Director Nomination Received For District 8
Diana Roberts has submitted a nomination form for the Association’s District Director Election. Roberts is a past chair and incumbent for the District 8 Director seat.
Nominations are open for Association Board seats in Districts 3, 7, and 8, and must be received no later than February 1.
CEO Summit Inspires Service Excellence
The 2010 CEO Summit closed yesterday, following a second session on leadership and service excellence, lead by Jeff Hargett, Corporate Director of Learning and Content Delivery for the Ritz-Carlton Leadership Center. Hargett made the connection between how leadership drives excellence in quality service.
Each participant received a copy of the book, The New Gold Standard – Five Leadership Principles for Creating a Legendary Customer Experience, by Joseph A. Machelli, compliments of CO-OP Financial Services.
In closing, Jim McCormack, Association President/CEO, thanked participants and speakers for a successful conference, and announced that the 2011 CEO Summit will be held in Key West.
Credit Unions Hold Training On Federal Holiday
The Association’s Compliance staff presented two BSA training sessions on Monday, January 18.
Angelique Pattillo, Compliance & Operations Officer, conducted a training session and reviewed current BSA risk trends for nine staff and board members of Crayola LLC Employees Credit Union in Easton, including CEO Christine Kosman. The training also included a review of CTR and SAR compliance responsibilities, as well as a discussion of the importance of internal controls and procedures for monitoring account activity and the responsibilities of management and the board.
Eric Chase, CEO, Guthrie FCU in Sayre, hosted BSA training on Monday for his staff and volunteers, along with staff and volunteers from Craftmaster FCU and Towanda School Employees FCU. Association VP of Credit Union Services John Kilduff facilitated the training for more than 30 staff and 20 volunteers.
Each participant was given a 20-question BSA quiz and will receive a BSA training certificate, helping the credit unions to comply with BSA training record keeping requirements.
For information about Association compliance training programs, contact the Compliance Department at 800-932-0661, Option #3.
Getting Paid For Product Differentiation?
Did you know that just by enrolling in the Sprint Credit Union Member Discount program and providing free marketing materials to your members, you could earn an incentive?
Last year’s incentives from Sprint averaged just over $1,000 per participating credit union. Nancy Urban, HealthCare First Credit Union, Johnstown, believes the Sprint program “…is a great opportunity for members to get a break on their cell phone services. Anything we can offer that the banks don’t offer is a win, and it’s very easy to comply.”
Unaware of what Sprint has to offer? This program benefits new, and existing, Sprint users – offering up to 15% off most regularly priced service plans, waived activation and upgrade fees. Credit unions participating in the Sprint program receive free marketing materials and, incentives are based off of your membership base, not member participation – earning incentives couldn’t get any easier!
“We strive to provide value-added benefits to our members; benefits other than those normally expected. Our partnership with Sprint allows us to provide the members with such a benefit in a two-fold fashion: First in the benefits derived from the cell phone service; and secondly, in the revenue sharing we garner from our partnership. It’s hard to differentiate ourselves from our competition. The Sprint program has allowed us to both benefit our membership and to differentiate ourselves without a large expenditure of time, energy, or resources.” Joe Marzullo, CEO of Washington Area Teachers FCU
To learn more about the Sprint program, sit in on one of the monthly webinars hosted by CUCorp, or contact your PCUA Account Executive.
Get Well Wishes
The Teller, who was injured during a robbery at Westmoreland Community FCU on January 8, has been released from ICU, but will remain in the hospital for at least one more week undergoing therapy.
Donations are still being accepted for The Teller Fund, c/o Westmoreland Community FCU, 1007 Georges Station Road, Greensburg, PA 15601-6982. Questions may be directed to Linda Hearn, Controller, 724-834-5580, ext. 116. Donations will help the family with expenses while she continues to recuperate.
Our thoughts and prayers are with her for her continued recovery.
Did You Give Back To Members?
Did your credit union provide year-end rebates or dividend reimbursements to members? Did you implement new member services for the new year?
Please send details to highway@pcua.coop.
PA Delegation Fundraising Efforts
The Federal Election Commission (FEC) recently released a cumulative fundraising report of all Pennsylvania congressional candidates’ 2008 General Election fundraising efforts.
Pennsylvania candidates raised more than $51 million dollars during the last election cycle, elevating them to the national stage. As the 2010 Congressional races heat up, these statistics reinforce why it is so import to help our friends who are running for federal office.
Below is a synopsis of our members’ fundraising statistics:
As a collected group:
Receipts: $51,427,460
Contributions from Individuals: $29,486,243
Contributions from PACs: $17,235,490
Disbursements: $48,621,240
Cash on Hand: $7,663,761
Individually:
- Congressman Patrick Murphy (D-8) raised the most over all: $3,964,703
- William Russell (Republican challenger in the 12th congressional district) raised the most from individuals: $3,591,001 (ran against Democrat Congressman John Murtha)
- Phil English (former Republican Congressman of the 3rd congressional district) raised the most from PACs: $1,717,064 (lost his re-election bid to current Democrat Congresswoman Kathy Dahlkemper)
- Congressman Patrick Murphy (D-8) spent the most: $3,917,416
- Congressman Joe Sestak (D-7) had the most cash on hand: $2,937,140
Fed To Examine Nation’s Check & Electronic Payments Usage
The Federal Reserve Banks announced plans to conduct another series of studies to determine the current volume and composition of check and electronic payments in the United States. These studies will build on information gained from similar studies conducted by the Reserve Banks in 2001, 2004, and 2007.
The 2010 Federal Reserve Payments Study consists of three research efforts commissioned to estimate the annual number, dollar value, and composition of retail noncash payments in the United States. Together, the studies will provide aggregate estimates and current trends in the use of noncash payment instruments by U.S. consumers and businesses.
Previous studies have revealed significant changes in the U.S. payments system over time, including a continuing decline in the use of checks and growing use of electronic payments, such as automated clearinghouse, electronic banking transactions, credit cards, debit cards, and stored value cards.
Participation of financial institutions and other providers of payment services will be important in conducting the studies. Preliminary results should be released by late 2010.
Chapter News
Chapter News
Reminder: Pittsburgh Chapter To Hold Special Program On Robbery
The Pittsburgh Chapter of Credit Unions and the FBI will hold a special meeting on How to Protect Your Staff and Members – What To Do During and After A Robbery.
The meeting will be held Wednesday, January 27, at the Ramada Inn & Conference Center – Greentree (formerly Holiday Inn). Registration begins at 5:00 p.m.; dinner at 5:30 p.m., followed by program.
This is a “must attend” meeting for board and staff. Credit unions in other chapters are invited to attend, as well.
Reservations can be made by contacting Ron Lasich, 412-221-6655; e-mail: rootdx@aol.com; or mail to Ron Lasich, c/o Visionary FCU, 201 Beram Ave., Bridgeville, PA 15017. Deadline for reservations is Monday, January 25.
Newsmakers
Newsmakers
Emmor Boslet, CFP, Belco Community Credit Union, is one of 20 credit union financial advisors recently honored by CUNA Brokerage Services, Inc., with Women of Distinction awards. The award is in recognition of superior performance, value to their programs, exceptional client service, and overall contribution to the financial services industry and CUNA Brokerage Services. As recipients of this award, the women will participate in a mentoring program offered through CUNA Brokerage Services designed to foster the growth of women who are new to the financial services industry. The winners not only exemplified the characteristics of the award, but earned $250,000 or more in gross dealer concessions in 2009.
Hershey FCU recently presented a check in the amount of $5,531.92 to Amy Leonard, Development Coordinator, for the Ronald McDonald House Charities of Central Pennsylvania (RMHC). A majority of the donated funds went directly to the “Room To Grow” Capital Campaign, helping offset costs for the current expansion project that will allow RMHC to house at least 750 additional families each year. The donation was a result of several special fundraising events held during 2009 as part of the “HFCU Cares” program and supported by employees.
Viriva Community Credit Union has announced its Scholarship Contest that offers a total of $4,000 to students seeking higher education for the upcoming 2010-2011 fall semester school year. Winners will be required to attend an awards ceremony during the credit union’s 74th Annual Meeting, to be held on Wednesday, April 28. Scholarship Contest requirements and applications are posted on its Web site, www.viriva.com.
National News
National News
Aftershock adds to Haiti's woes, CUs donate more
MADISON, Wis., and WASHINGTON (1/21/10)--An aftershock that measured 6.1 magnitude rattled Haiti Wednesday morning, adding to the challenges of getting relief to more than three million people, including members of the country's 175 credit unions affected by the Jan. 12 earthquake.
Credit unions around the world and their affiliated organizations and service providers have rallied to contribute to the Worldwide Foundation for Credit Unions' credit union disaster relief fund to assist the 404,090 credit union members in Haiti. In the U.S., the contributions are funneled through the National Credit Union Foundation's (NCUF) CUAid disaster fund via CUAid.coop.
Combined contributions from the movement continued to climb Wednesday to $287,121, said Valerie Breunig, executive director of the Worldwide Foundation for Credit Unions, the charitable arm of the World Council of Credit Unions (WOCCU).
Of that amount, $161,031 was collected through CUAid.coop, said Jill Stevenson of NCUF's marketing and communications department.
Of the funds collected, 100% will go to credit unions and their employees, volunteers and members affected by the disaster. Contributions through CUAid.coop are tax-deductible.
Breunig noted Wednesday she saw contributions from several credit unions and vendors such as Callahan's. National leagues from Canada, Australia and the Caribbean are coordinating fundraising campaigns in their countries as well.
WOCCU did not provide a live dispatch Wednesday from its 16-person staff based in Haiti for its three-year project that began last July. WOCCU had received daily dispatches from the team leader. Communications are sporadic, and WOCCU's disaster relief team had arrived Tuesday with supplies to disburse.
The statistics in Haiti are staggering. Three million Haitians--one-third of the country's population--were still needing food, water, shelter and medical assistance a week after the earthquake. At least 72,000 people were confirmed dead, and the toll was climbing.
"This devastating earthquake has left the people of Haiti in dire need," said Rudy Hanley, president/CEO of SchoolsFirst FCU, Santa Ana, Calif., on announcing that the credit union had made a $25,000 donation to assist with relief efforts via NCUF's CUAid fund.
Charlotte Metro FCU is donating $10,000 because, said President/CEO Bob Bruns, "The credit union philosophy is based on people helping people. And this is a time when the people of Charlotte Metro have an opportunity to reach out to the people affected by this terrible disaster."
The League of Southeastern Credit Unions' Foundation, which serves Florida and Alabama credit unions, donated $10,000 toward the recovery, saying there are 350,000 Haitians living in the Southeast U.S. The need for credit unions and their members to take the lead in helping Haiti through this tragedy is imperative, said the league. "The pictures and stories coming out of the country are heartbreaking. These donations are small steps in helping the country recover and keep the flow of supplies strong," said LSCU President/CEO Patrick LaPine.
Pennsylvania Credit Union Association and its service subsidiary, Pacul Services Inc., and the Pennsylvania Credit Union Foundation (PCUF) announced they had contributed a combined $4,000 (Life is a Highway Jan. 20).
Joe Wambach, executive director of the PCUF, remained in close contact with WOCCU officials during the weekend. Wambach has experience working with Care International in Haiti for several years in the past. He helped provide guidance about distributing funds related to WOCCU's three-step recovery program.
No stranger to adversity caused by nature, the Louisiana Credit Union League encouraged its member credit unions to "answer this international call of action" in its newsletter (eNews Jan. 20).
"As evidenced during Hurricanes Katrina and Rita in 2005, this type of immediate, timely, and generous response is a natural effect of the credit union philosophy," said the league. "Credit unions around the world provided immediate support in our time of need and contributed to our rebuilding efforts. Now, we encourage you to give back to those who seek the same assistance as we once did."
To support Haiti's credit unions and members through the international credit union disaster fund, make payments, via check, credit card or wire to: Worldwide Foundation for Credit Unions Inc., 5710 Mineral Point Road, Madison, WI 53705, USA.
Donations also can be made online with a credit card at www.woccu.org/give. For wire transfer information, contact Valerie Breunig, Worldwide Foundation for Credit Unions at 608-395-2055 or via e-mail vbreunig@woccu.org. Please indicate the donation is designated for the Haiti Disaster Relief Fund.
U.S. credit unions also can support WOCCU's relief efforts by donating through the NCUF at www.CUAID.coop.
CUNA denounces banker opposition to MBL increase
WASHINGTON (1/21/10)--Credit Union National Association (CUNA) President/CEO Dan Mica contacted Senate leaders Wednesday and denounced bankers' efforts to dissuade lawmakers from supporting a bill that would create more than 100,000 jobs by removing the credit union member business lending (MBL) cap.
In a letter to Senate Majority Leader Harry Reid (D-Nev.) and Minority Leader Mitch McConnell (R-Ky.), Mica said he was "disappointed to see" a recent letter from the American Bankers Association which sought to discourage Senate support for including S. 2919, the Small Business Lending Enhancement Act, in jobs creation legislation that is expected to be considered in the near future.
"The bankers' once again oppose efforts aimed at providing small businesses with capital, and offer no alternative to address the current problems facing small businesses – problems that they have helped create and appear to be doing little to help alleviate," Mica said.
Encouraging both Reid and McConnell to support S. 2919 as it makes its way through the Senate, Mica said that "credit unions remain willing to lend to their small business-owning members," and "allowing credit unions to extend loans to these credit starved businesses will add fuel to a self-sustaining economic expansion."
S. 2919, which was introduced by Sen. Mark Udall (D-Colo.) late last month, would increase credit union MBL authority to 25% of assets and raise the "de minimis" threshold for a loan to be considered a member business loan to $250,000.
The legislation also has the support of Sens. Charles Schumer (D-N.Y.), Barbara Boxer (D-Calif.), Joseph Lieberman (I-Conn.), Olympia Snowe (R-Maine), Susan Collins (R-Maine) and Kirsten Gillibrand (D-N.Y.), and similar legislation is awaiting action in the House.
CUNA has estimated that lifting the MBL cap would free credit unions to loan as much as $10 billion to small businesses in the first year of enactment, a move that would create over 108,000 new jobs. CUNA has noted that while this will not solve the entire credit problem facing small businesses, it will provide meaningful assistance at no cost to taxpayers and without increasing the size of government.
CUNA letter
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