The Louisiana Credit Union League, working with strategic partners Kudulis, Reisinger and Price (KRP) and the League’s lobbying firm, Adams and Reese, endorsed an amendment to House Bill 77 in the 2020 Second Extraordinary Legislative Session. The Act allows all Louisiana state-chartered credit unions to hold “virtual” annual meetings. 

Such meetings were allowed under the Office of Financial Institution’s current “Emergency Declaration”. However, the amended law makes the change permanent. The Bill was signed by the Governor as Act 46, which became effective on November 5, 2020.

“Virtual” shareholder meetings, which would include annual meetings, means meetings that occur solely by “remote communication”, including telephonic or internet forms of communication, so long as the Credit Union can (1) verify that each participate is a member and (2) allow reasonable opportunity for the members to vote and communicate. Please see the relevant statute for complete details. La. RS 12:1-709.

This change will assist Louisiana state-chartered credit unions as they continue to deal with the Coronavirus pandemic. Furthermore, the revision will help restrain the costs of annual meetings, moving forward, should your credit union decide to conduct meetings “virtually”.  

CUNA Mutual Group’s Credit Union Trends Report for September 2020 is now available online and can be accessed in the CU Products & Services section of our website, under the heading Performance and Data Resources.

During September, credit unions picked up 209,000 new memberships and loan balances grew at a 4.4% annualized pace, while savings balances rose at a 29% annualized pace. Firms hired 672,000 workers, nominal consumer spending increased 1.4% and long-term interest rates increased 3 basis points. Third quarter economic growth came in at 33% and decreased 3% from the third quarter of 2019.

For more information, view the complete report. If you have problems accessing the information or have additional questions about the research and information services provided by the Louisiana Credit Union League, please contact Lynette Hazelton at (800) 452-7221, ext. 3012 or requests@lcul.com.

The credit union frontline sure looked different in 2020 than it ever did before! That frontline landscape will continue to evolve throughout 2021. But one thing that will not change is the knowledge your frontline staff must have as they work directly with your members every day. 

In two half day morning sessions on February 9 & 10, Vicki Kraai, CEO of Interaction Training, will use her engaging “been there, done that” approach to ensure your staff not only knows everything they need to do, but also learn why they need to do it. 

In this jam packed and fast paced virtual course, Vicki will focus on:

Attendees will complete the training with a renewed commitment to excel on the job! Register your frontline now! 

When we unveiled our Education Calendar last week, we promised that you’d be seeing lots of programming added as other leagues invite you to their virtual events, and we’ve kept our word. On January 13th, the Mississippi Credit Union Association invites you to participate in a two hour virtual program by Debbie Crawford. 

This session will help you navigate high risk issues in your overdraft policies and procedures. Compliance Officers, Branch Managers, Operations, Call Center Staff and New Member Representatives will find this session especially enlightening. 

Ascension Credit Union is excited to announce that with the help of their generous members, they were able to raise $12,752.45 to give to the Ascension Parish Sheriff’s Office for their annual Christmas Crusade. Ascension Credit Union presented the check to Sheriff Bobby Webre on December 8, 2020. The Ascension Parish Sheriff’s Office predicts that because of all the kind donations from the community, over six hundred children will have a very Merry Christmas. 

The University of Louisiana Federal Credit Union participated in Breast Cancer Awareness Month during the month of October. UL Federal Credit Union hosted multiple events to raise money, by having a bake sale, selling breast cancer designed buttons, and displaying pink buckets in the lobbies for members to place change in. On December 3, 2020 UL Federal Credit Union presented a check totaling $535.26 to Miles Perret. The mission of Miles Perret Cancer Services is to serve families in Acadiana fighting and surviving cancer, with care and compassion.

Pelican State Credit Union is thrilled to announce the promotion of Shandra Williams to the position of Assistant Vice President of Member Solutions. 

Shandra has a strong ability to generate a high level of engagement among her team and peers. Under Shandra’s leadership, Pelican’s Member Solutions team has consistently reached their annual goals and continues to break Pelican delinquency rate records. 

Shandra has led her team to outstanding performances through process improvement, strategic planning, and professional development.

The exceptional leadership qualities Shandra possesses have been put on full display during the COVID-19 pandemic. She implemented new practices to proactively handle future member delinquencies resulting from interruption in income. She anticipated the needs and behaviors of Pelican members and worked with them to find solutions that would benefit both them and the credit union.