Keeping you connected to key credit union news, events, and trends: September 27, 2017
In This Issue
Headline News

Enrollment is Officially Open for Louisiana's Prize-Linked Savings Account
With much excitement and anticipation, LCUL is excited to open enrollment for the Lucky Lagniappe Savings Account, Louisiana's prize-linked savings product. Enrollment will opens today through November 1. Be part of the inaugural group that improves money habits in a whole new way that actually makes saving FUN. Members will feel rewarded by watching their savings grow AND experience the excitement of the prize drawings!

Visit the League's website to download the product profile, which provides product description, benefits, features, prize pool, and investments. Credit unions can also access League hosted an overview webinar last Thursday to introduce credit unions to the Louisiana-specific product. 

From enrollment to operations,  Angela Melle, LCUL's Strategic Services Manager, will serve as project manager for the Lucky Lagniappe Savings Account. Please do not hesitate to contact Angela should you have any questions.

Lucky Lagniappe Discount!

Be one the first five credit unions to submit a signed contract to receive a special $150 discount off the program fee. Simply email Angela Melle requesting a customized contract, sign the paperwork, and send it back. That's it!

CU Lunch Local: Giving Back Has Never Been So Easy
Let's Work Together to Increase CU Awareness and Give Back to Local Businesses!

Participate in our 6th Annual CU Lunch Local event and support local businesses in our community during the week of October 16-20. 

LCUL provides everything you need to get in on the action. All we need is your participation (which is super easy)...
 
  • Decide who your team leader will be and complete the sign up form!
  • Once you sign up, your team leader will receive an electronic participation packet with all the materials you need to make your CU Lunch Local a success!
  • Use the materials to get the word out to your staff and encourage them to participate.
  • Toot your own horn by letting your members, local businesses and your communities know about your participation!
Since LCUL launched CU Lunch Local in 2013, Louisiana credit unions have given back more than $74,000 to local businesses. This is certainly something to brag about, but lets make it even more. 

Click here for more information on CU Lunch Local.
Make Plans Now to Attend CUNA GAC
More than 5,000 credit union professionals will gather in Washington, D.C., in 2018 for the foremost credit union event of the year: the  2018 CUNA Governmental Affairs Conference , set for Feb. 25 - March 1.

 As the largest credit union event in the industry, CUNA GAC unites thousands of credit union advocates in Washington to fight for credit union priorities, including regulatory relief, expanded credit union powers, the credit union tax status and data security.
CUNA GAC allows you to network with nationwide credit union luminaries, gain expertise in compliance and advocacy issues, and experience the largest vendor exhibit hall in the financial services industry.
October is Cyber Security Awareness Month
During October, LCUL will observe National Cyber Security Awareness month to draw attention to the many ways a stable, safe, and resilient cyberspace affects our daily life and economic vitality in the public and private sectors, especially credit unions. 

National Cyber Security Awareness Month is observed each October since its inception in 2004 in the U.S. Cyber Security Awareness Month encourages vigilance and protection by all computer users.

We want to remind you about the Stop the Data Breaches campaign site, where you can learn more about how we can work to prevent future data breaches and press members of our congressional delegations for a legislative solution. Consumers must have the ability to know if they have been compromised and have the tools to protect themselves.
Professional Development

IRA Update with Debbie Crawford Set for October 24 
IRA's are our member's investment in their future. It's their family's nest egg and they are entrusting it to us. Therefore, let's make sure you are up to date on the latest products and procedural changes. 

Are you fairly well versed in the basics of IRA's but in need of an refresher course and product update? This year, based on your feedback, we are approaching the IRA training a bit differently than in years past which has typically devoted a full day to Basics and a full day to Advanced information.    

Debbie Crawford of GetTechnical, inc, a perennial favorite presenter of LCUL attendees, is instead conducting this one day session that does assume some prior IRA knowledge.  If you are a bit rusty on IRA's fear not, the program will include enough basics to put you on solid footing before jumping into changes and product updates and a full range of slightly advanced topics. 

LCUL is pleased to collaborate with the Mississippi Credit Union Association, who is hosting this program in Jackson, MS. Topics include:
  • Product update and review of changes
  • Premature distributions
  • Exceptions to the 10% penalty
  • Annuity Distributions
  • Tax levies on IRAs
  • Transfers and rollovers after 70 1/2
  • 70 1/2 calculations & issues
  • Waivers
  • Charitable contributions
  • Death distributions
  • Primary vs. contingent beneficiaries
  • Revocations
  • Compliance, auditing and reporting
  • and more!
     
New from CUNA Mutual

GMG: GAP Claims Rise, What to Watch For
Guaranteed Asset Protection (GAP) provides valuable protection for credit union members by allowing them to cancel the difference between an insurance settlement and their loan balance if their vehicle is stolen or totaled in an accident.However, a "perfect storm" of economic factors and auto trends has converged, increasing the number of total loss declarations filed and pushing GAP claims to record highs.

Click here to continue reading.    
YPN 

LCUL's YPN Meet-Up in Monroe
Members of the Monroe Chapter of the Young Professionals Network (YPN) attended a lunch meet-up on Tuesday, September 26 at The Fieldhouse in Monroe, LA
"The conversations and networking opportunities that come with YPN are so beneficial," commented April Jo Wadkins, Member Service Rep fro Kraftman FCU and YPN Steering Committee Member. 
Condolences 

Passing of Vahid Parvazi
Vahid G. Parvazi, devoted husband of Gay Busalacchi Parvazi, departed this life on Sunday, September 10, 2017, at the age of 60. Vahid is survived by his cherished wife Gay (UNOFCU); beloved son, Armand (Xplore FCU); and father-in-law and dear friend, Guy.
 
Vahid graduated from Tulane University in 1980 and began his 24-year commitment to the credit union industry with Louisiana Corporate Credit Union where he served as Chief Operating Officer, followed by Southwest Corporate FCU as Vice President of Sales (now Catalyst Corporate FCU). In 2008, he dedicated his energies to his passion, the construction and restoration of homes in St. Bernard Parish, and most recently joined his wife in their shared venture with Old Arabi Marketplace.
 
A Celebration of Life gathering will be held Saturday, September 30, 2017, from 2-5 PM in the UNO Alumni Center Ballroom located on UNO's campus at 2000 Lakeshore Drive.
 
Donations may be made to: MD Anderson Cancer Center https://www.mdanderson.org/donors-volunteers/donate.html/ 

Have You Heard?

Post Office Employees CU Holds a Supplies Drive for Hurricane Harvey Relief
In response to Hurricane Harvey, Post Office Employees CU (POECU) hosted a supplies drive to donate to Second Harvest's relief efforts. For three weeks, POECU members and staff donated to the drive. Among the items collected were water, diapers, nonperishable food, cleaning supplies, and toiletries.

On September 19th, POECU President Sydney Parfait, Executive Vice President Joe Battaglia, and Marketing Specialist Rachel Morris dropped off the supplies at Second Harvest. The donations filled up three pallets. We are so grateful to have such generous staff and members who donated to the supplies drive.
Neighbors FCU Sponsoring "Pat's Coats for Kids" for the 9th Year
Neighbors Federal Credit Union is partnering with Pat Shingleton and WBRZ for the 9th time as a sponsor for "Pat's Coat for Kids." The 2017 campaign will take place October 28th-November 22nd.

 In addition to sponsoring the campaign, Neighbors will collect coats at any one of our nine full-operation branches during the campaign dates. Neighbors will also participate in Pack the POD day (Date TBD) and Distribution Day, December 8th.

 In 2016, this event collected more than 237,500 coats and $91,489 for children in need.

 "Pat's Coat for Kids is an incredible charity event," Neighbors President and CEO Steve Webb said. "As a credit union we're here for you, so Neighbors is always looking for a way to give back to the community. Since we opened our doors in 1954, family, charity and caring for the community have been cornerstone values of our credit union. Pat's Coats for Kids embodies of all of these values."
Quote of the Week:
"Happy people plan actions, they don't plan results."
- Denis Waitley 
Educational Calendar
Upcoming Conferences & Seminars from your League:    

October 3-4:  LA/MS Marketing & Business Development Workshop
November 8-9: Underwriting & Collections: Understanding the Roles and the Importance of their Relationship
 
Upcoming Teleconferences & Webinars from your League

September 28: Record Retention & Destruction Rules: Compliance & Best Practices
October 2: Preparing for Reg CC Rule Changes Part 2: Operations Systems, Audit & Reporting Implications
October 3: Surviving a TRID Compliance Exam
October 4: Countdown to the New HMDA Rules Effective January 1, 2018
October 5: Keys to Effective Employee Recruitment, Onboarding & Retention
October 11: Proper Repossession, Notice & Sale of Non-Real Estate Collateral
October 12: Real Estate Series: ARM & Balloon Payments: Clarifying the Confusion
October 16: Planning & Compliance Considerations for the New Fannie Mae & Freddie Mac Uniform Residential Loan Application
October 17: The Only Guide to Understanding Share Insurance You'll Ever Need
October 18: Beyond EMV: Trends in Payments & What It Means for CUs
October 19: Financial Literacy for Directors Part 2: How to Interpret Key Ratios & Financial Statements
October 24: All About 1099 Reporting Part 1: Forms 1099-A & 1099-C: Foreclosures, Repossessions & Debt Settlements
October 25: Risk Management Series: Establishing or Maturing Your Vendor Risk Management Program
October 26: BSA Compliance Series: Job-Specific BSA Training for the Frontline: CTRs, SARs, CIP & More
October 30: Preparing for the Impact of New Prepaid Card Rules Under Reg E
October 31: CECL Loss Estimation Methodologies
     
For a complete listing of educational opportunities available from LCUL, visit the League website and click on "Education".
  
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(800) 452-7221   www.lcul.com