Keeping you connected to key credit union news and trends: March 24, 2021
Headline News
2021 State GAC Keynote Speaker: Lt. Governor Billy Nungesser 
LCUL is excited to announce our 2021 State GAC Keynote Speaker, Lt. Governor Billy Nungesser. Called the “hardest working man in America” by one national media outlet, the lieutenant governor serves as the Commissioner of the Louisiana Department of Culture, Recreation and Tourism. Please join us as he shares his update on those areas along with new initiatives and ways credit unions can assist.

The 2021 State GAC is scheduled for April 22. Participation is membership benefit with no cost to attend. Click here to register today!
The No Nonsense Experience: A Diversity & Inclusion Conversation Series Where We All Benefit
Get ready for something different, something unexpected and something a little bit uncomfortable. The No-Nonsense Experience is not your typical keynote type of presentation. This is not a “sit and listen” online lecture series. This is a facilitated “listening, talking, asking uncomfortable questions, making awkward comments” conversation series where, in the safe space of a small group, you will focus on diversity, inclusion and unconscious bias issues that surround us every day in our communities. 

In each week’s one hour discussion we will investigate a different aspect the “Big 8” areas of Race, Gender, Sexuality, Politics, Age, Ability/Disability, Socioeconomics and Religion.

LCUL has joined together with three other leagues to present this series, so you will be hearing input and sharing ideas with a cross section of credit union professionals from all across the country. Participants will be placed into small groups with trained facilitators who will be posing questions and prompting the discussion in a productive manner. Prepare yourself to start the uncomfortable conversation at your own credit union by starting the conversation here first with us.
Special Election Ushers in First Female Republican in House, Preparation Begins for New State Legislative Session
With just twenty days until the 2021 Louisiana Regular Legislative Session convenes, lawmakers and lobbyists alike are busy reviewing and filing legislation for the 60-day fiscal session that starts on April 12. Providing a bit of distraction from the pre-session restlessness were the handful of state and local elections that occurred this past Saturday. Below is a brief recap of state congressional election results:

2nd Congressional District: State Senators Troy Carter and Karen Carter Peterson, both Democrats from New Orleans, will head into the April 24 runoff. Carter led with 36 percent of the vote to Peterson’s 23 percent. The district, formerly held by Cedric Richmond who vacated the seat to join President Joe Biden’s administration, covers stretches of New Orleans, the West Bank of Jefferson Parish, the River Parishes, and North Baton Rouge.

5th Congressional District: Julia Letlow (R-Start) won the special election outright with 65 percent of the vote, besting 11 other candidates. Letlow is the first Republican woman elected from Louisiana to the House. A senior administrator at the University of Louisiana at Monroe, Letlow succeeds her husband Luke, who won the seat in December 2020 before succumbing to COVID-19 three weeks later. Her district covers 24 North Louisiana parishes consisting of farms, small towns, and the cities of Monroe and Alexandria.

Stay connected with LCUL for more advocacy updates regarding the state legislative session and bills that could affect Louisiana credit unions.
LCUL Co-signs CUNA Letter to NCUA on Rulemaking Aimed at PCA Relief
The Louisiana Credit Union League President/CEO joined credit union leagues around the country in signing a CUNA letter to the NCUA leadership on Friday. The letter urges the agency to provide additional relief to help credit unions facing prompt corrective action challenges.

In May 2020, the NCUA issued an interim final rule that provided credit unions relief related to PCA by permitting the NCUA Board to issue an order to temporarily waive the earnings retention requirement for any credit union classified as adequately capitalized. The interim final rule also permitted credit unions to submit simplified net worth restoration plans if the reduction in capital was caused by share growth resulting from a temporary condition due to the pandemic. The rule, however, expired Dec. 31, 2020.

In the letter, CUNA asks that the NCUA adopt a new interim final rule, essentially identical to the 2020 interim final rule to provide relief to credit unions experiencing prompt corrective action issues related to an increase in share growth, with the relief remaining in effect until the end of the pandemic as determined by the Centers for Disease Control or other federal entity authorized to make such a determination.

The letter can be accessed on CUNA’s website.
Educational Calendar
Upcoming Conferences from your League:
Upcoming Webinars: 
March 25: Business Accounts: Who is Authorized to Open, Close, Transact?
March 29: New Anti-Money Laundering Act: Key Provisions & BSA Implications
March 30: Highlights of NCUA’s 2021 Supervisory Priorities
March 31: The Top 10 Reasons Consumers Leave Their Financial Institution
April 5: Board Governance & Credit Union Liquidity Risk Management
April 6: Remote Workforce Series: Moving to the Cloud: Remote Management of Risks to Member Data
April 7: E-SIGN Series: The E-SIGN, BSA & CIP Compliance Trifecta
April 8: Board Reporting: Requirements, Timing, Delivery Options, Risks & Concerns
April 13: Collection Series: Regulatory Alphabet for Collections Compliance
April 14: Reg CC Compliance & Review: Check Holds, Remote Deposit Capture & Reg D Changes
April 15: New Time Limits for ACH Warranty Claims Effective June 30, 2021
For a complete listing of educational opportunities available from LCUL, visit the League website.
Professional Development
A Debbie Crawford Double Feature in the Spotlight for April
The star of the Education department’s lineup for the month of April is Debbie Crawford of GetTechnical Inc. Debbie, is the league’s go-to guru for account card accuracy, deposit account laws, complex compliance issues, and the assurances you’re looking for regarding documentation questions. When you register for Debbie’s programs you will not only receive a plethora of knowledge and confidence to do your job accurately; you also leave with a secret weapon – a comprehensive manual that will serve as the best one-stop resource in your branch! Every question you might have, any sample or template you might be looking for, additional details about a particular compliance law…all of it and more is what make’s Debbie’s workshops invaluable!

Don’t miss out, click the titles below for full details on each of these virtual programs:

  • Louisiana Share Account Essentials – April 7 & 8 – Over the course of two half day morning sessions, Debbie will cover the full array of account ownership types to ensure that you create accurate authority and liability protection. Don’t let a simple error end up costing your credit union BIG! It’s been three years since we brought you this workshop so make sure that new team members, or those who could use a refresher course benefit from Debbie’s knowledge!

  • BSA Officer Training – April 20 - During this one day workshop, Debbie will cover the key elements of BSA for your officer’s required annual training. She will also include all new advisories, guidance and changes regarding BSA for 2021. In addition to your BSA Officer, this workshop is very beneficial to internal auditors, compliance staff, risk officers, security and anyone responsible for setting your credit union’s BSA policies and procedures. 
Business Development
Fundamentals of the Mortgage Process: Three Part Series
Fundamentals of the Mortgage Process, presented by CUNA Mutual Group partner, MGIC, is a three-part webinar series that will provide credit union staff a better understanding of the mortgage cycle and process.

This three part series will address the following topics:

April 6: Part 1 Understanding the Mortgage Cycle and How Mortgage Insurance Works
Learn about the mortgage cycle, key players, regulatory compliance, mortgage insurance and MI premium plan options.

April 20: Part 2 Taking the Loan Application and Processing the Loan
Learn about loan types and programs, questions to ask while completing the loan application, the importance of processing and complete documentation.

May 5: Part 3 Evaluating Credit, Capacity, Capital & Collateral
Learn about evaluating the Four Cs—credit, capacity, capital and collateral along with risk layering.

This program is free to LCUL Member Credit Unions, register here.
Have You Heard
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Quote of the Week:
“Success is the sum of small efforts repeated day in and day out."
- Robert Collier