Keeping you connected to key credit union news, events, and trends: January 31, 2018
In This Issue
Headline News

ADA Update for Louisiana CUs
As the number of Louisiana credit unions impacted by litigation threats regarding ADA website access continues to rise, your League has been working closely with Kudulis, Reisinger, and Price Law Firm on multiple aggressive strategies to support and protect Louisiana's credit unions. 

We will provide an update within the next few days on the progress we've made. Until then, we encourage credit unions to visit the ADA resource page on the League's website.
CUNA's Nussle on SOTU: Reg Relief a Priority for Administration
CUNA President/CEO Jim Nussle said CUNA is pleased President Donald Trump address the need for regulatory relief in Tuesday's State of the Union. Regulatory relief is a key pillar of CUNA's 2018 advocacy agenda and the center of CUNA's Campaign for Common-Sense Regulation.

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January 2018 CU Trends Report Now Available
financial trends CUNA Mutual Group's Credit Union Trends Report for January 2018 is now available online and can be accessed in the Compliance & Research section of our website, under the heading Research & Information. 

During November, credit unions picked-up 417,000 in new memberships, loan balances grew at a 9.6% seasonally-adjusted annualized pace, while savings balances grew 7.1%. Firms hired 148,000 workers, nominal consumer spending increased 0.6% and long-term interest rates decreased 1 basis point. Third quarter economic growth was revised up to 3.2% and rose 2.3% over the last year.
 
Additional highlights of this month's report include:
 
  • At the end of November, CUNA's monthly estimates reported 5,806 CUs in operation, 9 fewer from one month earlier. Year-over-year, the number of credit unions declined by 248, more than the 221 lost in the 12 months ending in November 2016.
  • Total credit union assets rose 0.5% in November, above the 0.3% rise reported in November of 2016. Assets rose 6.4% during the past year due to a 6.7% increase in deposits, and a 7.2% increase in capital.
  • The nation's credit unions increased their loan portfolios by 0.9% in November, greater than the 0.8% pace reported in November 2016. Loan balances are up 10.7% during the last 12 months. With loan balances growing faster than assets during the last year, the credit union average loan-to-asset ratio reached 69.9%, up from 67.2% in November 2016.
  • Credit union memberships rose 0.37% in November, up from a 0.23% gain reported in November 2016. Memberships are up 4.6% during the past year due to robust demand for indirect auto credit, solid job growth and comparatively lower fees and loan interest rates versus banks.
 
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, please contact Theresa Fonseca at (800) 452-7221, ext. 3020, or [email protected].  
Professional Development

LCUL's Professional Development Coming to a City Near You
LCUL's education department has a full slate of programming in store for you and we're bringing them to a region near you. Make sure you don't miss our upcoming programs. Click on each for even more details!
 
Compliance School (Monroe)
February 21 - 22                      
Come get in-the-know in Monroe!  Compliance is the one subject that just simply isn't optional.  Don't you wish someone would break it all down into plain English?  Well, Ty Parker is doing just that with EFAA, Reg CC, Reg D and more! Plus let's talk about changes involving Overdrafts and Remote Deposit Capture rules.  On our second day,  Ed Reisinger will make sure you're up to date on Fair Lending, MLA, Bankruptcy for Lenders and so much more!
 
Member Service with WOW! (Lafayette)
March 22                           
You don't want to miss Rory Rowland's recipe for adding a little WOW factor to your team's Member Service.  Discover how to exude a ready-to-help attitude and build trust with your members.  This program will help develop a member focused culture at your credit union.
 
Share Accounts Basics (Shreveport)
March 27                            
Opening & Handling our member's Share Accounts is the vital core of every credit union.  Debbie Crawford covers Account Titling, Ownership and Signatories in this one day program.  This is where you'll get all your Account Card Do's and Don'ts in one place!
 
Share Accounts Advanced (Lake Charles)
April 18                            
If you need to know more than just the basics of Account Ownership and have 3 or more years of experience, this course is for you!  Debbie Crawford will cover changes in ownership, customer due diligence and business accounts to name just a few of the topics in this advanced course.    

Transaction Talk

Transaction Talk: 2018 Reg Z Penalty Fees
Credit unions typically incorporate minimal fees, deriving most of their non-interest income from interchange on credit and debit portfolios. As the income from interchange declines, some credit unions look to fees to replace that revenue. What fees can be charged is, in part, limited by "Reg Z".

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Have You Heard?

Neighbors FCU Opens Up Financial Literacy Center at Denham Springs High School
Neighbors Financial Literacy Center at Denham Springs High School opens today, January 31. This location will serve as an opportunity for Neighbors to help enrich the financial education of DSHS students.

 The facility will be equipped with an iPad, an iPhone, two computers and a touchscreen monitor. This equipment will allow students to access Neighbors Financial Literacy content and online banking.  Neighbors will implement a hands-on approach to incentivize students to learn and apply financial concepts.

This facility is part of the Neighbors Mascot Program. The Mascot Program provides specialized checking accounts to participating schools in the Greater Baton Rouge area and gives money back to the school for each debit card swipe. In addition to the financial contributions, Neighbors provides Financial Literacy courses at each school.

 "We have enjoyed a great relationship with Neighbors Federal Credit Union for some time through their promotion of their Mascot Debit Card which features our Yellow Jacket logo." DSHS Principal Kelly Jones said. "We are extremely excited to expand that relationship with the opening of the Financial Literacy Center on our campus."
"The facility will provide a resource to educate our students on financial responsibility which is a necessity as these students move on to their life after high school."

Neighbors Vice President of Sales and Service Brandi Cummins will oversee the facility in conjunction with a DSHS faculty member.

 "We are thrilled to open up our Financial Literacy Center at Denham Springs High School," Neighbors President/CEO Steve Webb said. "This facility will help establish a foundation of financial knowledge in these students as they prepare to build the world of tomorrow."

Wymar FCU Pays Bonus Dividend
Wymar FCU recently declared a special $200,000 Bonus Dividend for its members.  "2017 was an outstanding year for Wymar FCU thanks to our loyal membership and hardworking staff" said CEO Ronnie Stephens.  The dividend was calculated on a combination of interest earned and interest paid by each member to reward both borrowers and savers.

Stephens said "We wish we could do this every year but that's not always feasible.  However, when we have a year that far exceeds expectations, it is only right to give back to our member/owners".
Members received a letter with a sample check showing how much they had earned and the dividends were posted to member accounts in January.
Quote of the Week:
"The way your employees feel is the way your customers will feel. And if your employees don't feel valued, neither will your customers." 
- Sybil F. Stershic
 
Educational Calendar
Upcoming Conferences & Seminars from your League:
February 25 - March 1:
CUNA GAC
March 22:  Member Service with WOW

Upcoming Teleconferences & Webinars from your League:

Feb. 1: Exercising the Right of Setoff on Deposit Accounts & Loans
Feb. 6: Fair Lending Challenges for HMDA Data Rule Change
Feb. 7: Emerging IT Technologies 2018: What Are They & Do They Matter?
Feb. 8: Simplifying the Compliance Function: Tools & Checklists to Keep You on Track
Feb. 13: Countdown to New Reg E Prepaid Card Rules Effective April 1, 2018
Feb. 14: Preparing for the New Mortgage Servicing Rules: Effective April 19, 2018
Feb. 15: Directors' Role & Responsibilities When a Data Breach Occurs
Feb. 21: Security Officer Reports to the Board: What is Required?
Feb. 22: Opening Consumer Accounts: Regulations, CDD & Documentation
Feb. 27: Understanding Personal Tax Returns Part 2: Schedules E & F
Feb. 28: CECL Rule Overview: Preparation, Planning & Data Collection
     
For a complete listing of educational opportunities available from LCUL, visit the League website and click on "Education".
  
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