Keeping you connected to key credit union news, events, and trends: April 25, 2018
In This Issue
Headline News

LCUL Helping Key Decision Makers Embrace FinTech Without Fear

Perception: "The idea of Fintech and tech talk is a threat of major proportions suited for IT-specific people. It is completely over my head, and pretty much terrifies me to even think about it..."

Reality: LCUL's Financial Technology & Innovation Conference is to do just the opposite: it's an opportunity to discuss technical topics and practical investments in a safe space without feeling overwhelmed.
 
Designed for your team of decision makers, board members, and future leaders, LCUL is excited to host upcoming Financial Technology & Innovations conference that provides relevant information at an approachable level. Based on the feedback from our credit unions, we made it our mission is to increase your awareness and knowledge so that you are armed with the information to ask the appropriate questions when determining what investments should or shouldn't be made.
 
There will also be a great peer-to-peer dialogue and sharing facilitated by LCUL business partners focused on technological and innovative solutions.  Together, we will uncover what's working for you and your members, what's not, and what are you interested in and/or looking at investing when moving forward.

Click here to get more information and for registration. 
 
Not buying the hype? This topic so relevant (to everyone) that SRCUS student Pegeen Singley with Centric FCU wrote a white paper and here was her feedback:
 
"The information about FinTech companies is abundant and overwhelming right now. It's becoming evident that no credit union, regardless of asset size or member base can afford to ignore. We spent hours needed to research and write this paper to learn one important thing: this information was going to touch every credit union, every employee, every executive team and every board member at some level. FinTech companies today offer everything from technology that touches our members to make accessing their data easier, to technology that offers software to make our jobs easier to serve our members and beyond. The technology landscape has changed significantly and therefore our focus as a credit union employee must change as well."
 
Credit Unions and Community Banks Agree-Pass S. 2155; Joint Letter to House Leaders

The Credit Union National Association (CUNA) and the Independent Community Bankers of America® (ICBA) in a joint letter to House Speaker Paul Ryan and Democratic Leader Nancy Pelosi and other House leadership requested timely floor consideration for the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155). 
 
Led by Banking Committee Chairman Mike Crapo, the bipartisan bill passed the Senate 67-31 in March. In today's letter, CUNA President and CEO Jim Nussle and ICBA President and CEO Camden R. Fine asked the House to take up and pass the bill because its provisions largely reflect House legislation. 
 
For the full letter, click here.  


Senate Finance Chairman Orrin Hatch (R-Utah)  sent a letter to IRS Acting Commissioner David Kautter asking whether some federal credit unions should file a Form 990 to provide additional information to the IRS. The letter followed a response missive (here) from NCUA Chairman Mark McWatters' to Hatch addressing the continued relevance of the credit union tax exemption.

Read the article at  CUNA News.

Pelican Politics

Credit Unions Meet with U.S. Representative and Credit Union Friend Clay Higgins
LCLU and credit union leaders gathered at Section 705 FCU for a meet and greet with Representative Clay Higgins on Monday, April 23. 

A long time member of Pelican State CU, Higgins is a strong supporter of the movement and what we represent. He has publicly advocated on our behalf since being elected in December 2016.

As we discussed budget, regulations, the omnibus bill and more, Higgins said he would be there to help credit unions should issues of importance arise.

Prior to joining Congress in 2017, Higgins is best known for his Crimestopper videos for the St. Landry Parish Sheriff's Office. The program was one of the most successful in the history of law enforcement. As a veteran and highly decorated law enforcement officer, Congressman Higgins protects and serves the people of Louisiana's Third Congressional District, home to more than 755,000 people and spans 9 parishes that cover nearly 7,000 square miles.

Professional Development

Professional Development Opportunities Available at All Levels
LCUL is excited to bring even more professional development opportunities for everyone at your credit union:
 

University of Lending 
June 12-14, Baton Rouge, LA

Take your lending program to the next level, while restoring enthusiasm & excitement to your lenders!  This nationally acclaimed program has helped hundreds of credit unions achieve dramatic improvements in their loan ratios, bottom lines & member service practices.
 
If the credit union industry is more than a job to you; if it's your career path into your future, this CUNA Management School for Southeastern States is for you.  Hurry, class is near maximum capacity.
 
Southwest Lending Conference
May 15-18, Galveston, TX
Looking for more training on business lending in particular?  This conference includes a special Member Business Lending Track featuring some of LA's top CU Business Lenders as guest breakout panelists.
 
Volunteers - Mark your Calendars!
  • Supervisory Committee Conference (with new added Director's track!) scheduled for June 24 - 26 in Lake Charles, LA
  • Southeast Regional Director's Conference set for July 15 - 18 in West Palm Beach, FL
Products & Services

Complacency is Comfortable, But the Results Can Be Costly
jmfa There are myriad reasons why organizations fall behind when it comes to updating their products or improving existing services. Regulatory uncertainty, budgetary constraints, insufficient staffing, technology concerns, outdated business philosophies and a fear of the unknown are reasons I often hear from credit union leaders who aren't satisfied with their existing performance, but who are hesitant to revisit their overdraft program strategy to increase revenue and improve member service.   

But maintaining the status quo in an increasingly competitive industry can have far-reaching consequences. And the results may not only negatively impact the credit union's performance, but also prove detrimental to its workforce and the level of service provided to members.

Click here to continue reading. 
Have you Heard?

St. Tammany FCU Launches CU Crew Youth Account Program
St. Tammany FCU has launched an innovative new youth program aimed at children from birth to age 22,  emphasizing increasing levels of account features as the children grow and become more financially responsible.

The new program, CU Crew, is designed to foster a sense of financial independence among the young savings and checking account holders, increasing that independence as they get older.

 CU Crew Youth Accounts are offered in four tiers - Pioneer, for children up to age 9; Explorer, for children 10 to 14; Voyager, for children 15 to 17, and Navigator, for young adults from 18 to 22. The account holders are automatically moved up to the next tier on the appropriate birthday.

 St Tammany Federal Credit Union's CU Crew Youth Accounts confers more independence and responsibility on the children as they move up through the age tiers. Each offers unique rewards programs such as CU Make Cents (deposit rewards), CU Earn It (extracurricular activity & volunteer service rewards), CU Make the Grade (report card rewards), CU Super Savers (savings rewards), CU Succeed (financial literacy), We CU Rollin' (first time auto buyer rewards), and CU Adventures (e-Newsletter).

UNOFCU Krewe Parades in St. Bernard Parish
UNOFCU's Krewe celebrated St. Bernard Parish's unique heritages in the St. Bernard Irish, Italian & Islenos parade on Sunday, April 15 with throws of cabbage, carrots, onions, lemons, potatoes, beads, and the official parade cup sponsored by UNO FCU. This year's float theme was "Join the UNOFCU Krewe - We treat out members like royalty!" Credit union staff, board members and friends enjoyed a picture-perfect day rolling in Chalmette, home of their St. Bernard Parish branch, along the other 1,500+ members throwing nearly 350,000 pounds of produce.
 
"We've been in Chalmette for over one year now and are so pleased with the welcome that St. Bernard as extended to us," says UNOFCU CEO Chris Maurer. "Our participation in this annual event is anticipated throughout the year and an excellent opportunity to celebrate this vibrant community."


Quote of the Week:
"Don't be distracted by criticism. Remember, the only taste of success some people get is to take a bite out of you."
-- Zig Ziglar
Educational Calendar
Upcoming Conferences & Seminars from your League:

April 27-28: Young Professionals Workshop
May 2: Supplemental Training Opportunity
May 9-10: Financial Technologies Conference

Upcoming Teleconferences & Webinars from your League:

April 26: Denied Loan Requirements: Consumer, Commercial & Real Estate
May 1: Handling Powers-of-Attorney & Living Trust Documents
May 2: Understanding & Using Global Cash Flow in Underwriting Consumer Loans
May 3: Finance Charges: Getting It Right!
May 8: Analyzing TRID Tolerance Cures: Clarifying the Confusion
May 9: All You Need to Know About E-SIGN, E-Statements & E-Disclosures
May 10: Opening Business Accounts
May 15: Current IRA Issues
May 16: FFIEC Third-Party Risk Guidance
May 17: Top Escrow Compliance Exam Issues, FAQs & Field Audits
May 22: ACH Error Resolution
May 23: Real Estate Loan Workouts, Deeds in Lieu, Short Sales, Foreclosures
May 24: Consumer Loan Documentation
May 30: Increasing Fee Income Without Raising Fees
May 31: Job-Specific Compliance Training for Lenders
 
For a complete listing of educational opportunities available from LCUL, visit the League website and click on "Education".
  
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