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

League President Travels the State to Discuss CU Climate in Louisiana
Anne Cochran, LCUL President & CEO, is spending this week in southwest Louisiana engaging in conversation with credit union leaders at CEO Dialogue Luncheons. Cochran is taking this opportunity to discuss the current climate of the credit union movement on a local and national level. Topics include interdependence, proposed bylaw changes, and new products/services.

"The movement is facing a number of changes, causing both challenges and opportunities for our credit unions. These informal meetings allow the League to learn and understand what really matters to our credit unions. Sure, we can send a quick email or pick up the phone, but it's the one on one interaction that strengthens our partnership. The conversations thus far have been very engaging and extremely beneficial," commented Cochran.

 Cochran visited with credit unions in Lake Charles and Lafayette earlier this week. Shreveport, Monroe, and Alexandria meetings took place last week with Baton Rouge and New Orleans taking place in the upcoming weeks.
NCUA Region III/Leagues Hold Dialogue Meeting
Last week, Region III League executives accepted NCUA Region III Director Myra Toeppe's invitation to participate in a dialogue with key staff about current regulatory and examination issues.  This article is the first in a series highlighting key areas of importance to Louisiana credit unions:

State of the Region Update (September 2016 Data)


*annualized


Cybersecurity Assessment is a key supervisory focus for 2017
  • All exams, regardless of asset size, will include a review of data security
  • Reviews will vary based on asset size and the complexity of each institution
  • NCUA is developing a structured assessment process to standardize their review, and this should be rolled out by the end of 2017
  • CU's of all sizes should review their compliance with Gramm-Leach-Bliley (Privacy) Act
  • CU's with assets exceeding $50M will have a risk-focused exam to include FFIEC e-banking authentication guidance and payment systems operations (mobile payments, P2P, remote deposit capture, ATM/debit/credit cards, and compliance with NACHA and Federal Reserve Bank rules)
  • CU's with assets under $30M will have a smaller scope exam unless material concerns are identified
  • CU's with assets between $30M and $50M exam process will vary based on the complexity of the CU
  • CU's should consider areas such as patches and having a standard approach to patch management
  • You can prepare for a cybersecurity review by referencing NCUA questionnaires, which are designed to give CU's a step by step review of their operations and include comments which indicate the steps CU's should be taking to ensure sound internal controls
  • NCUA's website has cybersecurity resources to help CU's assess compliance and readiness:  NCUA Regulations and Guidance, Federal Governments Requirements and Guidelines, Information Sharing, Forums on Cyber Threats, Best Practices, Privacy and Protecting Personally Identifiable Information
  • CU's should know that they are required to report cybersecurity breaches and incidents to the Region III office once they become aware of the incident
Donovan Urges CUs To Spread Reg. Relief Push Leading To GAC
One-size-fits-all regulations aren't working for credit unions, consumers and small financial institutions, CUNA Chief Advocacy Officer Ryan Donovan explains in CUNA's latest advocacy update video. In the latest video, Donovan stresses the importance of support from the credit union community, particularly leading up to this year's CUNA Governmental Affairs Conference (GAC).


Just for Fun: Business Basics, a Look at Email Etiquette


Of the many insights I've gained, the importance of professional courtesy is probably the lesson I deem most significant to a successful work life. Part of being respectful to colleagues and business connections is always paying close attention to your many digital interactions. Along with messages sent through social media, emails are a constant means of communicating both to individuals across the room and around the world.

Although it may seem obvious to some, sending professional and well written emails are essential to maintaining positive rapport. Let's go back to the basics and review the steps for maintaining your email etiquette.
Professional Development

Last Chance! 2017 Regulatory Compliance School
Just a few seats remain for next week's Regulatory Compliance School in Baton Rouge!  

On February 7, Susan Costonis will guide you through the significant changes to lending compliance at credit unions.  She will cover the "alphabet soup" of lending compliance from Regulation B (ECOA) through Z (Truth in Lending) and include many examination hot spots for 2017 and preview changes coming in 2018. Register for the full 2 day program and be at the top of your Compliance game in both Lending and Share Account issues.

The next day Debbie Crawford will guide you through the minefield of federal and local rules regarding share accounts.  We will discuss the fundamentals you should already know plus the updates and new regulatory changes coming your way.

Join us for the full 2-day program or purchase each module independently.  You choose what works best for your current training needs.

Click here for more information and registration. 
Products and Services

January 2017 Credit Union Trends Report now available online
CUNA Mutual Group's Credit Union Trends Report for January 201 7 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 376,000 in new memberships, loan balances grew at a 10.4% seasonally adjusted annualized pace, while savings balances grew 8.8%. Firms hired 204,000 workers, nominal consumer spending increased 0.2%, and long-term interest rates increased 38 basis points. Third quarter economic growth was revised up to 3.5% and rose 1.7% over the last year.
 
Additional highlights of this month's report include:
 
  • At the end of November, CUNA's monthly estimates reported 6,028 CUs in operation, 18 fewer from one month earlier. Year-over-year, the number of credit unions declined by 247, less than the 256 lost in the 12 months ending in November 2015.
  • Total credit union assets rose 0.3% in November, above the -0.2% decline reported in November of 2015. Assets rose 7.7% during the past year due to a 7.5% increase in deposits, a 17.5% increase in borrowings, and a 6.7% increase in capital.
  • The nation's credit unions increased their loan portfolios by 0.9% in November, greater than the 0.7% pace reported in November 2015. Loan balances are up 10.8% 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 67.3%, up from 65.5% in November 2015.
  • Credit union memberships rose 0.35% in November, up from a 0.12% gain reported in November 2015. Memberships are up 4.2% during the past year due to robust demand for credit, solid job growth and comparatively lower fees and loan interest rates.
  • Credit union loan delinquency rates fell to 0.81% in November, down from 0.82% one year earlier due to a stronger economy, lower gas prices and double digit loan growth. Expect credit unions and banks to loosen credit standards in 2017 to keep loan growth robust.
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 Danielle Thibodeaux at (800) 452-7221, ext. 3018 or research@lcul.com.  
Have You Heard?

Centric FCU's Kelli Green selected to Crash the CUNA GAC
Kelli Green, AVP of Marketing and Training for Centric FCU, has been selected as Louisiana's representative to "crash" the 2017 CUNA Governmental Affairs Conference.

Crash the GAC is an annual event sponsored by The Cooperative Trust and Credit Union National Association (CUNA), and in coordination with Louisiana Credit Union League. The Crash brings young credit union professionals together in a specially tailored program that runs alongside CUNA's Governmental Affairs Conference (GAC) in Washington, DC. This year's GAC takes place February 26 - March 2.

 Crash participants, or Crashers, can expect opportunities for networking and mentor sessions with key individuals from the likes of National Credit Union Foundation, CUNA, Filene Research Institute, and CUNA Mutual Group.
Campus Federal Donates to Our Lady of the Lake's Children's Hospital
Campus Federal employees held fundraisers in the form of bake sales, raffles, jeans days and more to support Our Lady of the Lake's Children's Hospital during 2016. Following their mission of community service and 'people helping people', Campus Federal employees raised $8,386.42.
 

Pictured Right to Left: Ron Moreau, Campus Federal's Chief Development Officer, Shelton Jones, Our Lady of the Lake Children's Hospital's Campaign Manager, Dawn Harris, Campus Federal's President and Chief Executive Officer, and Danny Fields, Our Lady of the Lake Children's Hospital's Director of Children's Miracle Network Fundraising.   
Quote of the Week
"Being successful at networking is realizing that, to get where you're going, you need to help others get to where they're going."
- J. Kelly Hoey

Educational Calendar
Upcoming Conferences & Seminars from your League:    

February 7-8: Regulatory Compliance School 2017
 
Upcoming Teleconferences & Webinars from your League

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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