Keeping you connected to key credit union news and trends: March 3, 2021
Headline News
Louisiana CU Advocates Make Waves Virtually, Take Their Message to Federal Lawmakers This Week
With the 2021 CUNA Government Affairs Conference (GAC) virtually underway, LCUL remains active in getting our message to lawmakers. We kicked off the week with a special virtual happy hour/legislative briefing for Louisiana members on Monday evening, providing an ideal opportunity for members seeking insight into key federal legislative and regulatory advocacy issues important to credit unions in 2021. Credit union favorite Jeff Brooks with Adams & Reese LLC shared how the policy landscape and priorities of the 117th Congress, administration and key federal agencies might impact credit unions.

Louisiana advocates will continue to share credit union priorities over the next two days as we meet with members of our delegation. These visits play a vital role in the advocacy strategies of the League as we take this opportunity to discuss pressing issues such COVID-19 Relief for Credit Unions, Data Privacy and Security, and Improvements to the FCU Act.

Virtual Hill visits are taking place today and tomorrow. To view the complete schedule, visit the League’s Grassroots Advocacy page.

Questions or comments on advocacy priorities may be addressed to advocacy@lcul.com. 
KRP Weighs In: Enforcing the SBA Paycheck Protection Program Loan Guarantee
Since the passage of the CARES Act, and the creation of the Paycheck Protection Program (“PPP”) early last year, many credit unions around the country have taken part in making SBA PPP loans to small businesses. For many businesses, this program has been a lifeline, but it has not been without its aggravations.  

League partner Kudulis, Reisinger, and Price Law Firm provides insight on PPP collections in their latest update.
Louisiana Foundation Opens Assistance to Those Affected by Winter Storm
The Foundation has opened grant applications for any credit union employee that has experienced damage as a result of the recent winter storm. Below is the link to the application and the deadline to submit a completed application is March 12, 2021. 
Women CEOs of Smaller Credit Unions Launch New Support System
Women CEOs from thirteen credit unions of asset sizes $300M or less from across the nation came together to launch the Credit Union Women’s Leadership Alliance (CUWLA). CUWLA exists to create a mutual support system to foster collaborative opportunities to inspire and invest in women CEOs of smaller credit unions to help them succeed.  
Educational Calendar
Upcoming Conferences from your League:
Upcoming Webinars: 
March 4: Determining Cash Flow from Personal Tax Returns Part 2: Schedules D, E & F
March 8: ACH Rules Update 2021
March 9: Safe Deposit Issues: Delinquency, Death & Abandonment
March 10: Remote Workforce Series: Making Work from Home Effective
March 11: SBA Lending Update 2021: Rule Changes & PPP FAQs
March 16: Federal Requirements for Tech-Based Marketing: Websites, Social Media, Robo Calls & More
March 17: Flood Series: Commercial Flood Insurance Regulations & Compliance
March 18: E-SIGN Series: Virtual Loan Document Delivery & E-SIGN Compliance
March 23: Legal Issues for Right of Setoff on Deposit Accounts & Loans
March 24: Deposit Operations Update 2021
March 25: Business Accounts: Who is Authorized to Open, Close, Transact?
March 29: New Anti-Money Laundering Act: Key Provisions & BSA Implications
March 30: Highlights of NCUA’s 2021 Supervisory Priorities
March 31: The Top 10 Reasons Consumers Leave Their Financial Institution
For a complete listing of educational opportunities available from LCUL, visit the League website.
Young Professionals Network
Help Your Team Spread the Most Love
Each year the YPN participates in a community service project during our Workshop. This year we want to spread a little love by collecting jars of peanut butter for those in need in our communities. Just like love, a little peanut butter goes a long way!

Each chapter (or team of chapters below) is tasked with collecting peanut butter. The one that collects the most, wins!

Teams:
  • Monroe and Shreveport
  • Lake Charles
  • Baton Rouge
  • Lafayette
  • Tri-Parish and New Orleans

Have your peanut butter handy to share on video at workshop, and work with your YPN Chapter Representative after the workshop to get the peanut butter to the charity in your area.
Professional Development
Join Debbie Crawford to Learn Louisiana Share Accounts Essentials
Make sure your staff is equipped with the knowledge of how to properly open share accounts at your credit union. With various ownership types, your staff needs an understanding of what paperwork is need to open the account, how to complete the account card, and correctly titling accounts. During this program, Debbie Crawford will focus on the legal ownerships that a consumer member might have from birth to death, focusing on individual accounts.

This two part program will take place virtually from 8:30 am to 11: 30 am each day.
Business Development
Don't Miss Webinar on How Your Credit Union can Benefit from Offering New Wireless Program
March 4 at 2:00 pm Central

Last year, Americans spent more than $284B on wireless products and services. Your members can now get the exact same service on the exact same wireless network and even keep the exact same phone while paying a fraction of the price they pay today. With the new credit union wireless program, you can help your members with meaningful savings on a monthly expense most consider to be an essential service.
Have You Heard
WESLA FCU Participates in Read Across America Day
WESLA FCU participated in Read Across America Day on March 2. The staff dressed up as their favorite Dr. Seuss character and they passed out free Dr. Seuss books to members.

Read Across America Day was launched in 1998 by the National Education Association (NEA). It is a day to encourage children and teenagers to read and falls annually on March 2, which is also Dr. Seuss' birthday.
La Capitol FCU Announces Promotion of Daniel Knoll to Mortgage Lending Manager
La Capitol Federal Credit Union announces the promotion of Daniel Knoll to Mortgage Lending Manager. “With 14 years of experience in the financial industry and a business degree from ULM, Knoll is a valuable asset to the Mortgage department at La Capitol. We look forward to Daniel’s leadership as we grow our mortgage business,” says Michael Hooper, CEO.

Knoll has been with La Cap for more than 6 years. Previously, he held positions as a Member Service Specialist and a Mortgage Loan Originator.
Wymar FCU Pays Members $300,000 in Patronage Dividends
Wymar Federal Credit Union, credit union serving BASF Geismar, is proud to announce that a Patronage Dividend of $300,000 was paid to its members on March 1, 2021. This is $100,000 more than last year which makes a total of $840,000 in Patronage Dividends Wymar FCU have paid out over the past four years! While our entire nation was dealt a difficult card in 2020, the members of Wymar Federal Credit Union showed a tremendous contribution and CEO, Ronnie Stephens, and their Board of Directors couldn’t imagine a better way to show their token of appreciation. 

Dividend amounts are calculated based on a combination of interest earned on deposit accounts and interest paid on loans. 

“It is because of Wymar’s loyal members, supportive Board of Directors and committee members and an amazing staff that this was possible in such a challenging year.” said Wymar Federal Credit Union CEO, Ronnie Stephens
Quote of the Week:
“There are no secrets to success. It is the result of preparation, hard work, and learning from failure."
- Colin Powell