Keeping you connected to key credit union news, events, and trends: June 12, 2019
In This Issue
Headline News

LCUL Distributes Annual Meeting Notice, Call for Delegates
Last week, members of the Louisiana Credit Union League received the official notice and call of the annual meeting that included the minutes from the 2018 annual meeting and proposed bylaw changes. The business meeting will be held at the Hilton Riverside in New Orleans on August 1, 2019 in conjunction with our annual convention.


 

For those planning to attend, please take a minute to register your credit union's delegate. Click here if your credit union needs to make changes to credentials for voting purpose.


 

Questions? Contact Lacey Weaver, Senior Vice President of Member Engagement.
LCUL Acts on Behalf of Louisiana's Military Based Credit Unions
 
Under the Federal Credit Union Act of 1996, the Department of Defense is granted the discretionary authority to waive the cost of credit union land leases, as negotiated between each military installation's base commander and a given credit union. This exemption is restricted in scope to credit unions whose field of membership is at least 95% composed of individuals who are or were at the time of admission into the credit union military personnel, federal employees, or family of those who are or were.
 
Representative Trent Kelly (R-MS) introduced a recent amendment regarding the treatment of credit unions and banks for on-base services. Credit unions would be extraordinarily concerned with the inclusion of any language that would provide rent-free access to military institutions for more complex profit-centered entities such as predatory payday lenders and currently restricted insurance and investment companies.
 
In response to this concern, LCUL wrote to Louisiana Representative Ralph Abraham who currently serves on the Armed Services Committee and who would have the ability to vote 'no' on the proposed amendment.

Click here to view the letter.
Gallman Co-signs Letter to Senate Banking Committee Urging 'Safe Harbor' for Cannabis Banking
LCUL President/CEO Bob Gallman, along with CUNA President/CEO Jim Nussle and other CEOs from state credit union leagues, penned a letter calling on the Senate Banking, Housing and Urban Affairs Committee to conduct hearings on cannabis banking. The letter was addressed to committee Chairman Mike Crapo, R-Idaho, and Ranking Member Sherrod Brown, D-Ohio.
 
In the letter, the CEOs explained that 34 states, including Washington, D.C., have medical cannabis programs, and that 10 states currently have recreational cannabis programs. "The businesses that serve these jurisdictions are thriving and are expected to continue to grow at a fast pace," they wrote. "Although this industry seems to have reached critical mass for future operation, the legislative and regulatory frameworks have not kept pace. A discussion of proposed resolutions to these issues is warranted."
 
The executives noted the lack of legal and regulatory guidance on banking for legitimate pot banking business has created a dangerous and costly environment for all involved since many now operate on a cash basis.  To tackle the issue, the CEOs urged Congress to advance the Secure and Fair Enforcement Banking Act, commonly referred to as the SAFE Banking Act.

Have you Heard?

Ross Talbert Joins Louisiana FCU as Chief Experience Officer
Louisiana FCU welcomes Ross Talbert as Chief Experience Officer. Ross brings over 10 years of experience in the credit union and financial services industries. He will be a key contributor on the Executive Team, who serves to establish the strategic direction for the planning and execution of all aspects of the member experience across multiple business channels including lending, operations, and business services.

"I am thrilled to have Ross join our team. His background, along with a strong commitment to provide an exceptional member experience, is the perfect alignment with our organization's strategic direction. I am looking forward to working with Ross in an executive capacity to continue to grow our Credit Union and provide best-class service to our members," said Rhonda Hotard, President and CEO.
 
Ross previously served as the Senior Vice President and Chief of Branch Operations with Mainstreet CU ($463MM) in Lenexa, Kansas and as the Vice President of Payment Solutions with Arkansas FCU ($1.2B). Ross graduated from Arkansas State University with a Bachelor of Science in Interdisciplinary Studies and earned a Certified Senior Executive designation from the Credit Union Executive Society.
La Capitol FCU Provides Free Financial Literacy Instruction
La Capitol FCU recently launched its Financial Education Task Force, through which the credit union provides free financial literacy education to Louisiana citizens. The task force hosts free, live webinars each month and customized on-site training on request.

 On June 26, La Cap's Jeremy Dunbar will host a webinar to teach college students best practices for handling money and managing student loans. According to NitroCollege.com, Americans owe more than $1.5 trillion in student loan debt. Research suggests that it actually takes four-year degree holders an average of 19.7 years to pay of their student loans. Through this webinar, the Financial Education Task Force seeks to provide students and parents with strategies to prepare for a bright future, while remaining financially healthy.

"La Cap was created in 1961 with the mission of improving the financial well-being of our members," said Michael Hooper, President/CEO of La Capitol FCU. "Our Financial Education Task Force represents an opportunity for us to expand that mission by assisting Louisiana citizens who may not be members of our credit union, but whose financial well-being would benefit the entire state. This is one way we at La Cap can give back to our statewide community."
Quote of the Week:
"In the midst of chaos, there is also opportunity"
- Sun Tzu

Educational Calendar
Upcoming Conferences & Seminars from your League:

June 16-18:   LA/MS Volunteer Conference
June 18: Essentials of Share Accounts
June 25-26: ULend Academy
July 16: Effective Collection Practices
July 31-August 3: LCUL Annual Meeting & Convetnion 

Upcoming Teleconferences & Webinars from your League:

June 13: Call Report Series: Financial Accounting & Reporting
June 18: Reg E Fundamentals
June 19: Electronic Returned Items: Combating Fraud
June 20: Effective Debt Collection Techniques & Strategies
June 25: Job-Specific BSA Training for the Board
June 26: Card Data Security: PCI-DSS Risk, Readiness & Compliance
June 27: Living, Grantor & Family Trust Accounts: Common Problems in Account Opening & Lending

For a complete listing of educational opportunities available from LCUL, visit the League website.
Copyright © 2019 Louisiana Credit Union League 
824 Elmwood Park Blvd, Suite 200, Harahan, LA  70123
(800) 452-7221   www.lcul.com