January 2012

Collaboration Corner
Credit unions & local dealership collaborate!

Kudos to the Wyoming Valley and Scranton Chapter’s small credit unions. They are sponsoring a new and used car sale January 16th at Bonner Chevrolet in Kingston, one of the largest dealerships in NE Pennsylvania. Bonner will accommodate representatives from all credit unions involved and will NOT pass off sales to alternative financing.

Collaboration of small credit unions at work for the betterment of their communitities!

For more information on how your group can undertake a similar car sale, contact Deborah Mozal, CEO of N.M.H. Federal Credit Union at 570-693-4522 or Debbie Peters, CEO of INCOL Credit Union at 570-457-8899.

Are you part of a formal or informal credit union alliance?  We would like to hear from you and share your successes in subsequent issues of SCUNet News.  Please send your information to rick.myxter@pcua.org. 

Providing Individual Development Accounts – Webinar Series

Assets for Independence (AFI), a division of the U. S. Department of Health & Human Services, is offering a series of webinars to introduce and explain the AFI federal grant program.  AFI provides funding for low income designated and community development credit unions, and other community-based organizations to provide Individual Deposit Accounts (IDAs) for qualified individuals in their area.  The funds can be used for education, to purchase a home, or start a business.

Registration is required online at http://idaresources.org/Calendar. The next webinar overviewing the program is scheduled for tomorrow, January 10, 2012; and another February 28: both at 2:00 p.m. Take a look today!

Compliance Q&A

Q: I have heard there is a change in the rules regarding the NCUA official advertising statement, do I need to do anything different?

A: That is correct. NCUA amended certain provisions of NCUA’s official advertising statement rule in June of 2011. Specifically, effective January 1, 2012, insured credit unions will be required to include the statement in a greater number of radio and television advertisements, annual reports, and statements of condition required to be published by law.

The NCUA Board also is defining the term ‘‘advertisement’’ and clarifying size requirements for the official advertising statement in print materials.

You can use an NCUA logo (click here) or the official advertising statement of "This credit union is federally insured by the National Credit Union Administration;’’ or simply ‘‘federally insured by NCUA.’’

Complete details on all the changes can be found here.

• Direct Assistance (one-on-one consulting)
• Training (classroom and online)
• Financial Assistance (grants and loans)
• Partnerships with government, non-profit and private organizations

The free video is available online at http://bit.ly/vsHHfE and in DVD format by emailing a request to oscuimail@ncua.gov.

NCUA Streamlines Process
In an effort to encourage more low-income credit unions to apply for loans and grants from the Community Development Revolving Loan Fund, the Board has issued a final rule (Part 705) to greatly streamline the operating requirements and improve the funds administrative flexibility. 

Click Here for complete information and applications.  Contact the Office of Small Credit Union Initiatives at oscuimail@ncua.gov for more information.

CUNA Mutual Announces
2012 Discovery Webinar Schedule

CMG is pleased to bring you a series of Discovery webinars as part of its ongoing commitment to education on issues impacting credit unions. The sessions are FREE with the first on being held on Jan. 18, titled Fixed Income Markets in 2012: Implications of a political stalemate.

To find out more and view a complete list of these FREE upcoming webinars, click here.

We encourage you to visit this page and bookmark for future reference.

Start 2012 in the GREEN!

SAVE with OfficeMax

Let OfficeMax help start the new year off on the right foot! Your Association, through our partnership with CUNA Strategic Services, is able to offer sustantial savings (anywhere from 31%-88%) of manufacturers' list price on your most frequently purchased items.

This credit union only pricing is good at over 1,000 OfficeMax retail locations, OfficeMax ImPress print and document services, and online at officemax.com with free next day delivery to most locations, no minimum!

Want to get started? Contact your Association Account Executive or visit the CSS/OfficeMax webpage.

Foundation Grants Available!

Credit unions with assets of $20 million and less can qualify for grants to support programs such as Financial Literacy, Technology, Strategic Planning, Marketing, and Education.

Information may be found here or contact Rick Myxter at 1-800-932-0661, ext. 5214 or at rick.myxter@pcua.org.