Keeping you connected to key credit union news, events, and trends: May 29, 2019
In This Issue
Headline News

LCUL's 2019 Annual Meeting & Convention: Sessions, Speakers, Social Events, & More
Download the 2019 Annual Meeting & Convention Brochure!
 
Board games can immerse us in hilarity, strengthen our connections and significantly stretch our minds. We can't think of anything better to describe LCUL's premier event: our Annual Meeting & Convention. Join hundreds of your credit union peers from across the state on July 31 - August 3 in New Orleans as we kick off our 89th celebration.

With a few changes to the schedule, nothing brings us more excitement than the new venue. This year our event will be held at the Hilton Riverside New Orleans, steps away from exciting attractions as well as new opportunities to get a different taste of the city.

Keep up with League updates for added events. Questions? Contact the  League's convention team today!

Important Dates to Remember

June 19: Marketing Awards, Recognition Awards Deadline
July 9: Discounted Room Rate Deadline
July 12: Early Bird Registration Deadline

Action Taken: LCUL Responds to New FCC Order on Behalf of Louisiana CUs
The Federal Communications Commission (FCC) announced its plans to issue a Declaratory Order on June 6 that would give telephone carriers the ability to block calls they suspect to be unwanted robocalls - without regard to whether the calls are being placed by a business with a pre-existing relationship with the consumer and/or with the consumer's express consent. The order would also give consumers the ability to block all calls to their mobile phones except those from numbers in their contact list.
 
CUNA and LCUL are concerned the FCC's ruling conflicts with the encouragement the CFPB, NCUA and other financial regulators have given financial institutions to use modern communication methods to provide time-sensitive account information to members.

The ruling will further erode credit unions' ability to relay information on and implement consumer protections regarding fraud, privacy and account activity. 
 
LCUL has submitted a letter to the FCC on behalf of Louisiana credit unions urging them to address the many credit union concerns with their latest rule making regarding telephone communication practices.
Reminder: LCUL, CUNA Hosts Webinar on "Open Your Eyes" Awareness Initiative in Louisiana
LCUL will co-host an upcoming webinar with CUNA on June 4 at 10:00 a.m. to answer member questions about the Open Your Eyes to a Credit Union awareness initiative.

The "Open Your Eyes" initiative was developed to dispel myths surrounding credit union membership and help grow market share. During the webinar, we'll cover the latest details about the campaign and how Louisiana credit unions will benefit from participating.
Registering is easy. Simply email LCUL's communications department with your name and credit union. Additional information and instructions for calling in will be sent closer to the date. 

CUNA launched its consumer-facing website, www.YourMoneyFurther.com, which helps consumers find credit unions near them and assists them in determining which one makes sense for them to join.  
Professional Development

Real CU Stories Depict the Importance of Attending 
Share Account Essentials
June 18, Lafayette

What can happen when account cards have errors or contradicting information?  Are you under the assumption that small errors and contradicting information can be easily cleared up.  Check out a few real cases where seemingly minor human error in account opening and titling ended up costing credit unions BIG.

Real CU Costly Error:  (Name of CU redacted)
  • ABC Credit Union allows numerous changes in account ownership and POD payees over several years.  Multiple cards exist with contradicting information and some paperwork is missing.
Oh No...what happened?
  • ABC Credit Union pays out $210,000 due to records not clearly documenting ownership.
Real CU Costly Error:  (Name of CU redacted)
  • XYZ Credit Union opened trust account but did not require John Doe to sign documentation in representative capacity.
Oops, that's seems problematic...what happened?
  • The court ruled the transactions on account were conducted by John Does as an individual.  The ruling that the CU didn't follow protocol led to a $545,000 judgement against the XYZ CU
Real CU Costly Error: 
  • Mary Smith Nail Salon, LLC opened an account and POD payees were named.  Upon Mary's death, Ladybug CU paid $27,000 to POD payees. 
That all sounds right to me.  What's the problem?
  • A business representative sued Ladybug CU and a court ruled that there can be no POD payees on an entity account and Ladybug CU had to pay the $27,000 again. 
Don't take chances or assume you're following the proper procedure.  Instead, let Kristen Tatlock keep you informed and confident in the steps necessary to protect your credit union.  Join her in Lafayette on June 18.  Don't delay, click here to register today! 
News from CUNA Mutual

Mark Your Calendars for CMG Annual Discovery Conference 
2019 marks the ten-year anniversary of CUNA Mutual Group's Discovery Conference. Ten years of sharing ideas and inspiration, helping credit unions deepen their industry knowledge and plan for everyday success. Watch for registration information in early June and plan to join us on August 15 for a day of Discovery. 

Click here for additional information. 
Have you Heard?

Neighbors FCU Laine Hardy Member Wins American Idol!
Neighbors FCU member Laine Hardy is your new American Idol! Hardy and his family have been long-time members at Neighbors.

To celebrate his run, NFCU hosted the "Hardy Party" in his home town of Livingston, Louisiana Sunday night where his supporters could come watch him compete in the finale. Neighbors also helped sponsor Hardy's Homecoming concert Tuesday May, 14.

"We're truly appreciative of Neighbors for stepping up and not only making this event possible, but for showing so much support for one of Livingston Parish's own," Livingston Mayor David McCreary said. "It's inspiring to see a local business stepping up like this for one of their members."
Campus Federal Announces Three Vice President Designations
Campus Federal announced three recent promotions/additions. "All three have demonstrated an admirable work ethic," said President & CEO Jane Verret, "and will continue to grow and innovate in their VP roles while keeping Campus Federal rooted in our communities and LSU."

 Brian Ainsworth brings over 20 years of credit union experience at Campus Federal to his new role as vice president of business development and community relations. He is a graduate of University of Mississippi with a Bachelor of Business Administration in Marketing and Management, and earned his Masters of Business Administration from Southeastern Louisiana University. During his tenure at Campus Federal, Ainsworth has gained extensive experience in sales and marketing. He is a founding member and current fundraising team member of the Baton Rouge Area Credit Union Charity Golf Tournament.

 Campus Federal recently promoted Wendy Williamson to vice president of digital delivery. In her new role, Williamson is responsible for Campus Federal's digital member experience in accordance with the credit union's strategic direction. Williamson has been with Campus Federal for nine years, starting as a coordinator before serving as assistant vice president of digital delivery for the past two years. Williamson was instrumental in implementing Campus Federal's new online banking platform, as well as other digital channels to serve our members. Williamson holds Bachelor of Arts and Master of Arts degrees in English from Louisiana State University and Southeastern Louisiana University, respectively. Most recently, she earned her certification as a Project Management Professional.

Becky Rogers comes to Campus Federal with over 25 years of experience in the field of talent management, most recently as director of learning and development at Coca-Cola Bottling Company United, Inc. Rogers has earned the designation of Senior Professional in Human Resources (SPHR) from the Human Resource Certification Institute, and is currently completing her Executive MBA at Jack Welch Management Institute. She earned a Bachelor of Arts degree in Communications at Louisiana College and studied English Education at Northwestern State University.  Ms. Rogers has served as Past President of the Greater Baton Rouge Society for Human Resource Management, is an active member of the Society for Human Resource Management and the Association for Talent Development. She currently serves on the board of directors for LSU University College.
 
Louisiana FCU Awards $2,000 Scholarship To High School Senior
Louisiana FCU is excited to announce Joseph Dalton as the recipient of its annual $2,000 Ronald E. Thomas Memorial Scholarship.
 
The scholarship, named for the late Ronald E. Thomas who served as a Louisiana FCU board member for more than 65 years, recognizes graduating high school seniors who demonstrate outstanding leadership and altruism in the community.
 
Dalton, a graduating senior at Lakeshore High School, was chosen from a competitive applicant pool for his exemplary initiative in the youth political space. Dalton was elected by his peers to serve as president of Lakeshore's Youth and Government Club where he succeeded in tripling club membership and enjoyed mentoring younger students. Dalton will be attending LSU Honors College to study political science with a double major in history.
 
"Each year, we are impressed with the aptitude and spirit of the many applicants for this scholarship," says Rhonda Hotard, CEO at Louisiana FCU. "Being able to give back to the community is important to our organization. We are committed to recognizing and rewarding young adults who aspire to pursue education in ways that are meaningful to their families and communities. We recognize the additional financial burden that college puts on families and offer this scholarship as one small way to help them through the transition."
 
Louisiana FCU actively participates in educating youth in southeast Louisiana about financial literacy through a variety of products that encourage teens to develop money management skills, track financial decisions and learn how to budget for their future. 

NAS JRB CU Hosts Annual Meeting, Highlights Significant Loan Growth
NAS JRB CU celebrated their 71st Annual Membership meeting this past Friday, May 24 at the Belle Chasse Auditorium. Attendance at this year's meeting was greater than expected! NAS JRB CU gave away over $3,000 in cash raffles to their members, as well as individual gifts for everyone that attended.  One thing the credit union was proud to report to its membership: loan applications increased by a third of what they had by last year's Annual Meeting.

The theme was "We're All Mad For NAS JRB CU" which allowed the members to show their "mad love" for NAS JRB CU at the meeting using their photo booth.
Pelican State CU Paying Highest Dividends in Louisiana on Checking Accounts
Pelican State CU announced that qualifying members could now earn up to 5.01% APY* on their Kasasa Cash checking account-the highest rate offered in the state of Louisiana!
 
The decision to raise the rate further demonstrates the credit union's commitment to give back to members and remain competitive with products and services offered.
 
"We paid $3.4 million in dividends in 2018," explained Pelican CEO Jeffrey K. Conrad. "Now Pelican members can earn even more. This competitive rate is just one of the many ways that we are more than a credit union to our members-we're their financial family for life."
 
The potential to earn the highest dividends in the state isn't the only benefit of the account-with no monthly maintenance fees, unlimited refunds on nationwide ATM fees, and no minimum balance to earn rewards*, Pelican is making it easy for members to get more with less red tape. 
Quote of the Week:
"There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self."
- Ernest Hemingway

Educational Calendar
Upcoming Conferences & Seminars from your League:

June 16-18:   LA/MS Volunteer Conference
June 18: Essentials of Share Accounts
June 25-26: ULend Academy
July 16: Effective Collection Practices
July 31-August 3: LCUL Annual Meeting & Convetnion 

Upcoming Teleconferences & Webinars from your League:

May 30: Military Lending Act & SCRA: Compliance & Lessons Learned  
June 3: Untangling Complex RDFI Challenges
June 4: Mortgage Lending Hot Spots Series: Construction-Only & Construction-to-Permanent Lending
June 5: Job-Specific BSA Training for Operations
June 6: Handling Dormant Accounts, Unclaimed Property & Escheatment
June 10: Financial Literacy Fundamentals for New Directors: Financial Statements, Key Ratios & How to Monitor Your Credit Union
June 11: Essential HR Recordkeeping 
June 12: Handling IRA Required Minimum Distributions & Roth Distributions
June 13: Call Report Series: Financial Accounting & Reporting
June 18: Reg E Fundamentals
June 19: Electronic Returned Items: Combating Fraud
June 20: Effective Debt Collection Techniques & Strategies
June 25: Job-Specific BSA Training for the Board
June 26: Card Data Security: PCI-DSS Risk, Readiness & Compliance
June 27: Living, Grantor & Family Trust Accounts: Common Problems in Account Opening & Lending

For a complete listing of educational opportunities available from LCUL, visit the League website.
Copyright © 2019 Louisiana Credit Union League 
824 Elmwood Park Blvd, Suite 200, Harahan, LA  70123
(800) 452-7221   www.lcul.com