Keeping you connected to key credit union news, events, and trends: July 24, 2019
In This Issue
Headline News

See You Soon, Louisiana Credit Unions!
Melanie Spring, 2019 Keynote Speaker, has a special message for those attending LCUL's annual meeting & convention next week. Join Melanie and other incredible speakers from both inside and outside of the industry are prepping to make this an unforgettable experience!


One Week Away: LCUL Brings the FUN Yet Again!
Aside from the dynamic education sessions we're offering this year, attendees have the opportunity to gather with their peers in a number of different settings and gain invaluable insight from one another.

Friday Night Event presents Family Game Night!
When we say 'Family Game Night', we mean just that. Get ready for games like Hungry Human Hippo and one of the biggest Twister mats you've ever seen.  Come dressed as your favorite character or game piece from a classic board game. Not sure where to start? Then come decked out in your chapter color, because at the end of the day that's our credit union family, right? Below are your assigned colors so get creative! 
  • Shreveport/Monroe/Alexandria Chapters: Team Blue
  • Baton Rouge Chapter: Team Yellow
  • Lafayette/Lake Charles Chapters: Team Red
  • East Orleans/West Orleans/Tri-Parish Chapters: Team Green
Community Outreach Project
Children's Hospital uses thousands upon thousands of band aids each year so LCUL started the annual band aid drive three years ago. We encourage attendees to once again donate a few boxes near the CULAC booth.  To spread the love around the state, donations this year will be heading to Alexandria's Children's Hospital!

 YPN Silent Auction: We're Stepping Up Our Game and Going Digital
 The Young Professionals Network (YPN) will once again host an incredible Silent Auction with all proceeds being evenly split between the Louisiana Foundation and the YPN for scholarships.  This year, the auction includes an exciting new online bidding component. Everyone (even those unable to attend convention) will have the opportunity to place bids on items, which will also be on display for anyone that would like a closer look. Were you out bid on an item last year? No need to worry as you will receive a text message if someone out bids you. Let the bidding wars begin!
 
Rise and Shine...and Stretch!
By Friday morning, you're already half way through the convention schedule with so much more still to come. Take the time to re-charge and jump start your day with 30 minutes of Yoga with Sundeep Kapur. After a little stretching, meditation, and deep breathing, you'll be ready for the full day ahead. Whether you're a Yoga expert or brand new to the discipline, we encourage you to re-charge and center yourself. Trust us, by the end of the night, you'll be glad you did!

Click here to download the 2019 Convention brochure!
 
Questions? Contact the League's convention team today!
FASB Proposes Delay of CECL Implementation to Jan. 2023
The Financial Accounting Standards Board (FASB) agreed to propose a one-year delay in the implementation date for the current expected credit loss (CECL) standard for credit unions. The proposed changes would move it to January 2023 from the currently scheduled January 2022.

 CECL is a new accounting standard that uses an expected loss measurement for the recognition of credit losses.

Click here to continue reading.
2020 CUNA Diamond Awards Submissions are OPEN!
The CUNA Marketing & Business Development Council Diamond Awards entry portal is open now for credit unions to submit nominations to recognize and reward creative excellence and outstanding results.

With 35 categories, more than 1,200 entries, big bling, and bragging rights, now is the time for marketing professionals to begin their entries and work on them as campaigns are underway. At the 2019 CUNA Marketing & Business Development Conference, Diamond Awards were awarded to many Louisiana credit unions. Now it's your turn to add your name to the list.
The early bird deadline is Dec. 20, 2019. The final entry deadline is Jan. 10, 2020. For entry details, click here .
CUNA Mutual Group

July 2019 CU Trends Report Now Available
CUNA Mutual Group's CU Trends Report for July 2019 is now available online and can be accessed in the resources section of our website, under Performance and Data Resources.

During May, credit unions picked up 367,000 in new memberships and loan and savings balances grew at a 5.7% and 6.2% seasonally-adjusted annualized pace, respectively. Firms hired 72,000 workers, nominal consumer spending increased 0.4% and long-term interest rates fell 0.13 percentage points. Consumers are feeling confident about their future financial conditions and will keep the economy moving forward through 2020. 
   
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 Danielle Thibodeaux at (800) 452-7221, ext. 3018 or [email protected] .
Young Professionals Network

Lake Charles YPN Host Meet-Up
On Tuesday, July 16 Lake Charles Young Professionals Network members came together for an evening of networking. They also discussed upcoming YPN initiatives such as the Silent Auction, book reading during International Credit Union Week, and the fall Bootcamps. Thank you to all of the members who came out for the event!  
Have you Heard?

University of Louisiana FCU Selected as Winner of CUNA National Youth Challenge
The majority of Americans are not saving enough, and the credit union movement is dedicated to reversing this trend. The National Youth Saving Challenge, held in conjunction with National Credit Union Youth Week and sponsored by CUNA, encourages youth members to set goals and save money. Young members deposited more than $15 million into their savings accounts during this year's savings challenge.

Results for 2019 were reported by 108 credit unions who participated in the challenge, sponsored by Fiserv and CUNA. Credit unions nationwide announced opening 3,746 youth accounts during April with more than 43,000 young members depositing funds.

University of Louisiana FCU was randomly selected as the winner of the $1,000 grand prize. The credit union will award 10 young members $100 each.

Learn more and join next year's challenge  in April 2020.
La Capitol FCU Promotes Blackwell to Regional Manager
La Capitol FCU has named Judith Blackwell as Baton Rouge Regional Manager. As regional manager, Blackwell works with La Cap's Baton Rouge area branch managers on operations, with oversight of goal and strategy accomplishment for each branch. She also works with La Cap's business development section to develop, maintain and execute a territory plan for membership growth. 
 
Blackwell previously served as manager of the credit union's Main Street branch and will continue to perform those duties. She is a Baton Rouge native, with almost 40 years of experience in the banking industry. She has served at La Cap since 2007.
Quote of the Week:
"Optimism is the one quality more associated with success and happiness than any other."
- Brian Tracy

Educational Calendar
Upcoming Conferences & Seminars from your League:

July 31-August 3: LCUL Annual Meeting & Convention
August 22: Mortgage Lending Made Easy 
September 18-19: Marketing & Business Development Conference

Upcoming Teleconferences & Webinars from your League:
 
July 24:  Outsourcing Tech Services
July 25:  What Are Those Business Tax Returns Telling Me?
July 30:  Opening Accounts Online: Rules, Risks & Best Practices
July 31:   20 Common Mistakes in Consumer Collections
August 1:  IRA Series:
IRA Reporting, Common Issues & Error Resolution
August 6:  Adverse Action in Mortgage Lending: Compliance, Notices & Best Practices
August 7:  Official Demands Part 1: Handling Subpoenas, Summonses & Other Legal Process
August 8:  New Security Officer Training: Responsibilities, Best Practices & Skill-Building Tools  
August 13:  Advanced Financial Literacy Update for New & Experienced Directors:
ALM Primer & Financial Accounting & Risk Issues
August 14:  FFIEC Cyber Security Risk Assessments: Policy, Recent Findings & Recommendations
August 15:  E-Compliance Rules, Policies & Best Practices for Email, Web, Mobile & Social Media
August 20:  Reg E Series:
How to Handle Unauthorized Electronic Fund Transfers Under Reg E
August 21:  Call Report Series:
The Financial Statement Audit Process
August 22:  Developing the Right Strategic Plan for Your Credit Union
August 27:  Opening Donation, Memorial & Other Accounts for Nonprofit Organizations & Corporations
August 28:  IRA Series:
Top 10 Most Misunderstood IRA Issues: Turning Confusion into Confidence
August 29:  Effective Management of Credit Report Disputes: Completing ACDVs, AUDs & Correcting Joint Credit

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