LCUL joined CUNA and its sister leagues and associations on a joint letter to the Federal Communications Commission (FCC) regarding clarifications on the Telephone Consumer Protection Act's (TCPA) applicability to information calls made to wireless phones. These clarifications include adopting an established business relationship exemption from prior consent or by exempting credit union informational calls or texts from the prior consent requirement.

 

Currently, credit unions can contact members at home via landline connections without prior consent from the member. However, if the call is taken at home on a cell phone, there is an entirely different set of rules. By calling a wireless device without prior consent, under the current TCPA and FCC standards, this opens credit unions up to class-action litigation. The different treatment of informational calls to cell phones and landlines is antiquated, unfair, and fails to reflect how most consumers communicate today. Adoption of either of the Petition's proposed exemptions would restore the balance that Congress sought to achieve between consumers' privacy interests and the legitimate interests of businesses to communicate with their consumers.

 

Click here to view the signed letter.

There has been a great deal of media attention about what the bankers are calling "credit unions buying banks" with attention sparking national conversation. In our recent issue of Pelican Politics, LCUL shared a special update from strategic partner Dollar Associates LLC providing the most complete and accurate explanation of the issue. To access this information, please email our communications department.

CUNA Mutual Group's Credit Union Trends Report for February 2020 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 December, credit unions picked up 203,000 in new memberships and loan and savings balances grew at an 7.6% and 9.9% seasonally-adjusted annualized pace, respectively. Firms hired 147,000 workers, nominal consumer spending increased 0.3% and long-term interest rates increased 5 basis points. The economy grew 2.1% in the fourth quarter and 2.3% over the last year.

 

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 Louisiana Credit Union League, please contact Danielle Thibodeaux at (800) 452-7221, ext. 3018 or [email protected].

Our 2020 Credit Union Connect conference is coming up on March 13th in Baton Rouge. 

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Data and technology are changing the way we interact with consumers. Though it's difficult, if credit unions want to compete, they must build smart, product-driven experiences for both cross sell and account acquisition.

MemberXP, a solution of CU Solutions Group, has named La Capitol Federal Credit Union one of their 2020 Best of the Best award winners. This year, La Cap won three categories: Best Member Experience, Best Loan Experience and Best Transaction Experience.

 

The prestigious Best of the Best award is granted each calendar year to credit unions that have consistently provided exceptional member service. Only one in five of the highest-performing credit unions utilizing the MemberXP platform are given this honor. The Best of the Best award is independently granted by MemberXP based on specific criteria, including member service and ease of use.

 

"Providing our members with extraordinary service is a priority for La Cap," said Michael Hooper, President and CEO of La Capitol Federal Credit Union. "Our more than 47,000 members located across the state deserve a financial institution that respects them and works in their best interest. I am proud of the La Cap team for making that happen for our members."