SCUNet News...participate, collaborate

November 2012

Select Credit Union Council

Small credit unions are renowned for banding together to help one another. CUNA Mutual Group tapped into that strength by convening a council of 10 leaders of small and mid-sized credit unions across the country to share ideas and solutions. As part of the council’s meeting in October at the CUNA Mutual Group campus, the council conversed with CEO Jeff Post and other company leaders.

"CUNA Mutual Group fully understands the challenges credit unions are faced with today generating income. The products and services they are introducing and enhancing to increase insurance premiums will also help credit unions add more loans to their portfolios, thus adding income to their bottom line and improve the efficiencies of member services" said Stephen Brindamour, CEO of Susquehanna Valley Federal Credit Union in Pennsylvania.

Senior Sales VP Mike Defnet joined Post regarding the importance of small credit unions. Additional topics included: economic trends impacting loan performance and consumer lending; the new TruStage™ direct to consumer brand that provides credit unions a means to help members anytime, anywhere from any device; and an update from Dave Colby, Chief Economist regarding the slow economic recovery.

If you have any questions or would like to learn more about the Select Credit Union Council and/or sessions, please contact Stephen at sbrindamour@svfcu.org or call (717) 737-4152, extension 126.


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Collaboration Corner

The Erie Area Credit Union Partnership (TEACUP) continues to demonstrate the benefits of collaboration. The group shared the cost of a full-color ad in the Erie Times newspaper to celebrate Credit Union Day and to share the uniqueness of credit unions with the Erie community.

The ad can be seen here. Go to www.myeriecu.com to learn more about the efforts of TEACUP.


CU PolicyPro: September OPS Notes

The OPS Notes newsletter for October is now available in the online library. This month’s topic is “Regulation D – Monetary Reserve and Reporting Requirements.”

Note: The FRB updates the provisions of Regulation D on a yearly basis. Policy 9420 (Monetary Control Act - Regulation D) will be amended to reflect these updates in the January 2013 update.

The recent update to your CU PolicyPro manual includes a new policy: #7260 – Multi-Featured Lending Programs is in response to the NCUA guidance. This policy contains five user defined “Key Fields.”

If you require assistance in entering the key fields, please contact us at policypro@pcua.org or by phone at 800-932-0661, option 3. (This policy is recommended if you offer this loan product)

Compliance Q&A

Q: A spouse of one of our members informed us that her husband is unable to sign documents or do any transactions on his own behalf. He has an individual account.  She would like to perform several transactions for him.  Since she is his wife, can we allow her to act on his behalf?

A: The member’s wife is able to make deposits, however, she does not have the authority to act on his behalf unless she has been issued a Power of Attorney or a court ordered document giving her the authority to act as his custodian.  A court would have to determine that he is unable to act on his own behalf, and they would give the authority to someone to act on his behalf.

APPLY FOR YOUR 2013 JUDGE/BRADLEY LEADERSHIP SCHOOL SCHOLARSHIP

Did you know the Judge/Bradley Leadership School has been creating credit union leaders since 1955?

We know training budgets are tight and next year will be no different! To ensure your 2013 calendar includes the Judge/Bradley Leadership School, emerging leaders can apply for a scholarship to cover tuition and some associated costs.

Applications are due December 31, 2012.

Download application.

How to Successfully Obtain an NCUA Grant

NCUA’s Office of Small Credit Union Initiatives hosted a free grant writing webinar last month that is worth repeating.  The goal is to assist credit unions that propose to apply for grants during 2013.  The event was conducted by OSCUI’s grants and loan staff. 

Take time to review the webinar and learn the “tricks of the trade."  Don’t be left out of next year’s funding.

Launch presentation.

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FREE WEBINAR
Thursday
2:00 p.m.

Lending & Collections Best Practices

How can you achieve loan growth and the greatest return from your lending portfolio? Combining proactive and efficient practices in your lending and collections programs can really pay-off in a growing and profitable loan portfolio that still mitigates risk.

REGISTER HERE.

Discussion items include:

Lending

  • Prospecting & marketing
  • Assessing & mitigating risk
  • Improving processing efficiency with technology

Collections

  • Scheduling & tracking the collections process
  • Compliant collection policies
  • Bankruptcy management
  • Selecting internal vs. external collections activity

Pennsylvania Credit Union Association