Keeping you connected to key credit union news and trends: February 24, 2021 |
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DEADLINE Today: CUs Urged to Share Their Impact in Brief Survey |
LCUL launched an impact survey in an effort to gather key metrics on credit union efforts in 2020 amid the pandemic. It is extremely important when meeting with lawmakers, regulators, media, and other key stakeholders to position credit unions as the best financial partner for Louisiana consumers. We are asking credit unions to complete our 2020 Impact Survey so that we can compile, quantify and share the results of those efforts. The more participation from credit unions will allow for the most accurate information.
Today is the last day for credit unions to submit the information. Click here to preview the survey questions to determine who at your credit union is best suited to complete it. Once determined, credit unions can access the survey here. |
2021 ID Checking Guides Are In, Order Today |
The 2021 ID Checking guides are now in, order yours before we run out!
Every time an employee asks “May I see some ID?”, it’s an opportunity to cut your losses through credit union fraud prevention. In ID verification, and especially out-of-state ID, you need good information to make the right decisions.
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NCUA Approved Joint-Ownership Share Accounts Final Rule |
The NCUA Board unanimously approved a final rule amending the NCUA’s regulation governing the requirements for a share account to be separately insured as a joint account. The final rule provides federally insured credit unions with an alternative method to satisfy the membership card or account signature card requirement. For example, under the final rule, the signature card requirement can be satisfied by the credit union having issued a mechanism for accessing the account, such as a debit card, to each co-owner or evidence of usage of the joint share account by each co-owner.
“This final rule would make the share insurance provided by the NCUA to members of federally insured credit unions comparable to deposit insurance of the customers of banks and thrifts,” Chairman Todd M. Harper said. “By maintaining parity between the two federal programs that protect the shares and deposits of consumers, the final rule enhances confidence in the share insurance fund and ensures that credit unions remain on a competitive footing with banks and thrifts.”
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Upcoming Conferences from your League:
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February 25: Remote Workforce Series: Security Compliance for Work from Home Staff
March 1: FDCPA Changes Round 2: 12/18/2020 Final Rule on Fair Debt Collection Practices Act
March 2: Flood Series: Flood Forms Line-by-Line
March 3: Advanced BSA Officer Training: In-Depth Risk Issues & Difficult Situations
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
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For a complete listing of educational opportunities available from LCUL, visit the League website. |
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Young Professionals Network |
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Get Future Ready by Understanding Generations with Raven Solomon |
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No we won't be checking IDs at the door! This session is open to all that would benefit from hear Raven speak on generations, racial equity and their intersection. Hear from Raven on why you should attend her session. |
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LCUL Offers Development Opportunities for Mid-Level Management |
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Focusing on mid-level managers is important to your credit union's success because your mid-level managers, branch managers, and department leads are often the primary point of contact for employees. Their management style, good or bad, has a tremendous impact on employee performance and workplace well-being. It is extremely important for credit unions to invest in the professional development and personal growth of their mid-level leaders.
The Mid-Level Management Leadership Series is a four-part virtual learning experience (totaling 9 hours of virtual classroom content) specifically designed to provide mid-level leaders with the skills and tools they need to lead effectively, remove barriers and optimize performance.
This program is being hosted by the Kentucky Credit Union League and offered to affiliated Louisiana credit unions.
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How Your Members' Can Save Money with Tracfone |
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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.
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Help More Members Become Homeowners in 2021 |
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March 24 at 11:00 am Central
Homeownership has long been referred to as the American Dream. It provides stability for families and neighborhoods, in addition to having a significant impact on generational wealth. So why don’t you have more homeowners among your eligible members? It could be because they think they need a 20% down payment to qualify for a mortgage. In fact, saving for the down payment is routinely identified as the greatest barrier to owning a home.
CUNA Mutual Group recently partnered with Mortgage Guaranty Insurance Corporation (MGIC), a private mortgage insurance company that is the pioneer of PMI. With the help of MGIC you can offer mortgages to your members with as little as a 3% down payment, while providing protection against default to your credit union.
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Greg Inman named Chair of CUNA Councils Executive Committee |
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Neighbors FCU Chief Operations Officer (COO) has been named Chair of the Credit Union National Association (CUNA) Councils Executive Committee.
CUNA Councils are run by and for credit union professionals, and provide resources, information, networking, and career development to credit union leaders. Councils include more than 7,300 individuals across the United States from credit unions large and small. As Chair of the CUNA Councils Executive Committee, Mr. Inman will direct the priorities and initiatives for the organization – including the challenge of adaption to a post-pandemic “new normal.”
“I’m thrilled to take on the role of Chair of the CUNA Councils Executive Committee,” Inman said. “I plan to apply the lessons and experience from my position as COO of Neighbors FCU to deliver clear leadership on the Executive Committee.”
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Neighbors FCU has Diebold Model 220 Cash Dispensers Available |
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Neighbors Federal Credit Union has Diebold Model 220 Electronic Cash Dispensers available. These allow Tellers to access additional cash throughout the day without having to engage a Vault Teller or Supervisor. All are in working order but may need software updates.
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La Capitol FCU Announces Promotion of Amy M. Welch to Chief Lending Officer |
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La Capitol Federal Credit Union announces the promotion of Amy M. Welch to Chief Lending Officer. With 16 years of experience in indirect lending and collections and 24 years in the banking industry, Welch is a valuable asset to the future of lending and continued growth at La Capitol.
Welch has been with La Cap for 8 years. Previous to her promotion, she was V.P. of Indirect Lending and Collections.
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Pelican State CU Hosts How to Make the Most of Your Tax Return Virtual Workshop |
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Pelican State Credit Union hosted a free virtual Financial Wellness Workshop on Tuesday, February 9, 2021, where attendees had their tax season questions answered live by a panel of experts.
The workshop was hosted live on both Zoom and Pelican’s Facebook page, and featured Pelican Nationally Certified Credit Counselors Kimberly Gaines and Lisa Fuller, as well as Capital Area United Way Director of Income Stability Delores Hurst. Pelican Assistant Vice President of Financial Outreach Jessica Sharon moderated the workshop and helped field questions from attendees.
Beginning at 7:00 pm, guests received key tax season information such as the benefits of your filing taxes, the best ways to utilize your tax return, and how to prepare your taxes for free.
34 questions were asked during the workshop, and viewers from 24 parishes across Louisiana who joined the workshop virtually.
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Quote of the Week:
“We must be willing to let go of the life we have planned, so as to have the life that is waiting for us."
- E.M. Forster
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824 Elmwood Park Boulevard,
Suite 200, Harahan, LA 70123
(800) 452-7221
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