Keeping you connected to key credit union news, events, and trends: November 1, 2017
In This Issue
Headline News

Today is the Last Day to Enroll in Lucky Lagniappe!
Today is the last day to enroll in the in the Lucky Lagniappe Savings Account program! With much excitement and anticipation, we encourage credit unions to be part of the inaugural group that improves money habits in a new way while making saving FUN.

Don't delay: Credit unions interested in participating in the January 1 launch must register as a participant by November 1. The next open enrollment will be mid-year in 2018.
 
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 an overview webinar to introduce credit unions to the Louisiana-specific product. 

CUAnalyzer is for More Than Just CEOs and CFOs
Did you know CUAnalyzer has eight pre-built packets of expertly selected data for different departments and roles within your credit union?

Explore the folder called "Roles" and find pre-selected packets for the board, executive office, finance, marketing, lending, HR, mortgage lending, and collections.

Share the data with your colleagues via email or set up additional users. If you need assistance, contact Callahan & Associates. For more information about CUAnalyzer, contact a member of the League's CU Support team.
October 2017 Credit Union Trends Report Now Available
CUNA Mutual Group's Credit Union Trends Report for October 2017 is now available online and can be accessed in the Compliance & Research section of our website, under the heading Research & Information.

During August, credit unions picked up 543,000 in new memberships, loan balances grew at a 10.1% seasonally adjusted annualized pace, savings balances rose at a 5.9% annualized rate, firms laid off 33,000 workers, nominal consumer spending rose 0.1%, and long-term interest rates fell 11 basis points. 

Additional highlights of this month's report include:
  • At the end of August, CUNA's monthly estimates reported 5,870 CUs in operation, down 23 credit unions from one month earlier. Year-over-year, the number of credit unions declined by 231, less than the 257 lost in the 12 months ending in August 2016.
  • Total credit union assets rose 0.2% in August due to a 0.1% increase in savings, a 1.1% increase in capital and a 1.5% increase in borrowings. Assets rose 6.2% during the past year due to a 6.9% increase in deposits and a 6.5% increase in capital; borrowing fell 9.7%.
  • The nation's credit unions increased their loan portfolios by 1.1% in August, exactly the same pace reported in August 2016. Loan balances rose 10.8% during the last 12 months. August is historically the second fastest loan growth month due to seasonal factors, such as car purchases and vacation spending.
  • Credit union memberships rose a robust 0.48% in August, up from a 0.45% gain reported in August 2016. This is the fastest growth rate since May 2003, during the last credit boom. Memberships are up 4.7% during the past year due to robust demand for credit, solid job growth and comparatively lower fees and loan rates.
  • Credit union capital-to-asset ratios was 10.8% in August, the same as reported one year ago. Credit union loan delinquency rates fell to 0.75% in August, down from 0.77% one year earlier due to a stronger economy and double-digit loan growth. Expect both credit unions and banks to loosen credit standards in 2018 as job growth continues and wages rise. 
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 [email protected].  

CUs Reminded to Update Information on A Smarter Choice Website
The Credit Union Locator tool on the  A Smarter Choice website helps consumers find credit unions that they are eligible to join. Louisiana credit unions are encouraged to maintain up-to-date information about branch locations and fields of membership on the website.

To check and update information, visit the asmarterchoice.org. Once logged in, users can access the CU Administrator database and change, add or delete information.
Just for Fun: 3 Ways You're Sabotaging Your Own Success
When it comes to reaching our career goals, we can often be our own worst enemy. We can blame others for standing in the way, but the truth is many of our own common habits are preventing us from reaching our objectives. Consider these three ways you are sabotaging your own success.

Click here to continue reading. 
YPN

YPN Members Across Louisiana Read to 800+ Children for ICU Day: Checkout the Video!
The Louisiana Young Professional Network (YPN) members in chapters across the state joined forces to make a large impact on our state's youth this International Credit Union (ICU) Day! 
 
YPN members used the week of ICU Day to get engaged with and educate our state's youth on spending, saving and sharing money. They read and distributed copies of The Berenstain Bears' Trouble with Money to students across Louisiana in schools and at libraries! The books were purchased with funds raised by YPN, and they had ICU Day stickers inside to spread the word about the credit union movement even farther when they took the book home to show their parents.
 
Thank you to all YPN members who participated, and thank you to all of the credit unions who donated their team members' time to join in the festivities!
 
Click here to watch a slideshow of all pictures from the event.
Have You Heard?

Leininger Elected to Federation's Board of Directors
Shasta Leininger, Chief Development Officer for New Orleans Firemen's FCU (NOFFCU), was recently elected to the National Federation of Community Development Credit Unions Board of Directors.

The Federation's mission is to help low- and moderate-income people and communities achieve financial independence through credit unions.The Board of Directors is made up of staff members or volunteer officials of their credit unions and is responsible for ensuring that the Federation remains accountable to the grassroots institutions that make up our membership. 

With over ten years of experience in the credit union industry, Shasta currently oversees marketing, business development, financial counseling, community development and the call center at NOFFCU.  Shasta understands the vital role of the National Federation of Community Development Credit Unions. She has been working closely with the Federation on the Pathways to Financial Empowerment Program since 2015 as a participant and an advocate for the beta project.



Quote of the Week:
" Opportunity is missed by most people because it is dressed in overalls and looks like work." 
- Thomas A Edison 
Educational Calendar
Upcoming Conferences & Seminars from your League:    

November 8-9: Underwriting & Collections: Understanding the Roles and the Importance of their Relationship
 
Upcoming Teleconferences & Webinars from your League

November 2: Cost-Effective Strategies to Enforce Creditor Rights in Consumer Bankruptcies
November 7: CFPB's TRID Amendments: Understanding the Clarifications & New Expectations
November 9: Regulation E Series: Auditing for Regulation E Compliance
November 13: HMDA-LAR Changes Part 1: Procedures & Tools for Capturing the New Data Fields
November 15: ACH Specialist Series: Federal Government ACH Payments: Reclamations & Garnishments
November 16: Director Series: Required Compliance for the Board & Senior Management
November 28: Avoiding Employee Job Misclassification Issues: Getting It Right!
November 29: OFAC Sanctions Compliance: Update, Expectations & Best Practices
November 30: Robbery Preparedness for All Staff
December 4: HMDA-LAR Changes Part 2: Completing New Fields with No Predefined Codes
December 5: Conducting a Collections Risk Assessment
December 6: BSA Compliance Series: Job-Specific BSA Compliance for Lender
December 7: New Security Officer Training: Responsibilities, Best Practices & Skill-Building Tools
December 11: Critical HMDA Issues for HELOC Applications & Coverage Changes for Commercial Lenders
December 12: All About 1099 Reporting Part 2: Forms 1099-INT & 1099-MISC
December 13: Risk Management Series: ACH Risk Management & Assessment: Risks, Controls & Ratings
December 14: Real Estate Series: Mortgage Loan Disclosure Timing Issues
December 19: The ALLL with TDRs & Foreclosed Assets
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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