LSCU eSignal Weekly
LSCU eNews Weekly July 22, 2013
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LSCU eNews Weekly
In This Issue
President's Point
Changes coming to eSignal
LSCU Top Headlines
This week's top League headlines
Governmental Affairs News
This week in Alabama politics: new chairman named and more candidates announced
This week in Florida politics: top jobs filled at OFR, unemployment rate remains flat, and more
Washington Update: latest on tax, housing finance, and patent reform
Compliance Corner
League InfoSight highlight: Prescreen opt-out notice
CUNA Regulatory Advocacy Report - week of July 22, 2013
Compliance calendar and training
Education
CUNA announces preferred pricing for CUs under $50 million in assets
Itís not too late to register for the LSCU Supervisory Committee Conference
Communications News
New multimedia available: AC&E speakers on leadership and Congress
LEVERAGE News
Ventelligence update
News from You
JetStream FCU awarded CDFI certification
Covington presented LSCU Young Professional of the Year Award
EMPLOYMENT
View available credit union jobs
In This Issue
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President's Point

Changes coming to eSignal

Communications is one of the most difficult areas for any association to master. There is always a fine line between over-communicating and under-communicating. Each year our members survey results show that our membership think we do a good job of transmitting information. However, there are still times that we know you feel we send out too many emails. To help alleviate this, in August, we are going to begin a daily, abbreviated edition of eSignal.

Why are we making this change? First, we want to be your credit union's first source of industry information. Our current eSignal is rich in content, but long. A daily eSignal will be much shorter with more pertinent and timely information for that 24 - 48 hour news cycle. This will also cut down on the number of other emails you receive from the LSCU & Affiliates because you will be getting this publication every day. Information is moving so quickly through social media and websites; we feel it is important to keep you informed. Keep your eyes out from the new daily eSignal next month.

Don't Tax My Credit Union:  As you know, preserving the credit union tax exemption is our top priority. We have a plan for our credit unions through the end of the year to inform our lawmakers on the benefits of credit unions in the marketplace. To help all of you with your planning for reaching your staff, directors, and members, we are sending out a monthly Don't Tax My Credit Union newsletter. It is a simple newsletter keeping you updated on the tax battle, the next steps in Washington, D.C. and what our Don't Tax My Credit Union plan calls for the following month. Our hope is that it keeps you updated, as well as gives you enough time to implement part of the plan. The first issue was sent out last week and you can find it archived on our Don't Tax My Credit Union Resource page.

Communications is a core service at the LSCU & Affiliates. Our hope is that a daily eSignal and the Don't Tax My Credit Union newsletter will keep you better informed. 

Where's Patrick: This week I will work out of the Tallahassee office. While I begin preparations for our August board meetings, I am also meeting with CO-OP Financial Services on Monday and we have a Credit Union House telephonic board meeting on Tuesday. On Thursday our internal Don't Tax My Credit Union task force meets. You can see my schedule for the next two weeks by clicking on "Where's Patrick" ? [ Return to Top ]

LSCU Top Headlines
This week's top League headlines

Don't miss out on "Don't Tax My CU" Tuesday
This Tuesday, July 23, is "Don't Tax My CU" Tuesday. Take part by tweeting "#DontTaxMyCU," to your credit union's senators and House members. Read more in the LSCU top stories

NCUA regional changes bring FCUs from two states to our region
NCUA regional changes bring federal credit unions in Louisiana and Arkansas to our Region III precinct. Read more in the LSCU top stories.

John Foley's Glad To Be Here Foundation makes donation to Children's Miracle Network
John Foley's Glad To Be Here Foundation recently made
a $1,150 donation to Children's Miracle Network in the League's honor. The amount was split between the Shands Hospital in Gainesville and Children's Hospital of Alabama, Birmingham.

Latest Credit Union House newsletter is available now
View
the latest edition of "Highlights from the Hill", the Credit Union House newsletter. This issue includes several highlights from the second quarter, as well as a list of annual contributors.
[ Return to Top ]

Governmental Affairs News
This week in Alabama politics: new chairman named and more candidates announced

Rep. Bill Poole named chairman
Last week House Speaker Mike Hubbard (R-Auburn), announced that Rep. Bill Poole (R-Tuscaloosa), will take on the role of chairman of the House Ways and Means Education Committee and replace Rep. Jay Love (R-Montgomery) who is officially resigning August 1. Poole was elected in 2010 and is an attorney in the Tuscaloosa area, he graduated from the University of Alabama and University of Alabama School of Law.

Two announced for special election for District 74
Dimitri Polizos and Charlotte Meadows both announced that they will run for the District 74 seat being vacated by Rep. Love on August 1. Polizos is a Montgomery County Commissioner and the owner of a restaurant in Montgomery. Meadows is a former Montgomery County Board of Education president and is currently the outreach director for Student’s First, a national education reform group. 

Joyner to run for Alabama Senate
Republican Danny Joyner of Brewton has said he will be a candidate for Senate District 22, the seat currently held by Sen. Marc Keahey (D-Grove Hill). Joyner is a retired police officer and owns a security firm. District 22 is one of the largest Senate districts in Alabama, it includes all of Escambia and Washington counties, and parts of Baldwin, Choctaw, Clarke, Conecuh, Mobile, and Monroe 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. [ Return to Top ]

This week in Florida politics: top jobs filled at OFR, unemployment rate remains flat, and more

Two top jobs filled at the Office of Financial Regulation
Robert Hayes, interim director of financial institutions for the Office of Financial Regulation, was appointed to the position permanently on May 31, according to a quarterly report to Gov. Rick Scott's office. Also, Colin Roopnarine was named general counsel for OFR. Roopnarine is a former deputy general counsel for the Department of Business and Professional Regulation.

State's unemployment rate remains flat at 7.1 percent
Florida's unemployment rate remained flat at 7.1 percent in June. The unemployment rate has been unchanged since May, when the rate dropped 0.1 percent from the previous month. Read more.

Protesters hunker down for weekend inside Capitol
About 100 protesters remained inside the Florida Capitol Friday after offices closed for business at 5 p.m. The Dream Defenders, mostly college-age students upset by George Zimmerman’s acquittal in the death of 17-year-old Trayvon Martin, say their sit-in will continue until Gov. Rick Scott calls a special legislative session to repeal the state’s "stand your ground" law. Numerous individuals said they were planning to stay put throughout the weekend even though Scott met with protesters Thursday night and told them he supports the state's self-defense law as it is.

If you have any questions on any legislative issues, contact LSCU Director, Governmental Affairs-Florida, Jennifer Martin at 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: latest on tax, housing finance, and patent reform

Both the House and the Senate are in session this week.

Floor Schedule
The House is expected to consider the Defense Appropriations bill, the Energy Consumers Relief Act of 2013 (H.R. 1582) and the Coal Residuals Reuse and Management Act of 2013 (H.R. 2218). The Senate is expected to renew the motion to proceed to the Transportation, Housing and Urban Development, and Related Agencies Appropriations bill (S.1243).

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

Tax Reform
The deadline set by Senate Finance Committee Chairman Max Baucus and Ranking Member Orrin Hatch for senators to submit their ideas for parts of the tax code to retain is this Friday. CUNA continues to meet with senators and their staff regarding this process. Last week, CUNA sent a letter to each member of the United States Senate encouraging the retention of the credit union tax status.

Housing Finance Reform
As noted above, there are two major meetings this week on housing finance reform. Read more.

Patent Reform
Last week, CUNA joined four dozen groups in sending a letter to Congressional leadership urging them to take action on legislation that addresses the continuing problems posed by patent trolls. There may be some interest in both chambers to address this issue at some point this year. The coalition with which CUNA is aligned is a broad, multi-industry coalition, including technology groups, financial services groups, retail organizations, and others. 

Other Issues
Last week, CUNA also submitted testimony for the record of hearings on data breaches and regulatory burden, issues we continue to monitor closely. CUNA's data breach statement was submitted for the record of a hearing in the House Energy and Commerce Committee; the regulatory burden statement was submitted for the record of a hearing in the House Government Reform and Oversight Committee.

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

Compliance Corner
League InfoSight highlight: Prescreen opt-out notice

The Fair and Accurate Credit Transactions Act of 2003 directed the Federal Trade Commission, in consultation with the Federal banking agencies and NCUA, to adopt a rule to improve the required notice to consumers regarding their right to opt out of pre-screened solicitations for credit or insurance.

Visit the Pre-screen Opt-out Notice topic on the Advertising channel of InfoSight to review the short and long portions of the statement that you must provide. The topic also links to the rule, where you can find model forms in both English and Spanish.

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 the League website, 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 22, 2013

Each week CUNA provides credit unions a wealth of information through its Regulatory Advocacy Report. The report highlights for the week of July 22, 2013 include:

  • CUNA seeks comment on Department of Defense service members consumer credit regulation
  • CUNA submits letter regarding housing finance reform efforts
  • Administrative Conference of the U.S. Recommends cost-benefit analysis improvements in rulemaking  by independent agencies 

                        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 the League website for access. [ Return to Top ]

                        Education
                        CUNA announces preferred pricing for CUs under $50 million in assets

                        After recently reviewing its product offerings and pricing, CUNA recently announced it will be offering preferred pricing for all affiliated credits unions under $50 million in asset size. Credit unions will also have the option to receive an additional discounted annual rate if they take advantage of a 3-year contract with CUNA CPDOnline. CUNA CPDOnline credit unions receive unlimited access to courses and exams, the ability to upload their own training documents, reporting tools, and development plans with their membership.

                        For more information, download the PDFvisit CUNA's website, or contact Jackie Sathers at 800.356.9655, ext. 418. [ Return to Top ]

                        Itís not too late to register for the LSCU Supervisory Committee Conference

                        Give your supervisory committee the proper tools to do the job right! Join the League of Southeastern Credit Unions at the Supervisory Committee Conference, August 4-7, 2013, at the Hilton Sandestin Beach Golf Resort and Spa in Destin, FL.

                        We have a full agenda of the latest information and updates regarding credit union auditing, compliance, and fraud. Although designed with supervisory committee members and board members in mind, this conference is also a perfect fit for credit union managers, compliance officers, and internal auditors. [ Return to Top ]

                        Communications News
                        New multimedia available: AC&E speakers on leadership and Congress

                        The LSCU & Affiliates have added two new videos from this year's Annual Convention and Exposition (AC&E) in the video section of the LSCU website. The videos give the viewers a taste of the AC&E and the information that attendees gained from each speaker. 

                        Former Blue Angel lead solo pilot John Foley gave a presentation on high performance leadership. He showed videos from inside the cockpit of the Blue Angel plane, as well as the Blue Angel briefing room. Foley challenged attendees to adopt some of the principles of the Blue Angels like verbal contracts and trust. His video gives you a feel for his presentation. 

                        Reid Wilson, editor-in-chief of the National Journal Hotline, provided a great presentation during the Governmental Affairs luncheon. Wilson gave an overview of the last presidential election and the trends of the voters. He also urged attendees to continue to advocate for their issues. In the video, he talks about tax reform and the need to continue to make trips to Washington, D.C. 

                        If you have any trouble accessing the multimedia, contact LSCU VP, Communications Mike Bridges at 866.231.0545 ext. 1022.  [ Return to Top ]

                        LEVERAGE News
                        Ventelligence update

                        LEVERAGE strategic buying has produced several success stories for credit unions. Achieva CU will be adding to their already more than 30 percent savings record by conducting multiple strategic buying events for computer equipment in the upcoming weeks. If your credit union would like to participate in an upcoming event, email a LEVERAGE Business Development Consultant for more information.

                        Three credit unions are now managing their third-party vendor contracts on the LEVERAGE automated platform, Ventelligence. Congratulations to Railroad & Industrial FCU, HCA FCU, and Seminole Schools FCU for increasing the efficiency of their contract management activities.

                        Learn more about Ventelligence by watching this short video. [ Return to Top ]

                        News from You
                        JetStream FCU awarded CDFI certification

                        JetStream Federal Credit Union in Miami Lakes, FL was recently awarded with CDFI Certification. JetStream will use the additional resources facilitated from the certification, specifically the grant opportunities, to fund the products and services needed for its low-income members.

                        “Our goal is simple: Improve our members’ overall financial knowledge, options, and condition,” states JetStream FCU’s President & CEO Jeanne Kucey. “The CDFI certification enables us to better serve our existing membership, the non-banked in our local communities, while also strengthening JetStream’s bottom line ensuring our continued viability as a financial partner.” [ Return to Top ]

                        Covington presented LSCU Young Professional of the Year Award

                        Unable to attend the awards ceremony at the LSCU AC&E in June, Brooke Covington was presented LSCU's Young Professional of the Year Award at the July Montgomery Chapter Meeting. Covington is ASE Credit Union's EVP/COO. She is the first recipient of the award as the Young Professional category was added this year.

                        She was chosen as recipient for her instrumental part of advancing the credit union and the credit union movement. She has pushed to have more technology in the credit union and more financial literacy for the community. Her strong character truly showed after stepping into the position of EVP/COO after the former COO had a stroke.

                        Upon receiving her award, Covington said that she is very honored to have been recognized by LSCU, and fully believes in the credit union movement and the credit union concept, people helping people.


                        Brooke Covington (center) with CEO Ned McHenry (left)
                        and Director Charles Clack (right).

                        [ 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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