Keeping you connected to key credit union news and trends: December 9, 2020
Headline News
Letlow Wins 5th Congressional District Seat
Credit union-supported Luke Letlow was named the winner of Saturday’s runoff election for Louisiana’s 5th Congressional District. LCUL through its PAC, the Credit Union Legislative Action Council (CULAC), and CUNA supported Letlow, who defeated fellow Republican challenger Lance Harris with 62% of the vote.

Letlow will succeed retiring Rep. Ralph Abraham (R), for whom he served as chief of staff.

Letlow’s victory brings the number of credit union-supported candidates to win in the 2020 election to 387, more than a 96% success rate.
It Takes a Survivor to Lead the Way in 2021
Leadership is not a game, but certified speaking professional Holly Hoffman is an expert game player who learned how to outwit, outplay and outlast her opponents on Survivor Nicaragua in season 21 of the hit show. Her leadership skills paved the way for her to become the last remaining member of her tribe and on January 26, 2021 at 9 am, she will share her easy framework for “Leading Simply” with all of us.

In this 75 minute motivational presentation, Holly will use experiences and lessons learned from her time on Survivor to showcase the simplicity of the framework of leadership in just 3 easy steps:
  • Model
  • Connect
  • Involve

True leadership is not just words, it is action. We must model the behavior we want to see, connect with the people you lead and involve them as much as possible. The ways in which we model, connect and involve our people may have changed in the past year, but as Holly will show, the basics of leading your team remain the same. Holly’s dynamic energy and enthusiasm will have you excited to start the new year with a renewed passion for leadership!


Note: LCUL’s Virtual Committee Conference will follow this session. Those who currently serve on the CULAC, Foundation, Legislative, MBSC and YPN committees will be automatically registered for this session and will receive the link and meeting details via email. 
House Passes NDAA with Language Addressing BSA Redundancies
The House voted Tuesday evening to pass the conference report of the fiscal year 2021 National Defense Authorization Act (NDAA). The bill will head to the Senate floor for a vote, expected later this week.

The bill eliminates redundancies, unnecessary burdens and creates opportunities for efficiencies within the Bank Secrecy Act/Anti-Money Laundering statutory framework, which CUNA supports. It also includes a study to review the current thresholds for Currency Transaction and Suspicious Activity reporting.

Additionally, the final bill does not contain a provision related to leases on military bases CUNA, Leagues and the Defense Credit Union Council fought to exclude what would have expanded an exemption for certain cost waivers for financial institution branches on military installations.
Educational Calendar
Upcoming Conferences from your League:
Upcoming Webinars: 
December 10: Legal Issues Surrounding Subpoenas & Summonses
December 14: Major Changes to Fair Debt Collection Practices Act
December 15: Year-End BSA Issues: FAQ Guidance, Enforcement Actions & Red Flags
December 16: Avoiding Loan Denial Mistakes
December 17: How to Review Legal Documents: POAs, Trusts, Guardianships, Estates & More
January 5: Call Report 2021 Update, Including COVID’s Impact & Top 10 Errors
January 6: Uniform Residential Loan Application (URLA): Deadline March 1, 2021
January 7: Providing Provisional Credit Under Reg E
January 12: IRA & HSA Update: Key Considerations for 2021
For a complete listing of educational opportunities available from LCUL, visit the League website.
Shared Branching
Louisiana's CU Cooperative Branching Pays Year-End Dividend to Shareholders
The Board of Directors of CU Cooperative Branching, LLC (CUCB), Louisiana's shared branching CUSO, has approved a 1% dividend payable to eligible shareholders as of January 1, 2020. This one-time dividend payout is a sign of the success this company has attained since its formation.

“The events of this past year have demonstrated that shared branching remains a dynamic benefit of credit union membership. We hope that the 2020 dividend, along with the recent COVID-19 rebate, reflects our efforts to enhance the credit union's investment in the network,” commented Jeff Conrad, Pelican State CU CEO and CUCB Board Chair.
Business Solutions
Transfund offers contactless solutions for your cardholders
TransFund has been partnering with credit unions to deliver an EFT processing program with best-in-class customer service for more than 45 years. Is it time for you to consider the TransFund advantage? Below are a few reasons why you should switch to a new debit card processor. 

  • All TransFund Conversion Costs are Waived
  • Contactless Cards will be Included
  • Pricing is Locked
  • Turn-Key Instant Issue
  • Reissue the Portfolio, or Simply Move it Over
  • Maximize Non-Interest Income
  • Custom Cards, Every Time
  • Complete Marketing Support
  • Credit Card Programs
  • Excellent Fraud Management Tools   
  
For a no-obligation program analysis and pricing proposal, contact Trish Gosnell today at pgosnell@transfund.com or visit www.transfund.com for more information. 

TransFund is a member of the Louisiana Credit Union League STAR program, which offers committed service organizations an opportunity to increase visibility among Louisiana credit unions.
Young Professionals Network
YPN Hosts 4th Annual Boot Camp Virtually
In November, the Young Professions Network hosted their annual YPN Boot Camp event virtually for the first time. Over 30 credit union professionals attended one of the two sessions!

CEO of Maple Federal Credit Union Pamela Stelly shared wisdom and the CU difference while also hosting interactive group breakout discussions. The presentation was engaging, and many ideas were shared among the group!
Have You Heard
Ina Burchett Retires from Acadiana Medical FCU
Acadiana Medical Federal Credit Union would like to recognize Ms. Ina Burchett for over 23 years of hard work, dedication, and her commitment to the credit union. Ms. Ina semi-retired after being manager of AMFCU for 17 years and stayed on part-time for another 5 years. 

During her time of service to the credit union, Ms. Ina has touched many lives. She will be missed by her fellow co-workers, Board members, and the members of AMFCU. 
Pelican State Credit Union Promotes Sarah Barnett to AVP of Business, Mortgage, and Card Services 
Pelican State Credit Union is thrilled to announce the promotion of Sarah Barnett to the position of Assistant Vice President of Business, Mortgage, and Card Services.

In 2017, she was named Pelican’s Employee of the Year and took leadership of the credit union’s Mortgage Department. Under Sarah’s guidance, the Mortgage Department set performance records.

Sarah’s level of organizational engagement in the day-to-day operations of her team allowed her to make solid and quick decisions as the credit union navigated through the challenging times of COVID-19. Her insights and leadership had a direct impact on the success of the credit union.
Quote of the Week:
“Leverage the strength that you have: that no one else can be you."
- Todd Wheatland