LSCU eSignal Weekly
LSCU eNews Weekly April 29, 2013
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LSCU eNews Weekly
In This Issue
President's Point
Highlights from LSCU & Affiliates board meetings
LSCU Top Headlines
This week's top League headlines
Governmental Affairs News
This week in Alabama politics: current session enters final days and a Credit Union Act update
This week in Florida politics: budget finalized and latest on mortgage foreclosure bill
Washington Update: House and Senate home this week
Compliance Corner
League InfoSight highlight: fiduciary accounts
CUNA Regulatory Advocacy Report - week of April 29, 2013
Compliance calendar and training
AC&E News
Register by tomorrow, April 30, to receive early bird pricing for AC&E
AC&E education sessions line up puts YOU in position to accelerate
Education News
Donít forget to register for these May events!
Cooperative Initiatives News
Credit Union Philosophy in Action Workshop
Florida credit unions achieve CCUE status
LEVERAGE News
Five signs that your performance appraisal system is not working
LEVERAGE helps place new Seminole Schools CEO
News from You
Army Aviation Center Federal Credit Union board of directors member passes
Inaugural dance marathon
EMPLOYMENT
View available credit union jobs
In This Issue
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President's Point

Highlights from LSCU & Affiliates board meetings

The LSCU & Affiliates boards are scheduled to meet six times this year. After each meeting, I use this column to update you on the major items that were discussed during the meetings. Last week, I actually participated in five board meetings – Southeastern Credit Union Foundation (SECUF), LSCU, LEVERAGE, Credit Union Vendor Management (CUVM) and CUSC of Alabama. Additionally, before I arrived in Birmingham, I attended the Corporate America Annual Meeting & Conference in Sandestin on Monday and Tuesday. I was told by several attendees this was the first time the League president has been to the Corporate America meeting in quite some time. I wanted to be there to show my support for CACU President/CEO Pete Pritts and the work he and the board are doing to move the corporate forward. It was an enjoyable event and I was glad to catch up with many of our Alabama credit union leaders.  LEVERAGE attended as an exhibitor.   

The LSCU & Affiliates meetings were very good. I want to share with you some of the highlights. The LSCU and its affiliate companies are growing and expanding, which means that we need to constantly be looking at how we position the LSCU brand. The LSCU board of directors took a thoughtful look at the overall brand of the LSCU & Affiliates and how we present that brand both internally with our Alabama and Florida credit unions as well as externally with the industry as a whole. We agreed on a brand refresh in some areas so we will more properly display the “LSCU & Affiliates” as the parent brand. At the AC&E in Orlando, I will unveil the changes at the LSCU Annual Meeting.  It’s not a huge makeover by any means, but I think you will find it makes sense as we continue to evolve as an organization.

Also approved for 2013 was the election process for upcoming LSCU & Affiliates board positions. Alabama has a Class B seat, which is a credit union with between 2,000 and 15,000 members, and a Class C seat, which is a credit unions with between 15,000 and 40,000 members, up for election. Florida has two Class D seats, which are credit unions with more than 40,000 members, up for election. Credit unions should receive nomination information this week. The nomination process will last for two weeks and elections will take place in mid-May. The new board members will be seated at the AC&E in June.

As I hope many of you know, LEVERAGE has been closely monitoring Obamacare and its possible impact on credit unions. The LEVERAGE board approved the creation of an Innovation Committee made up of three board members with the ability to appoint additional credit union personnel. The group will review and recommend new products and services, as well as help test the products. One of the first tasks the Innovation group will consider is healthcare. We all know how much pressure the rising cost of healthcare as puts on our budget. LEVERAGE will continue to see where there are opportunities to ease this pressure for credit unions through collaboration with the implementation of the Affordable Care Act.

The (SECUF) board was presented with a detailed plan to make the Foundation become financially self-sufficient and sustainable. The catalyst to the plan is credit union participation in the Community Investment Fund (CIF). If credit unions invest in the CIF, they get a good return on the investment, but the SECUF also receives a piece of the return which helps to fund our scholarship programs for credit unions and charitable giving. It’s a win for the credit union and a win for the SECUF.

The board meetings last week reinforced that the LSCU & Affiliates is growing. We couldn’t do it without your affiliation, active engagement and  continued support of LEVERAGE products and services. If you ever have any question about the LSCU & Affiliates board meetings, always drop me a line so we can talk more.

Where's Patrick: My week will start in Tallahassee and end in Madison, WI. On Monday and Tuesday, I’ll be in the Tallahassee office. On Wednesday, I head to Madison for Credit Union Development Educators (CUDE) training through the National Credit Union Foundation. You can see my schedule for the next two weeks by clicking on Where's Patrick?

Visit the LSCU Video Room to see the first quarter President's Report video.
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LSCU Top Headlines
This week's top League headlines

CUNA warns of May 7 website attacks
CUNA on Friday warned credit unions to be aware of the possibility of widespread Distributed Denial of Service attacks on May 7. Read more in the LSCU Top Stories.

Two Alabama CUs, one Florida among nations best
SNL, a leading financial data analysis firm, has ranked the best performing credit unions in the country and two Alabama credit unions, as well as one from Florida, were ranked in the top 50. Alabama CU, based in Tuscaloosa, was recognized at number 21 for outstanding member and market deposit growth. APCO Employees CU, based in Birmingham, came in at number 47 because of high membership and market deposit growth, as well as extremely low delinquency rate. MIDFLORIDA CU, based in Lakeland, was number 23. See all 50 credit unions by visiting the SNL website

CFPB issues payday lending white paper
The Consumer Financial Protection Bureau issued a white paper on some of its findings on payday lending and other similar products. The white paper includes information from consumers who use payday lenders. The CFPB began gathering information on payday lending at a field hearing in Birmingham. Read more in the LSCU Top Stories. [ Return to Top ]

Governmental Affairs News
This week in Alabama politics: current session enters final days and a Credit Union Act update

Last week the House and Senate continued to move at a slow pace due to filibusters.  However, committees and public hearings are moving at a much faster pace as the current session enters its final days. Special order calendars take precedence as lawmakers rush to finalize work on bills in committee and before the House and Senate, in hopes of final passage and signing by the Governor while others are working hard to defeat legislation. For an overview of last week's legislative activity, click here

In other legislative news, SB 371,  the Alabama Credit Union Act, was approved and placed on the approved list of bills to be selected for a Senate Special Order Calendar on Tuesday. To read more on the status of the Credit Union Act, click here

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: budget finalized and latest on mortgage foreclosure bill

Several issues remain for the Legislature to resolve as it heads into its final week of session, with the budget a major priority. Budget talks between the House and the Senate wrapped up Sunday night, with lawmakers agreeing to a $74.4 billion budget that funds teacher and state worker raises and puts an extra $1 billion into education. To read more, click here.

Sen. Jack Latvala, R-Clearwater, sponsor of SB 1666 relating to mortgage foreclosures, is not concerned the bill did not make it onto the next Senate Appropriations Committee agenda, even though the panel is the bill’s last committee reference in the Senate. To read more, click here

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: House and Senate home this week

This week the House and Senate are back home for constituent work week. They will return to Washington next week. The LSCU GA Team will be traveling to Washington in three weeks to meet with members of both the Alabama and Florida delegations to discuss our legislative priorities.

For more information or questions on federal legislation, contact LSCU VP of Governmental Affairs Jared Ross at 866.231.0545 ext. 1012. [ Return to Top ]

Compliance Corner
League InfoSight highlight: fiduciary accounts

Persons under a legal disability may have the Probate Court appoint a fiduciary to handle financial affairs. A legal disability could arise in connection with a minor child or with an adult who has been deemed incompetent by the court to handle financial matters.

Terms used by the court for a fiduciary relationship include a guardian, a custodian, or a conservator. Any of these fiduciary relationships must be court appointed and the court will issue a certificate of appointment.

To help your credit union remain in compliance, the Fiduciary Accounts topic is in the Accounts channel. Review this topic for information about the following:

  • Documentation needed to open the account
  • Whose taxpayer identification number should be on the account
  • Ownership
  • Transaction authority
  • What happens upon death of the legally disabled person
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CUNA Regulatory Advocacy Report - week of April 29, 2013

Each week CUNA provides credit unions a wealth of information through its Regulatory Advocacy Report. The report highlights for the week of April 29 include:

  • CFPB, bank regulators address payday lending
  • CFPB seeks comments on a few issues regarding mortgage rules
  • FHFA requests comments on regulatory burden
  • CUNA supports changes to SBA’s 504 and 7(a) loan programs

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

Compliance calendar and training

April 2013

May 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 ]

AC&E News
Register by tomorrow, April 30, to receive early bird pricing for AC&E

The early bird gets the savings! Don’t miss your chance to save money by registering early for the 2013 AC&E. Register by Tuesday, April 30, and receive early bird pricing.

The LSCU delivers a top level conference, including a host of high profile and quality speakers from the credit union industry. With 29 relevant education sessions, 120+ exhibiting companies, and a host of select events and networking activities, you won’t want to miss this year’s AC&E.

Don’t delay…register before April 30 and save with early bird pricing!

Visit www.lscuconvention.com for a full listing of education topics, conference events, exhibiting companies, and to register today!

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AC&E education sessions line up puts YOU in position to accelerate

This year’s education sessions are designed to accelerate performance in all areas of a credit union. Each session provides valuable knowledge that every attendee can bring back to their credit union and hit the ground running. From the Director’s Institute to the new “three-for-one” sessions (three industry experts speak during one session), there’s something for everyone at every pace.

Below are just a few of the topics that will accelerate the stride of both your credit union and staff:

  • Economic Outlook, Craig Dismuke, Vining Sparks IBG
  • Millions of Dollars: How CUs Are Winning HUGE U.S. Treasury Grants, Jamie Chase, CU Strategic Planning
  • Trumpeting Your To-Do List: Communicating Critical Priorities in a Noisy CU World, Andy Janning, NO NET Solutions
  • Managing Risk in Cloud Computing, Brian Sommer, Vital Analysis
  • Future of Payments & Technology Trends, Brian Scott, TMG
  • CU Strategic Planning: What You Should be Discussing, Sean McDonald, Your Full Potential, LLC

Visit the schedule-at-a-glance on www.lscuconvention.com for a full listing of education topics, descriptions, and speakers and determine which sessions you plan to attend.

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Education News
Donít forget to register for these May events!

Asset Liability Management Essentials & Implementation Training
May 7-8, 2013 - Birmingham, AL


Location:
Alabama Telco CU
One Riverchase Parkway South
Hoover, AL 35244

Registration Fee: $199 day/person | $349 both days/person

Speaker: Deborah L. Rightmire, CCUE, VP, Asset/Liability Management, Texas Credit Union League

Disaster Recovery Conference

May 16 – Ft. Lauderdale, FL
Priority One CU of FL
3000 N. University Drive
Sunrise, Florida  33322

May 23 – Mobile, AL
Blue Flame CU
2828 Dauphin St.
Mobile, AL 36606

Registration Fee: $199/person

For more information and to register for these events, click on the links above or visit the LSCU Events Calendar onwww.lscu.coop. [ Return to Top ]

Cooperative Initiatives News
Credit Union Philosophy in Action Workshop

Modeled after the National Credit Union Foundation’s successful Credit Union Development Education (CUDE) program, the Credit Union Philosophy in Action Workshop on May 14-15 in Birmingham, provides participants with a historical perspective on credit unions and cooperatives while focusing on how to implement the seven cooperative principles of credit unions in their day-to-day work activities.

To view the description of the workshop and the many benefits it will provide attendees, click here.

Register today! [ Return to Top ]

Florida credit unions achieve CCUE status

A number of credit union personnel from around the country were designated as a Certified Credit Union Executive (CCUE) in April. The CCUE designation is one of the highest achieved through CUNA. It is designed for managers and those aspiring to credit union leadership, the program teaches advanced credit union management and operations techniques. CUNA has aligned the CCUE designation with CUNA Management School.

Among those that received the designation were six credit union staff from Florida.The newly designated staff include Tim Cook, new CEO at TMH FCU in Tallahassee and five staff from Suncoast Schools FCU in Tampa. The Suncoast staff includes: Troy Allen, JoAnn Allen, Jackie Gilbert, Dianne McDaniel, and Stephen Michael Whitener. [ Return to Top ]

LEVERAGE News
Five signs that your performance appraisal system is not working

Most credit unions use some form of employee performance evaluation in their workplace. They are important pieces of documentation and integral to many staffing decisions. However, performance appraisal tools and processes are often poorly designed or implemented. Here are five signs that an evaluation program is not working:

  1. Appraisals are not completed on time.
    Failing to complete evaluations on time may mean they aren’t considered important or the process is too complicated and/or time consuming.

  2. All employees are evaluated on the same factors or competencies.
    Should a teller and a CFO really be appraised on the same criteria?

  3. The differences between poor, average, and outstanding performance aren’t defined.
    Shouldn’t an employee and his appraiser be able to objectively determine what constitutes great vs. mediocre performance?

  4. Employees have no input.
    How can an employee be expected to “buy into” the appraisal system if he or she has no input? Using self appraisals can be especially useful to promote communication.

  5. Everybody is above average.
    Appraisal “inflation” is a common problem. If everybody is above average then some employees may wonder why they should work hard and try to distinguish themselves. Or why should a mediocre performer try to improve?

If you recognize any of these signs, it may be time to consider a new and proven automated online solution such as Performance Pro by HRN Performance Solutions. Performance Pro was originally developed specifically for credit union application and is in use today by nearly 500 credit unions. For more information, contact a LEVERAGE Business Development Consultant. [ Return to Top ]

LEVERAGE helps place new Seminole Schools CEO

Seminole Schools FCU, based in Sanford, FL, has hired Dan Kelley as the new president/CEO. Kelley has more than 10 years of experience in financial management. He spent the last eight years at FAIRWINDS Credit Union and most recently worked as a regional vice president – Branch Services. Kelley oversaw the sales, service, and operations of 10 FAIRWINDS locations throughout Central Florida.

“I am honered to serve as the president/CEO of an organization that has been rooted in Seminole County since 1936. SSFCU will continue to build upon its founding principals of people helping people through providing products and services that ultimately benefit our members and community, not just the credit union,” said Kelley. 

This was the first placement from LEVERAGE HR Services. LEVERAGE worked with the Seminole Schools board to find the best possible candidate in a timely manner. To learn how LEVERAGE HR Services can help your credit union with a CEO or executive search, contact a Business Development Consultant.  [ Return to Top ]

News from You
Army Aviation Center Federal Credit Union board of directors member passes


Army Aviation Center Federal Credit Union board of directors member Roger Turnquist, has passed away. Mr. Turnquist was 99 years old and still an active board member at the time of his passing. He had a long career of service spanning over 35 years with AACFCU and his community.
He will be greatly missed by the board of directors, management, and staff of AACFCU. Mr. Turnquist is survived by his wife, Wilma, and son, Phillip.

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Inaugural dance marathon

 

On April 19, Legacy Community Federal Credit Union and APCO Credit Union sponsored the University of Alabama at Birmingham's first Dance Marathon. The event benefited Children's Miracle Network Hospitals and Miracle Families.
Three miracle families were present to meet and interact with the many college students who came out to the event. The miracle families told their stories of how Children’s Hospital of Alabama impacted their lives and how this dance marathon would further help them and families like them.

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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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