SCUNet News...participate, collaborate

June 2013

NCUA Makes $1.2 Million in Grants Available

NCUA recently announced their 2013 Round of Grant Initiatives available to low income designated credit unions and will begin accepting applications online on June 17, 2013. The application window will remain open until July 12, 2013. Awarded credit unions will be notified on August 29.


Collaboration: is awarded for long-term cost saving projects or partnerships; maximum amount of the grant is $24,000.

Computer Modernization: allocated to purchasing hardware and software to help convert from a manual to computerized operation; maximum amount of the grant is $3,000.

Financial Capability: is designed to help credit unions improve financial skills awareness in their communities through financial literacy and planning initiatives; the maximum amount of the grant is $10,000.

New Retail Location for Home-based Credit Unions: helps home-based credit unions move into retail/commercial space. This grant supports acquisition, renovation, equipment and moving costs; maximum amount is $10,000.

New Product/Service Development: helps credit unions better serve their members and community; maximum amount of the grant is $15,000.

Staff/Volunteer Training: helps offset the cost of training related to improving operations; maximum amount of the grant is $3,000.

Click here for additional details; or apply online by clicking here.

The NCUA presentation outlining the application process and providing examples of projects under each categories is available on the Association website. You can also call the Association’s Compliance department for more information at 800-932-0661, Option #3.

NCUA Workshop in Western PA?

Q: Back in April the NCUA held a small credit union workshop in the Philadelphia area. Does the agency have anything scheduled for the western part of Pennsylvania?

A: Yes. NCUA has a workshop scheduled for July 25 in Pittsburgh. As was the case with past workshops, the 1-day event starts with a continental breakfast followed by program content covering compliance, collaboration, leadership development and emerging issues facing credit unions.

The workshop is free and space is limited, so register early. To register, simply click on this link

CU PolicyPro: Policy 9220
Home Ownership & Equity Protection Act (HOEPA)

The Home Ownership and Equity Protection Act of 1994 (HOEPA) was enacted as an amendment to the Truth in Lending Act (TILA) in response to evidence of abusive lending practices in the home-equity lending market. HOEPA imposes additional disclosure requirements and substantive limitations on home-equity loans bearing rates or fees above a certain percentage or amount and prohibits specific acts and practices. HOEPA also amended TILA to require additional disclosures for reverse mortgages. The requirements and limitations of HOEPA are in addition to and not in place of those contained in TILA or Regulation Z.

The CFPB issued a new rule related to escrow accounts in January 2013, with an effective date of June 1, 2013, requiring creditors to establish an escrow account for a period of 5 years on high priced mortgage loans (HPML). A HPML is a loan secured by a member’s principal dwelling with an APR that is more than the average prime offer rate (APOR) plus 1.5% on first lien loans or APOR plus 3.5% on subordinate liens.

The CFPB escrow rule also provides an exception that many small credit unions operating predominately in rural or underserved areas may qualify for. To be eligible for the exemption, a credit union must make more than half of its first lien mortgages in rural or underserved areas; have an asset size less than $2 billion; together with its affiliates, have originated 500 or fewer first lien mortgages during the preceding calendar year; and together with its affiliates, not escrow for any mortgage it or its affiliates currently services, except in limited instances.

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

Streamline Your Workplace with OfficeMax

While credit unions of all sizes benefit from using the OfficeMax program offered through CUNA Strategic Services, small credit unions may have the most to gain from this national relationship.

Your credit union can take advantage of national price discounts negotiated on behalf of all credit unions, including simple online ordering with free next-day delivery to almost all locations, with no minimum order requirement.

OfficeMax is best known for office supplies, but look to OfficeMax for much more than pens and paper, including; a comprehensive furniture selection and planning and design services; print and document services; facility resources ranging from the janitor closet to the coffee area to the main lobby; technology solutions to keep you on the cutting edge.

Getting started is easy! Call OfficeMax at 800-881-8980 and mention the CUNA program. Place your first order, request a log-in for online ordering access, or request a full catalog.

Or register online, and an OfficeMax representative will contact you to set up your credit union's account. For more information, contact your Association Account Executive.

It’s Spring:
Do you know where
your flood zones are?

All lenders have to determine whether a property is in a flood zone before approving a mortgage. That lender also has to make sure that properties in flood zones are covered by insurance. Only it’s a bit trickier than making sure a consumer auto loan is covered with a collision or liability policy. That’s because flood zones can change. [Full Article]

Marketing Tips

More than 700 listened in...

The National Credit Union Administration’s Office of Small Credit Union Initiatives webinar, “Driving the Bottom Line: Results through Marketing,” is now available online.

PCUA Director of Credit Union Marketing Services, Sandi Carangi, and Gustavo Grüber, Vice President of Coopera Consulting Inc., discussed marketing strategies to help credit unions improve outreach to current and potential members:

  • Developing core components of an effective marketing plan;

• Analyzing consumer data and developing market research to help credit unions identify potential members; and

• Marketing strategies to reach the Hispanic population.

More than 700 participants joined the 90-minute webinar. A link to an archived audio recording and written transcript of the webinar are now publicly available online here.

Sandi Carangi, Director, Credit Union Marketing Services can be reached at 717.215.6951 or by email at

FED Webinars Announces: Quiz, Answer Key & Training Log for All Webinars!
(from the Credit Union Network)

Beginning in July 2013, quizzes, answer keys, and training logs will be provided with all Credit Union Webinar Network webinars! These value-added features will be available for both live and archive webinar options.

Examiners often stress “proof of learning” as it relates to training. These tools will not only benefit your staff, but will also allow you to provide documentation to your regulators.

These great new features are added at no additional cost! Watch your email for upcoming webinars that include these new take-away tools.

To view a list of upcoming webinars through the Credit Union Network, click here.

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Pennsylvania Credit Union Association/Pacul Services, Inc.