Keeping you connected to key credit union news, events, and trends: December 20, 2017
In This Issue
Enews will not be published next week in observance of the upcoming holidays. From everyone here at the Louisiana Credit Union League, please accept our wishes of health, happiness, and prosperity during this special season and into the New Year.
2017 Holiday Video
Headline News

LCUL's Cochran Highlights Tax Reform Bill in Latest Op-Ed
Anne Cochran, CEO of the Louisiana Credit Union League, touted the benefits of the bipartisan Economic Growth bill in the op-ed piece published in several papers in the Southeastern U.S. Among the papers the piece was published in were the Washington County News, the Daily Comet, The Star, Tuscaloosa News and the Apalachicola & Carabelle Times. 

"I applaud Anne for conveying the importance of S. 2155, the Senate Economic Relief bill, through earned media," said CUNA President/CEO Jim Nussle. "This legislation would offer mortgage lending relief and additional capital to small businesses to help consumers and communities. I urge you to consider writing a letter to the editor or an opinion piece in your local paper in support of the bipartisan bill that finally puts Main Street ahead of Wall Street." 

Click here to view the op-ed.
CU Tax Status Untouched as Senate Passes Tax Reform Bill; Learn What Tax Reform Means for CUs
The Senate voted Tuesday in favor tax reform legislation that leaves the credit union tax status untouched, and the House is expected to re-vote on the measure today. CUNA unveiled its analysis of the bill Monday. 

 Click here to continue reading.   

December 2017 CU Trends Report Now Available
financial trendsCUNA Mutual Group's Credit Union Trends Report for December 2017 is now available online and can be accessed in the Compliance & Research section of our website, under the heading Research & Information.
 
During October, credit unions picked-up 215,000 in new memberships, loan balances grew at a 10.2% seasonally-adjusted annualized pace while savings balances rose at a 5.2% annualized pace. Firms hired 244,000 workers, nominal consumer spending increased 0.3%, and long-term interest rates increased 16 basis points. Third quarter economic growth was revised up to 3.3% and grew 2.3% from the third quarter of 2016.
 
Additional highlights of this month's report include:
  • At the end of October, CUNA's monthly estimates reported 5,815 credit unions in operation, down 34 credit unions from one month earlier. Year-over-year, the number of credit unions declined by 257, significantly more than the 192 lost in the 12 months ending in October 2016.
  • Total credit union assets rose 0.1% in October, slower than the 0.5% rise reported in October of 2016. Assets rose 6.2% during the past year due to a 6.4% increase in deposits, a 1.4% increase in borrowings and a 6.9% increase in capital.
  • The nation's credit unions increased their loan portfolios by 0.9% in October, faster than the 0.7% pace reported in October 2016. Loan balances are up 11.1% during the last 12 months. Credit unions now make up 11% of the overall consumer credit market, up from 10.5% one year ago.
  • Credit union memberships rose a modest 0.19% in October, up from a 0.12% gain reported in October 2016. October is historically the slowest month for membership growth. Memberships are up 4.4% during the past year due to robust demand for credit, solid job growth, and comparatively lower fees and loan interest rates versus banks.
  • Credit union capital-to-asset ratios remained at 10.8% in October, with very little variation reported over the last year. Credit union loan delinquency rates fell to 0.76% in October, down from 0.80% one year earlier due to a stronger economy and double digit loan growth.
For more information, view the complete report here . If you have problems accessing the information, or have additional questions about the research and information services provided by the Louisiana Credit Union League, please contact Theresa Fonseca at (800) 452-7221, ext. 3020, or [email protected].  

Professional Development

LCUL's January Education Lineup is Crazy Busy with Something for Everyone!
LCUL's Education Department is already off and running with many exciting programs awaiting in 2018. Be sure to check out the following events for which registration is already open:
 
Leadership Academy 
(January 24-25, Baton Rouge) 
This 2 day program is designed to sharpen your skills in Negotation, Mediation, Delegation, Communication, Motivation and so much more!
 
Compliance School 
 (February 21-22, Monroe)
Do you need an update on Operational Compliance Issues?  Could you use a refresher in Lending Compliance Topics?  Whether you need one or both,  we've got you covered.
 
Dues Subsidized: Life & Retirement Simulations 
(January 15, Baton Rouge) 
This unique training experience is one you will never forget and is priced economically so that you can train your entire staff!  Walk in the shoes and experience the lifestyle of a member in financial distress and of those trying to financially plan for retirement. This eye opening day is training not just for the mind, but for the heart! 

There's even an optional pre-conference session on Sunday afternoon for management teams to discuss sub- prime auto loans and member financial counseling efforts!
 
Dues Supported Session
 Did you get a chance to watch the complimentary 23 minute video of Ancin Cooley discussing a Fixed mindset vs. a Growth mIndset?  Uncover which one you and your credit union posses and learn how it might be inhibiting or enhancing your credit union growth.  This one is a great conversation starter for staff and volunteers alike.
Shared Branching

Louisiana's 
CU Cooperative Branching Pays Year-End Dividend to Shareholders
The Board of Directors of CU Cooperative Branching, LLC (CUCB), Louisiana's shared branching CUSO, has approved a 4.5% dividend payable to eligible shareholders as of January 1, 2017.

"CUCB member owners have made shared branching a viable and successful CUSO. Because of our cooperative spirit, CUCB has become an efficient network that has achieved great financial success, offering an incomparable service to members. The Board of Directors believes that the payment of this one-time cash dividend is appropriate and reflects our efforts to enhance our shareholders' investment in the network," comments Jeff Conrad, President/CEO of Pelican State CU and CUCB Chairman.

Since its inception in August of 1992, credit unions have recognized the value of shared branching. CU Cooperative Branching has grown into a network with more than 150 convenient locations throughout Louisiana and nearly 5,600 locations worldwide to service shared branching credit unions' members.
News from CUNA Mutual

CMG: Is Your Credit Union Prepared for These Emerging Risks?
For many credit unions, identifying, assessing, and mitigating risks can be a challenge, considering nearly every aspect of the business can pose a risk.

While some credit unions have a solid strategy for recognizing existing risk and anticipating emerging ones, others are less proactive in their pursuit of risk mitigation. Consider these three emerging risks that are becoming increasingly prominent for credit unions across the country:
  • Americans with Disabilities Act (ADA) & Website Compliance:
  • EMV Fuel Pump Liability Delay
  • Synthetic Identity Fraud
Tips on these risks can be found in the latest article from CUNA Mutual Group. Click here to read the full article.

For additional information about CUNA Mutual Group, contact LCUL's Steven Liberto.
Have You Heard?

Campus Federal Employees Raise Over $12,000 For Our Lady Of The Lake Children's Hospital
Following their mission of community service and 'people helping people', Campus Federal employees raised over $12,000 for Our Lady of the Lake Children's Hospital during 2017. Fundraisers included raffles, bake sales and employee events.
 
"Each month during 2017 employees thought of fun and creative ways to raise money. We even held a penny war one month. Our staff looks forward to our fundraising efforts and it becomes friendly competition among the departments to see who can raise the most," said Dawn Harris, President and CEO. "We really enjoy being able to give back and support our community and Our Lady of the Lake Children's Hospital."
 
"We are grateful for the amazing annual support from Campus Federal employees.  Because of their fundraising and volunteerism, we are one step closer to realizing our dream of our new children's hospital, which we are building to deliver world-class healthcare for kids across Louisiana," said Danny Fields, Our Lady of the Lake Children's Hospital's Director of Children's Miracle Network Fundraising. 
Quote of the Week:
"It's not what you achieve, it's what you overcome. That's what defines your career."
- Carlton Fisk
Educational Calendar
Upcoming Conferences & Seminars from your League:
January 14-15:
Dues Subsidized: NCUF Simulations Training
January 24-25:
Leadership Academy
February 25 - March 1:
CUNA GAC

Upcoming Teleconferences & Webinars from your League:

December 20: Preparation Plan for CDD Changes to Beneficial Ownership Rules
     
For a complete listing of educational opportunities available from LCUL, visit the League website and click on "Education".
  
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