News
This week in Florida politics: Bondi, lawmakers agree on foreclosure issue, campaign roundup

Bondi and Lawmakers Agree on Foreclosure Settlement Spending
Florida received $8.4 billion as part of the $25 billion settlement with the banks - Bank of America, JP Morgan Chase, Wells Fargo, Citigroup and Ally Financial - over suspicious foreclosure practices that were said to have rushed through foreclosures with shoddy paperwork. About $7.6 billion will go directly to affected homeowners for loan modifications and principal reductions; $170 million in cash payments will go to homeowners unfairly foreclosed upon between 2008 and 2011; and $309 million will help underwater homeowners refinance their loans. The remaining $334 million went to the state in a direct payment, $34 million of which went into the state coffers as a civil penalty.

Although several states decided to spend their direct payments from the settlement to plug budget holes or for other non-housing purposes, Attorney General Pam Bondi said the agreement with the legislature ensures most of Florida’s direct payment is spent to alleviate the still-struggling housing sector. “This plan gets much-needed assistance to the homeowners and communities suffering the effects of the foreclosure crisis, and ensures that the settlement funds are spent with the transparency, accountability, and flexibility that come from the legislative process,” Bondi said. To read more, click here.

Campaign Roundup: The Finish Line
The Miami Herald reports 3.5 million Floridians have cast absentee or early voting ballots, with Democrats having a nearly 76,000-voter edge over Republicans as of Friday.

Sen. Maria Sachs (D-Delray Beach) called on her opponent for the Senate District 34 seat, Sen. Ellyn Bogdanoff (R-Fort Lauderdale), to renounce a mailer by the Republican Party of Florida attacking her for voting against the state budget, which included funding for the Florida Holocaust Museum, the Palm Beach Post reports. Bogdanoff defended the mailer.

The House District 49 race between Democrat Joe Saunders and Republican Marco Pena, both first-time candidates, is attracting lots of outside money and, is getting nasty, the Orlando Sentinel reports. The attacks are happening in a new seat in east Orange County where total campaign spending is expected to top $1 million, and they underscore the venomous nature of big-dollar elections in Florida — even in a race between two candidates who have never held elected office before.
 
Former Republican Rep. Aaron Bean and Democrat Nancy Soderberg traded verbal blows during a radio debate in the Jacksonville-area Senate District 4 seat, the Florida Times-Union reports. During an hour-long debate Monday, the candidates vying for an open Northeast Florida state Senate seat talked policy and traded punches on issues ranging from education to job creation.

To read the complete Florida Politics Week in Review, highlighting Election Day news, 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: 11 amendments on election ballot, Chief Justice race worth watching

11 Amendments on Tomorrow’s Ballot
On the Nov. 6 ballot, Alabamians will see 11 constitutional amendments that will ask for a “yes” or “no.”  While there has been considerable advertising during the last several weeks, mainly due to Alabama’s recent history of voting down constitutional amendments, The Montgomery Advertiser has put together a list of all 11 amendments along with a brief summary. Click here for a link to the article.

Chief Justice Race May Be Worth Watching
While there will be little or no excitement on Nov. 6 with Alabama’s congressional seats, one race to potentially watch will be that for Chief Justice of the Alabama Supreme Court. Former Chief Justice Roy Moore, famous for his Ten Commandments statue and being removed from office, is facing Jefferson County Circuit Judge Robert Vance Jr., son to assassinated Federal Judge Robert Smith Vance.

Moore won a Republican Primary with three candidates without a run-off, something no one predicted. Both of the other candidates had more money and Montgomery insiders didn’t think Moore stood a chance against either. Vance was nominated to the position of candidate by the Democratic Party after the original Democratic nominee was removed from the ballot due to inappropriate comments.

Most polls have Moore in the lead, but Vance has out-raised and spent more money than Moore and, is campaigning hard. Vance has also picked up several endorsements from newspaper editorial boards and even Republican judges from around Alabama. It will be tough for Vance to win, to overcome the negative view Alabama voters have toward Democrats running for judicial seats, but it could be a race worth watching. After all, a Democrat did win the seat the last time it was up for election.

Quail Hunt for LSCU FedPAC
The League will be hosting its first annual Credit Union Quail Hunt at Doublehead Resort in Town Creek, AL on Jan. 18-19. All proceeds from the hunt will go to the LSCU FedPAC. The hunt starts at $290 for a half-day hunt and will include a hat, guide, dogs, snacks, cleaning and packing of your birds, and entry into the Clay Shooting Contest. The hunt will also include a networking dinner on Friday, Jan. 18. Overnight accommodations are available. For 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. [ Return to Top ]

News from the Hill: Election week, National 'Hike the Hill' this month

Election week is upon us. Senators and congressional members are still deep in campaign mode with their last efforts to win their election or help their friends get elected. After Tuesday’s elections, their focus will once again shift to their lawmaking responsibilities as the Senate and Congress will soon head back to Washington for the “Lame Duck” session. Credit unions need to continue their grassroots efforts now and when they return.

The LSCU Action Alert for MBL is still active. To take part in the MBL Action Alert, go to www.lscuactioncenter.com and click on My Advocacy. (Login required.) Under Current Issues, locate  Member Business Lending, and click on the Take Action link.

The League is still recruiting credit union executives and small business members to join credit unions for 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, D.C. and the League is looking forward to bringing its message of job creation to the Hill.

If you cannot make it to the Hike the Hill, another opportunity for grassroots involvement is to get your small business members to write letters to Senators in both states about the importance of access to capital and how raising the MBL cap for credit unions would help. This is a crucial activity that can help tell the small business story while the League is in Washington in a few weeks.

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 ]

Compliance Corner
League InfoSight highlight: Suspicious Activity Reports
An effective Bank Secrecy Act compliance program will be able to recognize that certain transactions are suspicious in nature. A credit union must know its members to be able to make an informed decision as to the suspicious nature of a particular transaction and whether to file a Suspicious Activity Report (SAR).

SARs can be filed on any transaction occurring in any department. SARs must be filed no later than 30 days after the date of initial detection of facts that may constitute a basis for filing a SAR.

Remember that the Financial Crimes Enforcement Network (FinCEN) has mandated that the SAR reports (and Currency Transaction Reports) be filed electronically through the BSA E-Filing System beginning July 1, 2012.

To find out more about Suspicious Activity Reports, 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 Nov. 5

This week's edition of the CUNA Regulatory Advocacy Report covers issues such as: CUNA Urges more changes to the CFPB’s Final International Remittance Transfers Regulation to help credit unions, FHFA /CFPB develop national mortgage database, NCUA  board issues its 2013 Meeting Schedule, 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 ]

Education News
Important information for attendees of Leadership Development Conference

The LDC starts tomorrow, and we want to make sure you have the ultimate experience while you are learning and networking! Below is a quick to-do list to ensure you experience the conference at its fullest.

Before you leave for Point Clear be sure to:

1.  Print out any handouts for the sessions you will be attending. In the LSCU's effort of "going green," session handouts will be available online only; hard copies of session handouts will not be available onsite. Session handouts/presentations are available on individual session pages on www.lsculeadership.com. Click on the Schedule at-a-Glance and the title of the session you plan to attend. If the speaker has provided a handout, it will be located in a box on the right side of the page. For example, if you plan to attend the session "Lending Oversight" with speaker Mike Petrone, go to the schedule at-a-glance and click on "Lending Oversight." Once you're on that webpage, the presentation link will be on the right in a box under "Speaker Presentation." If you have a tablet, you can download the presentations to it.

2.  Check out the many free activities available for guests while staying at the Grand Marriott. There is a variety of free activities for you and your guests to enjoy while you're staying on property. For a complete list of activities, free and fee-based, click here.

3.  "Like" our Facebook page to win a Keurig Gourmet Single Cup Coffee Brewer donated by Office Depot in the "Post for the Ultimate Roast" Contest! After you check in for the conference, go to the "Post for the Ultimate Roast" area (located in the registration area) and guess how many coffee beans are in the jar. Post your guess to our Facebook page in the comments section under the Post for the Ultimate Roast image by 9 p.m. CT, Thursday, November 8. The attendee who is first to post the closest number to the actual amount of coffee beans wins the Keurig! The winner will be announced Friday morning during the Closing General Session. You must be a fan of our Facebook page, an attendee at the LDC, and present at the closing session to win.

4. Vote. Nov. 6 is Election Day and also the day many of you will be traveling to the conference. If you need to do some more research on your legislators and where they stand on credit union issues, the League has put together several resources in the LSCU Action Center on www.lscuactioncenter.com.

[ Return to Top ]

Education Calendar

Upcoming Events:

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

Wednesday, Nov. 7
Director Series: The Board’s Role with the Loan Committee
3 to 4:30 p.m. EST - Webinar

Thursday, Nov. 8
Top 10 IRA Issues: Compliance, Minimum Distributions, Reporting & Year-End Issues
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
CMG launches TruStage national consumer brand for CUs

In a milestone effort aimed at helping credit unions reach more of their rapidly growing membership, CUNA Mutual Group has launched the most extensive direct-to-consumer campaign in its nearly 80-year history.  The TruStage consumer brand debut follows nearly two years of research focused on understanding credit union members’ behaviors and needs.

TruStage will reach the credit union member through a more engaging marketing experience, including a new web site co-branded with credit unions at www.trustage.com. The web connection is one component of a long-term CUNA Mutual Group strategy to help credit unions deepen member relationships and grow non-interest income by providing much needed member insurance and investment products.

CUNA Mutual Group began selling insurance and financial services to credit union members almost 30 years ago through direct mail marketing. Today, in partnership with credit unions, the company protects nearly 14 million members. With credit union membership at 95 million and growing – the company recognized the opportunity to do even more.

“Credit union pioneers who founded CUNA Mutual Group believed insurance was as important to the credit union movement as savings and credit. With more and more consumers turning to credit unions, that premise remains true today,” said Bob Trunzo, President, CUNA Mutual Group Insurance & Financial Services. “We are firmly committed to protecting and serving more members. The creation of a powerful, new insurance brand designed especially for members is essential in demonstrating to consumers the benefits of credit union-endorsed insurance coverage.”

To read the complete release on CMG's TruStage campaign, click here. [ Return to Top ]

Martin FCU saves through ePurchasing

Martin FCU, based in Orlando, was looking to upgrade its janitorial service once the vendor's contract was up. By utilizing ePurchasing through LEVERAGE, Martin FCU was not only able to see a 10-percent savings on its new janitorial contract, it was also able to choose the vendor it was most comfortable with. This is a piece of ePurchasing that often goes unnoticed.

Ventelligence's ePurchasing platform does almost all of the work for credit unions saving them time and money. For Martin FCU, this included vendor due diligence, coordinated vendor site visits, analyzed final bids for best results, and final negotiations with the vendor. In the end, Martin was able to choose the vendor it was comfortable with and felt would improve its janitorial services.

For more information on how your credit union can see significant savings on vendor contracts, contact a LEVERAGE Business Development Consultant.

[ Return to Top ]

News from You
Pen Air FCU taking donations for Red Cross relief efforts

Following the destruction brought by Hurricane Sandy in the Northeast region of our country, Pen Air Federal Credit Union is collecting monetary donations for the relief efforts of the American Red Cross.

Funds will be collected at all Pen Air FCU locations during the next two weeks. This timeframe may be extended depending on the trends of donations as well as the needs of the American Red Cross.

“Our hearts go out to all those affected by this horrible storm,” said Pen Air FCU President/CEO Stewart Ramsey.  “Pen Air Federal Credit Union understands the mission of the Red Cross, and hopes our community will respond in helping support that mission.”

All funds collected will be sent directly to the American Red Cross to use in their relief efforts in the aftermath of Hurricane Sandy.

[ Return to Top ]

DCH has grand re-opening of lobby

On International Credit Union Day, DCH Credit Union, based in Tuscaloosa, cut the ribbon on the grand re-opening of its lobby. The location was heavily damaged from the 2011 tornado that struck Tuscaloosa. 

Among those present for the ribbon cutting were DCH CEO Angelic Pritchett (in purple jacket) and board members Sammy Watson and Bernadine Roberts and Board Member Emeritus Maxine Walker as well as City Councilman Kip Tyner.

[ 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