Headline News

LCUL's Annual Meeting & Convention: Sessions, Speakers, Social Events, & More

 
The Louisiana Credit Union League is gearing up for our 2017 Annual Meeting & Convention (July 26-29) where we are issuing an all access pass to experience some of the day-to-day operations at LCUL. No need to call into a radio station or win a contest. Just by registering, you'll discover who we are and what we do for you!
 
We are excited to roll out some new additions to this year's convention like the Rock n'Bowl social event benefiting the Louisiana CU Foundation, our 30 minute hot topic sessions, round-table discussions, and other surprises. Download the official convention brochure to check out these new additions as well as some of your all-time favorites.
 
Important Dates to Remember:
 
June 9: Marketing Awards Deadline
June 26: Discounted Room Rate Deadline
June 30: Hall of Fame, Memorials Deadline
July 7: Early Bird Registration Deadline

*note: corrected date for marketing award deadline
 
Additional information can be found on the League website. Questions? Contact the  League's convention team today!

Tomorrow Marks the Start of Hurricane Season, Review the League's Latest Resources

With June 1 being the start of hurricane season, the League wants to remind credit unions about important disaster preparedness information and resources available on our website. Additionally, we encourage credit union to review their disaster preparedness procedures and conduct any testing to ensure there is no interruption should a disaster take place.

Click here to access LCUL's Disaster Preparedness Resources.

In the event of a disaster, your League will be there to assist you in the recovery process. We will continue to update our website as well as social media platforms, making sure credit unions have the latest information made available.

Should credit unions need League information to include in their disaster preparedness plans, please contact Steven Liberto, LCUL Chief Administration Officer.
Pelican Politics

CU-Friendly Candidate Ed Price Wins Election Run-Off
Representative Ed Price (D-District 58)  was declared the winner in Saturday's special election run-off to fill the state senate seat vacated by former Sen. Troy Brown. Stretching from Port Allen to Thibodaux to the south and just beyond LaPlace to the east, the Senate District 2 encompasses parts of eight parishes along the Mississippi River and Bayou Lafourche.

Some 14,731 voters cast ballots were in the runoff election. (Price captured 9,224; Harang got 5,507) With the vote falling on a holiday weekend and as the only question on the ballot, many had little idea how the vote would play out.

Price has been an avid credit union supporter over the years, authoring and introducing a number of bills that have helped grow credit union movement across the state. He was instrumental in our 2016 legislative successes, which include the passing of Prize Link Savings and Payable on Death. Additionally, Price holds a position on the Board of Directors for Wymar FCU in Geismar, LA.

 "When we talk about credit union-friendly candidates, we look to Representative Price as a prime example. He has given so much time and energy to advancing our movement in Louisiana, going to bat for us on numerous occasions. We are grateful for his support and are delighted to show our appreciation by financially supporting his campaign," commented Connie Major, LCUL CFO/EVP of Governmental Affairs.

News from CUNA Mutual

May 201 7  CU Trends Report Now Available
CUNA Mutual Group's Credit Union Trends Report for May2017 is now available online and can be accessed in the Compliance & Research section of our website, under the heading Research & Information.

During March, credit unions picked-up 592,000 in new memberships, loan and savings balances grew at a 13.4% and 7.8% seasonally-adjusted annualized pace, respectively. Firms hired 79,000 workers, nominal consumer spending was unchanged, and long-term interest rates increased 6 basis points. Real GDP growth was 0.7% in the first quarter due to a slowdown in inventory accumulation and weak consumer spending.
 
Additional highlights of this month's report include:
  • At the end of March, CUNA's monthly estimates reported 5,953 credit unions in operation, 24 fewer than one month earlier. Year-over-year, the number of credit unions declined by 242, less than the 252 lost in the 12 months ending in March 2016.
  • Total credit union assets rose 1.7% in March, faster than the 1.0% gain reported in March of 2016. Assets rose 8.7% during the past year due to an 8.6% increase in deposits, 19.3% increase in borrowings, and 5.9% increase in capital.
  • The nation's credit unions increased their loan portfolios by 0.9% in March, slower than the 1.1% pace reported in March 2016. Loan balances are up 11.3% during the last 12 months. With loan balances growing faster than savings, credit union liquidity is tightening as the credit union average loan-to-savings ratio reached 78.2%, up from 76.3% in March 2016.
  • Credit union memberships rose 0.54% in March, up from the 0.45% gain reported in March 2016. Memberships are up 4.5% during the past year due to robust demand for credit, solid job growth and credit unions having comparatively lower fees and loan interest rates.
  • Credit union loan delinquency rates fell to 0.74% in March, below the 0.75% natural long-run rate, from 0.78% in February due to tax refunds and bonuses allowing some members to catch-up on late loan payments.
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?

Linnet Adams win's Post Office Employees CU's Guy C. Comes Memorial Scholarship
Each year, Post Office Employees CU awards a high school senior the Guy C. Comes Memorial Scholarship.

Mr. Comes was a member of the Board of Directors of POECU for over forty-nine years. He served as the Chairman of the Board for twenty-five years (1949-1974). He continued to serve on the Board until the health of his wife required his constant attention. He dedicated his service to helping others and to helping the credit union grow.

In the spirit of Guy, the scholarship of $1,000 is awarded on the basis of academic achievement, extracurricular involvement, and social responsibility. The credit union awarded Linnet Adams, a senior at Benjamin Franklin High School, as the 2017 recipient. She has taken nine AP courses and twelve honors courses throughout her high school career and has been the leader of multiple extracurricular organizations, including taking on the position of co-president and treasurer of Quiz Bowl, co-historian of Mu Alpha Theta, and president and co-founder of Comedy Club. When asked why she co-founded the Comedy Club, Linnet said that she "wanted to have a club where people can relax, unwind and tell jokes." Linnet has also put in over 300 hours of service at the Catholic Youth Organization.

Linnet is going to Grinnell College in Grinnell, Iowa this coming fall and plans on double majoring in history and psychology. "History and psychology both really interest me, and I hope to become a high school guidance counselor," Linnet said. 
Campus Federal Names Britt Drummond VP of Finance
Campus Federal CU recently promoted Britt Drummond to Vice President of Finance.  In his new role, Drummond will support the chief financial officer in executing investment decisions, in addition to analyzing cash flow and cost controls.  Collaborating with senior management, Drummond will work to develop long-term financial strategies benefitting Campus Federal and its members.
 
"Britt has been a great team member for nearly nine years," Dawn Harris, Campus Federal President and CEO, said. "We are pleased to announce his promotion and know he will excel at leading the finance team to support the success of Campus Federal now and in the future."
 
Drummond has a Bachelor of Science in Finance from Louisiana State University. He most recently served as assistant vice president controller at Campus Federal. Prior to his positions with Campus Federal, Drummond served as an internal auditor with Cornerstone Financial Credit Union in Nashville, Tenn.
Quote of the Week:
"Effective leadership is not about making speeches or being liked; leadership is defined by results not attributes."
- Peter Drucker


See What Louisiana CUs Are Doing: Download Membership@Work!

Educational Calendar
Upcoming Conferences & Seminars from your League:    

June 7: Branch Manager Forum
June 9-16: Southeast CUNA Management School
June 21-22: Underwriting & Collections: Understanding the Roles and the Importance of their Relationship  
July 26-29:  LCUL's Annual Meeting & Convention
 
Upcoming Teleconferences & Webinars from your League

June 1Developing the Perfect Sales Conversation
June 6: Developing an Effective Process for Change Control: Shared Responsibilities, Implementation & Monitoring
June 7: Report Writing for Auditors: Tips, Tools & Best Practices
June 8: Revisiting TRID Line-by-Line Part 2: Closing Disclosure
June 13: Traditional & Roth IRA Plan Establishment & Required Amendments
June 14: Reporting Member Credit & Effectively Managing Credit Disputes
June 15: Debit Card Chargebacks: Rules, Rights, Challenges & Best Practices
June 20: Supervisory Committees: Understanding Expectations & Avoiding Landmines
June 21: Real Estate Series: Adverse Action in Mortgage Lending: Are You in Compliance?
June 22: BSA Compliance Series: New BSA Officer Training
June 27: My Borrower Filed Chapter 11 Bankruptcy - Now What?
June 28: The Top 10 Things You Need to Know About the CFPB's Amendments to Mortgage Servicing Requirements Before October 19
June 29: ACH Specialist Series: Same Day ACH: Preparing for Processing Debits, Effective September
July 6: Director Series: Effectively Assessing Credit Risk & Defining Credit Risk Appetite for Directors
July 10: Wire Transfer Security Issues: Regulatory Guidance, Risk Management & Monitoring
July 12: Regulatory Requirements When Employees Work from Home: Overtime, FMLA, ADA, Safety & More
July 13: Call Reports: Financial Statements & Schedules B-E
July 18: Creating an Effective Suspicious Activity Program: 
July 19: Regulation E Series: Regulation E Fundamentals: Back to Basics
July 20: Working with Troubled Members: Loan Extensions, Deferments, Re-Aging, Refinancing & Incentives
July 25: 20 UCC Provisions You Must Know When Cashing or Depositing Checks
July 26: E-Compliance Rules, Policies & Best Practices for Email, Web, Mobile & Social Media
July 27: Risk Management Series: Conducting a Fair Lending Risk Assessment
     
For a complete listing of educational opportunities available from LCUL, visit the League website and click on "Education".