Small Credit Union Network heading
November 2011
Say Yes to
First Mortgages
Scholarships Collaborate Tip of the Month Compliance Q&A Invest in
America
NCUA
Assistance

Think you're too small to offer a First Mortgage Program? Think Again!

Yes, you can grow your loan portfolio with a First Mortgage Program.

first mortgage programs

The Association's business partner, First Heritage Financial has a First Mortgage Program that fits credit unions of any size! Contact your Association Account Executive for more information.

Invest in America News

There are so many great things going on with Invest in America! If you haven't looked lately, take a few minutes -- you'll be delighted to see what the benefits of partnership can do for your members, and ultimately your credit union. Join today!

Contact your Association Account Executive for more information on the Invest in America programs, or click here for the IIA Partner Center.

NCUA Financial Assistance

The office of Small Credit Union Initiatives administers the Community Development Revolving Loan Fund which provides financial assistance in the form of technical assistance grants and loans to assist  low-income credit unions. 
NCUA
Click here to be directed to the page with the requirements and applications.  If you are not sure if you qualify, contact your examiner for determination.

We're on the move!
Effective, Monday, October 24, the Association website and email addresses are no longer using .coop; but rather have the .org extension. Be sure to update your database and internet favorites! The Association website can now be reached at www.pcua.org; or you email SCUNET at scunet@pcua.org.


Judge/Bradley Scholarships!
Scholarship Applications are now being taken
Memorial Scholarships are awarded annually to deserving credit union professionals of any Association-affiliated credit union who wish to attend the Judge/Bradley Leadership School.  The scholarship covers tuition and some additional expenses to attend the Judge/Bradley Leadership School. 

Judge/Bradley Leadership School...
building tomorrow's credit union leaders

Applications must be submitted by December 31, 2011. Click here for the Application Form


collaborateCollaboration Corner
CEO Survey Results Shout Help with Foundation Grant Applications & More Collaboration

Thank you for a strong response to the recent Small Credit Union Network Survey.  You indicated a lack of time and difficulty completing the grant application deters submission.  Grant writing will be featured at future workshops and I also invite any credit union needing assistance to contact me directly, Rick Myxter, Director, Small Credit Union Development by email or calling 800.932.0661, extension 5214.

Results also indicate a preference for breakfast or lunch meetings rather than evening or Saturday sessions; and meeting content in the areas of compliance, marketing, lending and volunteer training. This valuable feedback will be used in developing website content and workshops for 2012.

Contact Rick Myxter for guidance on how to get started on a small credit union collaboration project, assistance with foundation grant applications.


CU PolicyPro Tip of the Month
Do you sometimes wonder where to start in reviewing or revising your policies.  Which one should you concentrate on first? CU PolicyPro can remove the guess work. 

policy guidelinesA file in the Library section of the manual entitled Content Guidelines lists all the files within the manual, coding them as Mandatory, Mandatory if product is offered, Recommended, Optional, etc. Utilizing these guidelines will allow you to concentrate on the policies you must have on hand.

For personal assistance on the use, policy availability and applications of CU PolicyPro, please contact Elaine Royer, PCUA Compliance & Operations Officer by email at elaine.royer@pcua.org or by phone at 800.932.0661,
extension 5341.


Compliance Q&A
Q: We have a member who is delinquent on an automobile loan and we would like to repossess the vehicle. How do we proceed?
A: You've got two options: the court system or a self-help approach.

Auto Repossession: Using the Court System

  • With this method, you sue the member in court for violation of the loan contract- member isn't paying you as agreed.
  • You can go to court immediately after the borrower is in default of a payment or otherwise violates the contract.
  • If everything goes your way, the court could issue a judgment against the borrower and a sheriff or constable could be used to pick up the vehicle.
  • As is appropriate in all court proceedings, you should seek help from an attorney.

auto lendingAuto Repossession: Using the Self Help Approach

  • Most credit unions will repossess using a self-help approach - they repossess the vehicle themselves or use a third party.
  • If a lender is able to repossess the vehicle without "breaching the peace" (such as becoming involved in a heated argument with the borrower), the lender can recover the vehicle.
  • Prior to repossessing a vehicle, you or your third party agent must inform the local police department to avoid any false claims of the vehicle being stolen.
  • After repossessing a vehicle, you must give the member a written "Notice of Repossession." This can be delivered either in person or through registered/certified mail sent to the persons last known address.

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