LSCU eSignal Weekly
LSCU eNews Weekly August 26, 2013
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LSCU eNews Weekly
In This Issue
President's Point
Hike the Hill and Don't Tax My Credit Union
LSCU Top Headlines
This week's top League headlines
Governmental Affairs News
This week in Alabama politics: Ivey has competition and Strange dismisses himself
This week in Florida politics: lieutenant governor search continues at a crawl
Washington Update: interchange debit rule, Don't tax my CU, and upcoming town halls
DTMCU Advocacy
IBM Southeast EFCU employs social media for DTMCU
DTMCU audio podcast with Alabama Telco
Credit unions meet with lawmakers
Compliance Corner
League InfoSight highlight: information sharing
CUNA Regulatory Advocacy Report - week of Aug. 26, 2013
Compliance calendar and training
Education
Registration open for the Leadership Development Conference
Save the date for Collections & Bankruptcy School
Cooperative Initiatives News
International Credit Union Day - engage your staff
Orlando Federal Credit Union CFO joins prestigious i3 innovation program
News from You
First Florida CU hosts Mad City Money event
LEVERAGE News
American consumer symposium draws powerful lineup of speakers
EMPLOYMENT
View available credit union jobs
In This Issue
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President's Point

Hike the Hill and Don't Tax My Credit Union

It is hard to believe that Labor Day is just one week away; it is amazing how this very wet summer has flown by. The fall brings with it many potential challenges and opportunities for credit unions and the League. I hope that your credit union plans to send representatives to our Hike the Hill, which is scheduled for Sept. 10-11. 

With comprehensive tax reform looming large in Washington, D.C., every opportunity that we have to meet with our lawmakers and key staff should be taken seriously. We are waiting to see the next step from the House and Senate leadership. The latest information we have heard is that each branch is writing a tax reform bill and each hopes to have it done by the end of September or October. That means our visit comes at the perfect time. We need you there to speak with our lawmakers and let them know that a tax on credit unions is really a tax on your members.

About three weeks ago we began distributing 110,000 Don’t Tax My Credit Union postcards to credit unions across both states. Our hope is to deliver as many of those postcards as possible during Hike the Hill. We want you to be there to deliver them to your lawmaker. Imagine the scene as you walk into the office with other credit union officials and drop off thousands of postcards. This will make a major impact on the lawmakers and their staff; exactly what we want.

Last week Tampa-based Suncoast Schools FCU gave us an update on their activities and they are extraordinary. They ordered 25,000 postcards and also distributed 25,000 drive-through inserts to their branches. They need more. Right now Suncoast believes it has touched more than a quarter of its membership on this issue. They have also put Don’t Tax My Credit Union messages on their branch monitors, ATM screens, website, on-hold phone message, and through their social media channels. This is on top of an email blast to the entire membership and short videos by staff. Suncoast Schools is all in. Yes, they are our largest credit union, but the activities they have undertaken are doable by any credit union, regardless of size, if they are committed to preserving the credit union tax exemption. No one can afford to sit on the sidelines during this fight.

I know many of you are all in as well. Let us know what you are doing. Help us get the word to other credit unions on ideas that they can implement. On Sept. 10-11, we want to see you, along with staff and directors, in Washington, D.C. for Hike the Hill. Let us bring our Don’t Tax My Credit Union message to our lawmakers. It is not too late to sign up and make a difference.

Where’s Patrick: I will spend the week before the holiday in the Tallahassee office. Our yearly management retreat is coming up next week and I am preparing for it. We will hold our internal Don’t Tax My Credit Union task force meeting on Wednesday. You can see my schedule for the next two weeks by clicking on "Where's Patrick?"

Visit the LSCU Video Room for the President's Quarterly Report.  [ Return to Top ]

LSCU Top Headlines
This week's top League headlines

Metsger sworn in
New NCUA board member Richard Metsger was officially sworn in late last week. NCUA General Counsel Michael McKenna administered the oath. Metsger takes the seat previously held by Gigi Hyland. His term ends in 2017. Read more in the LSCU Top Stories

Raddon honors credit unions
Two credit unions in Florida picked up prestigious Raddon Financial Group Crystal Performance Awards. Florida Credit Union and Community Credit Union of Florida were honored in the under $500 million in assets category. Raddon looks at a variety of criteria in determining its 22 winners. Read more in the LSCU Top Stories.

LSCU & Affiliates mid-year report
Each year, the LSCU & Affiliates produce a report to show credit unions what it has been working on for the first half of the year. The report covers the major areas: Governmental Affairs, Education, Cooperative Initiatives, Communications and LEVERAGE. The report is perfect to share with credit union boards and staff. View it, and the CUNA second-quarter Membership@Work report, by visiting the LSCU Membership Relations page.

Register for Hike the Hill
Credit unions are highly encouraged to attend the September Hike the Hill in Washington, D.C. In the midst of tax reform, this visit is as important as any have been in the past. Credit unions are asked to send executives, as well as directors. Visit the LSCU Hike the Hill registration form to sign up. A link to the hotel is also provided on the registration page.  [ Return to Top ]

Governmental Affairs News
This week in Alabama politics: Ivey has competition and Strange dismisses himself

Cooke enters race against Ivey
People were beginning to wonder if Gov. Robert Bentley and Lt. Governor Kay Ivey were going to have any opposition in the 2014 elections. For Ivey, the question was answered last week when Dr. Stan Cooke entered the race for Lt. Governor on the Republican ticket. Cooke has accused Ivey of mismanagement of the Senate and wasting tax dollars with several hires made over the past three years. Ivey is not backing down from the accusations, citing the legislature’s high approval rating and several pieces of legislation as successes under her watch. Ivey is still the heavy favorite to beat Cooke. The Republican primary is in June of 2014.

Attorney general recused from grand jury investigation in Lee County
Rumors of grand juries conducting business across the state have been running rampant in Montgomery for the better part of a year. Last week Alabama Attorney General Luther Strange recused himself from an investigation his office is conducting in Lee County. While Strange would not comment further on the investigation, according to court transcripts the investigator that is handling the case generally deals with corruption and ethics complaints against public officials. It is also important to note that this is the same office that has dealt with the recent public corruption cases in Birmingham and those ongoing with former Sen. Lowell Barron. It should be some time before anything concrete is known about the grand jury and who exactly they may be investigating.

Follow the GA team's 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: lieutenant governor search continues at a crawl

OFR gains new legislative, Cabinet affairs chief
According to an OFR news release, Jo Morris has transferred to the Office of Financial Regulation as the new director of legislative and cabinet affairs. Morris previously was a governmental analyst for the Florida Department of Health where she lobbied the Legislature on issues related to public health.

State Economy
Florida's economy -- and the credit or blame for its status -- is likely to be the focal point of the 2014 gubernatorial election. With plenty of numbers and metrics to measure economic indicators, expect both sides to use truths, half-truths, and statistics as the campaign cycle heats up. Read more here.

Search for new lieutenant governor of Florida moving slowly
Gov. Rick Scott's top adviser says the search for Florida's next lieutenant governor is moving ahead slowly and privately with the focus on finding someone who can be a steward of the governor's vision and character. Chief Of Staff Adam Hollingsworth said the only two people engaged in discussions about the subject are himself and the governor. The job of lieutenant governor, re-instituted in 1968 after a long absence, has no specific duties prescribed by law. Gov. Scott is not required to pick a lieutenant governor until next September. But he will need to move faster than that if he envisions a political partner who can help him on the campaign trail. For now, the delay serves the governor's interests, as he waits to see how the Democratic field of gubernatorial candidates shapes up. Plus, if his poll numbers (and likelihood of winning re-election) improve, the appeal of the job will escalate, creating a wider pool of candidates.

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: interchange debit rule, Don't tax my CU, and upcoming town halls

Interchange Debit Rule
Last week, U.S. District Court Judge Richard Leon called the General Counsel for the Federal Reserve into court to discuss his decision to invalidate the Fed’s interchange debit rule. For now, the rule will remain in place, but Judge Leon has made it very clear he is not happy about the Fed’s lack of adherence to Congress’ guidelines in the rule. The Fed has appealed the court’s decision and intends to file for an expedited appeal, hoping to bring this issue to conclusion in a shorter time frame. While it is unlikely that Congress will get involved in this issue again, the League and CUNA are looking at ways to help protect credit unions’ interests.

Don’t Tax My CU
The League continues to work hard on the Don’t Tax My CU campaign, generating nearly 50,000 contacts to Congress thus far, not including the incredible amount of postcards that will be delivered. While the fight to protect the credit union tax exemption continues, the bankers are not backing down and have begun their own website and twitter account aimed at sending twisted truths about the credit union tax exemption. In addition to their website and twitter account, the bankers created a 501(c)4 organization to run advertisements in political newspapers on the Hill. Their ad states, “Thank you to the credit unions that have remained faithful to your mission. For those that have grown beyond recognition, but still wish to have taxpayers subsidize you, @ItsTime2Pay.” This is clearly an attempt by the bankers to splinter credit unions, pitting the large against the small. It is important that credit unions as a movement stick together and show Congress that no matter the size, services offered, or location, credit unions are structured the same and work toward one common goal, offering the best financial services possible to our members.

Upcoming Town Halls:
Click here to view a list of upcoming Alabama and Florida town hall meetings and events. Make plans to attend and tell your elected officials to "Don't Tax My Credit Union." As the GA team knows more, it will post additional town hall meeting information in the GA section of the LSCU website. Contact GA if you do attend any of the meetings and/or events listed, so they can follow up with that official.

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 ]

DTMCU Advocacy
IBM Southeast EFCU employs social media for DTMCU

IBM Southeast Employees’ Federal Credit Union, headquartered in Boca Raton, FL, has recently created its own version of the Don’t Tax My CU campaign to focus on spreading the word through social media channels. With the help of its agency, MDG Advertising, IBM Southeast EFCU created a page on its site that easily allows people to use social media to spread the word about the Don’t Tax My CU campaign.

Through this page, people can share a message about the Don’t Tax My CU campaign on Facebook as well as look up the Twitter handles of their local senators and representatives to send a tweet directly to them. Since launching the page on June 28 it has received 2,364 views.

According to Alex Yarnall, IBM Southeast EFCU director of marketing and brand management, “We think that the CUNA ‘Don’t Tax My CU’ site is great but we thought we could take it a step further and make it simple for members to share this message across social media channels, like Facebook and Twitter. With the help of our agency, we were able to add the ability to look up the Twitter handles for their representatives to send tweets directly to them. This model is not limited to our use; we would like all credit unions to follow in order to get the word out.”

View IBM Southeast EFCU's Don't Tax My CU page.
[ Return to Top ]

DTMCU audio podcast with Alabama Telco

The LSCU & Affiliates has a new audio podcast available. LSCU VP, Communications Mike Bridges talks to Alabama Telco Credit Union VP of Marketing Stanton Davis about how the credit union is marketing the Don't Tax My Credit Union program.

Davis says that Alabama Telco took the issue seriously from the outset and put processes in place to reach the membership, as well as the staff. He said they have done a number of things including utilizing an email campaign, branch monitors and social media. 

To listen to the entire interview, visit the LSCU Audio Podcast room. If you have any trouble listening to the MP3, contact Bridges at 866.231.0545 ext. 1022. [ Return to Top ]

Credit unions meet with lawmakers
 

(l to r) Suncoast Schools FCU, Railroad and Industrial FCU and Florida West Coast Credit Union met with Rep. Rich Nugent (R-FL).

The credit unions talked about tax reform, among other topics. This was a good in-district meeting. 

(l to r) Railroad and Industrial FCU CEO Art Wood, Florida West Coast CU CEO Mary Ott Wood and Suncoast Schools FCU EVP Kevin Johnson meet with Sen. Wilton Simpson (R-New Port Richey).

Among the topics discussed was public deposits. Sen. Simpson is open to hearing more about it following this in-district meeting.


(l tor) Railroad and Industrial FCU CEO Art Wood, Rep. Dennis Ross (R-FL) and Florida West Coast CU CEO Mary Ott Wood. 

Art and Mary recently met with Rep. Ross to talk about tax reform, as well as present him with a check. This was a good example of using the in-district meeting time to discuss issues. 

 

  [ Return to Top ]

Compliance Corner
League InfoSight highlight: information sharing

Use the resources that are included in Information Sharing topic of InfoSight to stay in compliance. This topic provides details about:

  • Voluntary information sharing among financial institutions
  • Sharing SARs with affiliates
  • Guidance on the scope of permissible information sharing covered by Section 314(b)

Also included are links to these resources:

[ Return to Top ]

CUNA Regulatory Advocacy Report - week of Aug. 26, 2013

Each week CUNA provides credit unions a wealth of information through its Regulatory Advocacy Report. The report highlights for the week of Aug. 26th:

  • Metsger sworn in as newest NCUA board member
  • Interchange case to be appealed; status quo for credit unions for now
  • CUNA federal bylaw review
  • CFPB outlines mortgage servicing problems

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

                                Compliance calendar and training
                                September, 2013

                                 October, 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
                                Registration open for the Leadership Development Conference

                                Registration is open for the 2013 Leadership Development Conference (LDC) in Point Clear, AL. The LDC is spread over three days, Nov. 6-8, and features education sessions and speakers that focus on making credit union CEOs, directors, and executives better leaders. 

                                The Closing General Session Keynote Speaker, sponsored by Corporate One FCU, is Jan Hargrave. She is a body language expert who will help all levels of the credit union recognize what members and staff are saying by just their body language. Jan is a captivating speaker that will not only entertain, but she will also give attendees tangible things to look for and share with their staff. You will not want to miss her.

                                The LDC is one of the premier events by the LSCU & Affiliates. Attendees are afforded networking time and plenty of time in the exhibit hall. Register today. If you have any questions, contact LSCU & Affiliates Director of Events Julianne Talley at 866.231.0545 ext. 1148.  [ Return to Top ]

                                Save the date for Collections & Bankruptcy School

                                In an intensive, two-day program, Frank Drake will administer a strong dose of bankruptcy and collections law for credit union professionals, mixed with a generous measure of practical advice, forms, and procedures. Beginning with bankruptcy basics and progressing through complex contract and legal issues, attendees can expect both a broad perspective and a microscopic focus by a 34-year veteran lawyer.

                                Collections & Bankruptcy School
                                Date:
                                Oct. 8-9
                                Location: CFE FCU - Lake Mary, Florida
                                Registration Fee: $199 per day/person | $349 both days/person

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

                                Cooperative Initiatives News
                                International Credit Union Day - engage your staff

                                International Credit Union Day is a perfect time to honor, appreciate, and have a little fun with your members, but make sure your staff enjoys themselves too.

                                Find tips and tools from CUNA to educate your staff on credit unions and ICU Day history in a fun and engaging manner. Tools include a Madlib game (answers & tips), crossword puzzle (activity tips), and a number of articles and videos.

                                These learning opportunities ensure your staff will have just as much fun as your members both on and leading up to ICU Day. [ Return to Top ]

                                Orlando Federal Credit Union CFO joins prestigious i3 innovation program

                                Suzanne Weinstein, CFO, Orlando Federal Credit Union will join 14 other credit union executives in Filene Research Institute’s i3 innovation program, which fosters the development of new ideas and innovations for credit unions. Each new i3 member serves a two-year term that kicks off at Filene’s big.bright.minds event this October at Princeton University.

                                Ideas developed in the i3 program since its inception in 2003 have gone on to change state laws, improve the financial lives of millions of consumers, save countless millions of dollars for credit unions, and drive new members to the credit union system.

                                Historically, Filene accepts less than 20 percent of the applicants into the program. i3 members commit to ideating, testing and reporting on four innovation ideas, piloting two ideas in their credit unions, attending two national meetings per year, and participating in regular group work.

                                For more information on Filene’s i3 innovation program, click here or watch this video.
                                [ Return to Top ]

                                News from You
                                First Florida CU hosts Mad City Money event


                                More than 55 South Florida teens attended First Florida's Mad City Money event on Aug. 15. The teens, from all different parts of the city and different organizations, met at the City of Miramar's Cultural Center for this free, hands-on event teaching teens how to manage their finances.

                                [ Return to Top ]

                                LEVERAGE News
                                American consumer symposium draws powerful lineup of speakers

                                A powerful lineup of speakers will highlight CUNA Mutual Group’s one-day, complimentary symposium on credit union member centricity, Sept. 24, in Tampa, Fla.

                                “Our one-day symposium will feature some of the best and brightest minds in business world on winning the battle for consumers over other financial institutions,” said host Jon Lass, SVP, strategy and business development, CUNA Mutual Group. ”

                                The Symposium begins with a continental breakfast at 7:30 a.m. and concludes by 4 p.m. Credit union staff wanting to attend must register with Catie Shannon at 608.665.8374.

                                A special rate of $99 has been negotiated with the Sheraton Tampa Riverwalk Hotel for Symposium attendees. Call 813.223.2222 for reservations and mention the symposium for the special rate.

                                To learn more, follow @CUNAMutualGroup on Twitter, circle +CUNA Mutual Group on Google+, or visit the CUNA Mutual press room. [ 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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