SCUNet News...participate, collaborate

February 2013

CUAnalyzer is FREE!

If you haven't yet taken a look at what CUAnalyzer has to offer you, why wait any longer?

CUAnalyzer is a FREE service offered to your credit union through Association membership.

What makes this program different? Perhaps it's the ease of navigating the system and the educational approach to performance analytics that makes CUAnalyzer so useful. Discover how unlimited access to CUAnalyzer can help you chart your credit union’s progress!

Log in and you will find everything from customizable peer groups to benchmark your credit union strategies, to professional packets that can drive departmental discussions and aid in developing board reports.

It couldn't get any easier to ANALYZE, EDUCATE, ACT!

CUAnalyzer has standard bi-weekly trainings available, or request personalized training for your credit union. Contact your Association Account Executive with any questions.

$9.5 Million Available for Low-Income Credit Union Loans

NCUA has $9.5 million in loans available to low income designated credit unions from the Community Development Revolving Loan Fund (CDRLF), through NCUA’s Office of Small Credit Union Initiatives (OSCUI).

The Revolving Loan Fund assists low-income credit unions in providing financial services to their low-income members to stimulate economic activities in their communities. Generally, NCUA makes five-year loans up to $300,000, but the loan may exceed this amount on a case-by-case basis.

For 2013, NCUA has maintained a record-low, loan interest rate of 0.4% for the second year in a row. Eligible credit unions have used loans under this program for several purposes, including:

  • Funding loan demand
  • Providing liquidity for expansion
  • Increasing net income through earnings on the loan funds

To obtain a loan, a federally-insured credit union must have the low-income designation. Loans will be made on a rolling basis. An online loan application and other information can be found here.

Did you know?

  1. A low income credit union can accept non-member deposits from any source, secondary capital accounts and the ability to receive assistance from other sources, such as private benefactors and foundations.
  2. Low-income credit unions are also exempt from the 12.25% member business loan statutory cap.
  3. NCUA periodically notifies credit unions of their eligibility to accept low-income designation status.

Click here for more information on NCUA’s low income designation qualifications.

CU PolicyPro Update Now Available

You can now log onto CU Policy Pro and find 2 new policies—Policy 1530 on Social Media and Policy 6115 on Concentration Risk. In addition to these 2 new policies, the update includes revisions to 23 other policies.

And don’t forget, when you’re logged on to CU PolicyPro, check out the “Alphabetical Policy Listing” file for a view of all the policies available. Click here for a complete listing of the CUPolicy Pro Update.

If you have any question about CU PolicyPro, just contact the Association’s compliance department at 800-932-0661, Option #3.

OSCUI Online Help

Q: Does NCUA offer any online assistance to help credit unions navigate available through the Office of Small Credit Union Initiatives?

A: NCUA offers free videos and webinars through its Office of Small Credit Union Initiatives. For example, you can watch videos about direct assistance available from the agency’s Economic Development Specialists (EDS) as well a video about how to obtain a Technical Assistance Grant (TAG).

Also, the agency offers pre-recorded webinars on topics such as: credit union mergers; how to obtain a grant; and the benefits of having a low income designation.

CUNA Mutual Group Update

The Credit Union Connection to Long-Term Care Insurance

Long-term medical conditions that require daily assistance are major destroyers of wealth, so it seems natural for credit unions to help inform members about options for long-term care (LTC) insurance. It’s a common misconception that Medicare will pay for LTC services. That could be a catastrophic mistake.

Help connect members to LTC insurance solutions that can provide better care options while protecting a family’s long-term financial well-being. [Full Article]

Credit Union Marketing Services offered through the Association. Take a look!

CEO Leadership Workshop

March 20, Pittsburgh
March 21, Harrisburg

One of the key ingredients to running a successful credit union is the relationship between volunteers and management. With the ever-evolving complexity of running today’s credit union, open and honest communication between both parties is a necessity.

At the CEO Leadership Workshop, we uncover the dynamics that could possibly drive these two equally important teams apart, the dangers involved and what you can do to keep it from happening.

Click here for all the details and to register today!


CUNA CPDOnline Discount

Who? All staff and volunteers of small credit unions.
What? Discounted CPDOnline Membership.
When? One year.
Why? Learn, measure, and grow your skills in lending, member service, compliance, and more.
How? Simply fill out the online membership form and you will gain access to more than 300 online courses and exams.

This discount is available to affiliated credit unions under $20 million in assets toward a CPDOnline membership. Credit unions above $20 million in assets can also receive discounted pricing based on asset size, FTE count, and chosen membership options. See more.

Pennsylvania Credit Union Association/Pacul Services, Inc.