Lately I've worked on several projects involving secondary capital. You may ask - as I did - why would anyone want or need secondary capital now? Certainly not for liquidity or growth. We've actually seen credit unions cut dividends to 0% and continue to grow! So why pay anything for funding, much less the higher rates often commanded by secondary capital? There might even be a negative marginal spread between the secondary capital rate and the yield on assets. How can anyone afford that?

New name and date for July webinar

Need a compliance tune-up? That's what the compliance team from the National Association of Federal Credit Unions has put together for our webcast on July 21. "Fine Tuning Your Compliance Program: Common Compliance Violations" will feature Jihan (JiJi) Bahhur, Director of Regulatory Compliance, and Bernadette Clair, Senior Regulatory Compliance Counsel, both with NAFCU, as the presenters. Some of the topics the webcast will cover include:

• Bank Secrecy Act

• Fair Lending

• Flood Insurance

• Privacy

We will issue a certificate of completion to individuals who attend and complete the online quiz for this webcast. One quiz per computer. If you are a compliance professional, don't miss this one!

Small credit union accounting webinar

This is a hot-button issue, because incorrect accounting can cause your credit union's financials to be misstated. "Small Credit Union Accounting Issues" is the theme of our webinar on August 19. Economic Development Specialist Dominic Carullo will host experts in the field of credit union accounting as they discuss various topics, including:

• Internal Controls

• Prepaid Accounts

• Negative Shares

• Real Estate Owned

Register for these webinars here 

Promontory Empowerment Awards extends the application deadline to June 26, 2015.  The Empowerment Awards recognize promising projects that provide or encourage safe and fair financial services for underserved communities.

Other Resources

Resource for consumers: The Federal Trade Commission has launched IdentityTheft.gov, the federal government's one-stop resource for identity theft victims.

The Administration for Children and Families has released "Building Financial Capability: A Planning Guide for Integrated Services," an interactive guide for community-based organizations interested in integrating financial capability services into existing programs such as housing, job training or Head Start.

Federal Reserve Bank of Philadelphia released the Community Outlook Survey for first quarter 2015. The survey reports on economic factors affecting low- and moderate-income households in the Third Federal Reserve District, including Delaware, southern New Jersey and parts of Pennsylvania.

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