LSCU eSignal Weekly
LSCU eNews Weekly January 14, 2013
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LSCU eNews Weekly
In This Issue
President's Point
Get involved this year with PAC fundraising
LSCU Top Headlines
This week's top League headlines
Governmental Affairs News
This week in Alabama politics: Gov. Bentley is polling well
This week in Florida politics: Committees return and get right to work
Bachus to speak at CUNA GAC; State GACs coming up
Compliance Corner
League InfoSight highlight: January NCUA report looks at area of emphasis
CUNA Regulatory Advocacy Report - Week of Jan. 14, 2013
Compliance calendar and training
Education News
Check out all events and webinars for January!
Cooperative Initiatives News
CDFI webinar on Jan. 18 to review application process
LEVERAGE News
Find an easy solution to selling repossessed vehicles
News from You
Secure First CU donates food and toys
Alabama CU wins National Championship bet
FOCUS CU opens new branch in Bainbridge
EMPLOYMENT
View available credit union jobs
In This Issue
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President's Point

Get involved this year with PAC fundraising

As we get back into the swing of things in 2013 and back to our routines, I want to talk about Political Action Committee (PAC) fundraising and why it’s important that you and your credit union get involved this year. Our state and federal PACs are necessary as we build relationships with our lawmakers. In the past two election cycles our contributions have gone to many credit union friendly candidates that have been elected on the state and federal level.

We have three PACS: the FEDPAC (Federal), ACULAC (Alabama State PAC), and CUPAC (Florida State PAC). In 2012, our PACs raised more than $448,000 through individual contributions, corporate contributions, and PAC fundraising from credit union staff. Our 2012 PACs saw a nearly 10-percent increase in contributions over 2011. This was very much needed since 2012 was a major election year on the federal side and in the state of Florida. Alabama did not have major state elections.

The money raised through the PACs is distributed out to candidates that are identified as those that understand credit union issues. We gave about $770,000 to candidates in Alabama and Florida. More than 90 percent of the candidates the PAC trustees endorsed won their seats. These are great building blocks for future relationships or to enhance the ones we already have.

The League has also worked to have contract lobbyists in place in Montgomery, Tallahassee and Washington, D.C. to help us stay in front of our lawmakers. John McKechnie has been on contract with the LSCU for about 14 months. He regularly meets with our federal delegation when our staff is not in Washington, D.C. Clark Smith and Mercer Fearington have been working with the League in Tallahassee on state issues for several years. Within the past month we’ve signed the Kimberly Adams law firm as a contract lobbyist in Montgomery. Kim and Johnny Adams will do the principle lobbying for the firm and they have more than 42 years combined governmental affairs experience. All three of our contract lobbyists provide experience to lean on and a presence with lawmakers when we can’t be there. Along with the expanded Governmental Affairs staff at the League, our presence at the Capitol buildings has never been greater. 

We have seen a large growth in our PAC fundraising over the past three years and we need more credit unions to consider taking part. Your credit union can sign staff up through payroll deduction or raise money through casual days and other fundraising activities. Chapters can participate by raising money through their golf outings. A great way to get started is to purchase a PAC lapel pin from Alabama or Florida Governmental Affairs staff. You can wear the pin at the CUNA GAC, State GACs, Hike the Hill, and chapter outings. It also shows our unity when we’re meeting with lawmakers and everyone has a lapel pin.

Take a few minutes after you read this to consider if your credit union can help with our PAC fundraising. Credit union CEOs will be receiving a CD with our PAC Fundraising Guide and other PAC related items this week from the League. Our industry is built on cooperation, and we need to move forward together. Contact LSCU Grassroots and Political Action Coordinators Blake Westbrook (AL) at 866.231.0545 ext. 2164 or Andy Gonzalez (FL) at ext. 1010 with questions.

Send me any feedback to this column. [ Return to Top ]

LSCU Top Headlines
This week's top League headlines

NCUA board raises "small entity" designation
During the first open NCUA meeting of 2013, the board voted to raise the "small entity" threshold from $10 million to $50 million in assets. This will help ease the regulatory burden for more than 4,600 credit unions. CUNA has pushed the NCUA to raise the threshold. Read more by visiting the LSCU Top Stories

CFPB final rules
The Consumer Financial Protection Bureau (CFPB) released final rules on the ability to repay provisions and the HOEPA/High Cost mortgages and mortgage escrows. The rules help address a couple of things CUNA has been talking to the CFPB about reconsidering. Read more by visiting the LSCU Top Stories.

CFPB director to join NCUA Town Hall webinar
CFPB Director Richard Cordray will join NCUA Chairman Debbie Matz on the NCUA's Feb. 5 Town Hall webinar. The webinar will feature a broad discussion of new developments in financial regulation, including CFPB’s recently finalized regulations, proposed rules, and enforcement efforts. Visit the NCUA's website to register for the free webinar. 

  [ Return to Top ]

Governmental Affairs News
This week in Alabama politics: Gov. Bentley is polling well

Butler Named to House Financial Services Committee
Newly elected Rep. Mack Butler (R-Rainbow City) has been appointed to serve as the newest member of the Alabama House Financial Services Committee.  Butler won the District 30 seat in 2012, replacing longtime legislator Blaine Galliher. The LSCU has met with Butler several times while campaigning and after his election. The League feels that he will be a supporter of credit unions in Montgomery.

Bentley Polling Numbers are Rising
The campaign season for all of Alabama’s statewide offices and the 140 Legislative Seats begins in a few short months. All signs are pointing to re-election for Gov. Robert Bentley. At the beginning of his first term as governor, many in Montgomery felt that Gov. Bentley would see serious opposition in 2014 and it could be difficult for him to win a second term. However, with the governor polling well, currently at a 63-percent approval rating, and the magnificent job he has done during the state’s recent natural disasters, he looks like a lock to win another four years in Montgomery.

LSCU FedPAC Quail Hunt
The LSCU will be hosting 42 attendees at its First Annual Credit Union Quail Hunt at the Doublehead Resort in Town Creek, AL.  Participants will have the option of hunting in three separate half-day hunts Friday and Saturday, as well as participating in the Trap Shooting Contest Saturday afternoon. All proceeds will go toward the LSCU FEDPAC. Special thanks to LEVERAGE, CUNA Mutual, Listerhill Credit Union, New York Life, Vining Sparks, Barfield Murphy Shank & Smith, Print Resources, Jefferson Credit Union, and Alabama Teachers Credit Union for sponsoring the hunt. Visit the LSCU Events Calendar for more information or contact Blake Westbrook at 866.231.0545 ext. 2164.   

Follow the GA team legislative updates on Twitter and Facebook.

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

This week in Florida politics: Committees return and get right to work

Committee Week
Lawmakers get down to work this week with their second round of committee meetings leading up to the 2013 legislative session, which beings on March 5. The legislature takes on election reform at 10 a.m. Monday in room 412 of the Knott Building. Members of the Senate Ethics and Elections Committee are scheduled to hear from 10 supervisors of elections, some from counties that saw long lines and other difficulties at the polls in November. The House Ethics & Elections Subcommittee will hear the presentations starting at 8 a.m. Tuesday in room 212 Knott.

Lawmakers to Disburse Part of Foreclosure Settlement Funds this Week
A legislative budget panel will meet this week to parcel out $60 million to aid troubled homeowners as part of an agreement between Attorney General Pam Bondi and legislative leaders over how to spend a portion of the foreclosure fraud settlement with five large banks. The agenda for next week’s meeting of the Joint Legislative Budget Commission was released Thursday, providing the first breakdown of how the $60 million will be spent. Most of the money, $45 million, will go to the Florida Housing Finance Corp. to help with down payment assistance and housing counseling for eligible homeowners. Bondi’s office will receive $5 million in legal fees, another $5 million will go to the State Courts System to help pay for foreclosure cases, and the remaining $5 million will go to legal aid services throughout the state that counsel foreclosure defendants. To read more, click here.

For questions on any of the legislative issues mentioned above, contact LSCU VP, Governmental Affairs Jared Ross, 866.231.0545 ext.1012, or LSCU Director, Legislative Affairs - FL 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 ]

Bachus to speak at CUNA GAC; State GACs coming up

Credit unions have three major advocacy opportunities over the next few months. The CUNA GAC in Washington, D.C., Feb. 24-28, is one of the premier national conferences to attend. Credit union taxation will be a hot topic this year for the bankers. A large contingent of credit union folks attending will help send a message to the lawmakers that the credit union operating structure is an important choice for members.

Rep. Spencer Bachus (R-AL) was just added as a speaker. Even though he was recently term limited out as chairman of the House Financial Services Committee, he remains on the committee and a key legislator for the LSCU.

Listen to an audio podcast from the LSCU and VP, Governmental Affairs Jared Ross talking about why it's important for credit unions to attend the CUNA GAC. Visit the LSCU Audio Room to access the podcast. For more information on registering for the CUNA GAC or to reserve your hotel room, visit the LSCU CUNA GAC Resources page.

The LSCU State GACS are coming up March 19-20 in Tallahassee and April 9-10 in Montgomery. The agendas for both conferences are being formulated right now. The state GACs are a great opportunity for credit unions to develop and maintain relationships with state legislators. These events are the perfect place to engage with  lawmakers and regulators as well as get a better understanding of what credit unions are facing in the political and regulatory arena. The state GACs aren't just for CEOs, other credit union staff are welcome to attend and get their feet wet with advocacy. 

Save the date for each state GAC. If you have any questions, contact LSCU VP, Governmental Affairs Jared Ross at 866.231.0545 ext. 1012.  [ Return to Top ]

Compliance Corner
League InfoSight highlight: January NCUA report looks at area of emphasis

The latest edition of League InfoSight has a number of stories including what credit unions can expect will be points of emphasis from examiners in 2013. The January edition of the NCUA Report lists a number of those issues including risk management with technology social media, operational risk with sound internal controls and appropriately managing earnings and capital without adding undue levels of interest rate, liquidity, and credit risk.

The NCUA Report is a monthly publication from the NCUA that offers a number of regulatory stories for credit unions, a message from the chairman and stories from the NCUA board members. It's a great resource to read monthly to gain a greater understanding of the NCUA and the issues it's tackling. 

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 Jan. 14, 2013

Each week CUNA provides credit unions a wealth of information through its Advocacy Report. The report for the week of Jan. 14 looks at three final rules by the Consumer Financial Protection Bureau including Mortgage Rule and Associated Proposal, Escrow Accounts and HOEPA/High Cost Mortgage. CUNA has also included a chart that shows all of the current rules being considered by the CFPB.

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

Compliance calendar and training

January 2013

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
Check out all events and webinars for January!

Upcoming Events:

January 16:
Regulatory Compliance Update, Mobile, AL

February 12:
LSCU Small Asset Size CU Conference
, Orlando, FL

February 20:
LSCU Bank Secrecy Act Training Workshop, (
morning session, afternoon session), Jacksonville, FL

February 24-28:
CUNA GAC
, Washington, D.C.

March 12-13:
IRA Essentials & Beyond Essentials Training
, Birmingham, AL

March 14-15:
LSCU/CUES CU Executive Dialogue (Large Asset Size CU), Miami, FL

March 19-20:
Florida State GAC
, Tallahassee, FL

March 26:
LSCU Small Asset Size CU Conference
, Birmingham, AL

March 26-27:
Asset Liability Management Essentials & Implementation Training, Miami, FL

Visit the LSCU Events Calendar for more events.


Upcoming Webinars in January:

All webinars are scheduled from 3 p.m. - 4:30 p.m. EST. 

January 16: New Security Officer Training: Issues, Reports & Best Practices

January 17: UCC 3 & 4 on Negotiable Instruments: Time Frames, Legal Concerns & Member Issues

January 23: Qualifying Borrowers Using Personal Tax Returns Part 1:Basics, Itemized Deductions, Interest & Dividend Income, Sole Proprietorships & Capital Gains

January 24: Director Series: IT Governance: What the Board & Supervisory Committee Need to Know to Manage the Credit Union’s Information Technology Assets

January 30: Countdown to the New CTR Report: Are You Ready for the March 31, 2013 Deadline?

January 31: Mandatory Compliance Series: Compliance Rules the Board & Senior Management Must Know

For a complete listing of webinars for 2013, click here. To download the LSCU's 2013 Education Calendar at-a-glance, click here.


[ Return to Top ]

Cooperative Initiatives News
CDFI webinar on Jan. 18 to review application process

The U.S. Treasury Community Development Financial Institution (CDFI) Fund is holding a webinar on Friday Jan. 18 to go over the 2013 application process. Credit unions that are eligible for CDFI funds are awarded grants to provide loans, services, investments, and technical assistance to low income members.  

The free, two-hour webinar will be conducted by the CDFI Fund staff who will review the FY 2013 CDFI Program application. There will be time for questions during the session.

Visit the CDFI Fund website for details and to register.  [ Return to Top ]

LEVERAGE News
Find an easy solution to selling repossessed vehicles

On Thursday March 7, in Mobile, LEVERAGE, GE, and Dealers Auto Auction will hold a one-day meeting to show credit unions a more simplified way to sell repossessed vehicles. The liquidation process for repossessed vehicles can be a challenge for any credit union. Who will manage the repossessed vehicles? Who will sell the vehicles? How do we find buyers?

Dealers Auto Auction is opening up its doors to credit unions on March 7 to give an up close and personal view of the auto auction process. LEVERAGE and GE will take credit unions through the program that will generate greater returns for the credit union. The day will include an actual live auction. 

Mark your calendars to attend and begin liquidating your inventory of repossessed vehicles or put a program in place so vehicles won't sit at your credit union for months. For more information, contact a LEVERAGE Business Development Consultant. [ Return to Top ]

News from You
Secure First CU donates food and toys

Secure First Credit Union, based in Birmingham, hosted a “toys and goodies” drive to benefit Children’s Hospital and Ronald McDonald House. The credit union received donations of funds, toys, and food from December 3 - 14.

“It was an honor to be able to give all the wonderful gifts to Children’s Hospital and The Ronald McDonald House, two great and caring organizations. I would estimate that Secure First members and employees donated thousands of dollars in cash and gifts," said Secure First Credit Union CEO Jordan Sullivan.


[ Return to Top ]

Alabama CU wins National Championship bet

Alabama Credit Union, based in Tuscaloosa, and Notre Dame FCU, based in South Bend, IN, engaged in a challenge to see which university’s credit union could generate the most credit card applications in advance of the BCS National Championship game,. Alabama CU beat Notre Dame FCU by a final score of 355 to 331. As a result, Alabama CU’s Secret Meals For Hungry Children℠ program will receive the $10,000 put up by the two credit unions as the reward for winning the competition.
 
“Our organization thoroughly enjoyed this friendly competition with Notre Dame FCU. When it was proposed to us by their CEO, our staff immediately became energized to win, not only to prove a point, but to help support Secret Meals For Hungry Children,” said Alabama CU President Steve Swofford. “The competition benefited both organizations by not only increasing their credit card portfolios, but also in encouraging staff to be more active in recommending money-saving products to our members. More than 65 hungry children can now be fed for a school year by our Secret Meals program, and members who received our credit cards now enjoy lower card rates and other benefits. Everybody won as a result!”

Alabama beat Notre Dame by a score of 42-14 on Jan. 7.  [ Return to Top ]

FOCUS CU opens new branch in Bainbridge

The Grand Opening and Ribbon Cutting Ceremony was held on Tuesday, Dec. 11, 2012 at 10 am at the newly renovated office located on 1400 Shotwell Street, Suite 140 in the Bainbridge Mall. FOCUS now has offices in Chattahoochee FL, Marianna FL, Quincy FL, and Bainbridge GA.

  [ 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 CU Jobs Center page to view jobs at the LSCU. [ Return to Top ]

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