signal magazine - winter 2014

WINTER 2014

The Magazine of the League of Southeastern Credit Unions & Affiliates

The Internet of Everything

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As we close out 2014, we already know that 2015 will begin with a sense of urgency. The NCUA has announced that a vote will be taken on a new risk-based capital (RBC) proposal on Jan. 15. The 114th Congress will be sworn in on Jan. 6 and, with a Republican majority in the House and Senate, there is expected to be more movement on legislation. One bill we are watching closely is sponsored by U.S. Rep. Jeff Miller (R-FL) which would allow member business loans to veterans to not count against the MBL cap. Our GA staff is working with Mr. Miller’s office to get that legislation reintroduced early in the 114th Congress. Plus, we know that comprehensive tax reform will again be a top issue in Washington, D.C.

This is a year that we really need active involvement from credit unions. Once the NCUA board votes on the new RBC proposal, a 90-day comment period is expected. NCUA Chairman Debbie Matz has already said that she would support the comment period to give credit unions an opportunity “to review the important safety and soundness of the rulemaking.” The LSCU will review the new proposal and then work to educate credit unions on the rule. We will also work with you to formulate comment letters. The more than 2,000 letters the industry

generated in early 2014 was a record and helped to turn the tide in our direction. However, the battle is not over. That same level of response is needed when the new rule is announced.

Rep. Miller’s legislation has a real opportunity to gain traction this year. Last December, during a credit union lunch with Rep.-elect Gwen Graham (D-FL), she expressed interest in the legislation and doing what she could to help it advance. Once the legislation is filed, it will be important for credit unions to send their members of Congress a note asking for their support. Again, the League will help coordinate this at the appropriate time.

Late in 2014 we began hearing comments on the avenue that tax reform will take in 2015. Rep. Paul Ryan (R-WI), incoming House Ways and Means chairman, spoke at a Wall Street Journal event saying that, “If we can get half way towards comprehensive tax reform, I think that’s great. It is going to happen; the question is when. 2015 or 2017?” New Senate Finance Chairman Orrin Hatch’s (R-UT) idea of tax reform was a little different as he wants to include an overhaul of the individual side of the tax code. Additionally, President Obama is interested in getting comprehensive tax reform done during his last two years in office. Congress and the president are not yet on the same page for tax reform. But, we know it’s going to be a major topic of discussion during 2015.

With these issues bubbling up at the first of the year, attending the CUNA GAC, March 8-12, in Washington, D.C., is vitally important. To have the opportunity to speak with our lawmakers, their key staff, and regulators in person will pay great dividends. As we did last year with NCUA Chairman Debbie Matz and vice chair Rick Metsger, we are working with a couple of other leagues to set up a meeting with NCUA board members during the CUNA GAC to give credit unions a chance to speak directly with them about RBC, as well as other regulatory issues of importance. This open dialogue has been beneficial in strengthening lines of communication with the NCUA.

I also encourage you to attend the Florida Credit Union Association State GAC, March 24-25, in Tallahassee, and the Alabama Credit Union Association State GAC, April 7-8, in Montgomery. We have many new members in both state legislatures and the state GACs are excellent first steps in building relationships, as well as educating them on the credit union difference. Our Governmental Affairs staff is already out meeting the new members and laying that foundation for our legislative agenda for session, but when they hear from each of you it really solidifies what credit unions offer their local communities.

Make 2015 the year that you not only attend one of these important governmental affairs conferences, but also get some of your staff and board involved. We can already see how the first part of the year is shaping up. When we work together we can evoke change. Let’s show that cooperative strength again on these issues and the variety of others that will come up this year.

LSCU

Message from the President

Patrick La Pine, CCE, CUDEPresident & CEOLeague of Southeastern Credit Unions & Affiliates

1SIGNAL: Vol. 5, Issue 4 www.lscu.coop

1 President’s Message

4 Trends4 The Internet of EverythingOne of the hottest phrases in the second half of 2014 is – “Internet of Everything.” Find out how the “Internet of Everything” is changing the way people live their lives.

8 Q&A with CUNA President/CEO Jim NussleJim Nussle takes a moment to answer questions from the LSCU. As new CUNA CEO, he looks forward to working with credit unions to show legislators the amazing passion they have for helping members for the good.

11 Advocacy11 GOP Majority: What Does It Mean?13 NCUA’s Risk-Based Capital Proposed Rule17 State-Chartered Credit Unions are Prospering in Florida

Senator Jim McClendon

Table of ContentsEditorAmy Jowers

ContributorsDrew Breakspear

Mike Bridges

Teresa Gray

Keith McMurtrie

Scott Morris

Jared Ross

Leonard Parkhurst

Rob Peters

Laura Vann

Design & ProductionPerry Albrigo, Pomegranate Studio

Letters to the editor may be submitted

at [email protected].

Connect with us!

LeagueofSoutheasternCreditUnions

@LeagueofSECUs

LeagueofSECUs

www.lscu.coopWEBSITE

2 A Magazine of the League of Southeastern Credit Unions & Affiliates SIGNAL: Vol. 5, Issue 4

HIGHLIGHTS

4 | TRENDS

The “Internet of Everything” basically means that

most everyone is living a “digital lifestyle.” Find out

how it is changing the way people live their lives.

11 | ADVOCACY

Now that the Republicans control both chambers,

can we expect Congress to finally pass meaningful

legislation?

20 | COOPERATIVE INITIATIVES

Newest Cooperative Initiatives team member, Juli

Lewis, will serve as the financial education team

leader for the department.

26 | COMMUNICATIONS

Find out why one Alabama credit union thinks the

LSCU Image Campaign message “sets the table” for

consumers.

30 | LEVERAGE

What is the key element of credit union retirement

plans that is too often missing from the plan’s

priorities?

18 LSCU Legislator Profile18 Senator Jim McClendon

20 Cooperative Initiatives20 Cooperative Initiatives Department Welcomes New Team Member,

Realignment of Chapter Territories and Consultants

22 Foundation22 How Credit Unions can Support the

Southeastern Credit Union Foundation

24 Education24 LSCU Education Department Welcomes Two Team Members25 2015 Upcoming Learning Opportunities

26 Communications26 Cooperative Image Campaign Contributes to Record Growth for

Alabama and Florida Credit Unions

28 League News28 Southeast Leadership Development Conference: A Review in Pictures

30 LEVERAGE30 New Name. Same Relationship. CU Audit & Compliance Group

Consolidates with LEVERAGE Audit & Consulting32 Rethink Your Credit Union’s Retirement Plan Goals

36 LSCU Directory

2010, 2011, & 2012

3 SIGNAL: Vol. 5, Issue 4 www.lscu.coop

TREND

One of the hottest phrases in the second half of 2014 is – “Internet of Everything”. It basically means that most everyone is living a “digital lifestyle.”

The “Internet of Everything” also suggests that much of our everyday life is now hooked to the Internet, even if we don’t realize it. The Internet is woven into the fabric of our lives outside of a smartphone, tablet, or personal computer. It is now inside cars, in restaurants, and on city streets. The “Internet of Everything” is changing the way people live their lives. Are credit unions keeping pace?

Cisco recently conducted a Value at Stake analysis for the public sector on the “Internet of Everything.” The study found that $4.6 trillion will be generated for the global public sector over the next decade. The study obviously was not conducted for financial institutions, but of the 10 findings, two really stick out – citizen experience and revenue generated. These are two areas where credit unions can capitalize on the “Internet of Everything.”

“The ‘Internet of Everything’ gets us to the point where we don’t think about certain things

anymore. For example, think about maps. We used to print them out, and then we used GPS devices. Today we use our phones to navigate us,” said Sam Maule, a manager with Carlyle and Gallagher Consulting Group.

Maule works with financial institutions on a variety of topics including online and mobile banking. He regularly talks to large groups about the future of payments and the impact technology has on their lives. The Business Insider website (www.businessinsider.com) recently looked at the “Internet of Everything” over the last ten years. From 2004 to 2010, the Internet was basically used on computers and smartphones. From 2010 to today, tablets, TVs, wearables (watches, glasses, Fitbit), and cars have been added to the list. When projected out to 2018, the “Internet of Everything” will be used by more things than computers, smartphones, and tablets combined by 2016. The new list of things connected to the Internet will include smart homes, smart cities, smart offices, and smart factories.

For financial institutions, this is all excellent information. Understanding the direction of the “Internet of Everything” is very helpful. According to Business Insider, in one year, the number of things connected to the Internet will double.

Credit unions need to find their footing in this new world. They have to find where they can carve out their niche online. It is no longer about size.

“Technology levels the playing field for financial institutions. The credit union has the advantage of being community driven with members feeling a sense of community when they do business with a credit union,” said Maule.

That’s where credit unions will continue to see their greatest asset - the sense of community. Credit union members love their credit union. They are passionate about being a member. For credit unions, it is taking that same approach with technology and the web. Greg Olmsted, CEO of North Alabama Educator’s Credit Union in Huntsville, sees the first opportunity with a member’s online experience. It is about understanding the future and evolving with it.

“Opportunities for the credit union industry are endless via the web. The main branch of the future will reside in the member’s hand via their mobile device. 24/7 access between members and their credit union greatly expands the availability of services to a much wider consumer audience,” said Olmsted.

Tied directly to that online experience is social media. Credit unions that embrace social media and use it to their advantage will reap the benefits. Maule likes to say that Facebook is different today than it was two years ago, and it will be even more different in two years. Social media is here to stay. It is also evolving. The

The Internet is Everywhere – Should Credit Unions Follow?By Mike Bridges, vice president, Communications, LSCU

Internet ofEverything

The ˝Internet of Everything˝ gets us to the point

where we don´t think about certain things anymore.

For example, think about maps. We used to print them

out, and then we used GPS devices. Today we use our

phones to navigate us.


r

Cisco study found that one of the big takeaways from the “Internet of Everything” is citizen experience. A piece of that is social media. Terry West, CEO of VyStar Credit Union in Jacksonville, says that credit unions that can master social media will derive big advantages.

“Social media provides opportunities to get more information to more people, almost instantaneously. It is a cost effective communications process and will emerge into a cost effective service delivery process. Social media is part of how people actively communicate, share, and learn. We must engage or we will miss opportunities to serve a large portion of the population as financial services—and how people access them—evolve,” said West.

When Business Insider looked at the business benefits of the “Internet of Everything,” operational efficiencies, as you would imagine, was first on the list. However, customer satisfaction was number two. As West alluded to, social media is an avenue where credit unions can shine. Credit unions already are looked at as having the best customer service in banking. It is now taking that great customer service experience online. It is not taking the place of the face-to-face experience, but adding to the channels in which members correspond with the credit union.

“Social media also provides an additional way to assist our members with their needs. It is important that members know we are listening to what they post online and address their concerns or questions just as we would if they called our call center or visited a branch,” said West.

North Alabama Educator’s Olmsted echoes the main concern Business Insider has with the “Internet of Everything:” data security. With more things being connected to the Internet, it means that hackers have more of an opportunity to gain access to personal information. The Target and Home Depot data breaches have turned the retail and financial industries on their head. And those were just two that were highly publicized. There were many smaller ones that happened

each month in 2014. Without being able to keep personal information secure, Olmsted says a financial institution can be hurt.

“The primary concerns for Internet expansion for member growth are security issues, ease of portability to other online financial alternatives, and a relationship disconnect by members to their financial institutions,” said Olmsted. This is where Maule sees long range planning being a big advantage for financial institutions. Business Insider found that the vast majority of businesses plan to be a part of the “Internet of Everything” by 2017. However, many will not get a solution for another 12 to 24 months. For credit unions looking to jump on the “Internet of Everything”, planning for an evolving online banking solution or mobile app is a must. But, also looking at what their individual credit union needs are will be a major step forward. Do not just partner with a third party without doing your due diligence.

“If a credit union is investing in IT right now, make sure they are working with people that know how to build the right hooks to the API suite. Make sure they build out the solution that best fits you.” said Maule.

Those last three words really sum up the “Internet of Everything” for companies – best fits you. It can be overwhelming to think about how technology and the Internet need to be integrated into a business plan. Just recognizing what the future holds for the Internet and the customer experience is a good

start. The “Internet of Everything” is evolving at breakneck speed. Credit unions will be wise to study the “Internet of Everything” and make their technology plans fluid. The credit unions that can master the “Internet of Everything” will be the ones most successful.

Internet Beacons are ComingOne of the hottest new pieces of the “Internet of Everything” is beacons.

Businesses can buy them to enhance the customer experience. An example would be walking into an Apple store. The beacon picks up your iPhone and all of your information is transmitted to an Apple employee. They walk up and greet you by name and say I can see that you have an iPhone 6 on your wish list. See how the customer experience is enhanced. A restaurant can purchase a beacon, and customers can get access to menus and specials on their smartphones by the time they sit down. Apple has already integrated beacons in IOS 8 software. More companies are following Apple’s lead. If you are just trying to understand big data, it might be too late because mega data is quickly approaching.


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Q&A with CUNA President/CEO Jim NussleBy Amy Jowers, director, Communications, LSCU

TREND

Jim Nussle, former Iowa

Republican congressman

and director of the White

House Office of Management

and Budget for President

George W. Bush, has been

named the new president/

CEO of CUNA, the trade

group announced back in

September. In a Q&A with

the LSCU, Nussle talks about

what he has learned on

the job so far, how he will

use his background for the

benefit of the credit union

movement, how community

banks can be unlikely

partners in 2015,

and more.

We need to work together to show this passion to our lawmakers when It’s contagious. Passing the 100 million memberships mark is only the


What have you learned about the credit union movement since you’ve been on the job since September?

I’ve seen an incredible passion from credit unions, state leagues, and our system partners. I obviously got to know credit unions and the Iowa league when I was a U.S. Representative from Iowa. However, now being inside the credit union movement, I see a movement of people that love what they do and have a tremendous passion to help their members. I’ve spent quite a bit of time listening to credit union CEOs and our state league presidents. It’s important that I hear from those folks. We need to work together to show this passion to our lawmakers when we visit with them and illustrate this passion in our communications. It’s contagious. Passing the 100 million memberships mark is only the beginning.

Where do you see your legislative and consultative background being an asset for credit unions?

Having served in Congress, where I chaired the House Budget Committee, and as director of the U.S. Office of Management and Budget, a cabinet-level position, provided me with the insights on how the process works. We are all frustrated with a Congress that is not doing a whole lot, but that doesn’t mean that we can’t still make progress on our issues. This means doing more work with House and Senate members and leadership. Advocating for credit unions is a relationship business, just like you working with your members. It’s the relationships that make the difference. CUNA, state leagues, and credit unions need

to cultivate relationships and continue to build them with this new class of lawmakers that are coming in 2015.

Proactive media relations is also an area that should be important to credit unions. This is an opportunity to bring more attention to our issues, while also informing consumers about how credit unions are unique. We’ve had some good success already in advancing a pro credit union agenda through the media already. When we have good credit union news, it’s important to push that out to the media. You will see much more of that from CUNA.

How will credit unions see your stamp on CUNA in 2015?

I think we have opportunities with unlikely partners. Community banks have many of the same regulatory issues as credit unions. There are areas where I hope we can work together and make headway for both of us. We can find those institutions that believe what we believe and work together instead of separately. It’s time we put our differences aside and work together. I’m not afraid to try new avenues that don’t always include Capitol Hill.

But, to be clear: I’m also not willing to give up anything – in particular, the credit union tax exemption. We can work with the banks on regulatory relief – but our tax exemption is off the table.

Social media is an area that I hope you have already seen a major jump in this year from CUNA. Social media can bring us all together as a movement and connect with younger consumers. Collectively, there are nearly as many credit union messages on a daily basis

on Twitter as any other industry. You will see more collaboration from CUNA, state leagues, and credit unions on messaging and content. I will be right in the middle of that as well. I hope you’ll follow me on Twitter at @Nussle.

What did you take away from your first American Association of Credit Union Leagues (AACUL) meeting with league presidents and system partners in November?

First thing I did was listen during the meetings – both in the general sessions and a session with league presidents. I’ma firm believer in that you can learn more from listening. I’m not here to reinvent the credit union movement. Our job at CUNA is to advocate on your behalf and help to ease the regulatory burden in your operating environment. During the AACUL meetings, it was clear that the industry needs to continue to work together. That’s the only way that we are effective. My job at CUNA is to look at our operations and where can we improve. We have to look at where we can do a better job of leading the industry and where are our gaps.

One final takeaway from the AACUL meetings was passion. I talked about that earlier, but the passion inside this industry is amazing. We need to keep that passion and pass that on to our next generation of leaders. They are our future. I hope to get to Alabama and Florida soon to meet you and hear about ways we can help your credit unions.

Contact Jim at: [email protected]

en we visit with them and illustrate this passion in our communications. the beginning.


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ADVOCACY

GOP Majority: What Does It Mean?By Jared Ross, SVP, Association Services & Governmental Affairs, LSCU

As we usher in the 114th Congress, there are a lot of changes on the horizon. Most notably, the Republican Party will now control both the House of Representatives and the United States Senate. In what can only be described as a “Republican wave,” the GOP was able to capture eight seats in the Senate and now

holds a majority, 54-44-2. On the House side, Republicans picked up 10 additional seats and will hold a 244-190 majority (one seat in Arizona is still undecided at this time).

Now that the Republicans control both chambers, can we expect Congress to finally pass meaningful legislation? Do not hold your breath! While Republicans will use the majority in both chambers to pass key GOP platform issues such as changes or repeal of Obamacare and Dodd-Frank, Pres. Obama still holds the ultimate trump card, the veto pen. Republicans must be very tactical in their decisions as everything they do for the next two years will guide the discussion into the 2016 presidential elections. This will certainly make for great political theater, especially in this time of the 24-hour news cycle.

What does this mean for credit unions? There are four key issues that credit unions should really be paying attention to. Much like the key GOP platform issues, anything the Republicans attempt to pass will be heavily scrutinized by the president as he determines whether to use his veto power.

Here are the issues:Tax reform - Much chatter has already circulated around Capitol

Hill about Republicans making tax reform a priority. Incoming Ways and Means Chairman Paul Ryan (R-WI) has said he believes tax reform is “achievable and necessary,” but he has also complicated the road to passage by stating that reform means both corporate (which could mean the credit union tax exemption is on the table) and individual tax reform. He later stated that business-only tax reform is going to happen, but the question is whether it occurs in 2015 or 2017. On the Senate side, new Finance Committee Chairman Orrin Hatch (R-UT) is opposed to the corporate only approach. He stated recently, “If we focus only on reforming the corporate tax code, we’d be leaving the majority of U.S. businesses — particularly small businesses, which employ most of our workforce — behind. That, for me, is simply unacceptable.”

Dodd-Frank reform - If tax reform is contentious, efforts to repeal or even tweak the landmark Dodd-Frank law will be an all-out donnybrook by comparison. New Senate Banking Committee

Chairman Richard Shelby (R-AL) will take aim at the Consumer Financial Protection Bureau (CFPB), and will be joined enthusiastically by House Financial Services Chairman Jeb Hensarling (R-TX). GOP staff is busily drafting bills to alter the structure of CFPB from a single administrator to a three- or five-person board. Also, there are plans to subject CFPB to the congressional appropriation process, a move that would result in more budgetary oversight. This will be strenuously resisted by the administration. However, there may be a silver lining—controversy surrounding big ticket Dodd-Frank items may pave the way for regulatory relief issues of importance to credit unions and other small institutions. This is worth credit unions spending time proposing a variety of Dodd-Frank exemptions to ease our regulatory burden. Supplemental capital, anyone?

Housing finance reform - Similar to Dodd-Frank, Shelby and Hensarling are united in a desire to shrink the federal footprint in housing finance, eliminate Fannie and Freddie, and foster the flow of private capital into the system. However, they may be a minority in a majority, as significant numbers of Republicans want to maintain a robust government presence in the housing finance market. This is an issue that will receive attention, but I think ultimately will produce inaction in the 114th Congress.

Data security - Although an important issue for credit unions, inertia surrounds data security on Capitol Hill. There is a simple reason: Republicans and Democrats divide their loyalties between financial institutions and merchants. While there is support on both sides of the aisle for progress on mandatory consumer notification for retailers, there is clearly an equal amount of opposition. Of all the credit union agenda items, the dynamic here is not going to be noticeably different in the 114th Congress than it was in the 113th. That does not mean credit unions cannot work aggressively for passage of legislation; it just means that retailer opposition will remain constant, no matter which party is in charge.

LSCU Governmental Affairs Consultant John McKechnie served as a contributor for this article.

In what can only be described as a “Republican wave,” the GOP was able to capture eight seats in the Senate and how holds a majority, 54-44-2.


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ADVOCACY

NCUA’s Risk-Based Capital Proposed RuleBy Scott Morris, director, Regulatory Affairs, LSCU

On Jan. 23, 2014, with little fanfare, the NCUA board issued a proposed rule regarding risk-based capital for credit unions. The proposed rule, or the RBC proposal as it’s known among credit unions, sought to make a number of revisions to NCUA regulations regarding Prompt Corrective Action (PCA). Among the

proposed changes were the replacement of the agency’s present risk-based net worth (RBNW) requirements with new risk-based capital requirements for federally insured “natural person” credit unions with more than $50 million in assets, newly revised risk-weights for many of NCUA’s current asset classifications, and higher minimum levels of capital for federally insured natural person credit unions with concentrations of assets in real estate loans, member business loans (MBLs), or higher levels of delinquent loans. The proposal also sought to set forth a process where NCUA could require an individual federally insured natural person credit union to hold higher levels of risk-based capital based on supervisory concerns raised by NCUA examiners. The board’s goal was to finalize these changes by the end of 2014.

Since that time much has occurred. Credit unions and leagues mobilized to blanket Washington, D.C. with comments, industry opinions, and spirited debate on the proposal in amounts that startled even the most ardent RBC proponents. The result of more than 2,000 industry comment letters and thousands of phone calls to congressional leaders was a reprieve for credit unions, at least for the moment. On Sept. 29, 2014 NCUA Board Chairman Debbie Matz announced that she would seek a revised risk-based capital rule proposal with an additional comment period – actions that the LSCU has been advocating since last spring. The revised proposal is now expected to be announced in early 2015.

Official LSCU Comments to NCUAOn May 28, 2014, the League of Southeastern Credit Unions

& Affiliates (LSCU) submitted its official comment letter on NCUA’s proposed regulation. The letter explained our position in detail, including how the rule will greatly limit credit unions’ ability to compete with other financial institutions in the marketplace. The additional safety sought by NCUA with this proposal failed to materialize as opposition to the rule grew among credit unions. The League clearly noted that the proposal, in its initial form, sets the stage for very negative consequences for credit unions and it should be withdrawn. In addition to providing our comments, the LSCU

initiated a broad-based action plan aimed at identifying the issue for affiliate league members.

In response to the initial proposal, the LSCU contacted each member of the Alabama and Florida House and Senate delegation. They were urged to consider the impact of the proposal on credit unions and take appropriate steps to mitigate the potential damage to the institutions in the marketplace. We pointed out a more reasonable approach for NCUA to consider would be to: ■■ Realign the agency’s inappropriate risk weights and

consider mirroring the risk weights in use by the FDIC for community banks

■■ Consider the fact that the proposal affects thousands of federally insured credit unions that, as a result of new requirements, would find it necessary to make whole-sale adjustments to balance sheets requiring them to raise more capital to reach compliance

■■ Consider a revised proposal with modifications to areas of concern and an additional comment period for industry leaders to review the details


Since that time much has occurred. Credit unions and leagues mobilized to blanket Washington, D.C. with comments, industry opinions, and spirited debate on the proposal in amounts that startled even the most ardent RBC proponents.

NCUA said that based on stakeholder comments, the amended proposal will include a longer implementation period and revised risk weights for mortgages, investments, member business loans, credit union service organizations, and corporate credit unions, among other changes.

The agency went on to say that credit unions and interested parties will also be invited to comment on an alternative approach for addressing interest rate risk using the supervisory process.

RBC Issue OutreachThe LSCU remains on the front lines of this proposal and

continues to champion credit union interests. As the revised proposal is released, league staff will again be front and center in an effort to communicate, educate, and inform members on the details and impact of the proposal.

For credit unions, the effects of a revised risk-based capital rule could prove to be detrimental to efforts to bring financial products and services to the members. Since 2009, credit unions have been under a heavy burden in terms of overregulation. In fact, since the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the creation of the Consumer Financial Protection Bureau (CFPB), the number of credit unions that have closed or merged tops 800, and that total is expected to increase.

During the first comment period, league staff worked with Alabama and Florida lawmakers to point out the potentially damaging consequences of the initial proposal. In a bipartisan effort, Reps. Peter King (R-NY) and Gregory Meeks (D-NY), joined together to write NCUA Chairman Debbie Matz and voice concerns regarding the proposal’s possible effect on credit unions and 98 million members nationwide.

In Alabama, six of seven Congressional members signed onto the letter as co-signers. In Florida, the number of co-signers was greater with 22 of 26 members of Congress participating. In total, 324 lawmakers, nearly 75 percent joined Reps. King and Meeks as co-signers. The message from Congressional members to NCUA was loud and clear, reconsider the proposal and improve it for the benefit of credit unions nationwide. The LSCU will again take action to ensure credit unions receive every consideration available and the final rule is fair and reasonable industry wide.

Key LSCU Action since the Release of NCUA’s Proposed RBC Rule

Below are the key actions of the LSCU since the release of the proposed RBC rule:

Held 15 town hall-style educational sessions throughout Alabama and Florida for credit union officials and made “online” video sessions available for credit union supporters

Created a risk-based capital resource site on the LSCU webpage that included a schedule of NCUA RBC Meetings, an RBC calculator, video RBC presentation, and sample comment letters for use by affiliate members Contacted Alabama and Florida House members encouraging them to join 296 other members as co-signers to a letter asking NCUA’s chairman for more comment time, rule improvements or withdrawal of the proposed ruleLeague President Patrick La Pine and Senior Vice President Jared Ross attended NCUA Risk Based Capital Listening Sessions in Chicago, IL, and Alexandria, VA.Submitted detailed final comment letterThe League continues continue to believe that having more

stringent capital requirements on credit unions larger than $50 million in assets will create unnecessary difficulties among credit unions. While the credit union regulatory capital system should be updated to better reflect risk, we firmly oppose NCUA’s proposed risk-based capital rule that treats credit unions differently. Any rule that has the potential to require some credit unions to bear a disproportionate amount of burden related to the safety and soundness of the greater credit union system is bad for the industry as a whole.

To its credit, NCUA has indicated that it will make “significant changes” to the proposed rule and while they have not yet released a revised rule on RBC, they are expected to do so early in 2015. After the proposal is published in the Federal Register a comment period of between 60-90 days will begin for credit unions, leagues, and other interested parties.

The League again intends to communicate the issue to affiliate credit unions in a broad based effort to identify the benefits and point out the weaknesses of the rule. This will allow each credit union to make informed decisions about its position on the issue.


For credit unions, the effects of a revised risk-based capital rule could prove to be detrimental to efforts to bring financial products and services to the members.

Corporate One has a rich and successful 60-year history of providing reliable, innovative solutions to credit unions. With more than $280.5M in regulatory capital*, our members rely on the highest amount of reserves in the corporate system, which continue to grow month over month thanks to consistent earnings. And, we meet the permanent leverage ratio at 7.24%, based on regulations that went into effect in Oct. 2013.

*as of October 31, 2014, net of amortization

We invite you to learn more about us, and review our proven financial history at www.corporateone.coop. If you like what you see, give us a call at 866/MyCorp1.

We look forward to working with you.

Together with our members, we have built one of

the strongest corporate credit unions in the nation

ADVOCACY

As the regulator of Florida’s financial services providers, it is vital for the Florida Office of Financial Regulation (OFR) to maintain a strong relationship with our state-chartered credit unions. We also monitor their progress and growth. While focusing on member needs, credit unions work for the ongoing

development of communities through policies developed and accepted by their members. Over the past decade, Florida’s state-chartered credit unions have experienced substantial growth in total assets and deposits. I am happy to say that our office has noticed very positive trends in Florida over the past year alone.

The financial performance trends of Florida’s credit unions have been moving in a positive direction since 2010, with net charge-offs improving since 2011 (see chart). At the end of Sept. 2014, there were 71 state-chartered credit unions in Florida, and none reported a net worth ratio below seven percent.

There were three credit unions reporting a net worth ratio between seven and eight percent, but all three reported positive earnings for the quarter ending on Sept. 30. In addition, 53, or 75 percent, of our state-chartered credit unions currently have a net worth ratio above 10 percent.

Last year, state-chartered credit unions held $23 billion in assets. That number has jumped to more than $30 billion in just one year. Florida is currently home to eight state-chartered credit unions with total reported assets valued at more than $1 billion.

These trends are great news for the growth of Florida’s economy and the financial services marketplace. The OFR gives thanks for the partnership with LSCU & Affiliates and for their support in making credit unions in Florida a safe and progressive facet in the financial services industry. Our office appreciates the collaboration we have had with the League as sharing our knowledge and insight helps us both do our jobs better, while making Florida a business-friendly place to live and prosper.

Drew Breakspear has been the commissioner of the Florida Office of Financial Regulation since 2012. He has more than 40 years of experience having worked in the international banking industry and management consulting, as well working with regulators globally. Before joining OFR, he served as executive vice president and general auditor at State Street Corporation in Boston, joining the company in 1995. He received an MBA from the Harvard Business School and a bachelor’s degree in economics from the University of Witwatersrand.

State-Chartered Credit Unions are Prospering in FloridaBy Drew J. Breakspear, commissioner, Florida Office of Financial Regulation


Florida State Chartered Credit Unionsat-a-Glance

71 state chartered credit unions $30 billion in assets$19 billion in loans2.8 million members

Florida’s Credit Unions Net Charge Offs:

0.0

0.5

1.0

1.5

2.0

2.5

2010 2011 2012 2013 2014

2.21%

1.79%

1.32%

1.02%

.74%

Over the past decade, Florida’s state-chartered credit unions have experienced substantial growth in total assets and deposits. I am happy to say that our office has noticed very positive trends in Florida over the past year alone.

LSCU Legislator ProfileSenator Jim McClendon

How and why did you become interested in public service and politics in particular?

My family has been a part of this community for seven generations. We have been supported by the community, and the best way to return the favor is by becoming a strong advocate for the district.

You served three terms in the Alabama House of Representatives, what are your proudest moments in that 12-year period?

In the 2010 Special Sessions on Ethics, I was appointed as chairman of the Ethics Committee, the only committee in both the House and Senate. Every bill, originating in either body, came through that committee before going to the House floor. That was a singular honor.

I introduced the law that made it illegal to text and drive for six years in a row before it finally passed both bodies and was signed into law. That was a proud moment and a relief. That was the 2011 session.

Sen. Jim McClendon is a Republican member of the Alabama State Senate, representing District 11. He was first elected to the chamber in 2014. He is a former member of the Alabama House of Representatives, representing District 50 from 2002 to 2014. Sen. McClendon is a retired optometrist and served as an assistant professor of optometry at the University of Alabama, Birmingham.

Serving as House chairman of redistricting was quite an honor and took up a lot of my time in the 2012 session. That is the most political process in which the legislature participates. Receiving Department of Justice approval in record time was significant, as was approval by Judge Pryor’s Federal District Court. I just returned from the U.S. Supreme Court who is reviewing the new district lines and am confident they will issue final approval.

With Medicaid (healthcare for the poor) taking an ever larger bite of the General Fund, I co-authored a bill that completely revamped the plan. Medicaid is a $6 billion dollar program, and with the cost control measures in the plan we estimated a savings to taxpayers of $50-75 million annually. It will take a minimum of three years to fully implement the plan, and only time will tell.

If I must hone in on a single role of which I am proud, it would have to be chairman of House Health Committee. Healthcare is my background and passion. Having the opportunity to participate in improving and molding

Medicaid is a $6 billion dollar program, and with the cost control measures in the plan we estimated a savings to taxpayers of $50-75 million annually.


healthcare delivery in Alabama has been a distinct honor, a role that I hope to continue during my tenure in the Senate.

With your recent election to the Alabama Senate, what are some of the similarities and differences you expect to see as compared to a member of the House?

My motivation for seeking a Senate seat and abandoning a safe seat in the House was to be a stronger advocate for the district I represent. In simple terms, senators have more clout.

What are the most important issues you see facing Alabama today, and what are your top priorities going into the 2015 Legislative Session?

Of foremost concern is the looming budgetary crisis in the General Fund (which funds all state efforts except education). With a strong legislative commitment to no new taxes, restraints on expenditures is a given. The state must live within its means, while outside forces are demanding more dollars for prisons and Medicaid.

The need for new jobs is equally important. Employed Alabamians reduce the demand for state assistance and increase tax dollars going into the budget.

Credit unions are seeing an alarming increase in regulatory burden throughout Alabama. In your opinion, what can the Alabama Legislature do to help decrease over-regulation seen in the financial services industry?

A bureaucrat’s regulations are a businessman’s red tape. The more government intervenes in how a business is run, the more time the business must devote to compliance issues, which results in encroaching on tending to customer needs or requiring additional personnel.

You are a past president of the Alabama Optometric Association, looking back at that role and your role as an elected official, how important is grassroots advocacy in the legislative process? If you could give

one piece of advice to credit union advocates, what would it be?

My initial experience with the legislature was as an advocate on behalf of my profession. There is no one more important to a legislator than a constituent, a voter from his or her district. It is vital that advocacy groups, such as yours, have a contact person that each legislator knows and feels comfortable talking with. It is one thing when a stranger walks in the door asking for legislative support, and it is another thing when a voter and supporter from the legislator’s district walks in the door. Get to know your legislator, remind him/her each time who you are and where you live, even though you saw him last week. This is grass roots at its best—local citizens seeking assistance from their local legislator. Strong grass roots input will trump special interest every time.

Get to know your legislator, remind him/her each time who you are and where you live, even though you saw him last week. This is grass roots at its best—local citizens seeking assistance from their local legislator. Strong grass roots input will trump special interest every time.


The Cooperative Initiatives team welcomed Juli Lewis as our newest member relations consultant. Lewis joins the League

from Suncoast Credit Union where she had 21 years of service. She was most recently the youth marketing manager, overseeing student run branches at elementary, middle, and high schools; conducting reality fairs; and creating and implementing other youth programs at schools and youth agencies.

Lewis also serves as the chair of the National Youth Involvement Board, an organization for credit union financial educators. She has conducted train-the-trainer workshops on BizKid$, Financial Football, and student-run branches. At the 2014 Southeast Credit Union Conference & Expo, Lewis served as an instructor at a director’s institute and also an instructor for the Young Professionals Group financial education training.

“I am excited to join the League where I’ll be able to help many credit unions with their needs, including financial education and reaching their communities,” said Lewis. Her addition to the cooperative initiatives team enhances the League’s financial education outreach initiative, an important component of the strategic plans for both the League and the Southeastern Credit Union Foundation.

Lewis will serve as the financial education team leader for the cooperative initiatives department and will also serve

as the member relations consultant for the credit unions in the Tampa, Sara-Mana, Southernmost, and Broward chapters. Her responsibilities will include executing the Small Asset Size Credit Union Program at the credit unions in those areas, as well as chapter development, growing the Young Professionals Group program, and other member relations activities.

Part of the increased focus on financial education includes making credit unions aware of the available financial education resources, providing resources to support financial education initiatives, and tracking the financial education activities of all credit unions. Credit unions are

encouraged to report financial education-related presentations to www.nyib.org. This data is collected and used to show lawmakers and other community leaders the difference credit unions are making in their communities. If you have any questions about submitting information, contact Lewis at [email protected].

Realignment of member relations consultants and chapter territories

With the addition of Lewis to the Cooperative Initiatives team, the department has undergone a realignment of territorial responsibilities.

Cooperative Initiatives Department Welcomes New Team Member, Realignment of Chapter Territories, and ConsultantsBy Laura Vann, vice president, Cooperative Initiatives, LSCU

INITIATIVES

Cooperative Initiates VP Laura Vann (left) with new team member Juli Lewis during her first week at the League.


After five years of working with the credit unions in South Florida, David LeNoir will focus on credit unions closer to his home base in Alabama. LeNoir will serve as the member relations consultant for the credit unions in the Mobile, Tuscaloosa, Northeast Alabama, and Shoals chapters. He will also serve as the liaison to the above chapters, working with them to enhance their programs and build broader participation from the credit unions in each area.

April Ales will continue to serve as the Young Professionals Group team leader, focusing on building YP programs in each chapter in Alabama and Florida. She will also serve as the member relations consultant serving credit unions in the Montgomery and Wiregrass chapters in Alabama and the Northwest Florida, Gulf Coast, and Tallahassee chapters. Ales will also serve as the liaison to each of the chapters. She will continue overseeing all of the outreach programs housed under the cooperative initiatives umbrella in her assigned areas.

Judy Scott will continue to serve as the chapters team leader, focusing on gathering data on chapter events from all 19 chapters for the chapter calendar on www.lscu.coop , providing resources to chapters on the LSCU website, and communicating LSCU highlights to chapter presidents. Scott will also serve as the member relations consultant for the Central Florida, North Central, Northeast Florida, and Palm Beach chapters. As with the other member relations consultants, Scott will implement departmental initiatives in her assigned areas.

The chapter map shows the geographic areas served by each member of the Cooperative Initiatives team, as well as the LEVERAGE representative serving each area.

The cooperative initiatives department includes membership relations, small credit union development and support, chapter development, international partnerships, and financial education. The cooperative initiatives team also provides support to

the Southeastern Credit Union Foundation’s fundraising activities, including support for Children’s Miracle Network Hospitals in Alabama and Florida.

If you have any questions about the programs and services available from the League’s cooperative initiatives department, contact me at [email protected] or your member relations consultant.

Laura Vann continues as the vice president, Cooperative Initiatives, and will also serve as the liaison to the Birmingham Chapter and provide support to small asset size credit unions in the Birmingham area.

LSCU Regional Consultants

Alabama RegionBDC: Mike Baswell, x2151CI: David LeNoir, x2158Lauderdale, Colbert, Franklin,Lawrence

BDC: Mike Baswell, x2151CI: David LeNoir, x2158Marion, Winston, Fayette, Lamar, Walker,Pickens, Tuscaloosa, Greene, Hale, Sumter

BDC: Mike Baswell, x2151CI: Laura Vann, x2181Jefferson, Shelby

BDC: Mike Baswell, x2151CI: David LeNoir, x2158DeKalb, Cherokee, Etowah, Blount, St. Clair, Calhoun, Cleburne, Talladega, Randolph, Clay

BDC: Mike Baswell, x2151CI: April Ales, x1038Bibb, Perry, Dallas, Chilton, Autauga, Lowndes, Coosa, Elmore, Tallapoosa, Lee, Montgomery, Russell, Bullock,Macon, Chambers

BDC: Mike Baswell, x2151CI: David LeNoir, x2158Choctaw, Marengo, Wilcox, Monroe, Clarke, Conecuh, Washington, Escambia, Mobile, Baldwin

BDC: Mike Baswell, x2151CI: David LeNoir, x2158Limestone, Jackson, Madison, Marshall, Morgan, Cullman

BDC: Mary Elicia Del Santo, x1144CI: April Ales, x1038Butler, Pike, Barbour, Crenshaw, Covington, Coffee, Geneva, Houston, Henry, Dale

Florida RegionBDC: Mary Elicia Del Santo, x1144CI: April Ales, x1038Escambia, Santa Rosa, Okaloosa

BDC: Mary Elicia Del Santo, x1144CI: April Ales, x1038Walton, Holmes, Washington, Bay, Jackson, Calhoun, Gulf, Liberty, Franklin

BDC: Steve Pullara, x1164CI: April Ales, x1038Gadsden, Leon, Wakulla, Jefferson, Taylor

BDC: Steve Pullara, x1164CI: Judy Scott, x1062Madison, Lafayette, Dixie, Hamilton, Suwannee, Gilchrist, Levy, Columbia, Union, Bradford, Alachua, Clay, Putnam, Flagler, Marion

BDC: Steve Pullara, x1164CI: Judy Scott, x1062Baker, Nassau, Duval, St. John’s

BDC: Steve Pullara, x1164CI: Juli Lewis, x1108Citrus, Hernando, Hillsborough, Pasco, Pinellas

BDC: Steve Pullara, x1164CI: Juli Lewis, x1108Manatee, Hardee, Sarasota,DeSoto, Charlotte, Lee, Collier

BDC: Steve Pullara, x1164CI: Judy Scott, x1062Volusia, Lake, Sumter, Seminole, Orange, Brevard, Osceola, Polk, Highlands

BDC: Mary Elicia Del Santo, x1144CI: Judy Scott, x1062Indian River, Okeechobee, St. Lucie, Martin, Glades, Hendry, Palm Beach

BDC: Mary Elicia Del Santo, x1144CI: Juli Lewis, x1108Broward

BDC: Mary Elicia Del Santo, x1144CI: Juli Lewis, x1108Miami-Dade, Monroe



The Southeastern Credit Union Foundation (SECUF) is dedicated to serving credit unions in Alabama and Florida through

professional development of credit union staff and volunteers, financial education programs, and other valuable resources including disaster relief for our credit unions and their communities. To provide these services, the Foundation relies on fundraising programs and support from our vendors, preferred partners, communities, and, most importantly, our credit unions.

There are many ways that credit unions can participate in helping the Foundation meet its goals. Opportunities include the Fair Share Program, Charitable Donation Account, Signature Foundation Events, and support of Children’s Miracle Network Hospitals.

Fair Share ProgramOne of the most successful ways for

credit unions to provide support to the Foundation is through the Fair Share Program. This option allows credit unions to participate in the Foundation’s ongoing efforts through an annual fair share contribution based on each credit union’s membership size. A $0.05 per member fair share amount was utilized by both the Alabama Credit Union League and Florida Credit Union League prior to consolidation and proved to be a successful andamenable method of providing support to the Foundation.

In 2014, the Foundation restored the Fair Share Contribution program and

credit unions came together to provide valuable funds that allowed us to build upon our programs. This year a letter explaining the Fair Share Program and indicating each credit union’s fair share amount was included in the annual dues packet. A successful fair share program will significantly impact the SECUF and our mission of serving as a catalyst for credit unions to collectively effect change through charitable giving and education.

Charitable Donation Account (CDA)

A Charitable Donation Account is a hybrid investment opportunity that allows credit unions expanded investment powers to realize a greater return on their investment while also supporting charitable organizations such their state and

national foundations. To qualify as a CDA, the primary purpose of the investment must be to fund charitable contributions with a minimum of 51 percent of the earnings and capital gains being distributed to NCUF. Contributions from the CDA will be shared 50 percent to NCUF and 50 percent to the state foundation.

NCUF has a partnership agreement with MEMBERS Trust Company which is owned by credit unions and operates as a wealth management firm regulated by the Office of the Comptroller of the Currency.

The SECUF sees the Charitable Donation Account as a win-win for both the credit union and the state/national foundations and as such, will be a making it a priority focus in 2015 and future years.

FOUNDATION

How Credit Unions can Support the Southeastern Credit Union Foundation By Leonard Parkhurst, director, Southeastern Credit Union Foundation


Foundation Signature EventsThe signature events of the Foundation

are the golf tournament and silent auction held each year in conjunction with the Southeast Credit Union Conference and Exposition (SCUCE) and the golf tournament held in conjunction with the Southeastern Leadership Development Conference (SLDC). ■■ Southeastern Credit Union

Foundation Annual Conference Charity Golf Outing The 2015 SCUCE Charity Golf Outing will occur on Wednesday, June 17, at the Ritz Carlton Grande Lakes Golf Club in Orlando, Florida. The tournament will benefit the programs of the Southeastern Credit Union Foundation. Opportunities to win prizes include the putting contest, proximity contests, and first place and second place winning teams. Mulligans and super ball packages will be available for purchase also. Last year’s event attracted 113 golfers who enjoyed a great morning of golf on one of Florida’s best golf courses.

■■ Southeastern Credit Union Conference Silent Auction Each year, during SCUCE, a silent auction is held on the last evening of the conference. The silent auction has been one of our top fundraising events over the past several years. With the help of the CO-OP Financial Services Miracle Match, the auction raised $20,000 for the Children’s Miracle Network in 2014.

■■ Southeastern Credit Union Foundation Annual SLDC Charity Golf Outing The 2015 SLDC Golf Tournament will occur on Wednesday, Nov. 4, at the Sandestin Beach Golf Resort in Destin, Florida. As with the SCUCE tournament, event proceeds will provide valuable funds to further the mission of the Foundation and support its programmatic needs.

Financial Education and Literacy Programs

The Foundation is increasing its focus and efforts in regards to financial education and literacy. In addition to our existing programs such as FiCep, BizKids, NEFE, and in-school branches, the Foundation will be working more closely with schools to provide better centralized resources for teachers and additional programs related to National Literacy Month. We will also be collaborating with the League’s governmental affairs department on their financial literacy task force.

Children’s Miracle Network Hospitals

Supporting CMN has been a focus of credit unions for many years and SECUF has always made it a priority to provide assistance and guidance to credit unions with their CMN fundraising efforts. Some of the more popular fundraising events include Miracle Jeans Day, Change a Child’s Life Coin Drive, Holiday Icon Sales, and, most recently, Shop for Miracles. One of the most effective fundraising tools is the CO-OP Miracle Match Program that will match a credit union’s fundraising income dollar for dollar up to $10,000 for qualified events. Larger matches are available for events raising $50,000 or more. The Foundation encourages credit unions to participate in fundraising for CMN as all money raised stays with your local CMN hospital.

As we enter into 2015, remember that the Southeastern Credit Union Foundation is your foundation. It was established, as our mission statement says, “to serve as a catalyst for credit unions to collectively effect change through charitable giving and education.”

To learn more about the Southeastern Credit Union Foundation, visit our website www.supportourcucommunity.org, or contact Leonard Parkhurst, SECUF director, at [email protected].

EDUCATION

LSCU Education Department Welcomes Two Team MembersBy Teresa Gray, senior director, Education, LSCU

The LSCU Education Department is pleased to announce the addition of two new employees to its team. Jo Beth Wicks, events coordinator, and Summer McKanstry, events manager, have hit the ground running to help provide top-notch speakers along with current and relevant content for our meetings and for attendees.

Jo Beth and Summer will be working closely with Julianne Tally and me to enhance, not only on our signature events but, our workshops as well.

Jo Beth comes to the League with association experience, working the past couple of years with the Alabama Optometric Association in Montgomery, where she served as the director of events and communications. Her role at the AOA provided her with the experience that she can apply to further enhance the League’s education department. Jo Beth earned her bachelor’s degree at Auburn University at Montgomery.

“I have felt very welcomed at LSCU by staff and credit union members,” said Jo Beth. “As part of the education team, I am excited to work closely with my department to fulfill goals and provide new ideas from my previous experience. I feel that LSCU is focused on the growth potential for both its staff and its members.”

Summer comes to the league with association experience as well. She worked three years with the Florida Society of Association Executives in Tallahassee as the director of education and events. She worked for five years in various positions with the Florida Bar Association. Summer held the positions of public information assistant, public information coordinator, and, prior to her departure, program administrator/event planner. She received her Bachelor of Arts from Saint Augustine’s University (NC) and her Master of Science from Florida A&M University.

“Coming from a background in associations, I was extremely impressed with the League’s educational offerings,” said Summer. “I

look to add my events expertise to help enhance the education team and continue the success of LSCU conferences and workshops.”

We’re extremely pleased that they made the decision to be a part of our team and the LSCU. With their combined experience, the department will reach new levels.

We now have our 2015 calendar of educational events available. Be sure to review and determine which events are good fits for you. If you have any questions about our events, please do not hesitate to contact one of our team members. Contact information may be found in the directory in the back of this magazine or on www.lscu.coop.

Summer McKanstryJo Beth Wicks

We’re extremely pleased that they made the decision to be a part of our team and the LSCU. With their combined experience, the department will reach new levels.


EDUCATION

Listed below is the 2015 LSCU & Affiliates Events Calendar. Estimated registration fees are listed to support your credit union in its budgeting process. Scholarships and SAS Initiative Accounts are available to assist with the financial investment of training and development. Details for each event and information on educational financial aid can be found at www.lscu.coop. Questions may be directed to the Education Department at 866.231.0545 x2172 or x2110.

Upcoming Learning Opportunities

January 2015

16-17 LSCU Quail Hunt FEDPAC Fundraiser | Steelwood Country Club, Loxley, AL

February 2015

10 LSCU Small Asset Size Credit Union Conference | Tallahassee, FL

12 LSCU Small Asset Size Credit Union Conference | South Florida

24 LSCU Bank Secrecy Act Essentials & Advanced Workshops | Jacksonville, FL

26 LSCU Bank Secrecy Act Essentials & Advanced Workshops | Birmingham, AL

March 2015

8-12 CUNA Governmental Affairs Conference | Washington D.C.

24-25 Florida Credit Union Association State Governmental Affairs Conference | Tallahassee, FL

April 2015

7-8 Alabama Credit Union Association State Governmental Affairs Conference | Montgomery, AL

21-22 LSCU Chapter Leaders Retreat | Location TBD | invitation only

23 Philosophy in Action Workshop | Location TBD

May 2015

12 LSCU Small Asset Size Credit Union Conference | Tampa, FL

14 LSCU Small Asset Size Credit Union Conference | Birmingham, AL

19 Security | Robbery Training | Orlando, FL

June 2015

5-12 Southeast CUNA Management School | Athens, GA

7-10 Southeast Regional Director’s Conference | Savannah, GA

17-20 Southeast Credit Union Conference & Exposition | Orlando, FL

July 2015

14 LSCU Bank Secrecy Act Essentials & Advanced Workshops | Mobile, AL

16 LSCU Regulatory Compliance Workshops | Birmingham, AL

August 2015

2-5 Southeast Directors & Supervisory Committee Conference | Point Clear, AL

26-28 Southeastern Credit Union Management Association (SCUMA) Annual Meeting |Destin, FL

September 2015

9-11 LSCU/CUES Credit Union Executive Dialogue (Large Asset Size CUs) | Palm Beach, FL

15 LSCU Regulatory Compliance Workshops | Orlando, FL

16-17 LSCU Hike the Hill | Washington, D.C.

23 Collections and Bankruptcy Workshop | Birmingham, FL

October 2015

7 NEW! Technology Workshop | Orlando, FL

20 NEW! Fraud Prevention Workshop | Birmingham, FL

22 NEW! Fraud Prevention Workshop | Tampa, FL

November 2015

4-6 Southeast Leadership Development Conference | Destin, FL

Bold event denotes LSCU & Affiliates Signature Events.

25 www.lscu.coopSIGNAL: Vol. 5, Issue 2

A CU Journal story in early September caught the League’s attention. The story broke down the 5300 Call Report data from the second quarter. Buried deep in the story was this fact: “In 25 states, median membership growth was negative.” Think about that. Half of the states, collectively, are seeing negative membership

growth. The reason it caught the eye of the League is that Alabama and Florida credit unions are experiencing record growth.

How are Alabama and Florida seeing record growth, while so many states are seeing negative growth? The answer is really simple – by working together. The League has run three waves of the LSCU Cooperative Image Campaign. By working cooperatively together on a credit union message, consumers are saturated with ads that emphasize “that a credit union is a better place to do your checking and savings, and rates and fees are usually lower.” This helps consumers understand what a credit union is and what they offer.

Emily Mayben, marketing director at Alabama Teachers Credit Union in Gadsden, AL, says that the Cooperative Image Campaign message sets the table for consumers.

“We cannot get prospective members to open accounts until they not only become familiar with what credit unions are, but most importantly, what we can do for them. As a members interest is heightened, a call to action becomes successful, and in return credit unions experience an increase of membership,” said Mayben.

After the third wave of advertising, which ran May 28 to Aug. 28, independent research backs up Mayben’s point. The Southeast

Institute of Research (SIR) found that 54 percent of the 1,000 consumers in Alabama and Florida polled were familiar with credit unions. The research also found that 62 percent indicated that they are interested in joining a credit union. The key is to get the consumer more familiar with the credit union and then they have a greater chance of joining the credit union. Something Mayben said works when credit unions are working cooperatively.

She says the Image Campaign provides access to messaging and creative that not every credit union can do on its own.

“When I’m looking at the ‘dollars and sense’ side of things, there is no way Alabama Teacher’s budget alone could come close to making as big an impact in our market as the cooperative funds raised through the image campaign. That is where the value of the Image Campaign lies: shared marketing dollars that result in a saturation of messaging in the marketplace that no one credit union could achieve alone,” said Mayben.

Since the Cooperative Image Campaign first launched in 2011, you can see a clear line where membership and asset growth took off in Alabama and Florida. Membership growth had been steady, but not great in Alabama since the Great Recession hit in 2007. Membership had been very flat, and, at times, negative, in Florida during that same time period. Looking at growth numbers over two four year periods yields some interesting results.

From 2007 to 2010, Alabama credit unions added 70,000 new members, while Florida added just 3,000. After the campaign began in 2011, the results have been much greater. Alabama credit unions have added 120,000 new members from 2011 to 2014, while

Cooperative Image Campaign Contributes to Record Growth for Alabama and Florida Credit UnionsBy Mike Bridges, vice president, Communications, LSCU

COMMUNICATIONS

CALL REPORT DATA - MEMBERSHIP

2007 - 20102011 - 2014

FL added 3,000

AL added 70,000


Florida credit unions have added 250,000 new members. There are a number of factors that helped that growth including the Cooperative Image Campaign, an improving economy, and credit unions’ individual marketing efforts.

What the League and its agency, Scout Branding of Birmingham, have also done is put credit unions in spaces they have not traditionally been in before. The 2014 campaign media buy included more online media. This helped the campaign to run longer. Among the online media buys were YouTube (465,000 views), Pandora radio/video (8.9 million impressions), mobile and geotargeting (20 million impressions), and Facebook and Twitter (24 million impressions). With a richer online media buy, the credit union message was in front of more consumers for a longer period of time.

“As the results of the 2014 wave have shown, these avenues have proven to be successful, and I believe will continue to be the benchmark of where and how we reach our target market (Gen X),” said Mayben.

The 2015 Cooperative Image Campaign will feature the same TV and radio ads from 2014, but new shareable online ads will be produced. These ads will have a greater opportunity to be shared through Facebook, Twitter, and YouTube, allowing them a greater chance to go viral. The ads will be funny and, once again, show that joining a credit union saves you money and makes your life easier. It is just another way to reach consumers, get them familiar with a credit union, and get them to eventually join one.

“I think we are on the verge of seeing familiarity become interest and then action through the efforts of the Image Campaign,” said Mayben.

Learn more about the Cooperative Image Campaign at www.lscu.coop and www.betternameforbanking.com.

At the ad shoot for “Wedding Photographer Mom.”

“Shareable content” ads will be the new creative produced by the League for the 2015 Image Campaign. These ads will be for online use and will focus on how people are trying to save money in all the wrong places. The ads will use humor to emphasize that being a member of a credit union saves you money. Credit unions that participate in the campaign will be able to share the ads through their various social channels, online, and throughout their communications channels. The first ad will be ready to view in mid-January.

Coming soon: 2015 Shareable Content Ads

■■ 25 states report negative growth while Alabama and Florida had record growth.■■ The 2007 – 2010 membership growth was good in Alabama and flat in Florida.■■ Membership growth began with the debut of the Image Campaign in the third quarter of 2011.■■ Results of the Image Campaign, improving economy, and credit union marketing working well together.

CALL REPORT DATA - MEMBERSHIP

FL added 250,000

AL added 120,000


NEWS

League News

Contact LSCU Director, Legislative Affairs (FL) Jennifer Martin at 866.231.0545 ext. 1150 or Director, Governmental Affairs (AL) Jason Cochran at ext. 2159.

CUNA GACMarch 8-11, 2015Washington, D.C.

Florida State GACMarch 24-25, 2015

Tuesday – WednesdayTallahassee, FL

Alabama State GACApril 7-8, 2015

Tuesday – WednesdayMontgomery, AL

Important Upcoming Governmental AffairsConference Dates in 2015

League of Southeastern Credit Unions & Affiliates


The 2014 Southeast Leadership Development Conference was held for the first time in Destin, FL this year. The change in venue was enjoyed by all with more than 350 people attending the education sessions, guest events, general sessions, and more.

The evening was highlighted by the grand opening of the exhibit hall and the night concluded with fireworks over the beach, courtesy of LEVERAGE and CUNA Mutual Group.

Ted Kirchharr with Landrum leads a session about current credit union employment and strategic leadership succession planning.

ABOVE: The “Snap Out of It” lady, DeDe Murcer Moffett, having fun with Five Star Credit Union CEO Bob Steensma (left) and Alabama Credit Union CEO Steve Swofford.

ABOVE RIGHT: LEVERAGE Business Development Consultant Mike Baswell hands out LEVERAGE giveaways in the exhibit hall.

RIGHT: Rep. Jeff Miller (R-FL) of Florida’s 1st District speaks at the Governmental Affairs Luncheon at the SLDC.

FAR RIGHT: Many credit unions met Alabama Credit Union Administration Administrator Sarah Moore (right) for the first time, including Alabama One Director Flora Gay. She led a session, along with the NCUA.

Contact LSCU Director, Legislative Affairs (FL) Jennifer Martin at 866.231.0545 ext. 1150 or Director, Governmental Affairs (AL) Jason Cochran at ext. 2159.

CUNA GACMarch 8-11, 2015Washington, D.C.

Florida State GACMarch 24-25, 2015

Tuesday – WednesdayTallahassee, FL

Alabama State GACApril 7-8, 2015

Tuesday – WednesdayMontgomery, AL

Important Upcoming Governmental AffairsConference Dates in 2015

League of Southeastern Credit Unions & Affiliates

The fourth quarter brought some significant changes to our organization in the areas of audit and consulting. These changes are

extremely positive and expected to increase our ability to grow in the near future.

Back in October of 2014, a consolidation occurred between LEVERAGE’s Audit & Consulting services and CU Audit & Compliance Group (CUACG). Both entities have been active with conducting audit work in Alabama, Florida, and Mississippi for LEVERAGE in the past, while CUACG has been primarily responsible for audit work in the state of Tennessee. An objective of the change was to reduce any confusion regarding our credit union relationships through a single standardized name. The consolidated entity will operate as a division of LEVERAGE and assume the CUACG name.

With any structural change, there are certain elements that remain constant to the organization and new elements introduced to the mix. I would like to take a moment and explain exactly what this consolidation means for LEVERAGE—and your credit union—moving forward in 2015.

Elements that will remain the same.

Credit union focus Our commitment to serve credit unions

exclusively remains the overall mission of the group. CUACG’s strong relationship with the NCUA and state regulators, along with our current industry specific certifications, ensure that our staff brings credit unions relevant and timely insight. A large portion of our business comes from positive recommendations and referrals from our existing clients so thank you for sharing your CUACG story with your peers.

Available products and resources CUACG will continue to offer a wide range

of audit and consulting services such as supervisory committee audits, verification of member accounts, ACH audits, Bank Secrecy Act audits, and OFAC assessments. The resources associated with Form 990 tax preparation, as well as our ability to assist with strategic tax planning continue to be our best kept secret. CUACG auditors are also experienced with helping credit unions file the 5300 Call Report in order to prevent regulatory fees.

ComplySightThis solution remains valuable for credit

unions looking to streamline compliance management. ComplySight provides visibility, tracking, measuring, and reporting for compliance activities, allowing credit unions to address compliance initiatives through a single, web-based application. Successful engagement with ComplySight will improve overall readiness for audits and communication of critical regulatory updates.

Elements that will change.

Reach of auditors The consolidation has given us the ability

to expand the number of auditors in the field. CUACG now has remote auditors in Alabama, Florida, and Tennessee so we are able to establish relationships with credit unions in new markets—specifically in Tennessee and Central and South Florida. With more than 200 credit unions using our auditing services in 2014, it is clear that the value of our services is spreading throughout our credit union clients.

Growth opportunitiesWe are exploring additional opportunities

to expand our footprint even more in 2015. Continued growth would offer the following benefits: the expansion of new products and services, depending on credit union feedback; the improvement of core product and services so audit procedures are more efficient; and the ability to add more remote auditors to reach additional markets.

New Name. Same Relationship.CU Audit & Compliance Group Consolidates withLEVERAGE Audit & Consulting By Keith McMurtrie, vice president, Audit & Compliance, LEVERAGE

LEVERAGE

The resources associated with Form 990 tax preparation, as well as our ability to assist with strategic tax planning continue to be our best kept secret.


Access to more certified auditorsPast feedback from credit unions often

addressed the perception that CUACG lacked auditors that hold critical industry certifications. We are pleased that through this consolidation, we now have auditors that hold the designation of Certified Public Accountant (CPA), Credit Union Compliance Expert (CUCE), and Bank

Secrecy Act Compliance Specialist (BSACS). I currently hold

the certifications of Certified

Internal Auditor (CIA) and Certified Credit Union Enterprise Risk Management Expert (CUERME); however, we have more auditors who are CPA and CUCE candidates in 2015.

After reviewing all the elements associated with this consolidation, the change affected much more than just the name. CUACG is now a stronger entity that is better equipped to meet the rising compliance and audit needs of credit unions in our region.

For more information about the services offered by CUACG and our auditors, visit www.cuacg.com.

Through this consolidation, we now have auditors that hold the designation of Certified Public Accountant (CPA), Credit Union Compliance Expert (CUCE), and Bank Secrecy Act Compliance Specialist (BSACS).


LEVERAGE

For credit union executives and directors, the list of priorities for a credit union’s defined contribution retirement plan probably goes something like this:>> Provide a competitive program that helps you attract and retain quality employees.>> Control the plan’s expenses.

>> Meet the fiduciary duties to monitor the program’s investment performance and ensure that the plan is legally compliant.

All of these are important. But one key element is too often missing from the priorities for a retirement plan—following through to see that the program is actually preparing employees to replace their paychecks by the time they retire.

If your retirement plan isn’t accomplishing this goal—or if you don’t know whether it is—it’s time to rethink how you measure the program’s success.

Four Serious Downsides for Credit UnionsA natural concern about an ineffective retirement plan is that

individual employees and their families will suffer financial hardship in retirement. But credit unions must consider other potentially serious negative consequences, such as:

1. Career Log JamYou’ve got talented middle managers ready to move up. They’ve

paid their dues. They get results. But senior managers of retirement age aren’t retiring. According to a 2013 survey by the Associated Press-NORC Center for Public Affairs Research1, 47 percent of working Americans 50 and older now plan to retire at a later age than they expected when they were 40. The top reason they gave for the change is simple—they need the money.

It’s not that you want experienced senior managers to leave—you just don’t want them to stay only because they’re not prepared financially. And the longer they stay, the more young talent you’ll lose.

2. Higher ExpensesDelayed retirements also increase expenses for salaries and

health care. Again, this isn’t a matter of pushing out older employees.

Your goal is to help them end their careers on their own terms, rather than staying longer than they’d planned.

3. Financially Stressed EmployeesAn April 2014 Gallup Poll2 confirms what we in financial services

already know—Americans’ greatest financial worry is not having enough money in retirement. The poll ranked concern about eight financial hardships, such as inability to pay for medical costs, monthly bills, college expenses, etc.

Fifty-nine percent of all those surveyed said they were “very worried” or “moderately worried” about not having enough money for retirement. This result increased to 70 percent for respondents 30 to 49 years old, and 68 percent for ages 50 to 64.

Stress can reduce productivity, impair service to members, and increase healthcare costs.

Rethink Your Credit Union’s Retirement Plan GoalsBy Rob Peters, senior marketing strategist, retirement solutions, CUNA Mutual Group


LEVERAGE

LEVERAGE ePurchasing Calendar

January Armored Car

February Janitorial

March ATM Maintenance, TCD’s TCR’s

April Statement and Check Printing

May Computer Equipment

June Armored Car

July ATM machines

August Office Furniture/ Supplies

September Janitorial

October Construction (Roofing/Rebuild)

November Armored Car

December ATM Maintenance, TCD’s, TCR’s

Credit unions have more leverage through collaborative strategic purchasing events that allow collective contract negotiation, saving your credit union, regardless of asset size, significant time and money. For the past six years, credit unions have collectively saved more than $2.5M using LEVERAGE ePurchasing services.

For more information or to take part in one of these ePurchasing events, contact your LEVERAGE Business Development Consultant or at [email protected].

Upcoming Events for 2015:

4. Damaged Community ReputationThink of employees who have worked for you for decades and

can’t retire with a decent income from your retirement plan. What do they say to their families, friends, and others about their experience? Word of mouth is a crucial channel for credit unions to recruit employees and members.

Track Retirement Plan Success—Beyond ParticipationParticipation percentage is useful for tracking a retirement plan’s

success, but it doesn’t tell the important part of the story. Pay attention to the level of employee contributions. For most

employees, contributing three percent or five percent isn’t going to cut it. If you currently match dollar-for-dollar up to a certain percent, consider matching 50 cents on the dollar and double the percent—you’ll increase contributions without increasing your expense.

Monitor how many employees are taking 401(k) loans. You may

need to work with your plan provider to educate employees about the consequences of these loans.

The most important retirement plan metric may be the percentage of employees who’ve set reasonable retirement savings goals AND are contributing enough to meet those goals. Be sure they have the tools and education to set adequate goals, and to see clearly each month whether their account is on track.

Reach Rob Peters at [email protected].

1 “Working Longer: Older Americans’ Attitudes on Work and Retirement,” Associated Press-NORC Center for Public Affairs Research, October 2013.

2 “Economy and Personal Finance Poll,” Gallup Inc., April 2014.


National Presence. Local Solution.Committed to delivering payment solutions & providing operational support to help you compete in today’s marketplace.

866.231.0545 | www.LEVERAGEcardservices.com

Powered by:

• Cost effective debit & credit processing • Nearly 30,000 surcharge-free ATMs• Consultation from industry experts • Single, streamlined interface• 67 million transactions a year


HELP YOUR MEMBERS PROTECT WHAT MATTERS MOST.

TruStage™ Life Insurance is offered by TruStage Insurance Agency, LLC and underwritten by CMFG Life Insurance Company. The insurance offered is not a deposit, and is not federally insured, sold or guaranteed by your credit union. CUNA Mutual Group Proprietary and Confidential. Further Reproduction, Adaptation, or Distribution Prohibited.MC-979206.1-0714-0816 © CUNA Mutual Group, 2014 All Rights Reserved.

1LIMRA 2014 Insurance Barometer Report. 2TruStage Insurance Policyholder Analysis, May 2014.

With more than 14.8 million members already protected, you can be confident that TruStage Insurance is the right choice to help protect what matters most to your members. 2

Visit cunamutual.com/life or contact your CUNA Mutual Group representative today at 800.356.2644.

Think about it: 80% of adults say people need life insurance— however, nearly 40% of these people have none at all.1 Thisleaves far too many families, potentially your credit union’s families, financially vulnerable if they lose a loved one.

At TruStage ™ we strive to make life insurance achievable for your members. Our proven marketing techniques reach them where and how they shop; our full range of products are designed to be affordable; and our expert support is convenient to access.

DIRECTORY

LSCU DirectoryOffices

22 Inverness Center Pkwy, Ste 200Birmingham, Alabama, 35242

3692 Coolidge CourtTallahassee, FL 32311866.231.0545

OFFICE OF PRESIDENT/CEO

Patrick La Pine, x1002President & [email protected]

Kate Brady, x1060Executive Assistant to President/[email protected]

ASSOCIATION SERVICES

Administration

Jared Ross, x1012SVP, Association [email protected]

Communications

Mike Bridges, x1022VP, [email protected]

Amy Jowers, x1020Director, [email protected]

Natalie Edwards, x1014Communications [email protected]

COMPLIANCE

Bill Berg, x1028VP, Compliance Training & [email protected]

Scott Morris, x2165Director, Regulatory [email protected]

Cooperative Initiatives

Laura Vann, x2181VP, Cooperative [email protected]

April N. Ales, x1038Member Relations [email protected]

David LeNoir, x2158Member Relations [email protected]

Juli Lewis, x1108Member Relations [email protected]

Judy Scott, x1062Member Relations [email protected]

Leonard Parkhurst, Jr., x1154Director, Southeastern CreditUnion [email protected]

Education

Teresa Gray, x2110Sr. Director, [email protected]

Summer McKanstry, x1172Events [email protected]

Jo Beth Wicks, x2172Events [email protected]

Julianne Talley, x1148Director, [email protected]

Governmental Affairs

Jason Cochran, x2159Sr. Director, Governmental Affairs (AL)[email protected]

Jennifer Martin, x1150Director, Legislative Affairs (FL)[email protected]

Andrew Gonzalez, x1010Political Affairs Manager (FL) [email protected]

Blake Westbrook, x2164Political Affairs Manager (AL)[email protected]

Jordan Burroughs, x1008Grassroots [email protected]

Finance & Administration

Buck Holland, x1032SVP, Finance & [email protected]

Tyrell Baker, x1136Director, Information [email protected]

David Hairston, x1132Network [email protected]

Debbie Caruthers, x1116Director, [email protected]

Mike Couey, x2136Finance & Operations [email protected]

Josh Booth, x1118Staff [email protected]

Cindy Greiwe, x1152Staff [email protected]

Parul Handa, x1114Staff [email protected]

Jason Neifield, x1142Director, Human [email protected]

Leia White, x1140HR Consultant [email protected]

David Todd, x1124Facilities & Operations [email protected]

Di Troch, x1054Operations [email protected]

CUSC of Alabama

Tameka Allen, x2178Director, Shared [email protected]

LEVERAGE

Administration

Lisa Burroughs, x1004SVP/[email protected]

Transactional Services

Jay Brady, x1106VP, Transactional [email protected]

Zac King, x1120Director, Transactional [email protected] Jordan, x2176Director, Debit Operations & [email protected]

Win Cooper, x2115Sr. Transactional Services [email protected]

Chris Dirmann, x1182Director, Card [email protected]

Angela Harris, x1190Card Services [email protected]

Amy Bryant, x1196Sr. Member Services [email protected]

Gwen Davis, x1186Member Services [email protected]

Robert Plant, x1194Member Services [email protected]

Jackie Singleton, x1184Member Service [email protected]

Tieshia Akins, x1182P/T Member Service [email protected]

Linda Medina, x1200P/T Member Services [email protected]


Audit & Compliance Consulting

Keith McMurtrie, x2133VP, Audit & Consulting [email protected]

Kathy Hollifield, x2140Senior Auditor/Office [email protected]

Michael Hemminger, x1096Staff [email protected]

Marcus King, x2141Staff [email protected]

Kathy Reynolds, x2121Audit [email protected]

Mark Wilsie, x2142Audit [email protected]

Shawna Southerland, x2144Senior [email protected]

Vickie Taylor, x2145Senior [email protected]

Bonique Turner, x2124Staff [email protected]

Arden Ward, x2132Staff [email protected]

Brett Carpenter, x2135Staff [email protected]

Tom Clemente, x2123Staff [email protected]

Laura Heard, x2131Audit & Compliance Support [email protected]

Product Management

Keith Hopkins, x1170VP, Product [email protected]

Deirdre Rhodes, x1104Product Support [email protected]

Kelli Silvernale, 866.949.6220Director, Vendor [email protected]

Karen Ruggiero, 866.949.6220Sr. Contract Management [email protected]

Kim McCallum, 866.949.6220Contract Management [email protected]

Rhea Oaks, x1146Product [email protected]

Brooke Collins, x1050Contract Management [email protected]

Robert Williams, x1030Contract Management [email protected]

Alicia Haskew, x1044ePurchasing [email protected]

Cody Zinker, x1188Due Diligence [email protected]

Product Developement

Marvin Garland, x1102Chief Innovation [email protected]

Jordan Sullivan, x2137Business Analytics [email protected]

Marketing

Ryan O’Connor, x1072VP, [email protected]

Mike Wewerka, x1040Marketing Production [email protected]

Detra White, x1156eMarketing [email protected]

Business Development Consultants

Michael Baswell, x2151Business Development [email protected]

Mary Elicia Del Santo, x1144Business Development [email protected]

Steve Pullara, x1164Business Development [email protected]

LEVERAGE PARTNERS

CO-OP Financial ServicesEnhance services to your members by expanding your ATM service delivery channels through more than 28,000 surcharge-free ATMs.

ComplyTracAutomated compliance solution that streamlines compliance procedures and reduces costs.

CU Members MortgageEarn fee income based upon your participation in the origination and/or temporary funding of loans and build your mortgage loan portfolio.

CU Solutions GroupCU Solutions Group provides credit unions with marketing, membership enhancements, technology, and performance management solutions.

CUNA Mutual GroupInsurance and protection for your credit union and members; lending solutions and marketing programs for bottom-line impact; employee benefits to recruit and retain the right employees.

CUNA Strategic Services, Inc.Access for credit unions to products, services, and technologies.

CUVMFull-service solution working to reduce the burden associated with collecting vendor due diligence and managing vendor relationships that helps credit unions minimize vendor risk.

Ding GuardDing Guard is a service plan designed for automotive lenders who wish to provide paintless dent repair services for their borrowers looking for an extra layer of protection for their vehicle. The Ding Guard service plan provides automotive lenders the ability to earn new non-interest income.

John M. Floyd & AssociatesEarn non-interest income and provide an overdraft protection program to members.

Landrum ProfessionalOutsource most of your daily human resources functions with Landrum Professional, a full-service PEO.

Member Service CenterMember Security Center is a way for credit unions to offer identity theft protection and monitoring for their members. It can search the Internet and other records to see if the member’s information has been compromised in any way and can provide the member with a credit report and credit report monitoring. The Member Security Center is also a way for the credit union to earn additional non-interest income.

NADAAccess the most current used vehicle values and new vehicle invoices for a wide range of vehicles, 24/7.

Office DepotSave money on office supplies, break room supplies, promotional products, furniture, and computers.

O’Rourke & AssociatesAn exclusive credit union focus on executive and management recruiting.

Remarketing by GETake advantage of preferred auction lanes and best-in-class processes to maximize your recovery dollars for auto liquidation.

Strategic BuyingLeverage credit union buying power to reduce capital expenditures and provide real savings on almost anything you need.

VERAFINDetect BSA/AML fraud with leading-edge compliance and fraud detection software.

VERI-TAXLeader in loan verification to meet the raised compliance and fraud detection standards in the mortgage and consumer credit industries.

Vining SparksCombining strategic support services with broad trading capabilities to execute fixed income securities transactions.

VINtekComplete collateral management solutions help increase operational efficiencies by streamlining processes, reducing user errors, and managing expenses every day.

For more information on any of these solutions, contact a Business Development Consultant at [email protected] or visit www.myLEVERAGE.com.

For information on partnership with LEVERAGE, contact a Product Development Consultant at [email protected].


signal magazine - winter 2014

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