Headline News

LCUL Gathers Heavy Hitters for Virtual Roundtable

LCUL has gathered a strong delegation of participants for a virtual roundtable on Thursday, April 16 at 11:00 a.m. to discuss COVID-19 related issues, procedures, policies, and more. At this time, industry insiders will be available to provide updates as well as answer any questions you may have. Below are the individuals scheduled to participate: 
  • Keith Morton - NCUA Regional Director
  • Jonathan Finley, Sid Seymour - Office of Financial Institution (LOFI)
  • Jeff Brooks, Rob Rieger - Adams & Reese, LLC
  • Jonathan Kudulis - Kudulis, Reisinger, and Price (KRP) Law Firm
There is no cost but registration is required.  Click here to register. We will send out log in information prior to the call on Thursday morning.

Participants are encouraged to submit questions in advance by emailing support@lcul.com by 3:00 p.m. on Wednesday, April 15. For additional questions, contact the league's Advocacy Department
LCUL, Leagues Advocate for CU Eligibility in Paycheck Protection Program
LCUL, along with CUNA and other Leagues, sent a joint letter to the Treasury and Small Business Administration (SBA) Friday afternoon sharing our concerns with the interim final rule for the Paycheck Protection Program (PPP) loans created by the recently enacted CARES Act.

Among the concerns outlined in the letter was borrowing by credit unions. Credit unions are excluded under the general SBA regulations from being a business that is primarily a lender and also to be a SBA borrower. We are urging the SBA to temporarily modify the rule to allow credit unions to borrow under the Paycheck Protection Program.

Read the signed letter that was sent to the Treasury and SBA.
LCUL Distributes Summary on CARES Act
Last week, LCUL distributed a summary on the recently passed CARES Act.  LCUL worked with our partnering leagues to put this summary together for credit unions. We hope this guide will help you and your team with any operational questions you may have. Please consider sharing this with your frontline and member facing staff. As always, please reach out to our compliance department  if you have any questions. We also have our compliance hotline for member credit unions to access: (888) 290-4589.

4th Quarter LA Credit Union Profiles & Milestones Report Available on LCUL Website