LSCU eSignal Weekly
LSCU eNews Weekly July 8, 2013
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LSCU eNews Weekly
In This Issue
President's Point
LSCU & Affiliates refreshes its brand
LSCU Top Headlines
This week's top League headlines
Governmental Affairs News
This week in Alabama politics: fundraising numbers released
This week in Florida politics: fundraising for Scott's re-election campaign in full swing
Washington Update: view this week's floor schedule and committee meetings
Compliance Corner
League InfoSight highlight: advertising consumer leases - trigger terms
CUNA Regulatory Advocacy Report - week of July 8, 2013
Compliance calendar and training
Education
Wondering what educational opportunities are coming up? Check them out below
The Supervisory Committee Conference hotel cutoff date extended
Cooperative Initiatives News
International Credit Union Day tools & merchandise are now available
News from You
Recent promotions at Florida credit unions
EMPLOYMENT
View available credit union jobs
In This Issue
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President's Point

LSCU & Affiliates refreshes its brand

I hope everyone had a safe and festive July 4th. At our LSCU Annual Convention & Exposition (AC&E) last month, I briefly touched on a brand refresh we've been working on. As the LSCU and its affiliate organizations grow, it's important that we revisit our brand architecture from time to time. Over the past six months you may have noticed that I've been referring more and more to the League as "LSCU & Affiliates". The League of Southeastern Credit Unions (LSCU) is our parent organization. Our current affiliate organizations consist of: the LSCU Service Corporation (LEVERAGE), the Southeastern Credit Union Foundation (SECUF), Credit Union Vendor Management (a new company LEVERAGE purchased last year with a few LSC partners), and Credit Union Service Centers (CUSC) of Alabama, which we manage through a services agreement.

The LSCU & Affiliates will also have two new brands: Alabama Credit Union Association (ACUA) and the Florida Credit Union Association (FCUA). These brands are strictly for advocacy purposes to give our credit unions greater state-specific identification when interacting with lawmakers, candidates, and regulators. As Tip O'Neil said, "All politics are local."  We are aware that "ACUA" is an acronym used sometime to refer to the Alabama Credit Union Administration, but most state lawmakers and officials know them as the Alabama Credit Union Administration not ACUA. We don't feel this will cause confusion. We've created some FAQs about ACUA and FCUA here.

One other minor change is the LEVERAGE tagline. For three years it's been LEVERAGE, the "LSCU Service Corporation." We are changing the tagline to LEVERAGE, "Your Advantage." This reflects our growth in selling products and services outside our core markets of Alabama and Florida. LEVERAGE has many products and services to streamline your operations, save you money, and reach more members. Every business is looking for an advantage on their competitors and for credit unions it's LEVERAGE.

For most, there will be no change in what you receive from us via our communication channels. The ACUA and FCUA brands will be laser-focused on advocacy and used in the press from time to time when deemed appropriate. Additionally, if other state leagues are interested in consolidating, this new brand positioning demonstrates our commitment to maintaining state-specific brand identity.

Thank you for your continued support of the LSCU & Affiliates. Our success would not be possible without your continued membership with the League and support of LEVERAGE.

Where's Patrick? This week I will work in the Birmingham office. I'll spend Monday morning at a CEO breakfast in the Wiregrass Chapter. Our internal Don't Tax My Credit Union task force meets on Wednesday and Thursday we hold our management team meetings. You can see my schedule for the next two weeks by clicking on Where's Patrick?

View the President's Quarterly report for the second quarter in the LSCU Video Room. [ Return to Top ]

LSCU Top Headlines
This week's top League headlines

LSCU Don't Tax webinar posted
The LSCU & Affiliates held a webinar on July 2 to update credit unions on tax reform in Washington, D.C. and also lay out a plan for credit unions of the rest of the year. The plan includes asking credit unions to use social media in July to let their senators know "Don't Tax My Credit Union." The League recorded the webinar and it is posted in the LSCU Video Room. If your credit union would like a copy of the webinar, contact LSCU VP, Communications Mike Bridges at 866.231.0545 ext. 1022.

CO-OP Financial Services kicks off consumer rebranding promotion
The first phase of a comprehensive marketing initiative to rebrand and promote credit union shared branching to consumers will be launched later this month by CO-OP Financial Services.
Read more in the LSCU top stories.

President's Quarterly Report posted
The LSCU & Affiliates CEO Patrick La Pine provides credit unions with an update every quarter on the League's priorities. The second quarter video has been posted. It looks back at the AC&E, gives an update on the tax situation in Washington, and also introduces the new VP of Transactional Services for LEVERAGE. View it in the LSCU Video Room.
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Governmental Affairs News
This week in Alabama politics: fundraising numbers released

Fundraising numbers released
The secretary of state’s office recently installed a new online reporting system for candidates and PACs. This new system allows candidate fundraising totals and names of contributors to be available at a much faster rate than before. Monthly reports were due at the beginning of last week and several incumbents running for statewide re-election are already putting up notable numbers.

The most impressive numbers so far come from Gov. Robert Bentley. During the first month fundraising, his team was able to collect $422,500. Still no Democrats have entered the race against him.

Lt. Governor Kay Ivey has yet to file a report. State law requires that a statewide candidate raise over $25,000 before having to file. Incumbent Attorney General Luther Strange reported raising $126,250. Like Gov. Bentley, neither Ivey nor Strange have Democratic opposition at this point.

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: fundraising for Scott's re-election campaign in full swing

No campaign account yet, but Gov. Scott's committee has $11 million in the bank
He has yet to open up a campaign account, but Gov. Rick Scott’s 2014 re-election campaign is in full swing. “Let’s Get to Work,” a committee supporting his re-election, has raised $8.6 million since the beginning of the year and has $10.8 million in the bank. The nearly $9 million raised this year is almost 30 percent of the $31.4 million it has brought in since its inception in June, 2010. Much of the money has come from companies with business in front of Scott and the legislature.

After healthcare law delay, Medicaid expansion in Florida remains in the shadows
According to the Miami Herald, the Obama administration’s decision to delay the Affordable Care Act health insurance mandate on employers has lessened some of the leverage advocates of expanding Medicaid in Florida had on lawmakers, but it will not end the debate. On Wednesday, House Republicans cast the one-year delay as proof that lawmakers are right to worry about the consequences of the law, which they say is deeply flawed. Supporters of Medicaid expansion, meanwhile, said the decision of the federal government should not affect deliberations in Florida. The Obama administration announced the year-long delay Tuesday, saying businesses need additional time to comply. As part of the law, companies with more than 50 employees must provide health care coverage to their workers or face steep fines. Read more here.

If you have any questions on any legislative issues, 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: view this week's floor schedule and committee meetings

Floor Schedule
This week, the House is expected to consider the “Energy and Water Development, and Related Agencies Appropriations Act, 2014” (H.R. 2609), the “National Strategic and Critical Minerals Production Act of 2013” (H.R. 761), and possibly the “Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2014” (H.R. 2410). No votes are expected in the House on Friday.

The Senate will vote on the nomination of Gregory Alan Phillips, of Wyoming, to be United States Circuit Judge for the Tenth Circuit. Later this week, the Senate is expected to consider legislation to retroactively freeze the rate on federal student loans.

Committee Meetings
View a complete list of committee meetings being followed by governmental affairs this week.  

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: advertising consumer leases - trigger terms

There are two terms that, if included in an advertisement, trigger additional disclosure requirements. These are:

  • The amount of any payment required to be made by the member with respect to the lease.
  • A statement regarding any capitalized cost reduction or other payment required to be made by the member at the beginning of the lease (for example, prior to consummation, at consummation, or by delivery, if later than consummation).

In cases where an advertisement contains a trigger term, the following additional information must be disclosed:

  • You must state that the transaction advertised is a lease.
  • You must include the total amount of any initial payments required on or before consummation of the transaction or delivery of the property, whichever is later. In cases where the transaction does not require the member to provide an initial payment, you are not required to state that fact.
  • If applicable, you must include a statement that a security deposit is required.
  • You must state the number, amount, and timing of scheduled payments.
  • If the member might be liable at the end of the lease based on the residual value of the leased property, the credit union must provide a simple statement that an extra charge may be imposed at the end of the lease term.

However, there are exceptions for television or radio advertisements. To learn about the options your credit union has for handling the exceptions—and for more details about the regulations that apply when your credit union is advertising a consumer lease—visit the Advertising Consumer Leases topic on the Advertising channel of 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 ]

CUNA Regulatory Advocacy Report - week of July 8, 2013

Each week CUNA provides credit unions a wealth of information through its Regulatory Advocacy Report. The report highlights for the week of July 8, 2013 include:

  • NCUA extends effective date for new loan participation rule
  • Housing finance reform progresses as CUNA advocacy continues 
  • Regulators approve Basel III for banks

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

                    Compliance calendar and training
                    July 2013

                    September, 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
                    Wondering what educational opportunities are coming up? Check them out below

                    Upcoming Events:

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

                    July 9: Handling ACH Origination Exception Issues

                    July 10: Consumer Debt Resolution Series: Collecting Decedents’ Debt

                    July 11: Internet Fraud Claims: Who is Liable?

                    July 16: Simple Guide to Asset Liability Management that Everyone Can Understand

                    July 17: Frontline Excellence Series: Avoiding Loss at the Teller Line

                    July 18: Interagency Appraisal & Evaluation Guidelines: Including New Requirements Effective January 18, 2014

                    July 23: Mandatory Compliance Series: Compliance Rules All Staff Must Know: Red Flags for ID Theft, Bribery & Privacy

                    July 24: Business Writing Boot Camp, Including Submission & Critique of Your Own Writing Sample

                    July 30: Director Series: Understanding & Utilizing Call Reports for Credit Union Governance

                    July 31: Regulation E: Complying with the Final 1073 International Remittance Rule: Deadline October 28, 2013

                    For a complete listing of webinars for 2013, click here. [ Return to Top ]

                    The Supervisory Committee Conference hotel cutoff date extended

                    If you are attending the Supervisory Committee Conference, August 4-7, be sure to make your hotel reservations before the hotel extended cutoff date on Friday, July 12. Details below.

                    Hilton Sandestin Beach Golf Resort & Spa
                    4000 Sandestin Boulevard South
                    Destin, FL 32550
                    www.sandestinbeachhilton.com

                    Reservations: 1-800-559-1805
                    Group Rate: $209 per night
                    Room Rate Code: LSC

                    Room Rate Cutoff: Friday, July 12, 2013 [ Return to Top ]

                    Cooperative Initiatives News
                    International Credit Union Day tools & merchandise are now available

                    CUNA ICU Day tools
                    This page houses everything in the CUNA store including graphics, articles, and more PR tools from the World Council of Credit Unions.

                    CUNA Celebration Stores
                    This is the place to shop. Currently, new merchandise for ICU Day is being featured. You will also find "Don't Tax My Credit Union" items (discounted 25%) or sales on the remaining Youth Week 2013 items.

                    Poster/brochure coming in July
                    Shortly after the 4th of July holiday the ICU Day brochure will be mailed out. It takes a couple of weeks to ship, so be on the watch for it in the middle of the month.

                    Inside the brochure is a sample of the full-size poster. This year, the actual posters will be printed on much heavier paper (80# cover) to ensure they arrive at your branch in good shape and hold up well through the fall. Additionally the minimum order on the large poster has dropped to two. [ Return to Top ]

                    News from You
                    Recent promotions at Florida credit unions


                    Dr. Aaron Small

                     

                    JetStream announces new EVP, COO, Dr. Aaron Small
                    JetStream Federal Credit Union, based in Miami Lakes, announces the promotion of Dr. Aaron Small to executive vice president and chief operating officer. Small previously served as both senior vice president/COO and VP of member experience. As EVP/COO, Small oversees JFCU’s branch network, operations, compliance, training, and IT.

                    Manatee Community FCU announces new president
                    Manatee Community Federal Credit Union, based in Bradenton, announces the appointment of Sherod Halliburton to president. He replaces the longtime CEO Cindy Barco, who retired after 35 years of exemplary service. Mr. Halliburton has been employed by MCFCU as executive vice president since February 2012. 


                    Sherod Halliburton

                    [ 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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