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SCUNet News
May 2011   

      Education Grants   Collaboration Corner   CU PolicyPro Tip   Compliance Q&A   NCUA News   Volunteer Development  

 

MemberCONNECT
Build Relationships and Improve Your Bottom line

Do you want additional revenue while helping your members? CUNA Mutual Groups’ MemberCONNECT Program offers affordable insurance products including Life, AD&D, Auto and Homeowners to your members. 

Member information is secure and kept confidential.  The program is compliant with state and federal regulations. To learn more about MemberCONNECT contact your Account Executive.

Volunteer Development Conference
June 24-25, Lancaster, PA

As credit union board and committee members, you fill a distinctive and essential command within your credit union. The onslaught of new operational rules and regulations including director accountability, escalating fraud attempts, and economic worries continue to be areas of concern.

Come together, learn from industry professionals, network with your peers, and unite for a strong tomorrow. This year’s agenda includes a comprehensive financial literacy workshop, and attendees will receive a certificate of attendance to meet the new NCUA guidelines on director training.

For more information and to register, click here.

FOUNDATION GRANT FOR EDUCATION
Don't miss this opportunity!
The Pennsylvania Credit Union Foundation recently announced a new grant program to encourage credit unions under $20 million to take full advantage of webinar training opportunities. 

Credit unions may apply for a grant up to $1,000.00 or the cost of four webinars, whichever is less. Grant information can be found under the PA Credit Union Foundation Grant Criteria webpage (look to very bottom of page).

Webinars are an easy, affordable, and convenient way to keep staff and volunteers up-to-date on critical issues.  PCUA has a variety of webinar and audio training sessions on today’s hottest topics and trends.  Get started by choosing your webinars today


COLLABORATION CORNER
Credit union collaboration can be defined as multiple credit unions cooperating to drive scale, efficiency, and performance in core back- and front-office activities. 

Most credit union CEO’s will agree that margins have declined and operating expenses have increased. So why aren’t more credit unions collaborating?  Two primary reasons are an aversion to change and loss of control.  Both understandable, but must be overcome if SCUNet credit unions look to survive and thrive. 

Collaboration is a phased process that occurs in steps, not leaps.  Take the first step: create a coalition with another credit union having similar needs and wants.  Keep it simple. Group purchasing of supplies or sharing of credit union policies and procedures and go from there.

The Filene Research Institute has made two collaboration resources available via CUNA's Resources for Small Credit Unions webpage or by using the links below.  

A Road for Credit Union Collaboration
Connecting the Dots on CU Collaboration: A Colloquium at the Wharton School

Currently working in a collaborative environment? SCUNet staff would love to hear from you!  Please email us with detail on your collaborative efforts and outcomes so that we can share them with your peers.  All hurdles can be overcome if we work together.

Need help getting started. Email Rick Myxter at rick.myxter@pcua.coop or call
800-932-0661, ext. 5214.


Lines of communication:  Help us help you! When sending an email, please be sure to provide complete contact information including credit union name and how best to reach you.

DISASTER PREPAREDNESS
1A lot has happened the past few weeks as a result of the turbulent weather:  flood and wind damage, tornados, power outages, etc. Was your credit union prepared for the impact to your operations? Did you know that CU PolicyPro has several policies that can assist with disaster preparedness.

  • Policy # 2120 Disaster Contingency Planning
  • Policy # 2191 Chain of Command
  • Policy # 2192 Emergency Powers

Keep in mind, these policies are just the start. Who will you contact?  Do you have the contact information and contract numbers for all your key venders?  What about your staff and board members?  Regulatory agencies? This information and much more can be stored in the Storage Area of CU PolicyPro and will be available to you via any Internet connection 24/7.

For help in taking full advantage of CU Policy Pro, contact PCUA Compliance & Operations Officer Elaine Royer at 800-932-0661, extension 5341.


COMPLIANCE Q&A
Q: When will financial institutions have to start making $200 of non next-day deposited checks available on the business day after deposit? (Reg. CC currently requires only $100 to be available next day.)

A: Financial Institutions will have to make that change on or before July 21, 2011, regardless of whether or not Reg. CC has been amended by that time. Consider all operational aspects that could be impacted, such as:

  1. Possible changes to core processing prorgramming
  2. New disclosures
  3. Website changes
  4. Updated policies
  5. Employee training

NCUA NEWS: Reimbursing Credit Union Volunteer Costs
Associate directors or other credit union officials that occupy volunteer positions established by credit union directors may be reimbursed for any training or related traveling expenses according to the NCUA.

NCUA has decided that these types of volunteers (i.e...non-voting, advisory committees) would be eligible for reimbursement so long as the volunteers are not simply serving in an honorary capacity and are providing services that are established by the credit union's management team. Board and committee members are also allowed to be compensated for these sorts of expenses under the Federal Credit Union Act.

Pennsylvania Credit Union Association
4309 N Front Street, Harrisburg, PA 17110    800.932.0661   http://www.pcua.coop