Keeping you connected to key credit union news, events, and trends: August 21, 2019
In This Issue
Headline News

Confused by Cannabis Laws? LCUL Can Help


Confused by Cannabis Laws?  You're not alone. It's the hottest topic on the Louisiana Credit Union Legal landscape but somewhere in between the Federal Controlled Substances Act, the DOJ's Prosecution Polices and Louisiana's Medical Marijuana Act there lies the balance of information you need to know to set your credit union's policies. During our New Laws and Compliance Conference on October 9-10, Ed Reisinger of Kudulis, Reisinger and Price will help you sort it all out and set you on the right path.
 
Ed's session will cover the fundamental regulatory concepts, employee risks and challenges that affect your HR polices, and best practices for account opening. We'll cover all the frequently asked questions and give you the tools to best explain these issues to your members and your board. This topic will surely be a hot one in our peer-to-peer open forum session as well. So come armed with your questions, concerns and "what if" scenarios to discuss with the group.
 
Want to know what else we'll be covering at this year's conference?  Cybersecurity, the Dark Web, the SCRA, Emerging Risks and much more.  Click here to see the full list of topics and register today!
Huge Victory in NCUA Field of Membership Challenge
The D.C. Circuit Court of Appeals issued an opinion yesterday upholding almost all portions of the NCUA's field of membership (FOM) rule, which had been challenged by American Bankers Association.

 In the ruling, the D.C. Circuit Court of Appeals overturned a previous opinion by U.S. District Court for the District of Columbia, thereby allowing credit unions to serve Combined Statistical Areas of up to 2.5 million people and rural districts with up to 1 million people. The circuit court left intact the lower court's holding that allowed credit unions to serve adjacent areas, but asked the NCUA to provide additional explanation for the removal of a requirement to serve the "core" of a Core-Based Statistical Area, which NCUA should be able to remedy by providing additional information to the District Court.

 NCUA finalized its FOM rule in October 2016, and the American Bankers Association sued the agency in December 2016. The U.S. District Court of the District of Columbia ruled in March 2018, upholding two challenged portions of the rule and striking down two provisions.

 Click here to read more.
Share the Love! New Video Reminds Members, Consumers About the Good Work Louisiana CUs are Doing   
During the closing ceremonies of LCUL's 2019 Annual Meeting & Convention, we shared a video explaining the credit union difference while highlighting the great work of Louisiana credit unions this past year. Please feel free to share this video with your members via your website, social media pages and any other communication channels.
 
Free Hot Topic Webinar from CU Webinar Network Available
The CU Webinar Network is offering a free recording of the webinar, "The Dark Web & Your Credit Union: Impact, Risks, Strategy" to LCUL members.

The Dark Web has become synonymous with cybercrime and criminal forums designed to buy and sell information and stolen goods and advertise nefarious services. It is a component of the internet that is accessible in a different manner than normal browsing. The difference is in large part due to the use of anonymizing software designed to maintain the privacy (and secrecy) of the person using the Dark Web. This session will cover Dark Web fundamentals, how it functions, who uses it, and what financial institutions need to know to mitigate its risks.

Listen to the free webinar until December 31, 2019. Click here to listen.
News from CUNA Mutual

August 2019 CU Trends Report Now Available Online
CUNA Mutual Group's Credit Union Trends Report for August 2019 is now available on our website.

During June, credit unions picked up 381,000 new memberships, loan balances grew at a 5.2% annualized pace, firms hired 193,000 workers, nominal consumer spending increased 0.3% and long-term interest rates fell 33 basis points. Second quarter economic growth came in at 2.1%, slower than the 3.1% reported in Q1.
 
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, please contact Danielle Thibodeauxat (800) 452-7221, ext. 3018 or [email protected] .
Have you Heard?

Kraftman FCU 2nd Annual Back to School Sno-cone Celebration
On August 9, E. Madison Ave. in Bastrop was THE place to be. Employees from Kraftman Federal Credit Union were stationed in front of The Snow Bungalow from 2-4 p.m. and passersby were treated to a FREE sno-cone, courtesy of Kraftman FCU. Children were able to fill out tickets to have their name included in a raffle drawing for a back pack filled with school supplies, also courtesy of Kraftman FCU.

Approximately 100 free sno-cone tickets were passed out along with flyers promoting savings accounts at Kraftman FCU.
Campus Federal Volunteers Help Support Franciscan Missionaries of Our Lady 2019 Haiti Food Drive
Campus Federal provided volunteers and tents for the Franciscan Missionaries of Our Lady North American Region 2019 Haiti Food Drive to help collect and organize food, medical and school supplies on behalf of the Haiti Healthcare Project. In addition to five pallets of medical donations coordinated by Logistics 1, the volunteers and hospital team members collected approximately 3,000 pounds of rice and beans, a dozen large boxes of dry milk and formula, along with a dozen large boxes of school supplies. The 40' container is being shipped and delivered to a Children's Hospital in Haiti to replenish their depleted supplies.
 
For more information about the Haiti Healthcare Project visit www.fmolsisters.com/haiti-project.
Quote of the Week:
"Leadership is about making others better as a result of your presence and making sure that impact lasts in your absence."
- Sheryl Sandberg 

Louisiana CUs in Action: Share It With Your Members!
Educational Calendar
Upcoming Conferences & Seminars from your League:

August 22: Mortgage Lending Made Easy 
September 18-19: Marketing & Business Development Conference
October 9-10: New Laws & Compliance Conference
November 20-21: IRA Essentials/Advanced with Ascencus

Upcoming Teleconferences & Webinars from your League:
 
August 27:  Opening Donation, Memorial & Other Accounts for Nonprofit Organizations & Corporations
August 28: Top 10 Most Misunderstood IRA Issues: Turni ng Confusion into Confidence
August 29:  Effective Management of Credit Report Disputes: Completing ACDVs, AUDs & Correcting Joint Credit
September 4:  Official Demands Part 2: Handling Garnishments, Levies & Judgment Liens
  September 5:  Auditing E-Policies & Procedures: Risks, Rules & Records  
September 10:  Managing Minor Accounts: Withdrawals, Transfers, & Best Practices
September 11:  Conducting the 2019 ACH Audit
September 12:   Mortgage Lending Hot Spots Series:
Appraisal & Evaluation Guidance on Collateral Valuation
September 16:  New Compliance Officer Boot Camp
September 18:  Regulation E Series: Auditing for Reg E Compliance
September 19:  Emerging Trends & Developments in Online, Mobile & Digital Channels
September 24:   Mitigating a Data Breach: Forensics & Incident Response
September 25:  Hiring in the Digital Age: What Every HR Manager Needs to Know About Social Media
September 26:  What Directors Should Know About CECL, ALLL & the New Credit Impairment Standards

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