Keeping you connected to key credit union news and trends: November 18, 2020
|
|
Registration Open for FiCEP Class of 2021
|
Registration is now open for the 2021 Enhanced Certified Financial Counselor Program (FiCEP). If you have considered becoming certified in the past but kept putting it off, 2021 is the perfect time to commit. Not only are more members looking for financial guidance than ever before, but CUNA has also streamlined the process by shortening the length of the textbook and reducing examination requirements from two tests to only one!
By enrolling in LCUL’s class of 2021, in addition to the textbook, you will also receive
- 8 interactive webinars that reinforce important concepts and add relevant examples.
- 8 study guides for each webinar with answer keys to aid retention for exam preparation
- Takeaway toolkit with counseling resources
- Exam preparation session with last chance Q&A with instructor
- Instructor led training day to aid program implementation
Over 500 Louisiana Credit Union Professionals have already completed the program and earned their Credit Union Certified Financial Counselor (CCUFC) Designation to help members achieve financial health.
|
Remind Your Members, Small Business Owners About Louisiana’s Tax Free Weekend, November 20-21
|
The Louisiana Legislature unanimously approved legislation creating a one-time state sales tax holiday this weekend, November 20–21, to provide relief for Louisiana residents recovering from Hurricane Laura, Hurricane Delta, and the COVID-19 pandemic.
According to the fiscal note for House Bill 26, “The proposed holiday has the same applicability as the currently suspended Louisiana Annual Sales Tax Holiday, which is typically held during the first weekend in August.” Louisiana suspended its three annual sales tax holidays in 2018 to prevent the state from falling off a fiscal cliff. The annual tax-free periods aren’t scheduled to resume until June 30, 2025.
During the sales tax holiday, the state's 4.45% sales tax will not be charged on the first $2,500 of most consumer (not business) purchases of items. Motor vehicle sales and purchases of meals (either to eat-in or to-go) don't count and will still be charged sales tax.
|
LCUL Submits Comment Letters to Agencies
|
LCUL distributed a Pelican Politics yesterday highlighting the recent comment letters that we have submitted on Supervisory Guidance and Derivatives Rule. A sample letter was also provided for credit unions to submit comment to the NCUA on Supervisory Guidance.
|
|
Upcoming Conferences from your League:
|
November 19: New 2021 Nacha Rules: Impact, Analysis & Deadlines
November 23: Leading a Remote Workforce
November 30: Handling Formal & Informal Trust Accounts: CIP, Documentation & Compliance
December 1: Using Notary & Corporate Seals Accurately
December 2: Avoiding BSA Compliance Violations
December 3: Annual Loan Review: Consumer, Commercial & Residential
December 7: Top 10 Year-End Lending Issues & FAQs
December 8: Top IRA SECURE Act & COVID Rule Changes for 2020 Tax Year
December 9: Recent Reg CC Changes: Lessons Learned & Future Outlook
December 10: Legal Issues Surrounding Subpoenas & Summonses
December 14: Major Changes to Fair Debt Collection Practices Act
|
For a complete listing of educational opportunities available from LCUL, visit the League website.
|
|
Virtual Mortgage Loan Originator Training
|
|
Louisiana mortgage loan originators are invited to participate in this annual training with compliance attorney Michael Christians hosted by the Mississippi Credit Union Association on December 7 & 8. Over the course of two half day sessions, participants will get a better understanding of the regulatory and compliance issues that impact the mortgage origination process from the application all the way through to servicing. New Loan originators, as well as those looking to satisfy their periodic training requirement under Regulation Z would benefit from attending this virtual course.
|
|
Reminder: WEbinar tomorrow on How to Avoid Compliance Risks & Improve Your Overdraft Strategy
|
|
Webinar: Thursday, November 19 at 2:00 pm CT
The regulatory landscape continues to change. When it comes to meeting your members’ service needs and expectations, it’s imperative not to take any chances on regulatory and compliance expectations. In this session brought to you by John M. Floyd & Associates, you’ll learn about the necessary precautions to mitigate your risk of potential legal issues, best practices for communicating with members to improve service delivery, and guidelines for successfully managing your program.
|
|
WBRT Federal Credit Union Board Chair Passes Away
|
|
It is with great sadness that WBRT Federal Credit Union announces the passing of their Board Chair, Wilhemenia W. Decuir. Mrs. Decuir was a credit union member for over 60 years, prior to becoming Board Chair in 2014, she served as Chair of the Supervisory Committee and as the Board Secretary.
Mrs. Decuir was an exceptional visionary leader not only at WBRT FCU but in any endeavor she found herself involved in. She proudly represented WBRT FCU at various credit union events such as LCUL Annual Conventions, Workshops, Conferences and Membership Drives.
She was very dedicated and passionate about the growth and development of WBRT FCU. She was always ready and willing to serve the credit union in any way. The credit union looked forward to Mrs. Decuir adding her own "personal touch of sophistication and style" to any project she was engaged in.
|
|
Meritus CU Announces Promotion of Amy D. Simon to EVP & Cinnamon Beaugh to VP
|
|
Meritus CU is proud to announce the promotion of Amy D. Simon to Executive Vice President and Cinnamon Beaugh to VP of Operations. Simon has been with the credit union for 8 years, previously serving as Accounting Manager and Chief Financial Officer. In her new role, she will be leading Accounting, Operations and Human Resources. Similarly, Beaugh has been with the credit union for 13 years, previously serving as Operations Manager and Iberia Branch Manager. In her new role, she will be leading all branch operations, training and call center.
“I am thrilled to have such talented professionals on our senior management team,” said Brian Leger, Meritus Credit Union CEO/President. “Both Cinnamon and Amy are strong leaders and will guide our credit union toward even greater success.”
|
|
Pelican State Credit Union Promotes Jessica Sharon to Assistant Vice President of Financial Outreach
|
|
Pelican is pleased to announce the promotion of Jessica Sharon to the position of Assistant Vice President of Financial Outreach. Jessica Sharon leads many impactful credit union initiatives including Pelican’s financial outreach, grant programs, School Pride Debit Cards, and so much more.
In 2019, Jessica was named Pelican’s Employee of the Year and a CUNA Credit Union Rockstar. She is the heart behind the service projects the credit union completes during its annual Family Reunion event each year.
Jessica delivers professional speaking engagements across the country, is frequently interviewed by the news media and industry publications, and is a quarterly contributor to CU Insight Magazine.
|
|
Campus Federal Sponsors Community Blood Drives in Baton Rouge and Shreveport
|
|
Campus Federal sponsored community blood drives in two of its markets on Friday, October 30 to help restore severely low inventory levels due to the impact of COVID-19 causing an unprecedented number of blood drive cancellations. All blood collected at the blood drives stay within the communities.
In Shreveport, Campus Federal partnered with LifeShare Blood Center to host a blood drive at LSU Health Shreveport and LSU Shreveport campuses. Campus Federal members and employees donated 12 pints of blood between the two locations. In Baton Rouge, Campus Federal partnered with Our Lady of the Lake Blood Donor Center to host a blood drive at the Campus Federal Perkins Road and Campus Federal South Quad Drive Branches. Campus Federal members and employees donated 32 pints of blood between the two locations.
|
|
Quote of the Week:
“Life is like riding a bicycle. To keep balance you must keep moving."
- Albert Einstein
|
|
|
824 Elmwood Park Boulevard,
Suite 200, Harahan, LA 70123
(800) 452-7221
|
|
|
|
|
|
|