Keeping you connected to key credit union news, events, and trends: November 7, 2018
In This Issue
Headline News

Credit Union-Friendly Majority Elected to Serve in 116th Congress
A stronger than expected voter turnout led to a fascinating midterm election yesterday, resulting in a credit union-friendly majority being elected to the 116th Congress. CUNA, leagues, credit unions and members were heavily involved in the election, including support for 388 candidates for the House and Senate.
 
In Louisiana, all credit union-friendly candidates won their respected elections. Below are the results:
 
District 1:          
72% Steve Scalise* (R)
16% Tammy Savoie (D)

District 2:          
81% Cedric Richmond* (D)
9%   Jesse Schmidt (I)

District 3:              
56% Clay Higgins* (R)
18% Mimi Methvin (D)

District 4:             
64% Mike Johnson* (R)
34% Ryan Trundle (D)

District 5:             
67% Ralph Abraham* (R)
30% Jesse Fleenor (D)

District 6:             
70% Garret Graves* (R)
21% Justin Dewitt (D)
 
Although all of the candidates endorsed by the LCUL won their respective elections, our work is only beginning. A new season of advocacy begins now to educate our lawmakers on critical credit union issues.  These include, but are not limited to, maintaining the tax-exempt status, clarity on ADA website compliance, the need for stronger merchant data breach requirements, credit union exemption from rulemaking authority under the Bureau of Consumer Financial Protection, and regulatory relief.
LCUL's Enhances CU Financial Counseling Program by Increasing Student Engagement: Become Certified in 2019!
LCUL is excited to bring back the wildly popular Certified Financial Counselor Program (FiCEP) for the 7th year in a row!  The popularity of this program is due to high member demand from you.  Over the past six years, Louisiana has certified over 350 credit union professionals who have made it a top priority to financially educate their members.

Not only are we bringing the program back, but we made it even better. LCUL's very own Susie Fair, Senior VP of Credit Union Support, will serve as the instructor, bringing her passion for financial education initiatives and her creativity for improved student engagement.
 
FiCEP is the tool in your arsenal that no credit union should be without.  When you transform your staff into certified financial counselors you are helping to guide your members to better financial future.  Members in control of their finances become more engaged.
 
When asked why it is so important for her to certify members of her staff, Glenda Rushe, CEO of St. Tammany FCU summed it up perfectly:  "It is very important for us to find ways to say YES to our members. Being a Certified Financial Counselor provides another opportunity to say YES."
 
Ready to learn more how you can start saying YES to your members?
NCUA Awards $2M in Grants; 17 Louisiana CUs Recipients
The NCUA awarded $2 million in grants to 203 low-income credit unions, funding from the agency's Community Development Revolving Loan Fund (CDRLF).  

"These are investments in fundamentals: protecting credit unions and their members, expanding access to affordable financial services, and building human capital," NCUA Board Chairman J. Mark McWatters said. "In particular, helping credit unions detect and defend against cyberattacks is essential to keeping members safe and the financial system secure."

Grant awards ranging from $1,300 to $20,000 were made to credit unions in 42 states and the District of Columbia.  The NCUA made awards in three categories: d igital services and security (141 grants totaling $1,251,670), l eadership development (40 grants totaling $350,760) and u nderserved outreach (22 grants totaling $397,570).
 
CDRLF grant funding is administered by NCUA's Office of Credit Union Resources and Expansion. Below is a listing of Louisiana credit unions who received grants this round:
 
Digital Services & Security Grants
  • Access of Louisiana ($10,000)
  • Bayou ($7,500)
  • Carter ($10,000)
  • Coast Guard Employees ($10,000)
  • CSE ($10,000)
  • District 08 ($10,000)
  • Iberville ($7,700)
  • Internal Revenue ($3,500)
  • Sabine School Employees ($3,000)
  • T E A ($4,000)
  • Valex ($10,000)
  • W B R T ($10,000)
Leadership Development Grants
  • CUSA ($10,000)
  • Eagle Louisiana ($1,900)
  • Jefferson Parish Employees ($10,000)
Underserved Outreach Grants
  • Neighbors ($20,000)
  • UNO ($20,000)
Pelican Politics

Reminder: LCUL Hosting Special Roundtable with LOFI Officials, Louisiana CUs
To ensure our credit unions are represented and protected at all levels, LCUL encourages state charted credit unions to attend a special roundtable discussion with Louisiana Office of Financial Institutions (LOFI) Officials on November 16 from 10:00 - 2:00 at Sno's Seafood (13131 Airline Hwy, Gonzales).
 
The League arranged this meeting so that Louisiana credit unions have the opportunity to discuss the financial landscape in Louisiana, share their experiences, and express their thoughts/concerns . Please be sure to RSVP to Angela Gervais no later than November 12. 
News from CUNA Mutual

October 2018 Credit Union Trends Report Now Available
graph CUNA Mutual Group's Credit Union Trends Report for October 2018 is now available online and can be accessed in the CU Products & Services section of our website, under the heading Performance and Data Resources.

During August, credit unions picked up 706,000 in new memberships, loan balances grew at a 9.8% seasonally adjusted annualized pace, savings balances rose at a 7.8% annualized rate, firms hired 209,000 workers, nominal consumer spending rose 0.3% and longterm interest rates were unchanged.
 
Additional highlights of this month's report include:
  • At the end of August, CUNA's monthly estimates reported 5,686 credit unions in operation, down 11 credit unions from one month earlier. Year-over-year, the number of credit unions declined by 208, more than the 207 lost in the 12 months ending in August 2017.
  • Total credit union assets rose 1.3% in August due to a 1.4% increase in savings, a 0.8% increase in capital and a 1% decrease in borrowings. Assets rose 6.6% during the past year due to a 6.6% increase in deposits and a 6.5% increase in capital; borrowing also rose 9%.
  • The nation's credit unions increased their loan portfolios by 1% in August, above the 0.9% pace reported in August 2017. Loan balances rose 9.7% during the last 12 months. August is historically the second fastest loan growth month due to seasonal factors, such as car purchases and vacation spending.
  • Credit union memberships rose a robust 0.6% in August, up from the 0.43% gain reported in August 2017. This is the fastest growth rate since May 2003, during the last credit boom. Memberships are up 4.5% during the past year due to robust demand for credit, solid job growth and comparatively lower fees and loan rates.
  • Credit union capital-to-asset ratios were 10.7% in August, the same as reported one year ago. Credit union loan delinquency rates fell to 0.66% in August, down from 0.77% one year earlier due to a stronger economy and double-digit loan growth. Expect both credit unions and banks to loosen credit standards in 2019 as job growth continues and wages rise.
 
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 Jason Swint at (800) 452-7221, ext. 3020 or [email protected].
Have you Heard?

Neighbors FCU Sponsoring "Pat's Coats for Kids" for the 10th Year
Neighbors FCU has partnered with Pat Shingleton and WBRZ for the 10th consecutive year as a sponsor for "Pat's Coat for Kids." The 2018 campaign launched October 22 and will continue through November 21. During that time, the public is welcome to visit any Neighbors FCU location to make a donation or drop off a coat.

Additionally, Neighbors will host a jambalaya sale sponsored by Coldwell Banker One Thursday, November 15 at their Perkins Branch. All proceeds will go to Pat's Coats for Kids.

Neighbors will also participate in the campaign's "Pack the Pod Day," November 14 and "Distribution Day" at WBRZ's station, December 14.
In 2017, this event collected a record-setting $100,251 for children in need.

"Neighbors is proud to be part of this annual campaign which highlights the generous spirit of our community." Neighbors President and CEO Steve Webb said.
La Capitol FCU Announces Addition of Jaqueline Wilfong, V.P. of Sales
La Capitol FCU announces the addition of new Vice President of Sales, Jaqueline Wilfong. With 20 years experience, Wilfong brings valuable experience and leadership to the sales team.
 
Wilfong comes to La Cap from Enterprise Holdings, where she spent 18 years in the car sales division. During that time, she worked with credit unions to train employees on best practices for car loans.  Wilfong also is an executive director on The John Maxwell Team. In that capacity, she is certified to facilitate, speak, train and coach individuals and groups in the areas of leadership development, professional skills and personal growth. 
Quote of the Week:
"Competition makes us faster, collaboration makes us better."
- Fyrefly

Educational Calendar
Upcoming Conferences & Seminars from your League:

November 13: IRA Update

Upcoming Teleconferences & Webinars from your League:

November 8: Lending to Churches & Other Nonprofit Organizations
November 13: Mortgage Lender Training Part 3
November 14: Robbery Preparedness: Requirements & Proven Strategies
November 15: Member Business Lending: Risks, Rewards, Controls & Common Mistakes
November 27: Your Borrower Has Died: Actions to Take, Mistakes to Avoid
November 28: Top 10 IRA Rollover Mistakes
November 29: Managing & Mitigating Card-Not-Present Fraud

For a complete listing of educational opportunities available from LCUL, visit the League website.
Copyright © 2018 Louisiana Credit Union League 
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(800) 452-7221   www.lcul.com