LSCU eSignal Weekly
LSCU eNews Weekly November 26, 2012
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LSCU eNews Weekly
In This Issue
President's Point
National 'Hike the Hill' coming this week
LSCU Top Headlines
This week's top League headlines
Governmental Affairs News
MBL bill could be considered any day
This week in Alabama politics: Armistead seeking re-election as GOP chairman, guns at work?
This week in Florida politics: New rules, new committees, Florida ranks highest in foreclosures
News from the Hill: Chambers return for post-election session, floor, committee schedules
Compliance Corner
League InfoSight highlight: Customer Identification Program
Compliance calendar and training
Education News
Save the date for ALM Trainings in 2013
Education Calendar
Cooperative Initiatives News
'Miracle Jeans Day' t-shirts now on SALE for just $10!
LEVERAGE News
Upcoming CO-OP webinar on future of payments
News from You
Former Campus CEO Louise Hinton passes away
EMPLOYMENT
View available credit union jobs
In This Issue
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President's Point

National 'Hike the Hill' coming this week

This could be a pivotal week for credit unions in Washington, D.C. A National "Hike the Hill" is coming up Tuesday and Wednesday. Credit unions and small business owners from across the country will be flying in to talk to federal legislators and their staff about raising the member business lending (MBL) cap. As you know, by raising the cap credit unions can infuse $13 billion into the economy and help create 140,000 new jobs.

More than a dozen credit union advocates from Alabama and Florida will be making the trip this week with the League. Joining us will also be several small business owner members of credit unions. The National Small Business Association is also sending a small business for our meeting with Sen. Marco Rubio’s (R-FL) office. These will be important meetings to set the stage for a possible vote on MBL legislation in the next couple of weeks.

CUNA recently held a meeting with Senate Majority Leader Harry Reid’s (D-NV) senior staff to look at ways to move MBL legislation through the “lame duck” session. Several scenarios were discussed including the bill being voted on by itself or becoming part of a "banking” package that would include MBL, TAG, and maybe some other banking related provisions. In the past, senators have shown an interest in supporting legislation that includes something for credit unions and something for the bankers. As you know, the bankers oppose this scenario, but with a few weeks left this year, if they don’t get TAG passed, this crucial piece of legislation will expire on Dec. 31. Credit unions don’t oppose the TAG extension being coupled with MBLs. We see it as a way for both sides to get much-needed legislation passed.

Sen. Reid’s staff told CUNA that the National Hike the Hill comes at a perfect time. They said putting MBL legislation on senators’ minds this week could be crucial to getting the bill passed before the holidays. Sen. Reid continues to stand behind his promise to get MBL legislation to a vote. This week will go a long way to helping put pressure on senators to pass the legislation and get it over to the House. We feel confident that once it makes it to the House that we have support to get it passed there, as well.

We appreciate all the credit unions that have lobbied for MBLs this year, taken part in Action Alerts and met with their senators in the district. For those credit unions not attending the National Hike the Hill, continue to take part in the MBL Action Alert and send a communication to your senator asking them to support raising the MBL cap. Be on the lookout for a new Action Alert coming tomorrow from the League. Sending a communication this week will only reinforce our efforts in Washington, D.C. To follow the progress of our meetings this week, stay connected through our Facebook page, and our Twitter feeds. Momentum is on our side, we need to make this last final push.
                                       
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LSCU Top Headlines
This week's top League headlines

Register now for the first annual Credit Union Quail Hunt
The LSCU 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 hunts start 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 trap shooting contest. The hunt will also include a networking dinner on Friday, Jan. 18. Overnight accommodations are available. For more information, download the 2013 Credit Union Quail Hunt Brochure.

November economic video available
The NCUA Chief Economist John Worth has posted his November economic update video. Worth talks about the latest economic trends and has an in-depth discussion about the potential impact that recent events—particularly Hurricane Sandy—will have on credit unions.The video can be found on the NCUA's YouTube channel.

Thrivent Financial Bank becomes a credit union
The NCUA approved the charter for Thrivent FCU. The new credit union is sponsored by Thrivent Financial for Lutherans, a fraternal benefits society. Thrivent has $500 million in assets, making it one of the largest faith-based credit unions in the United States. The credit union serves members in Minneapolis and Appleton, WI. Thrivent is the fourth new federally chartered credit union in 2012 and the fourth credit union to acquire bank assets. Read more on the NCUA's website. [ Return to Top ]

Governmental Affairs News
MBL bill could be considered any day

There are some strong rumblings in Washington, D.C. that Sen. Mark Udall's bill, S. 2231, the Small Business Lending Enhancement Act, might  be called to the floor any time over the next few weeks. Senate Majority Leader Harry Reid (D-NV) continues to say that he will bring the bill up for a vote this year. CUNA has been having some high level Senate staff meetings setting the stage for the bill to be brought before the Senate. 

The National Hike the Hill, Nov. 27-28, where 500 credit union advocates from across the country will be in Washington lobbying for MBL legislation, comes at a good time to reinforce to senators the need for the cap to be raised and how it will help small businesses.  

If S. 2231 does not come to the floor as a standalone bill, there is still the possibility of combining MBLs with the bankers’ TAG extension. The bankers have been running anti-credit union advs on local radio and Capitol Hill publications. The print ads were identical to the ads they ran earlier this month. CUNA sent the Senate a letter in response to the ads to show what raising the MBL cap would do for small businesses. 

Credit unions are encouraged  to continue to call and email their senators on this legislation. Visit the LSCU Action Center and click the "My Advocacy" icon to send an email. By sending the email this week it will show senators that this is an important issue and it will correspond with the National Hike the Hill meetings on Wednesday.  [ Return to Top ]

This week in Alabama politics: Armistead seeking re-election as GOP chairman, guns at work?

Armistead to Seek Another Term as GOP Chairman
Bill Armistead, current chairman of the Alabama Republican Party, has announced his intentions to seek re-election to the position early in 2013. He was elected in February 2011 over State Rep. Jay Love (R-Montgomery). Under Armistead’s leadership, the Republican Party recently completed a major goal of holding all of Alabama’s statewide elected offices.

At this time, no other candidates have announced their intentions to run against Armistead. However, there have been recent public disputes between the party chair and the Speaker of House Mike Hubbard, chairman of the Republican Party before Armistead, and Senate President Pro Tem Del Marsh. These disputes arise from a report that Armistead competed on contracts the GOP has with outside firms. Marsh has publicly stated that he wishes Armistead remain the party chair, but wants the report released.

Legislation Would Allow Guns at Work
For the third legislative session out of the last four, legislation is being introduced that would allow employees to bring firearms to their place of business as long as the weapons stay in the employees’ vehicles. The firearms would have to be secured and all other laws, federal and state, would have to be followed as well. The bill is being sponsored by Sen. Roger Bedford (D-Russellville) and is heavily supported by the National Rifle Association. The legislation’s major opposition, the Business Council of Alabama, says the bill intrudes on the property rights of businesses in Alabama.

This legislation did not receive a floor vote in the Senate last year.

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: New rules, new committees, Florida ranks highest in foreclosures

New Senate President Calls for New Rules and New Committees
Senate President Don Gaetz released the draft rules for the upper chamber last week, including new ethics restrictions for members and a slight shake-up of the committee structure. After hinting last month he would cut the number of education committees in half, Gaetz followed through, combining the K-12 and higher education policy committees as well as the respective appropriation committees.

There will also be two new committees dedicated to special issues. The Select Committee on Patient Protection and Affordable Care Act will focus on the implementation of the federal health care law. Gaetz and House Speaker Will Weatherford have tiptoed into implementing the law otherwise known as “Obamacare,” after initially opposing it. A new gambling panel will also be installed as Gaetz and Weatherford have both stated they want a deliberate, comprehensive look at Florida’s gaming industry. After the adoption of the new rules, senators will be under tighter ethical guidelines than in the past. Gaetz is calling for members to abstain from voting if there is a conflict of interest, as the House rules state. Until now, senators only had to disclose a conflict within 15 days of voting.

Florida Ranks Highest in October Foreclosure Rates
Florida’s foreclosure rate fell 13 percent last month in the year-over-year comparison, but still claimed the highest rate in the nation with one foreclosure filing – default notice, scheduled auction, or bank repossession – for every 312 housing units, according to a report released Thursday by RealtyTrac, a California-based company that tracks troubled properties. Florida’s rate is more than double the national rate of one in every 706 housing units, and the state is still struggling to recover from the housing crisis and foreclosure boom that clogged courts. The crisis was compounded by the “robo-signing” controversy, which led many large banks to impose a short moratorium on foreclosures in the fourth quarter of 2010.

Foreclosure proceedings have ramped back up, but the average foreclosure case still takes more than two years to complete. Two metro areas in Florida posted some of the highest month-to-month foreclosure rate increases. The Palm Bay-Melbourne-Titusville metro area, still reeling from the end of the Space Shuttle program in 2011, saw a 71-percent increase in foreclosure activity in October from September. The Sarasota metro area’s foreclosure rate jumped 53 percent from September.

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 ]

News from the Hill: Chambers return for post-election session, floor, committee schedules

Credit unions are obviously at a critical time in terms of their chances to enact Member Business Lending (MBL) legislation, and the League’s Governmental Affairs (GA) team, along with nearly 20 credit union advocates and small business owners are headed to Washington, D.C. this week to meet with lawmakers. Be on the lookout Tuesday for an MBL Action Alert coming from the League. It is the League’s hope that credit union advocates unable to attend the National “Hike the Hill” will do their part by contacting lawmakers while the League is visiting with them in Washington.

The “Lame Duck”
Based on conversations with leadership staff, the League understands that the target adjournment for the 112th Congress is now Dec. 21; however, that date could slip depending on the outcome of fiscal cliff negotiations.

As the end of the Congress approaches, it is critical to keep a few things in mind: most of the negotiations on critical end-of-year legislation is being done with a small number of representatives, senators, and administration officials; because of this, floor leaders will be looking for measures to consider on the floor to keep rank-and-file members occupied (and in Washington). The floor schedules below appear light, but they are expected to develop significantly over the week. And, as the “lame duck” session extends into December, frequent changes to announced schedules are expected.

This Week’s Floor Schedule
The Senate returned Monday at 2 p.m. to complete consideration of S. 3525, the Sportsmen’s Act of 2012. The agenda for the Senate for the remainder of the week has not been announced.

The House convenes Tuesday at 2 p.m. and will consider several bills under suspension of the rules. On Wednesday, the House will consider additional bills under suspension of the rules. Thursday and the balance of the week, the House will consider H.R. 6429, the STEM Jobs Act of 2012, legislation that amends the Immigration and Nationality Act to modify immigration and work visa law.

Committee Meetings
On Thursday morning, the Financial Institutions and Consumer Credit subcommittee and Insurance, Housing and Community Opportunity subcommittee will hold a joint hearing on "Examining the Impact of the Proposed Rules to Implement Basel III Capital Standards." In the afternoon, the Domestic Monetary Policy and Technology Subcommittee will have a hearing on "The Future of Money: Dollars and Sense."

Swearing-in Day for the 113th Congress
The schedule for the 113th Congress has not yet been released; however, it is expected that next year’s schedule, including the swearing-in day, will be released in the next two weeks. Generally, this information comes in late November or early December; for reference, the schedule for the first session of the 112th Congress was announced on Dec. 8, 2010. The Constitution provides that the new Congress will convene on Jan. 3 unless the previous Congress otherwise designates by law (which happens regularly). As the League gets more information, it will 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 ]

Compliance Corner
League InfoSight highlight: Customer Identification Program

Section 326 of the USA Patriot Act sets forth minimum standards for financial institutions, including credit unions, for the identification and verification of the identity of any customer/member opening an account (12 CFR §103.121).

The written customer/member identification program (CIP):

  • Must be a part of the credit union’s anti-money laundering program
  • Must be approved by the board
  • Should be tailored to the credit union’s size, location, and type of business

Members must be provided notice that the credit union is verifying their identity and why. The CIP must, at a minimum, provide for:

  • Obtainment of certain basic identifying data
  • Verification of the identity of each customer to the extent reasonable and practicable
  • Maintenance of records of the information used to verify the identity
  • Determination of whether the customer/member appears on any lists of suspected terrorists provided by the federal government

To find out more about Customer Identification Programs, 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 ]

Compliance calendar and training

December 2012

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
Save the date for ALM Trainings in 2013

Save the date for these upcoming Asset Liability Management Training in 2013:

  • March 26-27  -  Miami, FL
  • May 7-8          -   Birmingham, AL
  • Sept. 18-19   -   Tampa, FL

Deborah Rightmire

Leading all three training sessions is Texas Credit Union League (TCUL) VP, Asset/Liability Management Deborah L. Rightmire, who also oversees the operations of TCUL ALM Resources.

Debbie provides semi-annual ALM analysis and consulting services for credit unions across the U.S. representing more than 90 billion in combined assets. She speaks for CUNA and Leagues across the nation. Debbie conducts presentations emphasizing ratio analysis, policy formulation, economic trends, liquidity analysis, and investment due diligence.

For more information on upcoming training opportunities, visit the 2013 Education Events Calendar. [ Return to Top ]

Education Calendar

Upcoming Events:

Tuesday, Nov. 27
Debit Card Error Resolution & Regulation E Investigations
3 to 4:30 p.m. EST - Webinar

Wednesday, Nov. 28
Legal Update - Loans: 2012 in Review
3 to 4:30 p.m. EST - Webinar

Thursday, Nov. 29
Required Compliance Series: Robbery Preparedness for All Staff
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 ]

Cooperative Initiatives News
'Miracle Jeans Day' t-shirts now on SALE for just $10!


Now that the holiday season is in full-swing, support kids by getting your "Miracle Jeans Day" t-shirt which is now on sale for just $10! But hurry, because standard shipping ends on Monday, Nov. 26! Limited sizes are available, so place your order today! Click here to order your t-shirts now!

  [ Return to Top ]

LEVERAGE News
Upcoming CO-OP webinar on future of payments

CO-OP is hosting an important webinar on Person-to-Person (P2P) Payments and Digital Wallets technology on Wednesday, Dec. 5, at 11 a.m. PST / 2 p.m. EST. Credit unions are highly encouraged to attend, and stay at the forefront of this fast-developing technology. This informative webinar will explore:

  • Defining P2P and Digital Wallets
  • Learn about key industry developments
  • Get recommendations from our industry experts, Grace Manuele and Amanda Smith
  • Retaining members and acquiring new ones looking for enhanced convenience
  • Increasing member loyalty by becoming the financial hub for members
  • How to compete with other financial institutions that offer high-quality mobile & online experiences

Additionally, a white paper will be available to attendees after the webinar. To register for this CO-OP webinar, click here.

[ Return to Top ]

News from You
Former Campus CEO Louise Hinton passes away

Photo courtesy: Gainesville Sun

Campus FCU, based in Gainesville, lost one of its pioneers recently.  Louise Hinton worked for Campus for 35 years moving from accountant to CEO. She moved to Gainesville in 1953 and began working at the credit union in 1956. Her daughter told the Gainesville Sun that her mother had no formal training and a former Campus board member told the Sun that the credit union philosophy of "People helping People" was in Louise's DNA.

“Louise saw it as friends helping other friends. It was the mutual part of the credit union that appealed to her,” said Winton Williams. 

Louise stayed with the credit union as it moved through multiple locations and expansions. As CEO, she would cook meals for the staff during board meetings. Louise retired in 1990 and continued to stay engaged in the Gainesville community. Louise Hinton was 87 years old. [ Return to Top ]

EMPLOYMENT
View available credit union jobs

To view available jobs posted by credit unions on the LSCU website, visit the LSCU CU Jobs Center. Click the link at the top of the page to view jobs at the LSCU. [ Return to Top ]

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