Keeping you connected to key credit union news, events, and trends: September 6, 2017
In This Issue
Headline News

NEW! Prize Linked Savings Roll-Out Webinar Added to Calendar


Can't make it to one of our three in-person meetings for Prize Linked Savings (PLS)? We've got you covered! Our team has added a webinar to the calendar for those who want to learn more about LCUL's PLS Program, the Lucky Lagniappe Savings Account. The webinar will take place on September 21 at 2:00 pm. We will also archive this webinar for anyone that is not able to attend it live.  
 
What is Lucky Lagniappe Savings?
Lucky Lagniappe Savings  helps members build good savings habits with the added excitement. A Lucky Lagniappe Savings account is a club-like savings account which allows accountholders to earn entries into monthly and quarterly prize drawings. Interest and account value caps are set by each participating credit union, with a maximum of five prize-drawing entries per member, per month.
 
Lucky Lagniappe Savings is modeled after a national award-winning prize-linked savings product developed by Doorway to Dreams and the Filene Research Institute. Thanks to a state law passed in 2016 with the help of Senator Ed Price, Louisiana became one of several states throughout the country that allows credit unions to offer this product to members.  The program can help all credit union members build a financial safety net, but it was created specifically with new savers and the financially vulnerable in mind.
 
How can I learn more?
Sign up to come to one of our overview meetings. We will be holding two meetings at each location:  a morning session from 9:30 am to 11:00 am, and an afternoon session from 1:00 pm to 2:30 pm. Click on the links below to register:

September 21: Webinar

September 27: Baton Rouge at Louisiana USA FCU
LCUL Donates $2,500 to Victims of Hurricane Harvey, Cornerstone League Offers Ways to Assist CUs
The Louisiana Credit Union League has made a donation of $2,500 to CUAid to benefit credit union people in Texas who were affected by Hurricane Harvey.
 
"Louisiana knows all too well what our neighbors are going through. In our time of need, they were there for us in our time of need and we intend to do the same. LCUL will be working with our credit unions to look for ways we can be of further assistance in the coming weeks. Hopefully small donations like this will add up and have a big impact. To our friends in Texas, our thoughts and prayers are with you now more than ever," commented Anne Cochran, LCUL President/CEO.

The League has fielded many calls from Louisiana credit unions asking how they can help. While damages are still being assessed, the Cornerstone League has provided the following ways in which you can provide assistance:
  • Donate to CUAid. CUNA Mutual has activated their disaster response system, and donating through CUAid ensures that 100 percent of your dollars goes directly to helping credit unions in need.
  • Donate to the Cornerstone Foundation, which will provide direct disaster relief assistance to credit union employees and board members.
  • If you have a specific resources you can make available to support business continuity or recovery efforts of credit unions, email [email protected].
  • Credit unions in unaffected areas can support evacuees and displaced humans (and their pets) through Cornerstone's Credit Unions Care community engagement initiative.
Reminder: It's Time to Test Your Cybersecurity Preparedness
Two sessions to choose from: 
September 12-13 or September 19-20

How would your financial institution respond to a cyber-attack? Find out by participating in the 2017 Financial Services - Information Sharing and Analysis Center (FS-ISAC) Cyber-Attack Against Payment Systems (CAPS) exercises in September. Participate from your own premises in a virtual, confidential two-day, tabletop exercise that simulates an attack on payment systems and processes.

 The CAPS exercises present a robust, real-world cyber-attack designed to challenge incident response teams practice mobilizing quickly; work under pressure; critically apprise information; and connect the cyberdots to defend against an attack.

 Click here to find out more and to register.
Just for Fun: 4 Ways to be a Better Networker


Whether you're working to grow your company or making connections for a new business venture, there's no substitute for the networking process. Sure, it can be a daunting task to open yourself up to new people, but the more you get out there, the more successful you will be. Here are four helpful tips for becoming a better networker.
Click here to continue reading.  
Professional Development

Mobile Marketing, Implementation Tactics Covered at LCUL's Marketing & Business Development Conference 

Have your registered for the Marketing & Business Development Conference Yet?  Join us at the Golden Nugget in Lake Charles October 3-4 where we have assembled a variety of presenters to help you discover the latest ways to not only communicate with your membership, but actually engage with them, increase product sales and foster your relationship.
 
In one of our featured sessions, Michael Tasner will dive deep into mobile marketing and share with us the secrets of an actual campaign that generated over $4 Million in loans in less than 48 hours using ONLY three text messages. L earn how to:
  • Audit your current marketing to ensure a mobile first mentality
  • Pick the right mobile tool for your credit union (often under $20 a month)
  • Capture your members elusive cell phone numbers...and stay 100% compliant while doing it
  • Strategize the best type of content that can and should be sent through mobile messaging to stimulate engagement
  • Craft a mobile marketing strategy that will generate results (and fast!)
Other featured sessions will include:
  • Identifying your credit union's Value Proposition and leveraging it to your membership with Bo McDonald. 
  • Harnessing the Power of Video to generate leads and sales with Frank Allgood
  • New Trends in Digital and Email Marketing with Marne Franklin
  • Expanding your brand into a new territory and developing your customer base with the Golden Nugget team.
  • Facilitated Discussion of current Business Developent and Marketing Trends and Issues.
  • And more!
 
Click here to learn more and to register.
 
Products & Services

Catalyst Corporate: Six Years Partnering with Credit Unions
catalyst Six years ago this week, Catalyst Corporate was founded with a goal of building a successful partnership with credit unions across the country. An anniversary provides an opportunity to celebrate achievements of that partnership, which has grown to 1,411 total members.

On this anniversary, Catalyst Corporate also reaffirms its commitment to stand beside its partner credit unions struggling to recover from the recent devastating storms along the Gulf Coast.  
Have You Heard?

Lafayette Schools CU Donates To United Way Stuff The Bus Campaign
Lafayette Schools CU donated $830 plus hundreds of school supply items to the United Way Stuff the Bus campaign.

The credit union served as an official donation location for campaign and provided bins for donations from members and staff alike. Logo decals were also on sale for $2 at all branches. Members and staff who purchased the decals could write their names on it and stick them to the teller lines.

"I'm amazed at the generosity of our members and staff," said Connie Roy, President/CEO of Lafayette Schools CU. "This is a great example of what can be achieved when we put our resources together."
   
Quote of the Week:

"I invite everyone to choose forgiveness rather than division, teamwork over personal ambition." 

- Jean-Francois Cope
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 7: Responding to Official Demands for Member Funds
September 11: Preparing for Reg CC Rule Changes Part 1: Impact, Detailed Changes & Action Plan
September 12: Regulator Issues for the Credit Analyst
September 14: Director Series: What Directors Should Know About Risk Management
September 19: Managing & Mitigating Data Breaches: Fraud, Forensics & Incident Response
September 20: Supporting Documentation for the ALLL: Current Rules & Future Expectations Under CECL
September 21: ACH Specialist Series: RDFI Returns: 2 Day vs. 60 Calendar Days
September 26: Financial Literacy for Directors Part 1: Introduction to Key Risk Components
September 27: Step-by-Step SAR Completion: Dos & Don'ts
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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