Keeping you connected to key credit union news, events, and trends: September 30, 2020
In This Issue
Headline News

Hurricane Laura: One Month Later
Hurricane Laura made landfall in Lake Charles one month ago this week. It simultaneously feels like just yesterday for some and ages ago for others. So much has happened in those few short weeks. The collaborative credit union spirit could immediately be felt in so many ways starting with shared branching making it easy for displaced members to access their accounts. Credit Unions that escaped the storm's path stepped up by hosting displaced peers allowing them to set up shop temporarily in their facilities. There were countless acts of credit unions supporting each other including Meritus FCU hosting McNeese FCU; Neighbors FCU hosting Southwest Louisiana CU; Section 705 FCU hosting Firestone Lake Charles FCU; CSE FCU hosting Calcasieu Teachers & Employees CU. A few credit unions organized teams of volunteers for cleanup and we are certain there are random acts of kindness we don't even know about yet.
 
The devastation is still massive and it appears as if no home was unscathed. Homes have entire walls blown away, roofs are gone and replaced by a sea of blue-tarp, large trees are wedged on top of or inside homes and twisted sheet metal lines the highways. "The road ahead for so many of our credit union peers and members is long and we will continue to stand with them every step of the way. The resilience and resolve they are exhibiting while rebuilding their community is absolutely inspiring", said Bob Gallman, CEO of LCUL. 

In the rebuilding process, even the smallest words of encouragement can make a huge difference. If you haven't had the chance yet, take a look our current LCUL facebook post and add your message of support to our Lake Charles credit unions in the comments. If you are an employee who suffered damage to your home we are still accepting applications for the final round of grants until Friday, October 16th. If you would like to donate to the rebuilding efforts, the donation link has no expiration date.  Click here to access both the grant and donation links.
Hunter and Wallace Names 2020 CU Rockstars
Congratulations to Louisiana's own James Hunter with New Orleans Firemen's FCU and Anna Wallace with Pelican State CU who were recently recognized as winners of this year's Credit Union Rock Star awards!

Recognized annually by CUNA's Credit Union Magazine, Credit Union Rock Stars are nominated by their peers and selected by the magazine's editorial board. The winners will be featured in the Fall issue of Credit Union Magazine, sponsored by Fiserv.

Click here to see a full list of the 2020 winners. Congratulations again to James, Anna, and all of this year's winners.
CU Lunch Local Starts Tomorrow; Sign Your Credit Union Up Today!
Now more than ever small businesses need our support. With that in mind, we are starting the CU Lunch Local initiative early this year. Beginning tomorrow, October 1 through October 16, we are asking credit unions and their employees to spend local. From your morning coffee, lunch with coworkers, and dinner with your family, visit your favorite local businesses to show our credit union support. 

Credit Unions that would like to participate can sign up on the League's website and we will send you all the information to make CU Lunch Local a success. Don't forget as you are in your community supporting local businesses to snap a picture and send it to [email protected] so we can feature you!
Professional Development

ULEND Academy: The Hands-on Training is Coming to a Computer Near You!
ULEND Academy, is a lending game changer. Other lending programs provide great ideas that are often difficult to implement in real life but ULEND Academy, presented by CUNA Mutual is a hands-on, customized experience that propels lenders from transactional to consultative in order to meet members' full financial needs.

The curriculum guides lenders of all skill levels through all stages of the loan process - origination, underwriting, and closing - with cross-selling, consultation, and compliance woven throughout. The virtual ULEND Academy is presented in six sessions of up to 90-minutes each over the course of one week. Participants will discuss, learn, and then apply what they learn. ULEND Academy graduates immediately return to work to use the skills and concepts learned in their daily member interactions.  Click here for full details.   
Compliance Corner

NCUA Issues Letter to Federal Credit Unions: Amended Field of Membership Application Requirements
On October 14, 2020, amendments to the NCUA's chartering and field-of-membership rules (12 CFR Part 701 Appendix B) will go into effect. These changes will allow a credit union applying for NCUA approval of a community charter, expansion, or conversion to designate a Combined Statistical Area (CSA) or an individual, contiguous portion of a CSA as a well-defined local community (WDLC) if the area has a population of 2.5 million or less.

Beginning October 14, 2020, prospective and existing federal credit unions seeking a community charter may use a CSA or portions of a CSA (within certain limitations, as defined in the rule) as a basis for defining their proposed service area without documenting how a CSA's residents interact or share common interests. The Board's approval of this final rule will facilitate greater access to safe and affordable financial services for all Americans.
Business Solutions

COVID-19 & Your Credit Union: How Text Messaging Can Help
FREE Webinar: 
October 8 at 11:00 am

Branches closed? Phone lines jammed? Eltropy's CEO and co-founder Ashish Garg shares how Eltropy's secure and compliant platform can assist your Credit Union communicate effectively during the pandemic and beyond.
Have You Heard

Ouachita Valley FCU Volunteers to Provide Extra Care to Monroe
Hurricane Laura caused destruction from one corner of our state to the other. On September 24, staff members of Ouachita Valley FCU volunteered their time to work the phone banks at the "8 Hours of Caring Telethon" which directly benefitted the community in Monroe and all of northeast Louisiana. Ouachita Valley FCU also made a generous monetary contribution to help in the restoration process for their beloved region. Hosted by the Salvation Army Monroe Corps and KNOE, proceeds provided area residents with assistance for overnight accommodations, rent, utilities, community meals and more.
Quote of the Week:
"Small groups of people can have a really huge impact."

Educational Calendar

Upcoming Conferences & Seminars from your League:
Upcoming Webinars: 

October 1: Advanced SAR Training: Beyond the "Textbook"
October 5: Navigating the PPP Loan Forgiveness Process A-Z
October 6: Risk Officer Series: A Year in the Life of a Compliance Officer: Tips, Tools & Annual Requirements
October 7: Managing Vendors: Due Diligence, Contracts, Tips & Tools
October 8: Compliance with E-SIGN, E-Statements & E-Disclosures
October 13: Navigating the Coming Wave of Bankruptcy: 5 Things You Need to Know Now
October 14: Regulatory Requirements for the Board: A Comprehensive Checklist
October 15: Cyber Series: GLBA Security Expectations, Internal Controls & the Human Factor
October 16: COVID-19 Loan Essentials: Modifications, Accommodations & Latest Regulatory Guidance
October 19: Implementing Reg D Changes: Agreements, Notices & Procedures
October 20: Legally Handling ATM & Debit Card Claims Under Regulation E
October 21: Regulator Update for the Credit Analyst
October 22: Banking & Lending to Cannabis Businesses: Clarifying the Confusion & Avoiding Pitfalls
October 26: Handling Pandemic-Related Payment Issues: Stimulus, SBA, Workers' Comp & More
October 27: New URLA for a New Year! Prepare Now for a Smooth Transition
October 28: Risk Officer Series: Advanced BSA Officer Training: Risk, Compliance & Real-Life Scenarios
October 29: Cyber Series: Building & Sustaining a Cyber Intelligence Unit (CIU)


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