Keeping you connected to key credit union news, events, and trends: January 22, 2020
In This Issue
Headline News

YPN, Louisiana Foundation Announce Winner of Annual DE Scholarship; LCUL to Offer Opportunity to Two Lucky Applications
2020 CUDE Scholarship Annoucement
LCUL, the Young Professionals Network (YPN), and the Louisiana CU Foundation is pleased to announce that Jessica Nugent (Ouachita Valley FCU) is the winner of a full scholarship to attend Credit Union Development Education (CUDE) in Madison in 2020.
 
Working in partnership, the annual scholarship is awarded to help reinforce, understand and value the differences in the credit union business model. After completion of the program, the scholarship recipient will prepare a brief summary of his/her educational experience to share with the Foundation and YPN.
 
Because of the overwhelming number of applicants, LCUL is excited to offer a partial scholarship to the second and third place applicants.  Armand Parvazi (New Orleans Firemen's FCU) and Abby Warnka (First Pioneers FCU) will have the opportunity to attend this one of kind training at half the cost.

"Focused on financial education and professional development initiatives, LCUL is dedicated to providing the resources for credit union professionals to prosper and thrive. We are thrilled at the level of excitement and happy to be able to offer this opportunity to Armand and Abby," commented Bob Gallman, LCUL President/CEO.
 
For more information on the CUDE program, please visit the National Credit Union Foundation web site.
LCUL President/CEO Responds to Latest LBA Attack on Credit Unions
Last week,  Robert Taylor, CEO of the Louisiana Bankers Association (LBA), pushlished an op-ed titled 'credit unions should pay their share of federal taxes', urging congress to 'bring credit unions into the 21st century with fair taxation and regulation that protects the public'. Due to the local coverage focusing on the national championship, LCUL submitted a response earlier this week to ensure a greater visibility. Click here to read the article .

In our response, LCUL President/CEO Bob Gallman reminded readers that credit union earnings are returned to member owners, who are taxpayers themselves. Therefore, taxing credit unions is an additional tax on 119 million Americans, including 1.2 million credit union members in Louisiana.

In the article, Taylor also questions why credit unions are exempt from the Community Reinvestment Act, a law requiring banks to invest and serve their communities. Gallman stated that through their very structure and mission, credit unions invest in the communities they serve every single day.

We will continue to monitor the different media channels and take proper action. For more information, please contact Lacey Weaver, SVP of Member Engagement.  
Shared Branching

CUCB, CO-OP Shared Branch Continue to Grow
The CO-OP Shared Branch network continues to grow and for the first time credit unions now have the largest branch network in the country with over 5,900 locations nationwide.  

CUCB would like to contribute to the growth by adding more outlets to our network.  If you are an issuer only credit union, consider becoming an acquirer.  CO-OP offers an affordable acquirer solution called CIMple Teller for any credit union whose Core is not certified to the acquirer side of the CO-OP Shared Branch switch.   

Contact us today for more information!
Business Solutions

How Do You Make Your 2020 Vision a Reality?
jmfa
John Cohron, JMFA CEO, outlines how you can effortlessly fulfill your 2020 vision by delivering exceptional services for your account holders, elevating your staff and increasing your bottom line.

Have you Heard?

Maple FCU Service in Action
On January 20, Martin Luther King Jr. Day, the staff of Maple FCU joined the Lafayette Chapter of Military Families Ministries (MFM) to throw a Valentine's party for 900 troops. The mission of MFM is "to support and encourage service members and their families".
 
Maple FCU originally hoped to collect enough donations to send to 50 people, but three days prior to their service day they rose to the challenge to support 900 troops.
 
Michele Comeaux, a coordinator with MFM, received a call with a special request to get a Valentine's "party" ready for 800 Special Forces troops that were called to Kuwait with only 18-hour notice to deploy.  When they arrived in Kuwait their accommodations were not available and they've been "fit" into whatever space that could be found. Their morale has been seriously down and the chaplain immediately sought the help of MFM.
 
Heading the call, Maple FCU was able to collect enough donations to put together 900 bags of snacks, candy, drink packets and Valentine's cards along with popcorn and candy for a sweet treat party!  The staff rose to the occasion and tackled this tremendous task and everything is ready to be shipped to Kuwait ahead of schedule.
 
"There is no way we could ever repay the debt of gratitude to our soldiers for all of the sacrifices they make for us, but it has been such a pleasure partnering with Michele and MFM to provide our heroes with a little love and comfort from home.", said Pamela Stelly, CEO of Maple FCU.
Quote of the Week:
"Identify your problems but give your power and energy to solutions. "
- Tony Robbins

Educational Calendar
Upcoming Conferences & Seminars from your League:


February 11: Understanding Key Ratios
March 12: FREE Asset Roundtables
March 13: Credit Union Connect
March 20: BSA Officer Training

Upcoming Teleconferences & Webinars from your League:

January 23: 2020 IRA & HSA Update, Including IRA Provisions Under the Secure Act
January 28: Governance for Volunteers
January 29: Advanced Issues in Dormant Accounts, Unclaimed Property & Escheatment
January 30: Deposit Account Series: UCC 3 & 4 Check Issues: Stop Payments, Postdated, Stale-Dated & Endorsements
February 4: Action Plan for Reg CC Rule Changes Effective July 1, 2020
February 5: ACH Tax Refunds: Exceptions, Posting & Liabilities
       February  6: Diversity Self-Assessment: Regulatory Guidance & Best Practices
February 7: Effective Time Mastery: Working Smarter, Not Harder
February 11:  Using the FPR to Improve Credit Union Performance
February 12:  Commercial Lending Series: Commercial Loan Documentation
February 13:  Electronic & Imaged Documents: What to Keep, What to Destroy, What Holds Up in Court
February 18:  Deposit Account Series: Banking Cannabis Businesses: Hemp, CBD, THC & More
February 19:  Qualifying Borrowers Using Personal Tax Returns Part 1: Form 1040 & Schedules B & C
February 20:  Harassment Claims in a #MeToo World
February 24:  Nonresident Aliens: New 2020 Tax Reporting Rules, CIP, CDD & More
February 25:  Deposit Account Series:  Deposit Operations Update 2020
February 26:  Managing Force-Placed Mortgage & Auto Insurance
February 27:  HELOC Compliance: Disclosures, Documentation, Advertising, Amending & More
                             
For a complete listing of educational opportunities available from LCUL, visit the League website.
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(800) 452-7221   www.lcul.com