Headline News

Last Chance: Virtual Roundtable with Focus on Reopening this Friday
On Friday, May 8, LCUL is hosting a virtual roundtable on the topic of reopening guidance. We have gathered another round of industry experts that include Ed Reisinger and Jonathan Kudulis of KRP Law Firm as well as Carlos Molina from CUNA Mutual Group to provide guidance on this topic This virtual roundtable will take place at 10:00 a.m.
 
There is no cost but registration is required. Click here to register. We will send out log in information prior to the call.
 
Have questions? Participants are encouraged to submit questions in advance by emailing [email protected] by 3:00 p.m. on Thursday, May 7.
Louisiana CU Foundation Issues More Than $22k in Special COVID-19 Grants to Small CUs, Deadline to Apply May 15
In response to the coronavirus disease (COVID-19) pandemic, the Louisiana Credit Union Foundation is implementing a new program to assist credit unions through this difficult time. In one week, the Foundation has assisted eighteen credit union and issued more than $22k in financial assistance. 

Grants up to $1,500 are available to help small credit unions (up to $25 million in assets) to offset unexpected COVID-related expenses. The focus for the grants is to help credit unions create and maintain a safe and healthy office environment.
 
Credit unions must complete a grant request form one the League website. Credit unions may be required to provide a report of how the grants were used within 8 weeks of receiving the funds. Credit unions can also visit the league's website for additional guidelines.

The deadline to apply for the special COVID-19 grant is Friday, May 15. 
 
Want to adopt a credit union?
 
Credit unions who have the means can support their own by donating $1,500 to Louisiana Foundation on behalf of a smaller credit union to help provide necessities such as adding protection to work stations, sanitizing stations, 6ft marker kit, masks, gloves and more. The funds will not only go directly to Louisiana credit unions, but it will help build up the funding should we need to activate the disaster recovery grants this upcoming hurricane season.
 
If your credit union would like to participate, please email [email protected].
House Committee to Hear Resolution to Suspend Governor's Stay at Home Order
The Louisiana House Governmental Affairs committee hears a resolution Wednesday that seeks to suspend the governor's public health emergency as it relates to the coronavirus. House Republican Caucus Chairman Blake Miguez of Erath says the objective is to put local leaders in control of reopening the economy.
 
Click here to continue reading.
April 2020 CU Trends Report Now Available
financial trends CUNA Mutual Group's Credit Union Trends Report for April 2020 is now available online and can be accessed in the Resources section of our website, under the heading Performance and Data Resources. During February, credit unions picked up 230,000 in new memberships and loan and savings balances grew at an 8.9% and 10.2% seasonally adjusted annualized pace, respectively. Firms hired 275,000 workers, nominal consumer spending rose 0.2% and long-term interest rates decreased 26 basis points. Real GDP growth is expected to decelerate to -3.8% in 2020, as the economy enters the worst recession in a generation.

For more information, view the complete report here . If you have problems accessing the information or have additional questions about the research and information services provided by the Louisiana Credit Union League, please contact Danielle Thibodeaux at (800) 452-7221, ext. 3018 or [email protected] .
Have You Heard

La Capitol FCU Sponsors Louisiana's Teachers Rock Virtual Concert
La Capitol Federal Credit Union is a sponsor of the upcoming Louisiana's Teachers Rock virtual concert. The online concert, put on by the Dream Teachers organization and Streaming4Life, is set to take place on Memorial Day weekend.

The virtual concert festival will be a unique streaming experience to raise the spirits of Louisiana residents while supporting local artists and honoring teachers. Featured performers include Bag of Donuts, Vidalia, Beaux Atkins, Sarah Russo, Jamie Bergeron and more. The event will take place on Saturday and Sunday, May 23 and 24. Once a ticket is purchased, viewers will be able to watch the virtual music festival using their smart TVs, tablets, phones, and any other streaming device, such as an Amazon Fire Stick, Apple TV, or Roku.

"La Cap has been involved with Dream Teachers for several years now," said Michael Hooper, President and CEO of La Capitol FCU. "We are exceptionally proud to show our support to Louisiana's teachers as a sponsor of this event, especially at this unique time in the history of our state and our nation."

Louisiana teachers will be honored throughout the festival in photos and videos sharing personal messages to their students. There will also be cameos from business leaders, athletes, musicians and political leaders from around the state.

Tickets are on sale now. Visit louisianateachersrock.com for ticket sales and further information.
Baton Rouge Telco FCU Donates $10,000 to Local Food Pantries
Baton Rouge Telco Federal Credit Union has announced that it will donate $10,000 to support local food banks that are facing an increased demand as a result of the COVID-19 crisis.

Telco's President and Chief Executive Officer, Darryl Long says, "We understand that our members and community may be struggling as we all deal with the effects of the COVID-19 crisis. Our Board of Directors and I felt it was important to contribute to the efforts of the Greater Baton Rouge Food Bank and the Tangi Food Pantry as they work diligently to keep their shelves stocked. As a credit union, our mission is about people helping people and that's what we want to do."

Of the credit union's $10,000 donation, $7,500 will benefit the Greater Baton Rouge Food Bank, and $2,500 will be allocated to the Tangi Food Pantry. Both organizations have expressed an increase in demand from the communities they serve.

"We are grateful to organizations like Baton Rouge Telco Federal Credit Union that are able to help us feed the increased number of food insecure in our community during this time," said Mike Manning, President and CEO of the Greater Baton Rouge Food Bank. "This donation can provide up to 22,500 meals to help us meet the increased need we are seeing now as well as those already relying on our services."
Quote of the Week:
"Courage is not the absence of fear, but rather the assessment that something else is more important than fear."
- Franklin D. Roosevelt

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 7: New Uniform Residential Loan Application Beginning January 1, 2021:
Updating Policies & Testing Readiness
May 11: Demystifying TRID for Construction Loans Using the New CFPB Guides
May 12: Leveraging BSA Controls for More Effective OFAC Compliance
May 13: Commercial Lending Series:  Analyzing Commercial Tax Returns: Forms 1065, 1120, 1120S & K-1s
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.