Headline News

Credit Unions Lend Helping Hand to Members During Shutdown
More than 500 credit unions around the country provided more than $46 million in low- or no-interest loans to more than 60,000 credit union members affected by the 35-day government shutdown that ended Jan. 27.

CUNA recently conducted a survey of credit unions who  assisted members during the shutdown and recorded the data from approximately 500 responses.

Survey responses to CUNA showed:
  • More than 60,000 credit union members turned to their credit union for support;
  • More than 11,000 members were afforded loan extensions and other loan modifications, often with associated fees waived; and
  • More than 3,000 people joined a credit union during the shutdown to help them weather the shutdown's financial uncertainty.
Responses also indicated that, while banks offered to defer existing loans, few if any were able to help customers deal with day-to-day costs, while many credit unions were able to tailor products explicitly for that purpose.

A recent poll from Prudential polling found that 62% of families affected by the shutdown depleted most or all their savings. A poll conducted by Fox News in January found that 54% of Americans are within two paychecks of severe financial stress, and the Prudential poll mentioned previously found 63% of Americans can't cover a $500 emergency.
National CU Youth Week: The Future is Yours; Picture It! Save for It! Share It! 
Picturing your goal is the first step to achieving it! This year's National Credit Union Youth Month theme encourages young members to express themselves through pictures, sharing their visions for their own financial futures so we can help them get there. This April, celebrate National Credit Union Youth Month with the theme: "The future is yours... Picture it! Save for it! Share it!" 
 
National Credit Union Youth Month is an opportunity for credit unions to make lasting relationships with their youngest members and helping them focus on their futures, and the wonders that they may bring.
 
The  Youth Month website and  member celebrations store are now live and feature resources to help you create a memorable experience for your young dreamers. 
 
Get the ball rolling today by  starting your event planning and making sure your youngest members are ready for whatever dreams they picture.
4Q18 Data Now Available in CUAnalyzer
Third quarter data is officially here and you have access to it in CUAnalyzer through your affiliation with the Louisiana Credit Union League. Log in now to dive into your credit union's data. Sign up for our next training for a complete walk-through of CUAnalyzer.
Compliance

Make Sure Your Credit Union Policies and Procedures are Up To Date!
CUNA's  2018 Year-in-Review Checklist was released last week to consolidate resources and information available on the finalized rules and regulations that occurred during calendar year 2018.

The checklist is designed to assist credit unions in updating necessary policies and procedures.
Professional Development

What is ULEND Academy and How is it Different from Other Lending Trainings I Have Attended?

ULEND Academy is real solutions for the real world. No more binders! No more wasted hours in classes with great ideas that are hard to implement in your REAL life!

Watch this brief video  to understand why ULEND Academy is the solution you have been looking for! 


Are you new to lending? Have you been lending for so long that you that you are stuck in your ways? Or do you fall somewhere in the middle? No matter the answer, ULEND Academy is here to help you get better at what you do every day!

Pick your date and pick your location! 

Have you Heard?

W.B.R.T. FCU Selected to Participate in New Financial Empowerment Initiative
W.B.R.T. FCU is one of five hyper-local Community Development Credit Unions (CDCUs) selected to participate in a new initiative by Inclusiv. This initiative  aims to expand financial inclusion and empowerment in underserved regions of the Southeastern U.S. by providing capacity-building assistance to low-income, minority-designated CDCUs serving mostly rural, African American communities in Alabama, Mississippi and Louisiana.

"We love having the opportunity to positively impact our members' lives every day." stated Angella Johnson, CEO of W.B.R.T. FCU. 

Neighbors FCU Contributed $406,289 in Community Impact in 2018
In 2018, Neighbors Federal Credit Union contributed an estimated value of $406,289 to charitable causes supporting the Greater Baton Rouge community in the form of cash donations, sponsorships, employee community service hours and goods donated by NFCU members and employees.

The contributions break down into the following areas of need:
  • Education $141,928
  • Misc. Community Empowerment $114,897
  • Financial Literacy $75,355
  • Children's Services $38,050
  • Health Wellness $20,492
  • Veterans and Law Enforcement $12,012
  • Animal Welfare $3,555
Neighbors FCU holds community involvement as one of its core values and believes it is a credit union's role to improve and empower the communities it serves. Neighbors FCU started as Baton Rouge Teachers FCU, so investing in education is one of its founding principles and continues to be a priority for the credit union.

Neighbors estimates contributing a total value of $141,928 toward education, which includes $15,000 in scholarships from the Neighbors Way Tuition Assistance Award, $40,985 given back to local high schools from the Mascot Checking Program, and roughly $60,000 spent building new financial literacy centers at Walker High School and Denham Springs High School.

"One measurement of success is to evaluate the positive impact that we've made on our community as well as in the lives of our members," Neighbors President and CEO Steve Webb said.

"As we look back upon 2018, I am proud of the work done by our organization and our team as we invest time, talent and donations to ensure the communities that we serve are better places because Neighbors FCU was present."

The La Capitol FCU Bonus IRA is Back
La Capitol Federal Credit Union reintroduced the popular Bonus Individual Retirement Account this January. The Bonus IRA earns a five percent Annual Percentage Yield*, and does not require a minimum balance or a minimum initial deposit. La Cap also does not charge a maintenance fee for the Bonus IRA.
 
There is no requirement that the member have a La Cap checking account, as is the case with the credit union's other IRAs.
 
"It is the mission of La Cap to promote the financial well-being of our members," said La Capitol CEO Michael Hooper. "Our Bonus IRA has one of the highest Annual Percentage Yields in the country, and no maintenance fees. We feel like this is a great way for members to start planning for retirement without a lot of start up costs.  This is just one way we take care of our members."
 
Membership in the credit union is required in order to take advantage of the Bonus IRA. 

* Bonus IRA is a term share account. La Cap may change the dividend rate for your account as determined by the credit union Board of Directors. The APY is available on new contributions made to your account this year. The maturity date is December 31 of the year the contribution was made. IRA rollovers from another financial institution or retirement plan do not qualify for this special Bonus IRA rate. Dividends earned are posted and compounded monthly. Applicable fees and conditions could reduce the earnings on your account. Substantial penalties for early withdrawal.

Quote of the Week:
"It is hard to fail, but it is worse never to have tried to succeed. "
- Theodore Roosevelt

Educational Calendar
Upcoming Conferences & Seminars from your League:

March 10-14: CUNA GAC
March 22:  Essentials of Share Accounts
April 11: Preparing for the BSA Exam
April 17-18: CU Connect Marketplace and Roundtalbles
April 24-25: ULend Academy

Upcoming Teleconferences & Webinars from your League:

February 21: The New NIST Digital Identity Guidelines: Impact on Passwords, Security Questions & Account Lockouts
February 25: Debit Card Chargebacks Part 1: Understanding Visa Rule Changes
February 27: ACH Dispute Resolution
February 28: Flood Insurance Compliance Update & FAQs
March 5: Strategic Decisions Regarding CECL Methodologies, Processes & Governance
  March 6: Essential Board Reporting: Requirements, Timing, Delivery Options, Risks & Concerns
  March 7: Federal Requirements for Tech-Based Marketing: Websites, Social Media, Robo Calls & More
  March 11: Cross Selling: The Key to Accountholder Satisfaction & Retention
  March 12: Synthetic ID Fraud: What It Is, How It Works & Real-Life Scenarios
  March 13: 2019 ACH Rules Update  
March 14: Debit Card Chargebacks Part 2: Understanding Mastercard Rule Changes
March 19: Best Practices for Today's Credit Union Board
  March 20: Advanced BSA Officer Training: In-Depth Risk Issues & Difficult Situations
  March 21: Required Compliance for Commercial Loans Secured by Real Estate
  March 25: Handling Power of Attorney & Living Trust Documents on Deposit Accounts & Loans
  March 26: Board Reporting Series: Red Flags in Board Reports
  March 27: Global Cash Flow Analysis for Underwriters & Credit Analysts

For a complete listing of educational opportunities available from LCUL, visit the League website.