April 2015
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FOCUS is the monthly e-Newsletter of the Office of Small Credit Union Initiatives (OSCUI). It focuses on helping small credit unions achieve success by providing news and highlighting opportunities. Subscribe
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 Featured this Month (Click on a heading to go to the article.)
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Headliner
156 grants awarded to low-income credit unions!
Congratulations to the 153 low-income designated credit unions that received awards in the first grant round of 2015. Earlier this month, NCUA announced a total of $520,440 to this group of credit unions. Some credit unions received more than one grant.
With this funding, credit unions can now begin the process of finding student interns or signing up for training programs.
A list of credit unions that received funding can be found here. Here is a breakdown of the funding by initiative.
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Initiative
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Awards |
Amount Funded |
| Staff or Volunteer Training |
91 |
$273,000 |
| Student Internship |
65 |
$247,440 |
| Total |
156 |
$520,440 |
As reported in the March issue, demand far exceeded the available funds for this grant round. After all applications were evaluated, grants were awarded until the round's allocation was exhausted.
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| Webinars begin at 2 p.m. Eastern and last 90 minutes. Register on our website. May 20 Cyber-Security: The Basics June 17 Remittances and Other Money Transfer Services July 22 Compliance Issues Aug. 19 Small Credit Union Accounting Issues Sept. 16 Participation Lending in a Safe and Sound Manner Oct. 21 Data Mining: Golden Nuggets for Your Marketing Campaign Nov. 18 Auto Lending Dec. 16 Getting Started in Mortgage Lending |
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We value your input. Email suggestions for webinar topics to our Training division at
[email protected].
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| In Focus with Bill When good things go bad 
A few years ago, the CEO of a credit union gave me great guidance on how to maintain creativity in the face of examination reviews: "You can be innovative and in good standing with NCUA only if you show your examiner in advance the problems you will encounter and the solutions addressing your exposures." Another well regarded CEO agreed, "Beneath the grant funding and innovation, there is always a credit union that can operate sustainably without external support."
Your service to members, and their love of the credit union, is not an excuse or explanation for performance. That your credit union has survived other disasters in the past is no comfort. Examiners cannot look at your performance and work backwards to the plan that will carry you safely into the future.
Read the entire article.
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OSCUI in the News
Recent media citings about our office and services
NCUA Awards $520,000 in Grants
Credit Union Times
The low-income credit union grant recipients will receive a total of $520,440 through the first Community Development Revolving Loan Fund grant round this year. The NCUA's Office of Small Credit Union Initiatives administers the program.
NCUA Announces 1st-round CDRLF Grants
CUNA
The LICUs, which provide affordable financial services to underserved communities, will be able to offer staff training and student internships with the grants that are administered through the agency's Office of Small Credit Union Initiatives.
NCUA Intro's Videos on Obtaining CDFI Certification
CU Today
Staff from NCUA's Office of Small Credit Union Initiatives and the Treasury Department's CDFI Fund discuss subjects that include the seven criteria that must be met for certification and the benefits of certification. One video features success stories of three credit unions.
NCUA Releases CDFI Certification Videos
Credit Union Times
"Our goal is to promote awareness of the benefits of the CDFI fund programs to credit unions that serve the underserved," Diane Rector, training manager for the NCUA's Office of Small Credit Union Initiatives, said.
NCUA Revises Secondary Capital Procedures
NAFCU
NCUA still has a working group studying secondary capital issues. Led by William Myers, director of the agency's Office of Small Credit Union Initiatives, the working group will consider ideas for raising the value of secondary capital for low-income credit unions, the agency says. NAFCU welcomed the agency's plan to form the group last December.
NCUA Eases Secondary Capital Supervision
Credit Union Times
In December of last year, Matz announced the formation of a secondary and supplemental capital working group to be led by William Myers, director of the NCUA's Office of Small Credit Union Initiatives. According to the NCUA, the group is set to publish a secondary capital web page later in the month.
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For Your Attention
Now accepting Consulting requests
The deadline for credit union nominations for the next Consulting cycle
is May 31at 5 p.m. [Eastern]. The cycle will run from July through December 2015. Credit unions with assets below $50 million, a low-income designation or Minority Depository Institutions are eligible. Take advantage of this opportunity for free consulting services by an Economic Development Specialist. Complete a nomination form for your credit union. We expect strong demand for the upcoming cycle. During June, our staff will review the nominations and select credit unions for enrollment. We'll then notify credit unions of their selection and introduce them to their consultant. For more information about our selection criteria and process, refer to the Consulting column in the May 2013 issue of FOCUS. Here is some recent feedback on our consulting services: I think all the services of OSCUI are wonderful and should be used by all small credit unions; it feels great to have the support in place. CEO Lynn Gray Remington FCU Go to our website to learn more about OSCUI's Consulting Program or email us at [email protected]. [Back to top] |
Consulting
Risk-based lending pricing policy and practice
To properly maintain credit union loan policies and assure their agreement with actual practices, a staff member should be assigned as the policies compliance officer. The compliance officer's duties should be supervised by the supervisory committee or the board of directors. The loan policy should be reviewed at least annually, and adjusted and revised as necessary. The purpose of the loan policy is to provide guidance on the proper procedures for acceptance and review of loan applications, and the funding limits and types of acceptable loans. The policy guides office staff, loan officers and the credit committee in processing loan applications.
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Grants and Loans
Stay tuned for Round 2
Read our big announcement in this month's Headliner article.
NCUA will announce its second grant round for 2015 soon.
Learn more about the Grant Program from our website.
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Partnerships & Outreach
America Saves National Savings Forum
The National Savings Forum will be held May 20 in Washington, D.C. The Credit Union National Association and National Credit Union Foundation are among the sponsors of this one-day forum featuring panel discussions on homeownership and retirement savings. Click this link to register.
Share this issue with your colleagues who are not subscribers.
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Training
Cybersecurity webinar coming in May
Credit Unions can get up-to-date information on cybersecurity and deterring cybercrime through our May webinar, see the webinar schedule above to register.
Dominic Carullo, an Economic Development Specialist, will moderate a panel that includes Timothy Segerson, NCUA's Deputy Director of the Office of Examination and Insurance; Chris Gill, Risk Management Consultant with CUNA Mutual Group and Jessica Cromer, with Citrix. Segerson will discuss NCUA's collaboration with the Federal Financial Institutions Examination Council to develop a self-assessment guide for use by the credit union system.
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Happening in OSCUI
Information and updates Outreach OSCUI staff recently attended the following meetings and events: National Association of State Credit Union Supervisors-NCUA, Credit Union National Association (CUNA) Mutual Risk Management Group, Network of Latino CU Professionals Annual Reception, the National Federation of Community Development Credit Unions Board of Directors meeting, the CDFI Credit Union Round Table, the National Association of Federal Credit Unions, the Pew Research Center and the CUNA Small CU Committee. Details OSCUI welcomed the assistance recently provided by the following NCUA staff from other departments: Glenda Hassan is a member of the examining staff from NCUA's Region III  office. She is currently completing a 5-week detail assignment assisting our Partnership and Outreach division. Glenda has been an examiner for almost 15 years and is stationed in Mobile, Alabama. During her career, she has worked with many small and medium sized credit unions. Her reason for requesting a detail in OSCUI was, "to enhance her understanding of the OSCUI processes in order to implement them more effectively in the field." Leigh Hodecker recently performed a detail with the Partnership &  Outreach team. She is a principal examiner with NCUA's Region I office stationed in Albany, New York. Leigh began her career at NCUA in 2010. Her reason for requesting a detail to OSCUI was to, "better understand what services OSCUI has to offer small and low-income designated credit unions so I can provide this knowledge to my credit unions who could benefit from these services." Eric Vuong of NCUA's Asset Management and Assistance Center who is assisting the Grants and Loans division on a 60-day detail assignment. Grant and Loan Activity OSCUI assisted two credit unions with urgent need funding requests. In one case, a credit union was awarded $7,500 to repair water damage to its office space as a result of a blizzard this past winter. In the other case, a recently chartered credit union received a $7,500 grant to help them develop a computer network.
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Announcements
Non-NCUA sponsored events and opportunities
Grants and Loans
Applications are now being accepted for the second annual Empowerment Awards: The awards, sponsored by Promontory Financial Group, recognize and support consumer- and community-oriented financial innovations that increase access to responsible banking services in traditionally underserved communities. Promontory will recognize winning projects in two categories through a financial prize, pro bono consultations with senior Promontory professionals, and an awards reception.
Partner Events
Registration is now open for the CDFI Fund's Expanding CDFI Coverage in Underserved Areas Capacity Building Initiative workshops. This series of two-day workshops will provide specialized training and technical assistance to certified and emerging Community Development Financial Institutions (CDFIs) seeking to expand their reach into underserved communities. The workshops include content that is applicable to all CDFI organizational structures, including credit unions.
Application instruction packages are now available for the 2016 Volunteer Income Tax Assistance and Tax Counseling for the Elderly grant programs. Applications will be accepted May 1 through June 1, 2015. Applicants must wait until the announcements post on Grants.gov on May 1 to download the application. Additional information is available on the VITA and TCE webpages.
The Grant Program Office will host a call to review the application process on May 5. A question and answer session will follow the presentation. Pre-registration is not required.
Toll-free Number: 888.331.8226
Participant Code: 8375156
Time: 1:00 p.m. - 2:00 p.m. Eastern
The Consumer Financial Protection Bureau expanded its Your Money, Your Goals toolkit to include three new versions to better help you serve your communities. The three new versions are specially created for organizations that engage volunteers, Legal Aid organizations, and workers organizations. You are encouraged to learn more through the following webinars; no pre-registration required.
Your Money, Your Goals - An Introduction to the New Toolkits Webinar, April 30 from 2 p.m. to 3 p.m. Eastern. To join, follow these instructions:
- Click the following link at the time of the webinar:
https://www.mymeetings.com/nc/join/
- Conference number: PW3479935
- Audience passcode: 3796830
- Dial the following number at the time of the webinar:
- (800) 369-1857 (calling within the United States)
- Participant passcode: 3796830
Your Money, Your Goals for Community Volunteers Train-the-Trainer Webinar on May 15 from 1 p.m. to 5 p.m. Eastern.
To join, follow these instructions:
- Click the following link at the time of the webinar:
https://www.mymeetings.com/nc/join/
- Conference number: PW3479982
- Audience passcode: 6263667
- Dial the following number at the time of the webinar:
- (800) 779-1743 (calling within the United States)
- Participant passcode: 6263667
Other
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Pamela L. Williams
Editor
Contributing writers:
Victor Costa, William Myers, Jason Penn, Diane Rector, Oscar Trejo
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NATIONAL CREDIT UNION ADMINISTRATION
The Office of Small Credit Union Initiatives
1775 Duke Street, Alexandria, VA 22314
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