Early Birds Get Discounted Fees
The Association’s Annual Convention is a little more than two months away, but the early bird registration discount period ends in two weeks, March 26.
Submit your registration now to take advantage of discounted registration fees for conferees.
Encourage your young professionals to attend, as well. For every two paid conferee registrations, each credit union receives one free registration for a credit union professional under the age of 35 to experience the Convention.
Register today and don’t forget to order tickets for the Pennsylvania Credit Union Foundation breakfast Monday morning (May 17) and the closing banquet and entertainment Tuesday evening (May 18). Tickets for the Sunday night (May 16) CUPAC Comedy Night may be ordered with this form.
Registration Form
Room Rates Reduced
As announced Friday, room rates have been reduced at Bally’s. All reservations from convention attendees currently in the system will be changed to reflect the lower rates. The daily room rate for the primary room block in the Bally’s Tower has been reduced from $149 to $129 per room, per night.
Because of the reduced pricing, the Web site is no longer available for online reservations. All reservations must be made through Bally’s Reservations Department by calling 800-345-7253 between the hours of 9:00 a.m. and 5:00 p.m. Monday through Friday. Be sure to identify yourself with the Pennsylvania Credit Union Association in order to receive these special discounted rates. Please indicate your choice of the three lodging options below:
Bally’s Tower – $129 (most convenient to Convention area)
Dennis Tower - $119
Claridge - $89
All rates are based on single or double occupancy, plus applicable taxes and fees per room, per night. Each additional person is $20. The hotel reservation deadline is April 24, 2010.
Last Call For Ads
If you’re interested in placing an ad in the 2010 Convention Guide, do it today. All ad copy must be received by Friday, March 19. Click here for the ad placement form and specifications.
Credit Union Community Award Winners
The Credit Union Community Awards recognize credit unions that demonstrate their commitment to the community while illustrating the credit union difference. Awards will be presented to the 2010 winners during the Youth Ambassador Contest, May 17. The winners are:
Dora Maxwell Social Responsibility
$20-$50 Million:
First Place: Greater Pittsburgh Police FCU
Honorable Mention: Timberland FCU
$50-$100 Million:
First Place: MEADVILLE AREA FCU
Honorable Mention: PALCO FCU
$100-$200 Million:
First Place: Cross Valley FCU
Honorable Mention: Service 1st FCU
$200-$500 Million:
First Place: Erie FCU
Over $500 Million:
First Place: American Heritage FCU
Louise Herring Philosophy in Action
Less than $50 Million:
First Place: Superior Credit Union
$50-$250 Million:
First Place: Erie General Electric FCU
Honorable Mention: Bucks First FCU
Honorable Mention: Cross Valley FCU
Greater than $250 Million:
First Place: TruMark Financial Credit Union
Honorable Mention: Erie FCU
Desjardins Youth Financial Education
$35-$75 Million:
First Place: Keystone FCU
$75-$250 Million:
First Place: AmeriChoice FCU
Honorable Mention: Bucks First FCU
Honorable Mention: Service 1st FCU
More than $250 Million:
First Place: TruMark Financial Credit Union
Harrisburg Happenings
You can find this week’s edition of Harrisburg Happenings at http://www.pcua.coop/Affairs/Legislative-Publications.aspx. This publication highlights the latest happenings from the state capitol.
More Positive Press For Credit Unions
The Red, White, And Blue Press on Friday highlighted an article about looking into credit unions for banking needs. The article advises consumers to do some research in checking out credit unions to find the right one to join and compare rates and services.
Red, White, and Blue Press brings a variety of news from the top stories around the country to provide informative articles on topics concerning the nation today.
Read Article
Competitive Advantage With Instant Issuance
There’s no denying the competitive nature of the credit and debit card market. This push and pull within the industry is forcing credit unions to find innovative means to gaining, as well as retaining, members. In addition, member acquisition costs are high, yet a high percentage of cards are left inactive.
By implementing card issuance programs that are “cutting edge,” credit unions will not only advance their competitive position and maximize card activation, but in turn, increase member service/satisfaction and obtain that sought-after top-of-wallet position.
Gain your competitive advantage with Dynamic Card Solutions. Dynamic Card Solutions’ CardWizard is a comprehensive instant issuance solution that leaves your credit union with a fully functional branded card – ready for issuance, activation, and ultimately member use.
CardWizard offers:
- Enhanced member experience
- Immediate Activation of Debit and Credit Cards
- Member-Selected PIN at Branch Location
- Convenient Emergency Card Replacement
- Enhanced Card Issuance Security
For a demonstration of the Instant Issue solution from Dynamic, please contact your PCUA Account Executive.
2010 Census Forms To Arrive This Week
More than 120 million questionnaires will be delivered by mail to U.S. residential addresses this week. In addition, 12 million forms are being hand-delivered this month by census takers to addresses in rural areas. Over the next few months, census takers will also be visiting another 1.5 million addresses, designated as seasonal housing or extremely remote areas, to complete the questionnaire at the door.
College dorms, prisons, convents, nursing homes and other group homes will be counted in April, according to the Census Bureau.
The total number of questionnaires printed was 360 million. The pile of these forms when stacked would stand 29 miles high. Stretched end-to-end, the questionnaire would circle the globe three times.
Printing the forms delivered to residences required one printer using three printing presses, with one running 24 hours a day, seven days a week, for seven months. The other two presses ran 24 hours a day, seven days a week, for about seven weeks. The collective weight of the paper was 11.6 million pounds, and required 295,259 pounds of ink.
The forms are to be completed and returned as soon as received.
Census Scams To Avoid
From late April to July, census takers will be visiting households that fail to mail back the form. Con artists will use this as an opportunity to steal personal information. Watch for signs that point to a potential scam:
Legitimate census takers will not ask for Social Security numbers. Nor will they ask for credit union or bank account information, or credit cards.
The Census Bureau will never contact individuals by e-mail or refer people to a Web site to answer questions.
Legitimate census takers carry official badges and will provide the phone number of the local Census Bureau office so individuals can verify their identity.
Census takers will not ask for donations for a local charity or political party.
Contact your local Census Bureau office if you detect a scam. Suspicious e-mails that appear to be from the Census Bureau should be forwarded to ITSO.Fraud.Reporting@census.gov.
2010 U.S. Census
Chapter News
Chapter News
The Philadelphia Chapter of Credit Unions met on Tuesday, March 9. The topic was Challenges & Opportunities Facing Credit Unions, and included a panel discussion with Jay Murray, President/CEO, Mid-Atlantic Corporate FCU; Kevin Rock, NCUA; and Rick Wargo, Association EVP/General Counsel. Murray presented an overview of the corporate situation; Rock discussed NCUA exam priorities, which include MBL and vendor due diligence; and Wargo reviewed member growth, current compliance concerns, and the Governor’s proposed budget with concern over sales tax and implications for banks and credit unions.
Newsmakers
Newsmakers
PennTech Employees FCU celebrated its 50th Anniversary on Friday evening, March 12, at the Johnsonburg Fire Hall. There were 219 members in attendance for the meeting and dinner. Monika Scott, Association Account Executive, presented a clock and plaque to commemorate the Golden Anniversary.
National News
National News
Compliance: Answers on Reg CC notification, check-holding issues
WASHINGTON (3/15/10)--The Credit Union National Association (CUNA) has advised credit unions that they may provide a change notice in their newsletter if their current disclosures under Regulation CC are no longer accurate due to the recent elimination of nonlocal checks.
However, CUNA, in this month's Compliance Challenge, warns that that very newsletter may be released after the Reg CC compliance date of March 29. In that case, credit unions must determine the cost benefit of producing a separate mailing. Another option is to simply wait until after the compliance date to inform members.
No matter what action a credit union takes, its employees should ensure that their new account disclosures are updated, post information about the changes in their funds availability policies online. In general, credit unions should make as many online notifications as possible, and make sure that information posted in their lobbies and ATMs is correct.
Addressing the new check policy more directly, CUNA said that the "reasonable" timeframe for holding a check under one of the Regulation CC exceptions is one extra business day for cashier's, teller's, certified, and "on us" checks otherwise subject to next day availability, five extra business days for checks subject to second business day availability, and six extra business days for checks deposited in nonproprietary ATMs.
Additional days can be applied to large deposits, re-deposited checks, repeated overdrafts, and other emergency conditions, but the credit union itself is responsible for determining whether or not a given situation requires a longer hold period.
Compliance Challenge
Adjusting currency for blind would impact ATMs, CUs
MADISON, Wis. (3/15/10)--Credit unions could be impacted by proposed changes to U.S. currency that would make denominations easier to read for the visually impaired.
The U.S. Bureau of Engraving and Printing is working to redesign banknotes after the U.S. Court of Appeals in the District of Columbia in 2008 upheld a 2006 lower court ruling that the federal government violated the U.S. Rehabilitation Act by not providing meaningful access to banknotes for the blind and visually impaired (Payments Source March 9).
The Treasury is proceeding to redesign currency and will soon seek comment on the proposed designs. The comment period is expected to last about 90 days, said James Hanisch, executive vice president of CO-OP Financial Services in Rancho Cucamonga, Calif., a credit union service organization.
Currency size could change, or the size could remain the same with the inclusion of a Braille feature. If the size is changed, it could have a "fairly material impact," Hanisch told News Now.
Depending on which design the Treasury proposes and what denominations will be affected, the changes could be a "fairly expensive proposition" for credit unions. The $20 bill is the most commonly dispensed at ATMs, and its change would have the largest impact. The $1 bill will be exempt, and the $100 bill will be grandfathered in the next redesign, Hanisch said.
Changes in currency sizes could mean adjustments to cash drawers, vaults, and ATM canisters and dispensers. ATM manufacturers already have the capabilities to change the machines, since many countries have already adjusted their currency sizes for the visually impaired, he added.
The technology in Diebold's ATMs, which include the Opteva and the IX, is designed to support global currencies, Rebekah Smith, Diebold spokesperson, told News Now.
The ATMs also are equipped to handle currencies of different sizes, materials and thickness. "Diebold is confident in the design of its ATMs," she said in regards to the proposed changes.
Diebold is a CUNA Strategic Services provider.
Currency changes could cost $3,000 to $5,000 per ATM, depending on the denomination. CO-OP offers about 28,000 ATMs, Hanisch said.
At minimum, the changes are a year a way. "It's just starting to sink in how significant this could possibly be," Hanisch said.
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