Keeping you connected to key credit union news, events, and trends: January 18, 2017
In This Issue
Headline News

Register Today for LCUL's Regulatory Compliance School!
Debbie Crawford and Susan Costonis will teach this program on Feb 7th and 8th in Baton Rouge where they will guide us through the minefield of federal rules regarding both loans and share accounts.  They will cover everything from the fundamentals you should already know,  to the updates you might not be aware of, and preview the regulatory changes coming your way!     
 
To learn more about this program and to register, please click here.

Day One: Lending Module
The past few years have brought significant changes to lending compliance at credit unions. We will review existing regulations for 2017 and preview some 2018 changes.  What you will learn:
  • Application Basics
  • Requirements for processing a loan request
  • The Reg B requirements
  • Regulation triggers
  • Adverse action notice requirements
  • Evaluating applications
  • Fair Lending Considerations & NCUA Guidance
  • FCRA (Fair Credit Reporting Act) requirements
  • Reg Z (Truth in Lending) Basics
  • HMDA Overview & Preview of new rules for 2018
Day Two: Share Module
 It's a fast paced regulatory environment with many changes coming quickly. Let's review many of the share account federal issues and review examination hot spots for 2017 and beyond.  What you will learn:

  • New Prepaid Card Rules for Regulation E
  • Product restrictions for Regulation D
  • Regulation CC Holds and Disclosures
  • TISA review and hot spots for the examiners
  • New Customer Due Diligence Rules
  • Proposed/New CTR Changes
  • Overdraft privilege do's and don'ts
  • Look at fines and penalties from sanctions
  • Third party vendor management
  • If you are unable to join us for both days, these modules can also be booked independently.  
Click here for more information.

 
First Edition of President's Perspective Distributed to CUs
Last week, we distributed the first issue of President's Perspectives,  a message from LCUL's President/CEO sent periodically to keep you updated on League strategies and initiatives. In this issue, Anne Cochran discusses the recent membership survey results as well as new initiatives for the first half of 2017. 

The latest issue can be found out the League website under 'publications' in the Members Resources section.


NCUA to Host Webinar on New FOM Rule February 1
NCUA The NCUA will host a webinar on its upcoming field-of-membership (FOM) rule Feb. 1, five days before the rule becomes effective on Feb. 6. The NCUA finalized its FOM rule and proposed another at its October board meeting.
The free webinar is scheduled to begin at 1 p.m. (CT). The NCUA has also posted the  text of the rule, as well as a  comparison chart detailing the changes from the previous rule.

  Registration is now open.
Check That Your Products & Services Haven't Passed the Expiration Date

One of the toughest parts of strategy is letting go when it is time to quit something.  It may be harder for us as credit union employees than those in other industries to let go. Let's be honest, we work for credit unions because we care about individuals. We are an industry based on caring for people before profit.  

Before we consider implementing a no coin deposit policy because we don't have a coin counter, we actually picture the sweet eighty year old woman who brings in her jar of coins that we faithfully count out for her.  It is a good thing that the individual matters so much to us as credit unions. But maybe it also prevents us from implementing some things we should be doing and stopping some things we shouldn't be doing. Perhaps it is time to figure out some way to meet the needs of our one older member who brings in her coins, while implementing the new policy across the credit union at the same time.

Professional Development

Registration Now Open for 2017 Southeast CUNA Management School
Registration for the 2017 session of the Southeast CUNA Management School, the premier learning opportunity for credit union professionals in the southeast, is now open. The school is being held from Friday, June 9 to Friday, June 16, 2017 at the University of Georgia Hotel & Conference Center, 1197 South Lumpkin Street, Athens, GA. 

Click here for more information.


Louisiana Attendees at 2016 SRCUS Management School

Have You Heard?

Parafit Appointed to CULAC Trustee Board for 2017-18

sidneyThe 2016 Credit Union Legislative Action Council (CULAC) Executive Committee met for the final time this week, confirming nominees for the 2017-18 class of CULAC trustees. CULAC is the political action committee of CUNA, and raised nearly $5.1 million in the 2016 election cycle, a record. CULAC saw a 97% success rate in the 364 races in which it endorsed a candidate in the 2016 election.

Sidney Parfait, President/CEO of Post Office ECU, will was once again represent Louisiana. Under Parfait's guidance and leadership, Louisiana's CULAC program has transformed to one of the top in the nation, winning numerous awards each year for top dollar raised and highest percentage.

The Board of Trustees is made up of one Trustee from each state and DC, nominated by their respective leagues. Trustees serve 2 year terms, with terms staggered so that half are re-nominated each year.
The board of trustees annual meeting will take place during CUNA Governmental Affairs Conference February 26.
Pelican State CU Doubles Scholarship Awards
With the recent cuts to the TOPS program, many parents and students are wondering how they will cover increased college expenses. Pelican State Credit Union is doubling each of its scholarship awards from $500 to $1,000 this year to help.

This year, Pelican will grant a scholarship award to nine college-bound Pelican members in each of its branch parishes across the state of Louisiana. A volunteer committee made up of Pelican employees score the scholarship applications based on academic achievement, extracurricular activities, leadership, community service and letters of recommendation. 

"Pelican is committed to serving its branch communities, and our scholarship award program supports credit union members graduating high school who exhibit the same commitment," explained Pelican CEO Jeffrey K. Conrad.

$1,000 can go a long way for college expenses. Pelican scholarship awards can be used to cover tuition, textbooks, meal plans and much more.
Quote of the Week:
"In the long history of humankind those who learned to collaborate and improvise most effectively have prevailed."

- Charles Darwin

Educational Calendar
Upcoming Conferences & Seminars from your League:    

January 25-26:
  Lending School with Pierre Cardenas
February 7-8: Regulatory Compliance School 2017
 
Upcoming Teleconferences & Webinars from your League

January 19: ACH Specialist Series: Direct Deposit Tax Refunds: Posting & Exceptions
January 23: Part 1 - New FFIEC Consumer Compliance Rating System, Effective March 31, 2017: Oversight & Compliance Management Program
January 24: Same Day ACH: Lessons Learned & FAQs for RDFIs
January 25: IRA & HSA Review & Update, Including New Fiduciary Rule Implications
January 26: Procedural & Compliance Responsibilities of the Board Secretary
January 31: Auditing Call Reports
February 1: Developing & Managing a Consumer Complaint Program - Avoiding Reputational Damage
February 6: The New World of Debt Collection: What Recent CFPB Actions Indicate About the Future of Regulations & Enforcement
February 7: Regulation E Series: Handling Provisional Credit Under Reg E: Rules, Best Practices & FAQs
February 8: Real Estate Series: Understanding TRID Tolerance Cures
February 13: Part 2 - New FFIEC Consumer Compliance Rating System, Effective
February 14: Military Lending Act: Exam Procedure Changes, Post-Implementation Considerations & FAQs
February 16: BSA Compliance Series: FinCEN's CDD Rules & BSA Compliance: Why Preparing Now for the Fifth Pillar is Critical
February 21: Risk Management Series: Developing an Enterprise-Wide Risk Assessment
February 22: Flood Compliance in Lending Part 1: Loan Origination
February 23: Collection Law Essentials: Legalities, Landmines & More
February 27: Everything You Need to Know About Regulation CC: Holds, Funds Availability, Compliance & More
February 28: Imaged Documents: What to Keep, What to Destroy, What Holds Up in Court?
     
For a complete listing of educational opportunities available from LCUL, visit the League website and click on "Education".
  
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