LSCU eSignal Weekly
LSCU eNews Weekly June 10, 2013
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LSCU eNews Weekly
In This Issue
President's Point
First quarter numbers continue in record territory
LSCU Top Headlines
This week's top League headlines
Governmental Affairs News
This week in Alabama politics: races for First Congressional District and state Senate begin
This week in Florida politics: mortgage foreclosure bill and foreclosure settlement spending plan
Washington Update: Senate Finance Committee expected to hold private meeting to discuss final tax options paper
Alabama Telco implements “Don’t Tax My Credit Union” campaign
Compliance Corner
League InfoSight highlight: arrest and conviction reports for employment
Video: Meet OFR Commissioner Drew Breakspear
CUNA Regulatory Advocacy Report - week of June 10, 2013
Compliance calendar and training
AC&E News
New mobile app now available for AC&E attendees
Don't forget to register for the AC&E offsite guest tour of Kennedy Space Center
Register today for the GA Luncheon at the AC&E
Education News
Wondering what educational opportunities are coming up? Check them out below
Cooperative Initiatives News
CUNA Lending Council Scholarships Available
Save the date for Miracle Jeans Day 2013
LEVERAGE News
CIO magazine names CUNA Mutual Group a CIO 100 award winner
News from You
Blue Angels to lead Pen Air FCU Fiesta Day parade
Innovations Federal Credit Union receives Apple of our Eye award
EMPLOYMENT
View available credit union jobs
In This Issue
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President's Point

First quarter numbers continue in record territory

This is a big week for the LSCU & Affiliates with our Annual Convention and Exposition (AC&E) in Orlando. If you're in the area and not signed up, there is still time. Our theme is “Accelerate Your Performance.” The theme is appropriate since we are seeing much better numbers, as a whole, from our credit unions in Alabama and Florida.  

Asset growth in both states was right around the national average. In Florida it was a little higher at 3.9 percent, the best quarter for the state since the first quarter of 2012. The state actually jumped the $46 billion mark and now has over $47 billion in assets – a record high. In Alabama, asset growth was slightly lower at 3.2 percent, but still a record at more than $18.3 billion. Alabama credit unions have set a record for 10 straight quarters. This continues the trend we’ve been seeing that credit unions are getting a larger share of wallet from their members.

Alabama and Florida once again mirror the nation in membership growth. Alabama saw 15,000 new members – once again a new record high and the sixth time in the last eight quarters that membership grew five digits. Meanwhile, Florida added 33,000 new members. This marks the fifth time in eight quarters the membership growth has been more than 31,000. Consumers continue to look for more consumer-friendly financial institutions. It’s important that we continue to be aggressive in our marketing to attract new members. It’s clearly working.

I want to get down in the weeds on some of these numbers. Delinquencies and net charge offs continue to trend downward. In Florida, the delinquency rate has fallen from 3.16 percent in 2010, to 1.98 percent. This is higher than the national average, but not by much. A few years ago this didn’t seem possible. Plus, net charge offs are just about a half percent higher than the national average. There are parts of Florida seeing an improved economy. In Alabama, delinquencies are just a tad above the national average, while the net charge offs are right at the national average. The loan loss provisions also fell in both states, with Florida seeing a nearly 35-percent drop in this category. Alabama saw incremental improvement; both very good signs on the loan front.

One of the numbers we’ve been tracking closer too is the number of employees at credit unions. This is a good story to tell. Florida credit unions have added 500 new employees in the past two years, while Alabama credit unions are at about 200. Any bump in employment is a good thing and this shows our local credit unions are helping the workforce in their respective communities. Keep up the good work. In Florida, our employment numbers have caught the eye of the governor as his office has reached out to us to collaborate on future Call Report data releases.

This week we celebrate “Accelerate Your Performance” in Orlando. It’s nice to be talking about positive gains and how we can continue to grow. We’ll push these numbers out to the local press across both states, over the next few weeks.

Where's Patrick? This week I will be at the AC&E in Orlando. I hope to see many of you there. You can see my schedule for the next two weeks by clicking on Where's Patrick?
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LSCU Top Headlines
This week's top League headlines

FAIRWINDS Credit Union target of Distributed Denial of Service (DDOS) Attack
FAIRWINDS Credit Union was a victim of a Distributed Denial of Service (DDOS) Attack on June 5. Read more in the LSCU Top Stories.

Rep. Bachus agrees to co-sponsor CU supplemental capital bill
On the heels of a visit with LSCU's governmental affairs team, Rep. Spencer Bachus (R-AL) has agreed to co-sponsor HR 719, supplemental capital for credit unions.
Read more in the LSCU Top Stories.

NCUA Releases New “Navigating for You” Video
The NCUA has a new video featuring the services of the Office of Small Credit Union Initiatives. Read more in the LSCU Top Stories. [ Return to Top ]

Governmental Affairs News
This week in Alabama politics: races for First Congressional District and state Senate begin

First Congressional District candidates
There has been wide speculation on who will be entering the race to succeed Rep. Jo Bonner as the representative from the First Congressional District. As of early last week, four individuals announced they are running; Quin Hillyer a conservative columnist; State Rep. Randy Davis (R-Baldwin County); Dean Young a Orange Beach businessman; and Jessica James a real estate agent from Mobile. Since that time, former State Senator and Chancellor of Alabama's Post-Secondary Education Department Bradley Byrne held a press conference to announce his candidacy. Also, State Rep. Chad Fincher (R-Mobile) has all but officially announced as well.

State Senate races heat up
Alabama's State Senate elections do not occur until November of 2014, however some races are already shaping up. State Rep. Jim McClendon announced that he will run for Senate District 11, currently held by Sen. Jerry Fielding. The two will meet in the Republican primary and many believe this will be one of the most contested elections of the 2014 cycle. Senate District 11 is comprised of parts of Calhoun, Coosa, Elmore, and Talladega Counties.

Sen. Shadrack McGill, from District eigh,t who's wife recently went on Facebook denouncing women who were making passes at her husband, has a few people beginning to campaign against him. Rep. Todd Greeson (R-Ider) has officially announced that he will be running for the seat and John Blackwell, businessman and father of current Sen. Slade Blackwell, has been in the area campaigning. Senate District 8 is comprised of DeKalb, Jackson, and Madison Counties.

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.
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This week in Florida politics: mortgage foreclosure bill and foreclosure settlement spending plan

Mortgage foreclosure bill signed by the governor
Gov. Rick Scott signed 34 bills into law June 7. Among the most controversial bills Scott signed is HB 87, which speeds up the show cause hearing in foreclosure cases in an effort to clear Florida’s nearly 400,000-case backlog. A group of foreclosure attorneys has threatened to sue if Scott signed HB 87, claiming a provision in the bill preventing homeowners foreclosed upon unfairly from retrieving title to the property is unconstitutional.

Scott signs foreclosure settlement spending plan
Gov. Rick Scott signed SB 1852 June 3, laying out $200 million in spending from a foreclosure fraud settlement with the nation’s largest banks. Most of the money will go to affordable housing programs, housing for the homeless, legal aid for troubled homeowners affected by the burst of the housing bubble, and funding to help the courts address the foreclosure case backlog. For a breakdown of the remaining $200 million of the state’s direct payment, please 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.

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Washington Update: Senate Finance Committee expected to hold private meeting to discuss final tax options paper

Floor Schedule
The Senate is back in session on June 10 and expected to complete consideration of S. 954, the Farm Bill. Then, the Senate will resume consideration of the motion to proceed to S. 744, the comprehensive immigration reform bill.

The House comes back June 11. On June 12, the House will consider additional bills under suspension of the rules including two which have been reported out of the Financial Services Committee: H.R. 634, the Business Risk Mitigation and Price Stabilization Act of 2013, as amended and H.R. 2167, the Reverse Mortgage Stabilization Act of 2013. The House will also consider H.R. 1256, the Swap Jurisdiction Certainty Act. One June 13 and the balance of the week, the House will consider H.R. 1960, the National Defense Authorization Act for Fiscal Year 2014.

Committee schedule
To view a complete list of committee meetings being followed by governmental affairs this week click here.    

Also on Thursday, it is expected that the Senate Finance Committee will hold a private meeting to discuss the final tax options paper. This paper is expected to focus on exempt entities. It is likely that this paper will include references to the credit union tax status, and staff have advised LSCU that a member-level discussion of the credit union tax status is also possible. The League has been in touch with several member offices over the last few months in advance of this meeting. The governmental affairs team will keep you updated as information becomes available. In the meantime, continued grassroots action is critical.

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 ]

Alabama Telco implements “Don’t Tax My Credit Union” campaign

Alabama Telco is focused on getting the word out about why credit unions are tax exempt and more importantly why they should stay that way. Gathering information and inspiration from CUNA’s “Don’t Tax My Credit Union” advocacy toolkit, they have developed a strong action plan.

“We’re looking at the best way we can make an impact from all angles. Our first approach is informing our employees of the tax reform debate and then giving them the means to contact their Congressman. From that point on, we pass the message to our members directly via branch flyers, email, our newsletter, and our website. We really want our members to understand any tax on a credit union is a tax on them. If we’re taxed, their credit union benefits could be lost, and a consumer-friendly option in the financial marketplace is at risk,” states Alabama Telco’s Vice President of Marketing, Stanton Davis.

To learn more about the “Don’t Tax My Credit Union” campaign, visit www.DontTaxMyCreditUnion.org.

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Compliance Corner
League InfoSight highlight: arrest and conviction reports for employment
May a credit union rely upon a conviction of a crime of dishonesty to exclude an employee or applicant from employment?

This question is answered in the topic - Arrest and Conviction Reports for Employment - in the Employment channel.

This topic includes information about the Equal Employment Opportunity Commission’s Enforcement Guideline (Guideline) on the use of arrest and conviction records in employment decisions under Title VII of the Civil Rights Act (Title VII)—along with links to both the Guideline and Title VII. 

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 ]

Video: Meet OFR Commissioner Drew Breakspear

Florida Office of Financial Regulation (OFR) Commissioner Drew Breakspear has been on the job since November of 2012. He recently sat down with the LSCU to answer questions about how credit unions fit in the financial picture in Florida. You can see the video in the LSCU Video Room

In the video, Commissioner Breakspear talks about how well credit unions are serving Floridians. He was also candid when asked how credit unions can foster a better relationship with OFR. He said that he felt the relationship was good and that he viewed the relationship as a partnership since both had the same goal of providing Florida residents with the financials needs they desire. 

If you have any trouble viewing the video, contact LSCU VP, Communications Mike Bridges at ext. 1022.  [ Return to Top ]

CUNA Regulatory Advocacy Report - week of June 10, 2013

Each week CUNA provides credit unions a wealth of information through its Regulatory Advocacy Report. The report highlights for the week of June 10 include:

  • Examination and Supervision Subcommittee meets to discuss derivatives
  • NCUA chairman weighs in with FASB
  • CFPB issues exam procedures for new mortgage rules
  • New patent reform push builds, with CUNA involved

            To read the most recent CUNA Regulatory Advocacy Report, click here
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            Compliance calendar and training
            July 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
            New mobile app now available for AC&E attendees

            To enhance your AC&E experience, the League has developed a mobile app. It's easy to download right to your Apple or Android* smartphone or tablet.

            The app provides quick access to the AC&E schedule. Be sure to review the schedule ahead of time and add the sessions and events you would like to attend to the "My Schedule" feature in the app.

            There are many other features including a map of the hotel to help locate session rooms, a list of who is at the AC&E, a list of the speakers, and a way to contact the League in case you have a question.

            To download the app, view this email on your smartphone or tablet and click here.

            This app is an easy way to stay connected during the AC&E. It's linked to the League's Twitter (@LeagueofSECUS #LSCUACE) and Facebook (LeagueofSoutheasternCreditUnions) so you can follow the action via social media AND tweet and post from your own account. The League wants you to share your AC&E experiences by taking pictures and uploading them to the app's photo gallery, i.e. at the exhibit hall, in an education session, during the Kennedy Space Center tour...anywhere and everywhere!   [ Return to Top ]

            Don't forget to register for the AC&E offsite guest tour of Kennedy Space Center

            Join other AC&E guests for a tour of the Kennedy Space Center, NASA’s launch headquarters, on Thursday, June 13. Tour NASA’s launch and landing facilities, experience live shows and jaw-dropping encounters with massive rockets.

            After traveling to KSC from the JW Marriott, guests will have free time to explore the Visitor Complex, from live action theatrical shows to an educational Astronaut Encounter briefing.

            This is a separate ticket event at the AC&E. For more information and to register, visit the AC&E website and click on Credit Union Attendees. [ Return to Top ]

            Register today for the GA Luncheon at the AC&E

            There is still time to register for this year’s Governmental Affairs Luncheon at the 2013 Annual Convention & Exposition. The luncheon will be on Thursday, June 13 from noon to 1:30p.m. The luncheon is onsite at the JW Marriott in Mediterranean Rooms 6-7 and will feature Reid Wilson, editor-in-chief of the National Journal’s The Hotline.

            This is a separate ticketed event. Tickets are $55 and you can either pay at the door or online. To register and pay online, click here. If you want to register and pay at the door please contact LSCU VP of Governmental Affairs, Jared Ross at 866.231.0545 ext. 101. [ Return to Top ]

            Education News
            Wondering what educational opportunities are coming up? Check them out below

            Upcoming Events:

            June 12-15
            LSCU Annual Convention & Exposition
            , Orlando, FL

            July 17
            Bank Secrecy Act Training, Tuscaloosa, AL
            AM session

            PM session

            July 24
            Bank Secrecy Act Training, Ft. Lauderdale, FL
            AM session
            PM session

            August 4-7
            Supervisory Committee Conference, Destin, FL

            August 21-23
            SCUMA Annual Meeting, Destin, FL

            September 10
            Regulatory Compliance Update, Tallahassee, FL

            September 12
            Regulatory Compliance Update, Birmingham, AL

            September 18-19
            ALM Essentials & Implementation Training, Tampa, FL

            Visit the LSCU Events Calendar for more events.


            Upcoming Webinars in June:

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

            June 11: Supervisory Committee Duties & Responsibilities

            June 12: Nuts & Bolts of Effective Metro 2 Credit Reporting via e-OSCAR

            June 18: Regulator Issues & Update for the Credit Analyst

            June 19: Pricing Consumer Loans for Profitability

            June 21: Complying with the Final Rule for Garnishment Procedures Involving Federal Benefit Payments: Effective June 28, 2013

            June 25: GFE and HUD-1: Current Issues, Current Challenges

            June 26: Ability to Repay Part 1 – New Rules that Impact Your Policies & Products: Deadline January 10, 2014

            June 27: Advertising Compliance: Web, Print, TV and Radio 

            For a complete listing of webinars for 2013, click here.
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            Cooperative Initiatives News
            CUNA Lending Council Scholarships Available

            The CUNA Lending Council is offering scholarships for the following CUNA programs. Hurry, deadlines are quickly approaching!

             Learn more and apply today! [ Return to Top ]

            Save the date for Miracle Jeans Day 2013

            Join us again this year to Wear Jeans and Help Kids on September 18! Over the past several years, Miracle Jeans Day has raised more than $2.2 million dollars, because companies and people—like you—wore jeans to support the Children's Miracle Network Hospital serving their community. This year, there are some exciting changes to make Miracle Jeans Day even easier for you and your group to participate. Click here to learn more. [ Return to Top ]

            LEVERAGE News
            CIO magazine names CUNA Mutual Group a CIO 100 award winner

            IDG's CIO magazine has announced CUNA Mutual Group is among its 2013 CIO 100 award recipients. The annual awards program recognizes organizations worldwide that exemplify the highest level of operational and strategic excellence in information technology.

            This year’s honored project for CUNA Mutual Group was for its Retirement Radar mobile annuity planning application. Launched in November 2012, Retirement Radar leverages “gamification” techniques for tablet, mobile, and PC use. By integrating gamified design and mechanics, Radar creates a clear sales experience for customers and financial advisors. Easy-to-understand icons and visual imagery enable the advisor to illustrate a fun, personalized solution to an otherwise serious, sometimes frightening, and complex topic of retirement income.

            This year’s award recognition marks the sixth time CUNA Mutual Group has received the CIO 100 honor since 2004.

            If you would like to know more about CUNA Mutual Group's Retirement Radar mobile annuity planning application, contact a Business Development Consultant. [ Return to Top ]

            News from You
            Blue Angels to lead Pen Air FCU Fiesta Day parade

            Pen Air Federal Credit Union and Fiesta of Five Flags are joining forces to make the 64th Annual Fiesta of Five Flags Celebration doubly fun. The Pen Air Federal Credit Union Fiesta Day Parade will take place on Thursday, June 6 in downtown Pensacola at 6:30 p.m. Hundreds of people are expected to gather downtown to celebrate the heritage of this city. The Blue Angels will lead the parade as the Grand Marshal.

            “We are excited to celebrate the heritage of Pensacola again with Fiesta of Five Flags. I am happy to be able to call Pensacola my new home,” said Stewart Ramsey, president and CEO of Pen Air FCU.
            This is the fifth year Pen Air FCU has sponsored the parade.

            Fiesta of Five flags is a non-profit organization with a purpose to celebrate Pensacola heritage, promote tourism, and build pride in Pensacola through festive activities which enhance the quality of life in our community. [ Return to Top ]

            Innovations Federal Credit Union receives Apple of our Eye award

            Innovations Federal Credit Union was awarded the May Apple of our Eye by the Bay County Chamber of Commerce for the newly opened Back Beach branch location at 17900 Panama City Beach Parkway.

            Each month, ambassadors of the Bay County Chamber of Commerce vote to select a business that has a new construction or renovation to a building that helps make Bay County more visually appealing. For the month of May, Innovations Federal Credit Union was selected among six businesses by 28 ambassadors.

            “We are honored to receive this award, and we will continue to strive to provide the absolute best service possible to our wonderful community,” said David Southall, president and CEO of Innovations Federal Credit Union.

            Photo: (Left to right) Karen Hurst, senior vice president/CMO of Innovations FCU, and Jan Rains, ambassador of the Bay County Chamber of Commerce, with the Apple of our Eye award. [ 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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