Q210 Signal

Volume 1: Issue 2

The Magazine of the League of Southeastern Credit Unions

Summer 2010

EconomicRecovery

INSIDE LSCUCredit Union Leading By Example

Tracking TDR’s

Save to Win Program

Upcoming Conferences

2011 Image Campaign

The Light at the End of the Tunnel

Call us at 866.231.0545 x1144 or visit us online at www.myleverage.com.

Through national partnerships and

collaborative purchasing solutions, we

save credit unions money by negotiating

group contracts and leveraging the

purchasing power for the benefit of credit

unions of all asset sizes.

Collaborative

Buying

Connections

CostReduction

GROWTH

4 Message from the President

5 CU President Profile

6 Feature Article

8 Advocacy

10 Legislator Profiles

13 Compliance

14 Cooperative Initiatives

16 Foundation

19 League Education

22 League News

24 LEVERAGE

26 Directory

6 | Feature ArticleAn Alabama and a Florida credit union speak on the recession’s road to recovery.

10 | Legislative Profi lesAlabama’s Representative Marcel Black and Florida’s Congressman Bill Posey answerLSCU’s questions.

21 | CommunicationsImage campaign for Alabama and Florida coming in 2011.

HIGHLIGHTS

EditorAmy Jowers

Contributors:Mike BridgesJustin ThamesBill BergLaura VannAnita Stoumbelis

Production:Detra WhiteApril Banta

Letters to the Editor may be submitted at [email protected].

COMING SOON How social networking can work for you.

Table of Contents

3 SIGNAL: Vol. 1, Issue 2 www.lscu.coop

Message from the PresidentThe economy is on everyone’s mind. Computer screens and office TVs are

constantly on the financial channels checking the markets. The near 400-point drop for the Dow in early May sent shockwaves through all of us. We keep hearing the worst is behind us, but I’m not sure if all Florida and Alabama credit unions completely agree with that.

Unemployment in Florida is at 12.3 percent, which is an all-time high. The unemployment rate in Alabama is 11 percent, which is eight percent higher than the same time period three years ago. The LSCU sent out state economic profiles for 2009 in April and it showed that unemployment continues to impact credit union members. Florida credit unions will also continue to be adversely affected by the ongoing pressure from the housing markets. Our cover story looks at the economic recovery and how it is affecting credit unions in Florida and Alabama. CUNA Economist Mike Schenk believes the pieces are in place for an economic recovery.

The League has been working diligently with CUNA to ensure any new federal legislation has minimal effect on credit unions. We are planning to go back to Washington, D.C. in June to fight inclusion of interchange in the final regulatory reform bill moving through Congress. The state Legislative sessions in Florida and Alabama wrapped for the year with very little impact on credit unions. The expected intensity of this year’s elections in both states drained lawmakers of what to do but the minimum required. The newly constituted LSCU Governmental Affairs Committee (GAC) and the PAC Trustees met to begin the process of identifying credit union friendly candidates running for state and federal offices. Becoming part of the grassroots process will ensure that Montgomery, Tallahassee, and Washington

D.C. have lawmakers that understand the credit union difference and what we are doing every day to better the lives of our members.

Our communications department is working with task forces in Alabama and Florida on statewide image campaigns. We hope to have creative developed by the late summer to show credit unions. The task forces will come together to streamline creative costs with a campaign that both states can use. This campaign will encompass traditional ads, but also utilize online advertising and social media. Fundraising among individual credit unions will begin at the end of 2010 and early 2011 so the campaign can kick off in the spring of 2011.

Save the dates for June 29 and July 13. Those are the dates for the LSCU’s Disaster Recovery Conferences in Ft. Lauderdale and Mobile. The BP oil spill reminds us that a disaster can strike without warning. These conferences are

designed to give credit unions the tools necessary to have a disaster plan in place before something happens. A member of the National Hurricane Center will also attend both conferences to give an overview of the upcoming hurricane season.

While the economic recovery may hit Alabama and Florida near the end, we’re working to ensure our member credit unions are on solid ground when we break free from this recession.

Patrick La PinePresident/CEO

Patrick La Pine, President & CEOLeague of Southeastern Credit Unions

The League has been working diligently with CUNA to ensure any new federal legislation has minimal effect on credit unions. We are planning to go back to

Washington, D.C. in June to fight inclusion of interchange in the final regulatory reform bill moving through Congress.

LSCU

4 A Magazine of the League of Southeastern Credit Unions SIGNAL: Vol. 1, Issue 2

Laida Garcia began her career in the financial services industry after graduating from college, working in a community bank as a bookkeeper and later for a national bank as a lender. Her mom, a member of floridacentral Credit Union and the HR Director of one of its SEGs, encouraged her to apply for a job at the credit union. Laida remembers asking her, “Mom, what exactly is a credit union?” Her mom “set her straight” and the next thing Laida knew, she was applying for a lending job at floridacentral, and the rest is history. Joining the floridacentral team in 1980 as a loan officer, Laida established and managed the marketing and business development department, then moved into other management and executive level positions in operations, lending, collections, EVP, and is now CEO.

When asked about the changes she has experienced in credit unions over the years, Laida says that in some ways, there have been huge changes. Yet, in others, things remain pretty much the same.

“Regardless of size, our credit union structure and core philosophies – those qualities that make us unique as financial service providers – remain unchanged despite efforts by the banking community to challenge our ability to do so.”

Competition has also dramatically intensified, causing credit unions to change the way they do business. Today, most credit unions strive to establish a successful sales culture in their organization, no longer able to remain service-oriented “order takers.” While part of their desire to implement a sales culture is based on the need to improve our bottom lines, credit unions by and large remain member-driven rather than profit-driven.

The greatest and most significant change Laida has seen affecting the credit union industry is the current economic environment.

“Yet, credit unions are responding to this challenge with poise, a can-do attitude, and with their members’ best interest in mind.”

As past board member and chairman of the FCUL and FCUL

Service Group Leagues, Laida feels a credit union’s involvement in the league is important.

“Leagues do an excellent job of enabling credit unions to fulfill their mission. First and foremost, the League provides grassroots leadership in the area of political and regulatory advocacy at the state level and works effectively with CUNA at the national level to protect and strengthen the credit union movement. The League also provides excellent educational programs for our employees. With so many regulatory changes currently underway, the need for compliance training has never been greater, and the League has delivered. Credit unions also have turnkey access to a number of financial products and services to better meet the needs of their members.

“I can’t imagine facing today’s political, economic, and regulatory challenges without the leadership and support of my League and CUNA at my back. There is strength in unity, and supporting a League that so ably supports us is a critical aspect of our credit union system model.”

A member of the Hispanic community, Laida believes the opportunities are vast for credit unions serving this market. The Hispanic community needs services beyond the traditional products and services offered by most credit unions, i.e. products like: check-cashing, wiring money home, payday cards – and all at a reasonable cost. Laida co-chairs CUNA’s Hispanic Outreach Task Force which provides credit unions with the right resources to attract and serve members of the Hispanic community. Some of the resources currently available to credit unions are: a free monthly e-newsletter with tips and information about how to better serve the Hispanic market, a file library, a Quick Start Kit, and links to research sites, news and government agencies to assist with the process of gathering information.

floridacentral has begun the process of assisting the Hispanic community by hiring bi-lingual front-line employees, providing marketing materials and documents in both English and Spanish, and by participating in the REAL Solutions program.

CU President Profi le

Laida Garcia, CEOfloridacentral Credit Union

CU PROFILE

Laida Garcia

Credut Union Statistics

Company: floridacentral Credit UnionLocation: Tampa, FloridaAssets: $280,742,978Members: 39,641Shares: $248,769,303Loans: $166,712,977

CONTINUED ON PAGE 22


Signs Point Toward Economic RecoveryDecember 2007: the month when the National Bureau of

Economic Research (NBER) declared what most of us already knew: the United States was in a recession. NBER is the group that officially declares when a recession begins and ends. And although NBER hasn’t officially declared this recession over, economists such as Credit Union National Association (CUNA) Senior Economist Mike Schenk believe we are in an economic rebound albeit it a slow one.

“Nearly all the data we've seen recently point to the fact that consumers are in a better place today than they were six months ago,” said Schenk.

Due to the economic conditions over the last two years, the U.S. Department of Labor reports that the rapid decline of U.S. jobs is more than eight million lost. Like a domino effect, the loss of jobs meant less consumer spending which meant lower (or loss of) revenues for businesses which meant more jobs cut…a vicious cycle. Credit unions were no exception.

“So far this year, our loan business has continued to be muted compared to 12-18 months ago,” said Bill Connor, EVP/CFO of America’s First FCU in Birmingham, AL.

“Overall, our loan volume is down,” said Joseph A. Melbourne Jr., president/CEO of CFE FCU in Lake Mary, FL. “In the mortgage area, we’re selling more into the secondary market now; in the past we used to hold on to the mortgages.”

U.S. payrolls increased in April by the most in four years, spearheaded by gains in private employment which is a sign that the economy is becoming less dependent on government support. The 290,000 increase in nonfarm employment exceeded expectations and followed a 230,000 March gain. However, the

April unemployment rate rose to 9.9 percent from 9.7 percent the prior month because thousands of job-seekers entered the work force, according to a recent Labor Department report. The April labor market - with nearly every major industry adding to payrolls - sent an encouraging message that businesses are confident enough to start adding permanent workers. This is the best job growth rate in four years, but at this rate it takes nearly four months for the economy to grow one million jobs. This rate only recovers one ninth of the jobs that were lost. Clearly, recovery from this recession will be a long drawn out process.

“A rise in unemployment means no money to pay on loans, financial institutions writing down large amounts, draining their capital base,” said Berg. “Falling housing prices meant homeowners owed more on their mortgage than their house was worth. All are factors that aggravated the credit market conditions.”

“Despite low interest rates, I think continuing uncertainty in the job market is keeping most consumers focused on saving rather than borrowing,” said Connor.”

“We’ve probably modified about 1,000 loans so far,” said Melbourne. “On the mortgage side, about 95 percent of those whose loans were modified are still current today.”

According to CUNA’s Schenk, national indicators showing consumers are in a better place are that credit markets have returned to (toward) “normal;” housing has shown signs of stabilization; consumer confidence is up, i.e. employment picture is brighter, stock markets generally higher; spending is following; the economy is growing; and there is little inflation pressure.

Gross Domestic Product (GDP) measures the values of all goods and services produced within the United States. It is the best measure of the country's economic health. In the fourth quarter of 2009, the GDP increased 5.7 percent after increasing 2.2 percent in the third quarter, according to estimates released by the Bureau of Economic Analysis. The National Association for Business Economics predicts moderate economic quarterly growth in the three-percent range through the rest of this year.

According to the NBER “Economic Fluctuations and Growth” program report, the GDP and payroll employment (nonfarm employment) were the two main indicators the committee considered in deciding on the dates of turning points in economic activity. December 2007 was the exact peak of employment, but GDP reached a slightly higher value in the second quarter of 2008. Both measures plunged in late 2008 as the financial crisis took hold. GDP began to grow in the summer of 2009 but

“In Alabama, the factors are easing a bit faster than in Florida,” said LSCU Vice President, Regulatory Affairs Bill Berg, author of the LSCU’s quarterly State

Economic Profiles. “We are seeing some hope in both states, but it is a bit further

behind the U.S. recovery.”

FEATURE


Signs Point Toward Economic Recoveryemployment continued to decline. The percentage drop in employment in the current recession was the largest since the government began the collection of the data in 1939. The huge difference between the recent behavior of output and employment reflects the unprecedented growth of productivity in 2009.

“We believe this [muted loan business] will continue to be the case throughout the remainder of 2010,” said Connor. “We don’t look for lending volumes to return to normal levels until well into next year.”

“I think we’re starting to see the end of this,” said Melbourne. “The most difficult thing has been to try to see the light at the end of the tunnel. But we’re beginning to see it.”

The Federal Reserve sees the 2010 economic recovery as “proceeding at a modest pace and that the deterioration in the labor market was likely coming to an end.”

“The Fed is likely to begin to raise interest rates later this year, but the increases will be small and incremental because the recovery will be muted by historical standards,” said Schenk. “Loan growth will remain weak which suggests that

investment portfolios will continue to grow, putting downward pressure on credit union asset yields.

“Of course the countervailing influence will be the fact that inflation concerns are apt to push longer-term market rates higher keeping the yield curve steeply sloped - and that should help credit union bottom lines.”

Credit unions in Alabama and Florida will continue to feel the struggles of the economy. As Schenk said, their bottom lines will be impacted eventually. If the rest of the country sees the road to recovery, it will make its way down south. The road will remain long, but the sign on the side of the road is getting bigger. ■

“The Fed is likely to begin to raise interest rates later this year, but the increases will be small and incremental because the recovery will be muted by historical standards,” said Schenk. “Loan growth will remain weak which suggests that

Projections By CUNASenior EconomistMike Schenk

• Signs of Stabilization in Housing

• Increased Consumer Confidence

• Brighter Employment Outlook

• Generally Higher Stock Markets

• Growing Economy• Little Inflation Pressure


Advocacy

ADVOCACY

Community South Credit Union has been part of the Florida Panhandle community since 1959. Originally the State Road Department Credit Union, it serves more than 7,800 members in Washington, Holmes, and Jackson counties and makes it a priority to be leaders within their community politically and civically.

“People of a community invest in you and you have to invest in the community,” says Jan Page, CEO of the $77 million asset-sized credit union.

Community South commits its resources to numerous community events and civic organizations. It has volunteers and staff participating in many local activities such as Relay for Life, high school youth programs, and community health fairs. These events provide an opportunity for area residents to learn more about credit unions as a financial alternative to banks. The credit unions hands-on involvement stems from the leadership of the credit union board and Page, who also serves on the board of Chipola College.

Community South has developed relationships with state leaders by sponsoring local legislative events for Representative Jeff Miller (R-1), State Representative Brad Drake (R-5), and State Representative Marti Coley (R-7). At each event, Page, a member of the LSCU Governmental Affairs Committee, and her staff share what credit unions do to help their members. This provides valuable feedback to local lawmakers.

“Members of the legislature need to know who you are and know what’s important to your members,” said Page. “I’m going to fight for our members rights, because our rights and privileges will go away if we don’t.”

LSCU encourages credit unions throughout Alabama and Florida to advocate for their members in the community and with the legislative bodies that represent them.

If your credit union would like to learn about ways to become more active in grassroots, contact LSCU Grassroots and Political Action Coordinators Robbie Gordon ([email protected]) or Justin Thames ( [email protected]). ■

Community South Credit Union: Leading by Example

Staff present gifts from a toy drive for children in foster care in Holmes & Washington counties through the

Anchorage Children’s Home

President/CEO Jan Page at Community South’s membership appreciation cookout at their Chipley branch

Community South Credit Union participates in Relay for Life


The Florida Legislature wrapped up its 2010 session April 30. However, there are rumors Governor Charlie Crist will call Legislators back for a “Special Session” to revisit a number of budget items – in Florida, the Governor has line item veto power – as well as “public corruption” and a myriad of other issues.

In an election year, the Legislature usually avoids complex or controversial issues. This year it was a particularly contentious 60-day stretch: the budget was finally agreed upon with only the inclusion of more than $200 million of non-guaranteed federal funds, Governor Crist withdrew from the Republican primary to run as a candidate with No Party Affiliation (NPA), and multiple issues relating to abortion, executive appointments, and condo and homeowner fees/assessments. Through all of this, credit unions were relatively untouched.

Coming out of session, two pieces of legislation are of particular interest to credit unions. One relates to a data match program by the Department of Revenue that would recognize tax delinquents. The Department ran a pilot program several years ago utilizing Bank of America’s database and found five percent of their delinquent taxpayers among BofA’s accountholders. After a three-year fight and the Department agreeing to credit union demands, the League was finally able to succeed in getting the program passed. An exemption was secured for every credit union with less than $50 million in deposits. The exemption makes the Department pay a reasonable fee, not to exceed actual costs, for the credit union’s efforts in fulfilling their request.

The second issue relates to condo/homeowner association dues/fees and assessments. The condo/homeowner associations have long held that financial institutions drag out the foreclosure process in order to not have to pay the dues and assessments for the property in question. Rep. Ellyn Bogdanoff (R-Ft. Lauderdale), who sponsored the bill, pushed through legislation that increased from six to 12 months the amount of dues and fees a financial institution would be liable for. The LSCU worked closely with the bankers to try to avoid this increase but were not successful.

The League Governmental Affairs staff also worked with Visa, the bankers, the Florida Sheriff’s Association, and other law enforcement officials to pass a credit card fraud bill, but was thwarted by the retailers and their allies. While this legislation wouldn’t directly impact credit unions, it was a good consumer-oriented piece of legislation. The legislation would have closed a loophole and made it illegal to possess a stolen credit card whether the person possessing the card knew it was stolen.

The election season is now here and credit unions, like never before, need to be involved in supporting candidates who will support credit unions. One-quarter of the Florida House and half of the 20 Senate seats up for reelection will be filled by fresh faces. As highly regulated as credit unions are and as much as they are subject to the unpredictability of legislative action, political action is not a luxury but a necessity and should be considered a cost of doing business.

For additional information on the LSCU’s legislative activities in Florida, contact LSCU Vice President, Legislative Affairs Mark Landreth ([email protected]) at 866.231.0545 x1012. For information on ways to become more politically active, contact LSCU Grassroots and Political Action Coordinator Justin Thames ([email protected]) at 866.231.0545 x1010. ■

The Florida Legislature Adjourned; Returning Home to Campaign

Election SeasonNow Here

As highly regulated as credit unions are and as much as they are subject to the unpredictability of legislative action, political action is not a luxury but a necessity and should be considered a cost of doing business.


ADVOCACY

LSCU Legislator Profile:Marcel Black

1. How did you first get involved working with credit unions?I have worked with credit unions for more than 25 years in my law practice (Black and Hughston, Professional Corporation). My primary work with credit unions has been through providing assistance and advice in the closing of real estate loans.

2. What prompted you to decide to get involved with the Alabama legislature?Politics and the inner workings of government have always interested me. In 1990, I decided to run for the State Legislature in an effort to become involved as a participant in the legislative process rather than just stand by as an observer. It is my hope that I have been a part of making the lives of Alabamians a little better over the past 20 years. I can tell you why I ran for office the first time, it is the third and fourth times that I can’t explain.

3. What issues is Alabama facing that concern you?The budgets for education and general fund are always a chief concern. Providing services to the people is important and expected from the government. It is a real challenge in this time of recession to have adequate funds to meet everyone’s needs. The education of our children, the safety of the public, and the creation of new jobs, while maintaining current ones are the issues that I would put at the forefront that Alabama is facing right now.

4. How do credit unions fit into the economic picture for the Alabama Legislature?Credit unions are an important piece of the economic future of our state. Being member-owned and member-operated, credit unions are instrumental in providing much needed financial services to their members. I have seen firsthand how credit unions respond to the needs of their members and do so quickly, efficiently, and at a low cost. Indeed, members of credit unions are treated as owners and not just another account.

5. How can credit unions help spur the Alabama economy?Credit unions do so currently by providing ever-expanding services to members, whether for the purchase of new and used automobiles and homes or to meet the needs of unexpected emergencies that may arise for members. Credit unions provide capital to people that live in local Alabama communities and to small businesses that are the backbone of local cities and towns. The profit that a credit union makes goes back to its members and stays in the local economy as a general rule. This helps everyone that lives in the community, whether they are members or not. ■

Rep. Marcel Black (D-3) is a four-term State Representative from Tuscumbia, AL. Rep. Black serves as the Chairman of the House Judiciary Committee.

As a lawmaker and an attorney who works with credit unions, Rep.Black understands how decisions made in Montgomery affect main street

businesses like credit unions and how they are able to serve their members.


LSCU Legislator Profile:Bill Posey

1. What role do you see credit unions playing in the financial services industry?Credit unions provide over 90 million Americans with basic financial services and access to credit. As member-owned, non-profit cooperatives, credit unions offer that personal interaction and quality service to people sharing a common affiliation. Members benefit by exercising democratic control over their institutions and enjoy competitive rates since funds are pooled for the benefit of credit union members. Since most credit unions are depository institutions that exercise prudent lending practices, credit union members have a peace of mind knowing that their money is not tied into complex financial practices that contributed to the financial crisis.

2. What prompted you to co-sponsor HR 3380? We are still struggling to dig our way out of the financial crisis. Members of Congress continue to hear mixed messages from federal financial regulators and our constituents about the availability of credit. H.R. 3380 is one of many ways to extend credit to help small businesses make it through these tough economic times. Additionally, despite the challenges ahead, some entrepreneurs are willing and able to move forward in accomplishing their dreams, and credit unions can help offer credit to those with sound business plans when credit is tight.

3. How have credit unions impacted the growth in your area?Credit unions offer those living in East-Central Florida access to financial services and credit whether for a home improvement, an auto loan, or for a small business. We have a wide variety of credit union common bonds so there are many credit union options available for residents of the 15th District. During these challenging economic times, many of my constituents have turned to their credit union to help them meet their financial needs.

4. How do you think credit unions can help with those that are homeless and jobless?Credit unions, owned by their members, are able to work closely with their members when difficult times arise. Credit unions are connected with their communities and promote financial literacy, helping their members make sound financial decisions. Internationally, the credit union approach has excelled as a development model, alleviating poverty and empowering people of modest means to establish small business ventures.

5. Do you belong to a credit union?Yes, I do. Community Credit Union headquartered in Rockledge, FL. ■

Congressman Bill Posey represents Florida’s 15th Congressional District which encompasses most of Brevard County south of the city of Cocoa, Indian River County, most of Osceola County, and a small portion of Northern Polk County. Posey, a Republican, was elected to U.S. House of Representatives in 2008

and is currently serving his first term.


In the first-quarter issue of Signal, Troubled Debt Restructuring (TDR) was featured because it is causing many accounting headaches and, unless this is done properly, credit unions will be exposed to issues from regulators.

All loans and leases that have been modified because of the deterioration in the financial condition of the borrower are considered TDRs under the Generally Accepted Accounting Principles (GAAP) which are the standards under which Certified Public Accountants (CPAs) operate.

As outlined in the National Credit Union Administration’s (NCUA) March Call Report instructions, all modifications (any contractual change to a loan) will need to be tracked. However, loans written to Fair Market Value (FMV) – for example, when a member tells you that they can get a better rate - are not reported.

Per the Call Report Instructions, TDRs are reported as delinquent and must be reported until the debtor has made six consecutive monthly payments (per NCUA). In the past, most CPAs used three consecutive monthly payments before TDRs may be treated as performing as expected. It is also required to calculate the year-to-date of TDRs. Both of these new requirements require a great deal of manual activity to develop good numbers to enter into a credit union’s call report.

Some of the best guidance found on this topic is in the NCUA’s letter 09-CU-19 which provides information about real estate. However, since the NCUA has now expanded this to include all loans and leases, following this letter is prudent.

TDRs should be made under the umbrella of a wise business decision. For example, ABC CU made a $400,000 loan on a $500,000 house in 2006. Unfortunately, the real estate market has since declined and the best the credit union could get on this house in a short sale is $250,000, meaning its

potential loss is $150,000. Furthermore, if the house is foreclosed, the already-depressed real estate market in this area will be further depressed. The member wants to stay in the house but one of the people making the mortgage payments lost their job and they can’t afford the current payments. One option would be offering a combination of lowering the interest rate and/or reducing the principal to lower the member’s monthly payment to something they can pay. It will meet regulatory scrutiny as long as it doesn’t exceed the $150,000 that the credit union would lose by taking over the property.

One suggestion to put in the loan modification contract is that if the house appreciates 15 percent over the next 10 years, the credit union would share in this appreciation.

TDRs, because of the higher probability of default, must be tracked and reported separately in the Allowance for Loan and Lease Loss (ALLL) for the six consecutive monthly payments. After six consecutive payments the loan is no longer considered delinquent but the value of any concessions that were given to the

member will have been charged off which will affect your loss experience ratio for the next several years. ■

Tracking TDR’s

Compliance

COMPLIANCE

Compliance Q&A

Question: A potential member has provided your MSR with a Social Security card that says “VALID FOR WORK ONLY WITH DHS AUTHORIZATION.” Is this a valid government document?

See back cover for the answer.


The truth is...

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benefits and 401(k) programs—a true respect for the members’ valued relationship

with their credit union is at the core of every product and service we offer.

What other financial services company in the world commits more to understanding

the needs of credit unions and their members than CUNA Mutual Group?

We are privileged to partner with you, and are proud of the opportunity

we’ve had to serve members like yours for nearly three-quarters of a

century. For the true story—and proof of our commitment in action—

contact your CUNA Mutual Sales Executive at 1.800.356.2644.

Financial services

designed for credit unions,not “and credit unions too!”

WE ARE COMMITTED TO YOU.CUNA Mutual Group supports and protects its policyholders with over $1 billion in benefits each year.

CH EC KFacT

10000777-0109 © CUNA Mutual Group, 2009 All Rights Reserved.

Cooperative Initiatives

Alabama credit union members responded to the recession with record savings growth in 2009 as they saved more than $1.37 billion. For Florida members, it was a different story as credit unions experienced a negative savings growth rate even though members saved $1.8 billion. The recession has focused attention on the need to save and focus on long-term financial security. According to a recent innovation brief published by the Filene Institute: “The time is right for America to return to a savings culture, both to shore up households’ finances and to strengthen the nation’s economy as a whole.”

As the League of Southeastern Credit Unions (LSCU) looked for ways to enhance the financial skills of consumers in Alabama and Florida, one concept stood out: prize-linked savings. The prototype prize-linked savings program, Save to Win, was implemented in Michigan during 2009. Through a grant from the National Credit Union Foundation (NCUF) and its REAL Solutions program, the LSCU will bring a fun, non-threatening savings program that will appeal to current credit union members as well as the under- or un-banked segments of the public, showing the short- and long-term benefits of goal-setting and saving.

“Financial education for adults is an important priority for the LSCU,” said Patrick La Pine, president and CEO. “Prize-linked savings programs have a successful track record for attracting first-time savers and we will be building on those successes as we introduce the concept in Alabama and Florida.”

Members open a year-long share certificate with as little as a $25 deposit and earn entry in monthly prize drawings and an end of year grand prize drawing. A legal review of the program is under way and it appears as though the prize-linked savings program will be structured differently in Alabama than in Florida.

Prize-based savings has been shown to attract both new, lower-income savers as well as more well-off larger depositors, according to research by Filene and the D2D (Doorways to Dreams) Fund. The project allows participating credit unions, regardless of membership or asset size, to provide their members (and potential members) with a tangible reason for saving and for learning about saving and savings products. The project will provide face-to-face interaction on a regular basis, which will build relationships and make the delivery of financial education easier and less threatening. Specifically, the project will

enable participating credit unions to help existing members reach their savings goals and bring them into branches more consistently; attract new members; help differentiate credit unions from other financial institutions; provide incentive for lower-income members to save; collaborate with and learn from fellow credit unions and the League; and be part of an important project which will impact savings in two states and offer participating members a large, pooled grand prize.

While one Michigan woman was the “winner” of a $100,000 grand prize in the Michigan Credit Union League’s Save to Win program, all of the other 11,600+ participants were also winners as they saved more than $8 million to fund future dreams and to cope with emergencies.

Data provided by the Michigan Credit Union League and the National Credit Union Foundation confirms a positive impact on members:

• 56 percent of participants reported that they had not saved money regularly before opening a Save to Win account

• 64 percent reported that they had never had a share certificate (or certificate of deposit) before opening a Save to Win account

• 39 percent of accountholders were “asset poor” with financial assets (excluding home equity) totaling less than $5,000

• 44 percent reported household incomes of less than $40,000

• 16 percent reported household incomes of less than $20,000

• Low-to-moderate income members achieved savings rates ranging from 2.3 to 5.2 percent, depending on income level

INITIATIVES

On the way for LSCU Credit Unions: Save to Win?”


The LSCU’s Cooperative Initiatives staff has developed an implementation plan for Alabama and Florida and will be introducing the concept to credit unions in both states and encouraging participation.

“Credit unions of all sizes can participate in the prize-linked savings program,” said La Pine.

DCH Credit Union, a $30 million asset credit union with 5,940 members in Tuscaloosa, AL, has already expressed interest in participation. Board members Bernadine Roberts and Ben Horton read about the program in an AARP publication and contacted the Cooperative Initiatives staff about the possibility of implementing a similar program in Alabama.

“A Save to Win program would enable us to reach our strategic goals of attracting young adult members,

meeting the financial needs of the underserved, and providing financial education for our

members,” said Roberts.

For additional information on prize-linked savings programs, comprehensive data is available atwww.realsolutions.coop or www.filene.org.

To discuss participation in the LSCU program, contact Laura Vann, VP, Cooperative Initiatives, at [email protected] or Adena Whitman, Director, Member Relations, at [email protected].■

Michigan 2009Save-to-Win Results

Participating CUs: 8

Total Saving Certifi cates: 11,666

Total Savings: $8,560,382.56

Average Savings Account: $733.79

Member Penetration: 4.3%

Patrick La PinePresident & CEO

“Financial education for adults is an important priority for the LSCU.”


Broward ChapterAlejandra Esteban Stranahan High SchoolFort Lauderdale, FLIBM Southeast Employees FCU

Fania DesinordBoyd D. Anderson High SchoolLauderdale Lakes, FLCity County CU

Gabriela DunkPiper High School Sunrise, FL Priority One

Central Florida ChapterJarrod Fleming Edgewater High SchoolOrlando, FL CFE FCU

Brittany Fetz Lake Gibson High SchoolOrlando, FL MIDFLORIDA

Catalina Chiang The Osceola County School forthe ArtsKissimmee, FL CFE FCU

Brandi Roach Apopka High SchoolApopka, FL CFE FCU

Mary Claire DillardWilliam R. Boone High SchoolOrlando, FLOrlando FCU

Gulf Coast ChapterAdriana Elaine Guettler Chipley High SchoolChipley, FL Community South Credit Union

Nicole YeakosPaxton High SchoolPaxton, FLArmy Aviation Center FCU

April Wester Rutherford High School Panama City, FLPanhandle Educators FCU

Robyn LeAnn Brannan Liberty County High SchoolBristol, FL Envision CU

North Central Chapter Andrew Barber Columbia High School Lake City, FLSuncoast Schools FCU

Northeast ChapterSymiela McClinton Sandalwood High School Jacksonville, FLVyStar CU &Compass Financial FCU

Northwest ChapterKatelyn Ann Murphy Escambia High SchoolPensacola, FL Members First CU of Florida

Janna Ellis Jay High SchoolJay, FL Santa Rosa County FCU

Stephanie Kay Sharp Booker T. Washington High SchoolPensacola, FLMembers First CU of Florida

Zackary William Ables Pine Forest High SchoolPensacola, FL Members First CU of Florida

Palm Beach ChapterReyes Reyes, Jr. Glades Central High School Belle Glade, FLGold Coast FCU

Adrianna Dolphin John I. Leonard High SchoolGreenacres, FLPBC CU

Kristen PenderPalm Beach Lakes CommunityHigh SchoolWest Palm Beach, FLGold Coast FCU

2010 Scholarship RecipientsFlorida high school seniors awarded scholarships through the Florida Credit Union Foundation.

Foundation


Pinellas ChapterVictoria Bryant St. Petersburg High School St. Petersburg, FLAchieva CU

Sara-Mana ChapterJasmine Jordon Booker High School Sarasota, FL Sarasota Municipal ECU

Kayla Helveston Hardee Senior High SchoolWauchula, FLSuncoast Schools FCU

Katherine ColdingDesoto County High SchoolArcadia, FLSuncoast Schools FCU

Southernmost ChapterSehrish Ali Coral Reef Senior High SchoolMiami, FLSouth Florida Educational FCU

Tallahassee ChapterTekevia Melton Godby High SchoolTallahassee, FLScore CU

Emily Marie Poltevecque Lawton Chiles High SchoolTallahassee, FL State Employees CU

Jacob Ian Cunningham Lincoln High School Tallahassee, FLSuncoast Schools FCU

Tampa ChapterEdward William Livesay East Bay High SchoolGibsonton, FL

Kaitlin GreeneThomas Jefferson High SchoolTampa, FL GTE FCU

Cassie Lynn Hoffman Pasco Comprehensive High SchoolDade City, FLSan Antonio Citizens FCU

Jacob James RobinsonDr. Earl J. Lennard High SchoolRuskin, FLGrow Financial FCU

Awarding hopes & dreams to Florida students.


Think POSitive!

Joining the nation’s largest credit union-owned POS network means your credit union receives interchange revenue. There are no exclusivity contracts or hidden fees. And by keeping your business in the credit union “family”, you have ownership and control. Your members win too, because they get surcharge-free cash back at over 500,000 merchant locations across the country. No matter where your members go, their money is conveniently there. It’s a safe and secure, one-stop-shop solution. By joining our network you can have a say in how the network operates. Think POSitive. Think Credit Union 24.

Offer Your Members More. Call Credit Union 24 Today. (877) 570-2824 | www.cu24.com

Credit Union-Owned Point of Sale • Largest Surcharge-Free ATM Access • Half a Million Member Connections

Our credit union-owned POS network is positively great for your credit union and your members.

Most majormerchants across

the nation.

Surcharge-FreeCash Back.

CreditUnion-Owned. Com

petitive

interchang

e

revenue.

LSCU Disaster Recovery ConferenceJune 29, 20108:30 a.m. – 4 p.m. ETFt. Lauderdale, FL

July 13, 20108:30 a.m – 4 p.m. CTMobile, AL

Local threats and the mobile emergency management center, crisis management, threats and risks, regulatory structure and requirement for robust business continuity plans, disaster preparedness ideas and tips, and special loan promotions that you can offer that might be useful to your members to help them mitigate a disaster and then recover from a disaster.

BSA TrainingJuly 29, 2010Tuscaloosa, AL

Bank Secrecy Act Program Oversight, Creation and Maintenance, Risk Assessment, Review of Currency Transaction Reports, Currency Transaction Report Exemptions.

BSA Essentials9:30 a.m. – 11:30 a.m. CTThe BSA Essentials class is appropriate for frontline staff, lenders, and officials. The two-hour class incorporates a Currency Transaction Report workshop in which we study completed forms based on several common scenarios.

BSA Advanced12:30 p.m. – 2:30 p.m. CTThe BSA Advanced class is appropriate for managers and compliance officers. The two hour BSA Advanced class incorporates a Suspicious Activity Report workshop in which we study completed forms based on several common scenarios (focusing on narrative preparation).

Upcoming Conferences

League Education

Disaster Recovery Conference: A disaster can strike at any moment. But, credit unions in Alabama and Florida know that the threat of a disaster is year round, not just during hurricane season. Recent floods in Tennessee drive home the fact that an unforeseen disaster can occur when you least expect it. To keep credit unions up to date on the latest preparedness, the LSCU is offering two Disaster Recovery Conferences this summer. Credit unions can attend in either Ft. Lauderdale or Mobile. Each conference will have a member of the National Hurricane Center speak, along with LSCU Vice President, Regulatory Affairs Bill Berg and Southeast Corporate Vice President, Business Continuity Ken Schroeder. Make plans to attend the LSCU Disaster Recovery Conference in Ft. Lauderdale June 29 or Mobile July 13. Visit www.lscu.coop for more details. ■

LSCU Development Conference: Historically an Alabama Credit Union League event, the LSCU brings credit union executives and officials top-notch training and information through the LSCU Development Conference, November 3-5. CEOs, executive management, and directors won’t want to miss this opportunity to network and learn! The Development Conference will be held at the beautiful Grand Hotel Marriott Resort, Golf Club, & Spa, in Point Clear, AL, and provides a mix of relevant education sessions, motivational speakers, and fun networking activites, including a golf tournament. Attendees will also have the opportunity to interact with industry leaders during the exhibitor showcase. Mark your calendars and join us in Point Clearfor this premier conference! ■

EDUCATION

LSCU Development ConferenceNovember 3-5, 2010

Grand Hotel Marriott Resort, Golf Club & SpaPoint Clear, Alabama

www.marriottgrand.com

Important Conferences for 2010 Save-the-Date

Supervisory Committee Conference

August 1-4, 2010 Point Clear, AL

LSCU Development Conference

November 3-5, 2010Point Clear, AL


THE BENEFITS ARE CLEAR

$5 Membership Fee

No Paid In Capital Requirement

Solvent

Positive ROA

30 Day Notice Account Currently @ 0.47%

No Member Write-O�of PIC or MCA

Looking for a Corporate Credit Union that is di erent from the rest? It’s Corporate America Credit Union. We aren’t afraid to zag when others zig.

Talk to us. We think you’ll like the approach. Contact Member Services at (205) 313-4300 or (800) 292-6242, ext. 150 or visit our website at www.corpam.org.

Communications

When credit unions look back at the economic turmoil of the past two years and the ensuing backlash against the big banks, one sentiment is clear: there has never been a better time to be proactive toward potential members. Credit unions do a great job of advertising and marketing individually, but a cooperative advertising campaign can be sustained for longer periods and show results for credit unions.

In April, Image Campaign Task Forces were formed in Alabama and Florida to lay the foundation for an annual cooperative advertising campaign. In 2009, Alabama created a campaign, “It’s Just What You’ve Been Looking For.” A $250,000 media buy was placed along with the launch of an accompanying website. The Alabama Task Force felt that it was important in 2010 to create a new campaign that hit TV, the web, and social media. Phil Boozer, vice president of marketing at America’s First CU in Birmingham, feels a fresh approach will be more appealing to Alabama credit unions.

“What we did in 2009 was effective. However, the group felt a new campaign that was a little more aggressive and more broad would reach a larger audience,” said Boozer, chair of the Alabama Image Campaign Task Force.

The state of Florida has not had a cooperative advertising campaign before. Two years ago, the Florida Image Campaign Task Force did extensive market research and work toward a campaign. Most of the themes found in the research still hold true today since the economic climate is relatively similar. Angie Coleman-Rao, vice president of marketing at Jax FCU in Jacksonville, says that some of the initial start up costs

will be smaller since much of the previous research will be used in the 2011 campaign.

“For the state of Florida, the foundation for a campaign is there. Now we need to take the research, form a unified message that appeals to all credit unions, and present it around the state,” said Coleman-Rao, chair of the Florida Image Campaign Task Force.

The two image campaign task forces will come together over the summer to determine themes that will appeal to both states and begin to formulate the visual look of the campaign. By late summer or early fall credit unions in both states will have the chance to get a sneak preview. The LSCU President and CEO Patrick La Pine says that the League has made an image campaign a priority.

“I’ve heard from many credit unions that they would support a statewide cooperative advertising campaign. They feel the time is right. As a league, we’re excited to put this campaign together with the task forces and show it to credit unions,” said La Pine.

For more information on the Image Campaign Task Forces in Alabama and Florida, contact LSCU Vice President, Communications Mike Bridges ([email protected]) at 866.231.0545 x1022 or contact LSCU Director, Information Services Amy Jowers ([email protected]) at x1020. ■

COMMUNICATIONS

Image Campaign coming in 2011

“I’ve heard from many credit unions that they would support a statewide

cooperative advertising campaign. They feel the time is right. As a league, we’re excited to put this campaign together

with the task forces and show it to credit unions,” said La Pine.


“We have also made a strong effort to reach out to the Hispanic community by communicating our message to local churches, convenience stores or ‘bodegas,’ and other businesses where Hispanics worship and shop.”

Not only is Laida committed to credit unions on a state level, she is very involved on the national level. She currently serves as a CUNA director and on the board of the National Credit Union Foundation as treasurer. She is also a member of the Filene Research Institute Advisory Council and was recently invited to join WOCCU’s new Global Women’s Leadership Network.

She is amazed by the degree of talent, level of commitment, and energy that her fellow colleagues exhibit as volunteer members of these boards, committees, councils, and networks and that it clearly demonstrates that there are many opportunities for credit union leaders to get involved and to take an active role in giving back to an industry that is made better and stronger by such involvement. However, the biggest challenge at this level comes from a lack of unity exhibited by some credit union leaders.

“If the credit union system is to remain strong and viable, we must all speak with ‘one voice’ on Capitol Hill. Personal differences must be put

aside, and we must all work together for the good of our industry and our members, regardless of the size of your credit union, your charter, or which trade association you are affiliated with. One credit union voice on Capitol Hill.”

Coming from humble origins, a low-to-moderate income household with parents who worked hard to provide for their family and depended on their local credit union to help fulfill their dreams of owning a home or sending their children to college, Laida subscribes to the philosophy of “people helping people.” Other than ensuring the safety and soundness of floridacentral – the manner in which it conducts business, the products or services that are implemented, the policies and procedures that are established – are all viewed from the members’ perspective. She is also a firm believer in leading by example and setting high goals and expectations for me and my employees.

“The ‘if it ain’t broken, don’t fix it’ mentality doesn’t work for me. ‘It ain’t broken’ means ‘you’re not looking hard enough.’ There is always room for improvement, and I believe in presenting challenges that call forth the best in people and bring them together around a shared sense of purpose.” ■

CU President Profi le (Continued)

League News

NEWS

Legacy Community FCU Helping its Community Through KindnessThe LSCU is working with Legacy Community FCU to help gain media attention for its “Do Something Good Campaign.” Legacy has a “Do Good Crew”

that is doing a number of good works in Birmingham, AL and the surrounding area. For six weeks, the crew has performed random acts of kindness for unsuspecting people. The campaign is designed to promote a pay it forward attitude for Legacy’s members. The campaign has garnered quite a bit of media attention. The LSCU helped Legacy secure a feature story in Think Magazine for credit unions. Any credit union that needs assistance in media relations, contact LSCU Vice President, Communication Mike Bridges at [email protected] or 866.231.0545 x1022. ■

Chapter Leaders Share Best Practices & More at LSCU’s 1st Annual Chapter Leaders’ Retreat LSCU hosted its first annual Chapter Leaders’ Retreat in Pensacola, Florida. With 17 of the 20 chapters represented, the meeting brought together

regional leaders to share best practices, program ideas, and strategic planning.“Well organized and active chapters add tremendously to our voice in the legislature, grassroots advocacy, and overall fundraising efforts,” said Patrick

La Pine, LSCU president and CEO. “Creating this powerful network across both states and empowering them through shared information enables the credit unions to broaden and strengthen their local impact.”

Through a variety of speakers and roundtable sessions, the chapters explored the differences in chapter structures, discussed various fundraising and advocacy activities, and the importance of strategic and quality program planning.

“Bringing these credit union leaders together is an important part of meeting the needs of our ever-evolving credit union family,” said Laura Vann, vice president of Cooperative Initiatives. “We will be continuing these kinds of events to facilitate the sharing of information and the exchange of information that enables the League members to work as a single entity across multiple states.”

For more information about becoming a chapter leader or participating in chapter events, contact Laura Vann at [email protected]. ■


The credit union movement began with a simple idea – that people could achieve a better standard of living for themselves and others by pooling their savings and making loans to neighbors and co-workers.

Just as the members of credit unions pool their resources for the good of other members, LEVERAGE works with credit unions to pool their resources, buying power, and collaborative influence to achieve efficiencies, save money, and offer best-in-class products for its members.

LEVERAGE uses the credit union cooperative spirit in its approach to providing products and services for credit unions.

Through carefully reviewed solutions, LEVERAGE offers a variety of products and services that will strategically enhance your credit union’s vision for success. It is essential to integrate solutions that will be the right fit for your credit union’s members, community, and culture.

Before offering a product or service to integrate within credit unions, LEVERAGE conducts a well-defined, thorough due diligence process to ensure that the business solutions we select meet the most stringent requirements. This process begins through a feasibility and quality review to proper risk assessments and planned pilot stages. The product/service is continuously under review to ensure the safety and soundness of the partner providing the solution as well as an ongoing benchmarking strategy amongst competitors in the industry.

By leveraging services, we reach out to credit unions to supply them with tools to make certain they are managing business processes in the most efficient way.

• CU-ACE offers credit unions the confidence that they are meeting regulatory requirements through services provided by certified audit and compliance field experts.

• Ventelligence offers third party vendor management software that formalizes contract management and embraces collaborative buying strategies that saves credit unions significant money.

• HRx offers recruiting services that help credit unions find the talent that fits the culture of their credit union resulting in a hire that is more likely to make a long-term difference within the organization.

As neighboring financial institutions are trudging through the tough economy, credit unions will shine by saving money and having more time to tune in with their members needs. This is the time to LEVERAGE your resources so that the community will take notice of the humble institution that will be the leader in financial services for many years to come. ■

LEVERAGEMary Elicia Del SantoVP, Business Development866.231.0545me.delsanto@myleverage.comwww.myleverage.com

BUYINGPOWER

Collaborative

Buying

Connections

CostReduction

GROWTH

Leveraging systemresources, buying power, and

collaborative influence to chieveefficiencies, save money, and offer

best-in-class products for credit unions.


Partner Profi lesThe consolidation of two strong League service corporations, both offering top quality services to credit unions in their respective states, has

already had a positive impact on credit unions in Alabama and Florida.CU-ACE, Alabama’s highly regarded audit and compliance company, is now offering its wide range of financial and compliance audit services

in Florida. Two credit unions in Florida have already engaged CU-ACE to perform their ACH and BSA Audits for 2010.

Planning for Your ACH AuditThe National Automated Clearing House Association (NACHA)

requires all credit unions that process ACH transactions to perform an annual compliance audit of those operations.

These audits must be completed by December 1 of each year. It’s not too early to reserve your spot to have CU-ACE perform your ACH compliance audit. Why CU-ACE?

• Your audit will be performed by an Accredited ACH Professional.

• CU-ACE’s services include audits for RDFI’s (receiving depository financial institutions) and ODFI’s (originating depository financial institutions).

• CU-ACE is a credit union system company; owned and operated by LEVERAGE.

• CU-ACE has been performing audits for credit unions for more than 35 years.

• CU-ACE’s pricing is most often less than other ACH audit organizations; for example, 2010 RDFI Audits are only $895 flat fee.

For more information, contact a LEVERAGE Business Development Consultant at [email protected]. ■

Generating Smiles One Gift Card at a Time

Giving a gift for any occasion has never been easier with LEVERAGE’s Gift Card Services Program.

Enhance the services provided to your members by offering gift cards at your credit union. The LEVERAGE Gift Card Program has low implementation costs and provides additional income earning opportunities for credit unions.

The cards are loaded through a very simple web-based application. Members enjoy 23 different card designs to choose from with immediate activation. Additional services include the ability to track purchases and check balances online and access to an automated toll-free number for balance verifications.

For more information about gift cards, contact a LEVERAGE Business Development Consultant at [email protected]. ■

www.myleverage.com25 SIGNAL: Vol. 1, Issue 2 www.lscu.coop

LSCU DirectoryLEAGUE

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

3773 Commonwealth BlvdTallahassee, Florida 32303

LSCU Offices Toll Free Number866.231.0545

AdministrationPatrick La Pine, x2113 (AL) x1002 (FL)President & [email protected]

Cassandra Grayson, x1004Association Services Chief of [email protected]

Teresa Gray, x2110Executive Assistant to [email protected]

CommunicationsMike Bridges, x1022VP, [email protected]

Amy Jowers, x1020Director, Information [email protected]

Mary Ventre, x1014Communications [email protected]

ComplianceBill Berg, x1028VP, Regulatory [email protected]

Scott Morris, x2165Director, [email protected]

Cooperative InitiativesLaura Vann, x2181VP, Cooperative [email protected]

Adena Whitman, x2134Director, Member [email protected]

David Lenoir, x2158Member Relations [email protected]

Amber Tynan, x1154Member Relations [email protected]

Jeanie Henson, x1038Member Relations [email protected]

EducationJoy Breedlove, x2162VP, [email protected]

Julianne Talley, x1148Director, [email protected]

Brandy Norvell, x2172Events [email protected]

Becki Payne, x2129Association Services Support [email protected]

Governmental AffairsMark Landreth, x1012VP, Legislative [email protected]

Will McCarty, x2137VP, Legislative Affairs/Staff [email protected]

Justin Thames, x1010Grassroots & Political Action [email protected]

Robbie Gordon, x2164Grassroots & Political Action [email protected]

Tracy Shimanski, x1008Association Services Support [email protected]

Finance & AdministrationCarol Lucas, x2155EVP/Chief Financial [email protected]

Scott Morgan, x1110VP, Finance & [email protected]

Susan Sungelo, x2153CUSC [email protected]

Mike Couey, x2136Accounting [email protected]

Chris Staggs, x2127Staff [email protected]

Angie Moyer, x1116Director, [email protected]

Angie Meisenheimer, x1114Staff [email protected]

Mary Kirkham, x1118Staff [email protected]

Cathy Cameron, x1054Operations [email protected]

Sue McKenzie, x1124Operations [email protected]

Liz Aperauch, x1142Human Resources [email protected]

Phillip Tyre, x1132Director, Information [email protected]

William Ross, x1134Information Technology [email protected]

LEVERAGE

LEVERAGE Toll Free Number866.231.0545

Marvin Garland, x1102EVP & [email protected]

Jo Ellen Christy, x1106Executive Assistant to [email protected]

Transactional ServicesLarry Rodriguez, x2169VP, Transactional [email protected]

Janice Jordan, x2176Director, Transactional [email protected]

Win Cooper, x2115Sr. Transactional Services [email protected]

Tameka Dukes, x2178Shared Branching [email protected]

Chris Dirmann, x1182Director, Card [email protected]

David Todd, x1198Member Service [email protected]

Robert Plant, x1194Member Services [email protected]

Flo Goff, x1192P/T Member Service [email protected]

Giles Paul, x1200P/T File [email protected]

Angela Harris, x1190Card Services [email protected]

Amy Bryant, x1196Sr. Member Services [email protected]

Nikki Anderson, x1184Member Services [email protected]

Barbara Parsont, x1186P/T Member Services [email protected]

Richard Abt, x1152Account Manager, Card [email protected]

DIRECTORY


Audit & ComplianceAshley Mobley, x2121AVP, Auditing [email protected]

Angelic Pritchett, x2133Director, Management Consulting [email protected]

Mallory Pennington, x2138Sr. [email protected]

Krystal Navarre, [email protected]

Melissa Hamner, [email protected]

Lynda Knox, x2135Service Corporation Support [email protected]

Product SupportKeith Hopkins, x1170VP, Product [email protected]

Deirdre Rhodes, x1104Product Support [email protected]

Jean Noel, x1188Product Support [email protected]

Product DevelopmentAnita Stoumbelis, x1140VP, Product [email protected]

Brooke Collins, x1050Service Corporation Support [email protected]

April Brown, x1162Director, [email protected]

Detra White, x1156Production [email protected]

Ashley Hanania, x1030P/T Marketing [email protected]

Lori Vary, 941.747.9646Director, [email protected]

Business DevelopmentMary Elicia Del Santo, x1144VP, Business [email protected]

Lisa Hammock, x1146Business Development [email protected]

Dale Goode, x2177Business Development [email protected]

Dennis Lee, x2151Business Development [email protected]

PARTNERS

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

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

Corporate Business SolutionsStreamline and enhance your payroll, benefits administration, and employee legal compliance processes by outsourcing to Corporate Business Solutions, a Professional Employer (PEO) and Administrative Services Organization (ASO).

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

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.

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

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

KG & AssociatesTake the guess work out of your compensation practices through Compease, a comprehensive, easy-to-use salary administration program.

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

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

NewGroundEnhance your retail delivery with a combination of branding, consulting, branch design and build, marketing, and culture development.

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

OMNIA GroupHire the right person the first time. The Omnia® Profile is a behavior-based employee assessment tool that describes preferred behaviors and predicts potential candidate and employee job compatibility.

Print ResourcesObtain high quality low-cost printing solutions for all of your collateral printing needs and a variety of other marketing services.

SECUREWORKSPrevent intrusion and safeguard your member’s data. SecureWorks is a market leading provider of world class information security services with more than 2,700 clients worldwide.

Telecom RecoveryQuickly recover communications in the event of a disruption in telephone service. Telecom Recovery offers an affordable protection service that enables callers to get through to a credit union’s main phone or fax number, through rerouting technology and recover inbound calls to mass notification.

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

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

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


Compliance Q&AQ: Member service representatives (MSRs) for ABC FCU are required to ask for two types of

identifi cation when opening a new account – documentary (issued by the government and refl ecting a photo) and non-documentary. Potential members will often provide their Social Security cards as a form of non-documentary identifi cation.

A potential member has provided your MSR with a Social Security card that says “VALID FOR WORK ONLY WITH DHS AUTHORIZATION.” Is this a valid government document?

Answer: Yes. According to the Social Security Administration website, this is a valid Social Security card. There are three types of Social Security cards.

The first type shows an individual’s name and Social Security number and permits the individual to work without restriction. This card is issued to U. S. citizens and individuals lawfully admitted to the United States on a permanent basis.

The second type of card shows the individual’s name and number and notes “VALID FOR WORK ONLY WITH DHS AUTHORIZATION.” This card is issued to individuals lawfully admitted to the United States on a temporary basis who have Department of Homeland Security (DHS) authorization to work.

The third type of card shows the individual’s name and number and notes, “NOT VALID FOR EMPLOYMENT.” This card is issued to individuals from other countries who: are lawfully admitted to the United States without work authorization from DHS, but have a valid non-work reason for obtaining a Social Security number or need a Social Security number to get access to certain benefits or services.

SIGNAL MAGAZINE3773 COMMONWEALTH BOULEVARD TALLAHASSEE FL 32303

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