LSCU eSignal Weekly
LSCU eNews Weekly March 4, 2013
home button press room button contact us button
LSCU eNews Weekly
In This Issue
President's Point
Time to turn attention on State GACs
LSCU Top Headlines
This week's top League headlines
CUNA GAC
CUNA GAC was full of issues, ideas, awards, & Hill visits
Governmental Affairs News
This week in Alabama politics: Emotions run high on legislative bill
This week in Florida politics: Legislative session begins this week
Washington Update: Committee meetings take stage this week
Alabama State GAC hotel group room rate cutoff date is this week: March 9
Florida State GAC in two weeks, plan to play in Tallahassee Chapter golf tournament
Compliance Corner
League InfoSight highlight: How long to keep BSA records
Regulators propose social media guidance
Compliance calendar and training
Communications News
Get recognized! Submit your entry for LSCU/CUNA Awards
Education News
LSCU webinars: cheaper by the dozen!
Cooperative Initiatives News
LSCU's SAS Workshops designed specifically for CUs under $50 million in assets in Birmingham
LEVERAGE News
LEVERAGE offers auto club program exclusive to CU members
CUNA Mutual Group contributes $135,000 to NCUF
News from You
Former USF CEO passes away
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

Time to turn attention on State GACs

This past week the credit union industry was focused squarely on national issues, converging on Washington, D.C. for the annual CUNA GAC. Alabama and Florida credit unions turned out in force with 130 credit unions officials traveling to our nation’s Capitol for the conference (see CUNA GAC below). It’s now time for our credit unions to focus on state issues as the Florida and Alabama State Governmental Affairs Conferences (GAC) are coming up in March and April respectively. These two state GACs are very important to push our proactive state legislative agendas forward.

The Florida State GAC is March 19-20 in Tallahassee. The lineup of speakers is the strongest we’ve had yet. Florida CFO Jeff Atwater will give us a look at the state from inside the Florida cabinet. Darrick McGhee, director of legislative affairs for the Executive Office of the Governor, will provide insight from inside the governor’s office. Marian Johnson, vice president of Political Strategy for the Florida Chamber of Commerce, will talk about the importance of PAC fundraising and grassroots advocacy. She is arguably Florida's most experienced political advisor.

The Alabama State GAC is April 9-10 in Montgomery. We are finalizing the agenda for this GAC, but you can count on the level of speakers to be just as impressive. Plus, CUNA will have a representative at each GAC to talk more about the federal issues of importance. Each GAC will equip credit unions with ideas on ways to get staff involved in action alerts and PAC fundraising.

This year the League has taken a more aggressive approach to public deposits legislation in Florida. We’re working with Bascom Communications to educate the public on the issue. In the past week, we’ve gotten stories in the Miami Herald and St. Petersburg Blog, along with an Op-Ed in the Tallahassee Democrat. Two weeks ago the public deposits issue was featured in Florida Trend as part of its legislative preview issue. The hope is that the more the public is educated about the issue, the more pressure will fall on legislators to do the right thing and pass the legislation. We will take a similar tactic in Alabama, however more education is needed on the issue with legislators. We have hired Kim Adams, a multi-client lobbyist, to assist our internal governmental affairs team in Montgomery.    

I can’t emphasize enough the importance of high credit union attendance in Tallahassee in two weeks and in Montgomery next month.  If these issues are not importance to our own credit unions, why should lawmakers care? We need you, or a representative from your credit union, to take two days to fight for our issues. Our state regulatory and legislative agenda will only move forward if we all work together.

Where’s Patrick?: This week I am working in the Birmingham office. I’ll be meeting with four credit unions in Birmingham and Auburn. I’m also meeting with the Tennessee Credit Union League’s new president in Chattanooga. You can see my schedule for the next two weeks by clicking on “Where’s Patrick?

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

LSCU Top Headlines
This week's top League headlines

Credit union sequester loans
Credit unions are urged to get in touch with the League if they are offering any loans to help members during the government's sequestration. JetStream FCU in Miami has already announced a zero-percent interest, 60-day loan opportunity for government employees. If your credit union is offering assistance, contact the League. Read more on the LSCU Top Stories

CU Times honors credit union officials as trailblazers
Three officials from Alabama and Florida credit unions were awarded Trailblazer Awards from the CU Times. Joe Brancucci of GTE Financial, based in Tampa, was named CEO of the Year, Kristen Mashburn of Listerhill CU, based in Muscle Shoals, was named Marketer of the Year, and Dona Svehla of Grow Financial FCU, based in Tampa, was named the Lending Officer of the Year. Each received their award at a reception at the CUNA GAC. Read more in the LSCU Top Stories. [ Return to Top ]

CUNA GAC
CUNA GAC was full of issues, ideas, awards, & Hill visits

Alabama and Florida credit unions sent more than 130 officials to the CUNA GAC last week. The CUNA GAC saw plenty of discussions on issues, a new long-term vision, awards, and productive Hill visits.

On Monday, CUNA President/CEO Bill Cheney laid out a long-term vision for the credit union movement. Cheney asked credit unions to Unite for Good. He said one collective message from credit unions on what they do to help their members and consumers can go a long way in shaping the media and lawmakers. He said one story from credit unions is great, but when 7,000 have the same message it is very powerful. More information about Unite for Good will be rolled out over the next few months.

The biggest headlines of the CUNA GAC came when Rep. Spencer Bachus (R-AL) told the crowd that interchange fees would once again be looked at by Congress. A number of representatives echoed those sentiments. No timetable was given on when it would be addressed. Among the other speakers were former NBC News anchor Tom Brokaw, financial expert Jean Chatzky, and Speaker of the House John Boehner.

Alabama and Florida credit union attendees made 38 lawmaker visits over three days. On Wednesday, they made 35 visits in seven hours. Many of the visits were standing room only. This made for great dialogue on issues such as MBL, supplemental capital, and the credit union tax exemption. Some members of the LSCU federal delegation showed interest in co-sponsoring MBL legislation. On Tuesday, Rep. Debbie Wasserman Schultz (D-FL) addressed both states because of her standing in the Democratic Party. She said small businesses needed access to capital and that she was in favor of the tax exemption.

A number of awards were handed out during the week. Reps. Jo Bonner (R-AL) and Bill Posey (R-FL) were honored as the LSCU Federal Lawmakers of the Year. Rep. Posey attended an LSCU reception where he received the award. He has co-sponsored almost every piece of credit union legislation over the past two years. Rep. Bonner was under the weather and could not attend.

Art and Mary Wood, Florida CEOs from the Tampa Chapter, were presented with the Buck Levins award from CUNA. The award goes to those that raise the standing of credit unions in the political arena. It's the first time a couple has been chosen. The award was handed out an LSCU reception.The LSCU was given a framed photo to commemorate the "leave behind" project at All Children's Hospital in St. Petersburg. It was build in conjunction with the 2012 Republican National Convention.

For the second year in a row Alabama Credit Union, based in Tuscaloosa, won a Dora Maxwell award for its Secret Meals for Kids program. The credit union started the program with just 50 kids and its grown to more than 1,100. The idea is to collect food and put it in a backpack so the kids have meals on the weekends. The program is not only supported by the credit union, its staff and members, but the community as well.

To see the Alabama and Florida delegation at the CUNA GAC, watch the daily video series - LSCU from the CUNA GAC. You can also see more pictures by visiting the LSCU Facebook page.

Rep. Bill Posey and LSCU President/CEO Patrick La Pine with the LSCU Federal Lawmaker of the Year Award.

LSCU President/CEO Patrick La Pine introduces Reps. Debbie Wasserman Schultz and Spencer Bachus to the CUNA GAC attendees.

Rep. Debbie Wasserman Schultz speaks with Alabama and Florida credit unions.

 

Art and Mary Wood with the Buck Levins Award.

[ Return to Top ]

Governmental Affairs News
This week in Alabama politics: Emotions run high on legislative bill

The Alabama Legislature began last week slowly and few insiders, if any, would have guessed it would have ended the way it did. The House continued to work on non-controversial issues passing legislation that updates the Health Care Certificate of Need Law, a bill to increase the Highway Finance Authority’s ability to borrow money and legislation making it a crime not to report a missing child or the death of a child. The Senate started the week passing legislation to attract airplane manufacturers to Alabama, legislation that overhauls the certain committees that oversee legislative administration and the same legislation the House passed regarding the Highway Finance Authority.

What happened in the Senate Thursday evening was anything but non-controversial. The Senate completed its work on the Local School Board Flexibility Act which had been opposed vigorously by the Alabama Education Association. Changes were made in the Senate and sent to the House for concurrence. The House did not concur and the legislation was sent to a conference committee in order to work out the differences. In conference committee, the bill grew in size from eight pages to 27 and included a tax credit for families zoned for “failing schools.” No one knew of the plan to add this language, especially the special interests that supported the bill from the start. Once the bill was reported out, original supporters such as the State School Superintendent and the Associations of Superintendents and School Boards withdrew their support and joined the AEA in opposition to the legislation. There were several shouting matches on the Senate floor and security was brought in to maintain order. The bill, as reported out of conference, was eventually passed by the House and Senate and is expected to be signed by the governor this week.

The Legislature returns Tuesday and emotions from Thursday are likely to boil over into this week and probably the remainder of the legislative session. Insiders are predicting a significant slow-down in both houses.

Session Podcast

The LSCU has an audio podcast available that looks at this year's Alabama Legislative Session. LSCU Director, Governmental Affairs Jason Cochran talks with LSCU, VP, Communications Mike Bridges about the session, what to expect, credit union legislation, and the importance of the Alabama State GAC. Cochran says that two pieces of proactive legislation for credit unions is expected this session. Listen to the entire podcast by visiting the LSCU Audio Room. 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: Legislative session begins this week

2013 Legislative Session Kicks Off this Week
The 2013 legislative session convenes Tuesday. This is the 115th regular session since Florida achieved statehood on March 3, 1845. Although lawmakers have been reporting to Tallahassee for committee weeks since November, the 60-day legislative session officially begins Tuesday with the House going into session at 9:30 a.m., the Senate at 10 a.m. and then both chambers combine for a joint session at 11 a.m. From health care and insurance to teacher raises and election reform, this session could be a political do-over for a Florida legislature looking to rewrite some of its controversial recent history.

Public Deposits Legislation Continues to Build Momentum
The LSCU Governmental Affairs staff is pushing hard for legislation that will allow credit unions to become qualified public depositories. Staff has been meeting and working closely with leadership over the past few months, and the League launched an aggressive media campaign on the issue. An Op-Ed by LSCU President/CEO Patrick La Pine published in the Tallahassee Democrat on Monday. A public deposits story ran in the Miami Herald, Florida Trend and St. Petersburg blog. HB 251, by Rep. Bill Hager (R-Boca Raton), could be placed on the agenda in the House Insurance & Banking subcommittee next week. With session beginning Tuesday, there is no time to waste in contacting your legislators, particularly those who sit on the subcommittee. Senate Banking Chairman David Simmons (R- Altamonte Springs) has been very supportive of the issue and has assured the League that the bill will receive a hearing in the Senate. The bankers are fiercely opposed to this legislation and are working tirelessly to defeat it. They have a strong grassroots campaign and are hosting their annual lobby day next week in Tallahassee, with over 100 members expected to attend. We expect that this will be another very tight vote and we need your help and support to move this bill to the next committee.

If you have any questions on any of the legislative issues mentioned above contact LSCU Director, Legislative Affairs, Jennifer Martin, 866.231.0545 ext. 1150. Get in on the conversation and get developing news and legislation updates from GA on Twitter and Facebook.  [ Return to Top ]

Washington Update: Committee meetings take stage this week

The House and the Senate are back in Washington this week. The Senate returns Monday and will consider pending nominations. On Tuesday, the Senate is expected to consider S. Res. 64, the funding resolution for Senate committees. The House also returns Monday and will consider bills under suspension of the rules. On Wednesday and the balance of the week, the House will consider the Department of Defense, Military Construction and Veterans Affairs, and Full-Year Continuing Appropriations Act. No votes are expected in the House on Friday.

Committee Schedule for Tuesday, March 5

  • The House Judiciary Committee Subcommittee on Regulatory Reform, Commercial and Antitrust Law  hears H.R. 367, the "REINS (Regulations From the Executive in Need of Scrutiny) Act
  • The House Oversight Committee holds a full committee hearing on "Reducing Waste and Mismanagement: Implementing Agency Watchdogs' Recommendations Could Save Taxpayers Billions"
  • The House Financial Services Committee Subcommittee on Monetary Policy and Trade holds a hearing entitled, “Near-Zero Rate, Near-Zero Effect? Is ‘Unconventional’ Monetary Policy Really Working?”  
  • The House Appropriations Committee Financial Services and General Government Subcommittee hears "Oversight Hearing - Department of Treasury” 
Wednesday, March 6
  • The House Financial Services Committee Subcommittee on Capital Markets and Government Sponsored Enterprises hears “Fannie Mae and Freddie Mac: How Government Housing Policy Failed Homeowners and Taxpayers and Led to the Financial Crisis”
  • The House Appropriations Committee Financial Services and General Government Subcommittee hears "Small Business Administration Oversight."

Thursday, March 7

  • The Senate Banking Committee holds a full committee hearing entitled, “Patterns of Abuse:  Assessing Bank Secrecy Act Compliance and Enforcement.”  
  • The Senate Commerce, Science and Transportation Committee and Senate Homeland Security and Governmental Affairs Committee joint hearing on "The Cybersecurity Partnership Between the Private Sector and Our Government: Protecting our National and Economic Security" 

Contact LSCU VP, Governmental Affairs Jared Ross at 866.231.0545 ext. 1012 with any questions. [ Return to Top ]

Alabama State GAC hotel group room rate cutoff date is this week: March 9

March 9 is the hotel room rate cutoff this week for the Alabama State Governmental Affairs Conference, Montgomery, AL, April 9-10, 2013.

Make your hotel reservations now as the cutoff date is approaching quickly! Rooms are available at the Embassy Suites Hotel.

Location & Hotel Accommodations:
Embassy Suites Montgomery Hotel & Conference Center
300 Tallapoosa Street
Montgomery, Alabama 36104
800.362.2779

Group Room Rate: $129
Group Code: SCU
Cutoff Date:
March 9, 2013

Registration Fee: $99/person

Visit the LSCU Events Calendar for more information or click here.
[ Return to Top ]

Florida State GAC in two weeks, plan to play in Tallahassee Chapter golf tournament

The 2013 LSCU Florida State Governmental Affairs Conference (GAC), in Tallahassee on March 19-20, offers credit unions an opportunity to go deeper into the issues facing credit unions while also building relationships with state lawmakers.

Location:
Governor’s Club
202 South Adams St.
Tallahassee, FL 32301

Registration Fee: $99/person

For more information and to register visit the LSCU Events Calendar or click here.

The Tallahassee Chapter of Credit Unions will be holding it's annual golf tournament March 18. Plan to come early to play in the tournament and then attend the Florida GAC. To find out more about the tournament and register, click here. Questions? Contact Allison Tremper at FSU CU. [ Return to Top ]

Compliance Corner
League InfoSight highlight: How long to keep BSA records

The Bank Secrecy Act (BSA) regulations require credit unions to maintain numerous records. The general retention period under the BSA is five years. Credit unions must keep copies of Suspicious Activity Reports, along with supporting documentation and Currency Transaction Reports. The Recordkeeping page of the Bank Secrecy Act channel of  League InfoSight lists other records that must be kept, including the following:

  • Extensions of credit in excess of $10,000
  • Currency transaction in excess of $10,000 to or from any person, account, or place outside the US
  • Cash sales of monetary instruments (e.g., money orders, traveler’s checks, cashier’s checks) between $3,000 and $10,000

Visit the Recordkeeping page to review which records your credit union must retain.

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 ]

Regulators propose social media guidance
The Federal Financial Institutions Examination Council (FFIEC) released a proposal providing guidance on the applicability of consumer protection and compliance laws, regulations, and policies to activities conducted via social media by credit unions and other financial institutions.

The FFIEC is responding to requests for social media guidance from various industry and consumer groups. The guidance is intended to help credit unions and others understand potential consumer compliance, legal, reputation, and operational risks associated with the use of social media, along with expectations for managing those risks.

The FFIEC invites comments on any aspect of the proposed guidance. It is specifically seeking comments on the following questions:
  1. Are there other types of social media, or ways in which credit unions are using social media, that are not included in the proposed guidance but that should be included?
  2. Are there other consumer protection laws, regulations, policies or concerns that may be implicated by credit unions’ use of social media that are not discussed in the proposed guidance but that should be discussed?
  3. Are there any technological or other impediments to credit unions’ compliance with applicable laws, regulations, and policies when using social media of which the various agencies should be aware?

Comments are due to the FFIEC by March 25, 2013. Credit unions are asked to submit comments to LSCU by Wednesday, March 20. Questions or comments can be sent to LSCU Regulatory Compliance Director Scott Morris at 866.231.0545 ext. 2165. [ Return to Top ]

Compliance calendar and training

March 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 ]

Communications News
Get recognized! Submit your entry for LSCU/CUNA Awards
  • Do you know a CU professional or volunteer that has made an outstanding contribution to the CU movement?
  • Has your CU shown excellence in day-to-day operations, community outreach, and financial prowess during 2012?
  • Does your CU demonstrate the credit union "People-Helping-People" philosophy in the community or practice internal programs to improve members' lives?

If you answered yes to one of more of the questions, submit an entry today.

Entries/nominations for the following prestigious LSCU Awards are now being accepted:

  • CEO of the Year
  • Volunteer of the Year
  • Young Professional of the Year
  • Distinguished Service Award
  • CU of the Year Award
  • Brother’s Keeper Award

For more details about each award listed above, click to view the LSCU Awards brochure.

Entries for the CUNA Awards programs are now also being accepted:

  • Dora Maxwell Social Responsibility Community Service Award
  • Louise Herring Philosophy-in-Action Member Service Award
  • Desjardins Youth and Adult Financial Education Award

Information and submission forms for these three awards may also be found on the LSCU CU Awards Program web page.

Visit the LSCU CU Awards Program web page for more information and entry/nomination forms on all listed awards. Questions? Contact LSCU Director, Communications Amy Jowers at 866.231.0545 ext. 1020.
[ Return to Top ]

Education News
LSCU webinars: cheaper by the dozen!

When your credit union registers for an LSCU webinar (provided by the Credit Union Webinar Network), a “virtual punch card” will be maintained for you. Each time your credit union registers, you get one punch. After attending 12 webinars in a calendar year (including archived programs), your credit union will automatically receive a complimentary certificate for a free webinar!

This loyalty reward will stretch your credit union’s training budget and provide quality webinars for every member of your staff.

Get started on your 2013 dozen today! To see available webinars, click here.
[ Return to Top ]

Cooperative Initiatives News
LSCU's SAS Workshops designed specifically for CUs under $50 million in assets in Birmingham

Register today for the 2013 Small Credit Union Workshops on March 26 in Birmingham. There will be an exciting line-up of speakers and topics that deal with the most pressing issues our member credit unions face every day. For more information on the workshop agenda and to register online click below.

Birmingham Small Asset Size Workshop – March 26

Registration is only $89 and SAS credit unions can use their SAS Initiatives Account to cover the registration fee.

Contact LSCU Director, Member Relations Adena Whitman at 866.231.0545 ext. 2134. [ Return to Top ]

LEVERAGE News
LEVERAGE offers auto club program exclusive to CU members

LEVERAGE recently announced the Credit Union Auto Club, the newest Invest in America program.  The program provides service and value on a wide range of roadside assistance services and other benefits at a significant savings compared to competing auto club plans.

Travel-related services include:

  • Emergency Roadside Assistance
  • Emergency Ambulance Expense
  • Emergency Tow and/or Extrication
  • Emergency Travel Expense
  • Emergency Lockout
  • Traffic Court Defense
  • Fuel Delivery Service
  • Legal Fees Related to Traffic Accident
  • Flat Tire Repair Reimbursement
Credit unions enrolled in this program are eligible to earn a marketing reimbursement of at least $5 per purchased membership when they actively market the Credit Union Auto Club to their members. They also have access to turnkey marketing materials and the advantage of a value-added offering when closing auto loans.

To learn more about Credit Union Auto Club and enroll your credit union in this program, email a LEVERAGE Business Development Consultant.
[ Return to Top ]

CUNA Mutual Group contributes $135,000 to NCUF

CUNA Mutual Group recently presented a $135,000 check to the National Credit Union Foundation (NCUF) to support the organization’s general fund and for Credit Union Development Education (CUDE).

The check was presented prior to NCUF’s 2013 Herb Wegner Memorial Awards Dinner, Feb. 25, at the Credit Union National Association’s Governmental Affairs Conference.

“The NCUF’s renewed focus on consumer financial education, training of Credit Union Development Educators, and its outreach to the young and elderly to help prepare them for their future or retirement aligns closely with CUNA Mutual Group’s mission,” said Jeff Post, president and CEO of CUNA Mutual Group. “We are pleased to support an organization that devotes so much energy to develop and strengthen the credit union movement.” [ Return to Top ]

News from You
Former USF CEO passes away

Dr. Tom Ness, longtime CEO of USF FCU in Tampa, passed away Feb. 9 in Grapevine, TX. Tom moved to the Tampa area in 1971 where he was a professor of marketing for the University of South Florida. In 1987, he became the chair of the USF FCU board. He served on the board for 12 years before becoming the CEO in 1999. Tom served as the CEO until he retired in 2010.

Tom was a dedicated credit union advocate that valued his employees. The Dr. Thomas E. Ness Memorial Scholarship in the College of Business has been established to benefit business students at USF. The fund number is 200007003 and contributions in his memory may be sent to the USF Foundation, 4202 Fowler Ave., ALC100, Tampa, FL 33620 and online at www.giving.usf.edu. [ 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 ]

footer
 
Twitter Facebook YouTube