Keeping you connected to key credit union news, events, and trends: December 12, 2018
In This Issue
Headline News

LCUL Strengthens Product Offering with LEO's All New Complete Cybersecurity & Compliance Program for Louisiana CUs
Member Credit Unions Receive Discount on All-Inclusive Program  Including Assigned CISO!

In order to evaluate credit union resiliency, NCUA and State regulators are shifting their focus toward elements of a cyber security program instead of just looking for existence of tools such as antivirus and firewalls. Their increased efforts are to ensure credit unions prioritize cybersecurity in their risk management strategies.

Because of the importance of this problem, LCUL partner LEO Cybersecurity has developed an elastic solution that fulfills the needs of all credit unions at an affordable, discounted price. Their approach to protecting your credit union starts with cyber security leadership and is integrated into the highest risk areas of the organization.

Whether driven by budgetary concerns or lack of local talent, more and more credit unions are opting to outsource C-level security roles. LCUL is dedicated to ensuring credit unions have what they need to operate efficiently and effectively, particularly in the cybersecurity arena, which is why we have negotiated affordable pricing and special savings with one of the best in the industry.
 
"Considering the costs associated with a successful attack (lost productivity, system down time, restoration), credit unions must maintain a secure environment," commented Steven Liberto, LCUL EVP of Business Solutions. "We believe this partnership offers a solution that is needed by everyone, regardless of the asset size or field of membership."

Click here for a complete description of this crucial product offered to Louisiana credit unions. For more information or a free estimate, contact Steven Liberto. To learn more about LEO Cybersecurity, visit https://leocybersecurity.com/. 
LCUL's New 'Membership in Action' Highlights 3rd Qtr Impact, CUs in the Community
We live in a moment of information overload, which increases the risk of something essential being lost. LCUL's value proposition should never be one of them. Our quarterly installments of Membership in Action will provide a snapshot of the activities, initiatives and services provided by your League along with stories on Louisiana credit unions in the community.
 
We are excited to promote the 3rd quarter success of our partnership through two channels. Take a look at the video and then download the print version, which showcases the good work of Louisiana credit unions.


3Q18 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.

Reminder: FiCEP Enrollment Deadline is Friday!
Earn Your CCUFC Designation in 2019!

Credit unions recognize that members sometimes lack the skills required to create a sound financial future, particularly when they're burdened by debt.

The goal of the Financial Counseling Certification Program (FiCEP) is to train credit union staff to identify and help members in need of these skills while providing objective insights and information members can use to gain the power to change their financial future.
 
Through the FiCEP program, your credit union can stand out among financial institutions as a trusted resource for financial counseling. This program is also a great way to build solid partnerships with other community resources. Credit unions that have implemented the FiCEP program have experienced a reduction in charge-offs, member bankruptcies, repossessions, an increase in the number of accounts that enter a paid-off status, an increase in loans, and benefited from a heightened value and loyalty from members.
 
Credit union staff wanting to work towards the Certified Credit Union Financial Counselor (CCUFC) designation should register today for the 2019 FiCEP training. The registration deadline is December 14, 2018.

Click here for more information. 
Pelican Politics

Kraninger Confirmed by 50-49 Vote in Senate as New CFPB Director: What Does This Mean for CUs?
Last week, League partner Dollar Associates, LLC distributed a client update regarding Kathy Kraniger's confirmation as CFPB Director. In the update, Dennis Dollar provides an interesting perspective on what this means for credit unions. He noted that the most interesting matter with credit union implications, because of the spillover effect at NCUA and the states when the CFPB is prioritizing the issue, is whether there will be a focus on more and expanded fair lending examinations for all financial institutions - including credit unions.

LCUL distributed a special issue of Pelican Politics with a link to the update. To access this information, please contact LCUL's Communications Department. 
News from CUNA Mutual

November 2018 CU Trends Report Now Available
CUNA Mutual Group's Credit Union Trends Report for November 2018 is now available online and can be accessed in the CU Products & Services section of our website, under the heading Performance and Data Resources.  

During September, credit unions picked up 306,000 new memberships and loan balances grew at a 9.8% annualized pace, while savings balances rose at a 6.1% annualized pace. Firms hired 118,000 workers, nominal consumer spending increased 0.5% and long-term interest rates decreased 11 basis points. Third quarter economic growth came in at 3.5%, but only increased 3% from the third quarter of 2017.
 
Additional highlights of this month's report include:
  • At the end of September, CUNA's monthly estimates reported 5,653 credit unions in operation, down 33 credit unions from one month earlier. Year-over-year, the number of credit unions declined by 220, more than the 209 lost in the 12 months ending in September 2017.
  • Total credit union assets fell 0.4% in September, slower than the 1% gain reported in September of 2017 due to August ending on a payroll Friday. Assets rose 5.2% during the past year due to a 5.1% increase in deposits, a 3.4% increase in borrowings and a 6.7% increase in capital.
  • Credit unions increased their loan portfolios by 0.7% in September, more than the 0.6% pace reported in September 2017. Loan balances are up 9.8% during the last 12 months. 
  • Credit union memberships rose a modest 0.26% in September, similar to the 0.25% gain reported in September 2017. Memberships rose 5% during the past year 
  • Credit union capital-to-asset ratios rose to 10.8% in September, above the 10.7% ratio reported one year ago. Credit union loan delinquency rates fell to 0.65% in September, down from 0.78% one year earlier 
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 League, please contact Jason Swint at (800) 452-7221, ext. 30 20 or [email protected] .

Have you Heard?

Pelican State CU CEO and Staff Helps Knock Out Breast Cancer
Pelican State CU CEO Jeffrey K. Conrad joined the American Cancer Society (ACS) to knock out breast cancer through the Real Men Wear Pink campaign. Throughout the month of October, Conrad and Pelican team members dressed in pink to show their support for those battling breast cancer.
 
Conrad raised $3,848 thanks to the support of many generous donors in the credit union community. The campaign as a whole raised $69,000 that will allow ACS to continue saving lives through building awareness, early detection, breast cancer research and more. 


Bossier FCU Launches "Forward Thinking" Website


Bossier FCU launched a new website featuring a modern, user-friendly design just in time for the holiday season. The website was designed and built by On The Mark Strategies, a recognized leader in speaking, branding, planning and marketing services for credit unions.
 
"Bossier Federal strives to proactively meet member needs," said Shawn Temple, Chief Operating Officer at Bossier FCU. "Our hope was to design a website that stepped away from traditional credit union websites and instead delivered a cutting-edge online experience incorporating video tutorials, financial literacy resources, community events and easy-to-navigate information. The new website does exactly this and will help us better serve the member of both tomorrow and today."
 
The new website is the next step in a series of initiatives Bossier Federal has taken to deliver a personal, digitally current experience to their members.
 
"Websites are an increasingly critical component of the member experience," said Mark Arnold, founder and president of On The Mark Strategies. "Consumers today expect instantaneous service. The website is a credit union's only branch open 24 hours a day, seven days a week, able to meet that demand. It must deliver an engaging experience. Bossier Federal clearly understands this reality, and I look forward to seeing where the initiative takes them."
 
Click here to view Bossier Federal's new website. 
CityBusiness Recognizes NOFFCU as 2018 Best Places to Work
New Orleans CityBusiness has selected the honorees for its 16th annual Best Places to Work special publication and event. Congratulations to the New Orleans Firemens FCU (NOFFCU) for being named a 2018 recipient!

CityBusiness selected 35 honorees in the large company category (more than 50 employees) and 15 honorees in the small business category (fewer than 50 employees). To compete, companies must submit extensive nomination forms disclosing workforce data such as salaries, benefits, retention levels and employee advancement. The next part of the process involves an anonymous survey of company employees to measure workplace culture.
 
NOFFCU was honored at an awards event this past Friday, December 7 at the Hyatt Regency.  All honorees will be profiled in a special publication that will be part of the December 21 issue of CityBusiness.


Neighbors FCU Helps Walker Student Start "Book and Braids" Reading Program
Last year, Neighbors FCU hosted a contest for high school students in the Greater Baton Rouge area to submit an essay on how they improve our community using just $100. Emily Seighman suggested that she would purchase children's books and hair care products and help children learn to read while braiding their hair before school. She called her idea Books and Braids.
 
Neighbors selected her idea as the winner and provided the funds to make this idea a reality this school year.
 
Once a week, Seighman has visited Denham Springs Elementary before class to enhance the reading skills of four students in the second grade. 
 
"Three of these girls are ESL, which means they are Spanish-speaking at home," Seighman said. "The only time they get exposed to English is here at school. So, them coming in and getting their hair done while learning to read is pretty awesome."
 
"Sometimes it's a matter of how to give rather than how much you should give," Neighbors President and CEO Steve Webb said. "We commend Emily for her outstanding idea and efforts, and are committed to supporting educational programs in the communities we serve."

Walker High School recently named Seighman "Student of the Year." She will graduate in May.
CSE FCU Proudly Celebrated 75 Years of Service
CSE FCU proudly celebrated its 75th anniversary on December 7. In celebration, a ribbon-cutting ceremony was performed by the Chamber of Commerce of Southwest Louisiana at the main branch in Lake Charles. President/CEO of the Chamber, George Swift, and Mayor Nic Hunter were a few of the dignitaries in attendance to the ceremony.

Ken Gardner, CSE Chairman of the Board, spoke during the ceremony in regards to the historical growth of CSE. Mr. Gardner stated "Over the past 75 years, many things have changed, but one thing that has remained is the consistency and value of our service to our members and to our community." Mr. Gardner has been a board member to the credit union for 30 years, active as a Board Chairman for the past 24 years.

Following Mr. Gardner, President/CEO, Clark Yelverton announced the construction and anticipated completion date of the fourth CSE branch, as well as a $1 million bonus dividend and interest return, to go back to CSE members. "We're happy to give back to our members and excited to service residents in Jeff Davis Parish, as well as the whole three parish community," stated Mr. Yelverton. The fourth CSE branch will be located in Jennings, Louisiana, with an anticipated completion date of mid-2019.

 In light of CSE's Diamond Anniversary, CSE partnered with Diamond Durrell's, one of the most trusted names in jewelry, to provide a diamond necklace valued at $1,250. During the month of December, CSE encourages all members to stop by any of the three branches and register to win the diamond necklace. CSE is proud to say that Diamond Durrell's has been a trusted business partner for over 10 years.
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:

January 14-15: Committee Workshop/Lunch & Learn
February 6-7: CUs on the Grow: Create Preference, Deliver Excellence, Sustain Relevance
March 10-14: CUNA GAC

Upcoming Teleconferences & Webinars from your League:

December 12: Dealing with Joint Signers in Consumer & Real Estate Lending
December 13: Your Depositor Has Died: Actions to Take, Mistakes to Avoid
December 18: Closing or Changing Deposit Accounts for Consumers & Businesses
December 19: BSA Officer Reports to the Board
December 20: Handling Government ACH Payment Returns & Reclamations
January 8: Compliance Training for the Frontline
January 9: Record Retention & Destruction Rules: Paper & Electronic
January 10: Regulator Issues & Update for the Credit Analyst
January 14: IRA & HSA 2019 Update, Including Tax Reform Considerations
January 15: FFIEC Exam Procedures for Business Continuity
January 16: 2018 HMDA Submission Due March 1, Part 1: Identifying Reportable Loans, Data Integrity & FIG Analysis
January 22: Successful Skip Tracing Techniques for Locating Borrowers & Recovering Collateral  
January 23: Determining Cash Flow from Personal Tax Returns After 2018 Tax Reform Part 1: Schedules A, B & C  
January 24: 2018 HMDA Submission Due March 1, 2019, Part 2: Requirements, Clearing Edits, Exempt Fields & More
January 29: Real Estate Loan Collection Rules for Lenders & Mortgage Servicers
January 30: Analyzing Financial Statements for the Credit Analyst
January 31: Frontline Fraud Prevention: Stopping Fraud at the Teller Line

For a complete listing of educational opportunities available from LCUL, visit the League website.
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(800) 452-7221   www.lcul.com