Keeping you connected to key credit union news, events, and trends: May 13, 2020
In This Issue
Headline News

Credit Unions Re-opening: Valuable Resources from LCUL's Virtual Rountable Now Available
As credit unions begin to shift their planning to re-opening, LCUL wanted to remind you of the updated resources now available on our website.

Last Friday, we hosted virtual rountable focused on re-opening with a wealth of valuable information shared from industry experts. We've uploaded the the video archive, notes from the call, and KRP's PowerPoint presentation for you to refer to. This information, which includes security, employee policies and more, is extremely beneficial for credit unions of all sizes.

On the League's COVID resource page, you will also find a section for re-opening resources that include best practices, sample messaging to staff/members, and more.
LCUL Joins Fellow State Leagues to Support Credit Unions During Pandemic
Credit unions have been supported during the pandemic by both collective and individual work of state leagues and associations across the country, American Association of Credit Union Leagues (AACUL) Executive Director Brad Miller wrote.

In a story he wrote for CUInsight, Miller comments, "This type of powerful action by leagues is happening nationwide and exemplifies the cooperative nature of our industry. It's what we do together that sets us apart and I'm extremely proud to say the leadership and work of credit union leagues across the country have shown we are truly stronger together, particularly when members need us most."

Miller highlighted a wide range of AACUL and League efforts during the pandemic, including:
  • Launch of COVID-19 resource centers
  • League presidents and other leaders appearing on local television, radio, or newspapers talking about the work credit unions are doing in response to the pandemic
  • Organizing virtual roundtables to share best practices, experiences, and other information
  • State credit union foundations working to support their communities
  • Coordinating calls and webinars with local, state and federal regulators, agencies, and lawmakers
  • Working with regulators and other officials to receive guidance, clarification, and authorization related to the Paycheck Protection Program
House Introduces HEROES Act; Next COVID Relief Package
House Democrats have introduced a massive $3 trillion piece of stimulus legislation, the HEROES Act, that includes $1 billion for the CDFI fund, additional direct payments to Americans of up to $6,000 per household, and broad mortgage forbearance requirements.

The House is to vote on the bill, which would be the largest piece of stimulus legislation in U.S. history, on Friday. 

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Business Solutions

Catalyst Corporate: Caution Advised as Credit Unions Consider Mortgage Spreads
Housing demand in the United States has fallen during the COVID-19 pandemic-with some, including Fannie Mae, suggesting 2020 sales falling 15 percent or more compared to last year. 

But while it is down, the housing market is not out. Millions of homes will still be sold this year. And, in fact, there may be reason to increase credit union engagement in the real estate market - or at least to refinance existing loans, says Mark DeBree, Managing Principal at Catalyst Strategic Solutions.

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Have You Heard

Pelican State CU Makes Special Deliveries in Appreciation of its Healthcare Partners
Pelican's Business Development team has been making deliveries to its healthcare partners to show appreciation of their hard work and heroic efforts during the COVID-19 pandemic.
 
Deliveries that have been made so far include sandwich and cookie trays to Longleaf Hospital and The Arc Rapides in Alexandria, a cookie basket to Ochsner E.A. Conway Hospital in Monroe, and a sandwich platter to the Lafayette General Medical Center.
Quote of the Week:
"Wonder is the heaviest element on the periodic table. Even a tiny fleck of it stops time."
- Diane Ackerman

Educational Calendar

Upcoming Conferences & Seminars from your League:

All in-person events have been postponed until July 1.

Upcoming Teleconferences & Webinars from your League:
 
May 14: Visa Claims Resolution for Chargebacks
May 15: Alert! Impact of Reg D Changes
May 19: Updating Your CDD Program: Beneficial Ownership, Triggering Events & New SSN Verification
May 20: Credit Reporting & Delinquent Accounts: Disputes, Revisions & Guidance
May 21: Call Report Advanced Lending Schedules
May 27: Branch Manager Guide to Success
May 28: Growth & Transformation Series: Driving Engagement with Facebook, Twitter & Instagram

For a complete listing of educational opportunities available from LCUL, visit the League website.
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(800) 452-7221   www.lcul.com