Fleur de Lis 7.0:Fleur de Lis - Louisiana Credit Union League

SINCE 1934
824 Elmwood Park Blvd., Suite 200 • Harahan, LA 70123
Join us May 21 - 23
Louisiana
Governmental
Affairs
Conference
Marriott Hotel, Baton Rouge
SINCE 1934
A Publication of the Louisiana Credit Union League
Issue 1 Volume 10
SINCE 1934
Crime of
the century...
Bank Secrecy Act
Noncompliance
Inside: 2006 Year-End Financial Insights President’s Call to Service Award
COMMON PURPOSE.
UNCOMMON COMMITMENT.
THINK CUNA MUTUAL
When you’re playing to win, it makes sense to have CUNA Mutual at
your side. Like a great caddy, CUNA Mutual provides you with carefully
chosen tools to advance your game, hone your competitive edge and
stay relevant to your members.
DRIVE NON-INTEREST INCOME AND STRENGTHEN RELATIONSHIPS
WITH MemberCONNECT.™
Meet more of your members’ protection needs and earn more non-interest
income with one easy, no-cost program.
ELEVATE YOUR GAME WITH SOPHISTICATED, SIMPLE, GUARANTEED
401(k) OPTIONS.
With new 401(k) offerings and capabilities, including lifestyle funds
and automatic enrollment, preparing employees for retirement has never
been easier.
UNCOVER GREATER INVESTMENT OPPORTUNITY WITH
CUNA MUTUAL ASSET MANAGEMENT.
The Asset Management Group recently delivered an additional 109 basis
points portfolio yield to CUNA Mutual Group. Isn’t it time you partnered
with CUNA Mutual for your investments?
MAXIMIZE YOUR LENDING PERFORMANCE WITH
PAYMENT PROTECTION.
Increase your revenue potential and offer valuable protection products
and peace of mind to members.
www.cunamutual.com/getinthegame
001-0619-0207
Fleur de Lis
LCUL & CUCB STAFF:
Leslie Bechtel, Assistant Manager (Shreveport)
Sharlene Begnaud, Vice President
Donna Bordelon, Member Services Consultant
Gayle Boudreaux, Accountant
Kim Chiasson, Product Support Specialist
Anne Cochran, President and CEO
Elida Doiron, Network Director/Trainer
Pam Dychtwald, Director of Training & Development
Susie Fair, AVP of Member Services
Theresa Fonseca, Print Room Specialist
Angela Gervais, Director of EFT Sales & Service
Jennifer Green, Director of Educ. & Communications
Lacey Hyer, Public Relations Specialist
Kelly Johns, Executive Assistant
Christopher Johnson, Product Support Specialist
Barbara Kimball, Manager (Shreveport)
Jill Kitchens, Governmental Affairs Specialist
Vince Liberto, Vice President
Connie Major, Executive Vice President
Sherri Maurin, Manager (Metairie)
Elizabeth Murla, Accounting Assistant
Jennifer Plaisance, Director of Accounting
Carolyn Ricks, Director of Research & Information
Gary Robinson, Director of Compliance
Cassandra Williams, Manager (Baton Rouge)
Mary Wolfe, Member Services Consultant
LCUL BOARD OF DIRECTORS
Virgil Allen, Tangipahoa Parish Teachers CU
Glen Beard, Alexandria Municipal ECU
Rodney Beard, Shreveport FCU
Ray Chavanne, McNeese FCU
Tom Conner, Southwest Louisiana CU
Sig Gary, St. Jules Credit Union
Anna Grado, Section 705 FCU
Larry Hansen, Michoud Credit Union
Edna Hickman, District 08 FCU
Charles Johnson, Barksdale FCU
Charles Kramer, Aneca FCU
Bobby Major, Jr., Claver FCU
Ginger Manint, Eagle Louisiana FCU
Patricia Morris, Monroe Telco FCU
Vicki O’Brien, Jefferson Parish EFCU
Sidney Parfait, Post Office Employees CU
Norman Thompson, Neighbors FCU
Richard Turnley, Southern Teachers & Parents FCU
Julius Wagoner, Ouachita Valley FCU
Table of Contents
Crime of the Century:
Non-compliance with Bank Secrecy Act ..............4-5
Upcoming Workshop:
Preparing for the BSA Exam....................................5
2007 Governmental Affairs Conference Highlights....................7
Looking Back:
2006 Year-end Credit Union Statistics. ................................ 8-9
Service Center Holidays and Hours ..........................................10
Moore and Uffman Honored with
President Call to Service Award ............................................ 11
Louisiana-Mississippi Leadership Cruise Sets Sail....................12
Come One! Come All!................................................................ 13
Youth Week..................................................................................13
Keeping up with LCUL Staff ........................................................13
CONTACT INFORMATION:
Lacey Hyer: Editor
Louisiana Credit Union League
824 Elmwood Park Blvd., Suite 200
Harahan, Louisiana 70123
(800) 452-7221 • lhyer@lcul.com
Mortgage Services for your Members
Now Offered Through CU Members Mortgage ................ 14
GENERAL INFORMATION:
Fleur de Lis is produced quarterly for members
of the LCUL. © 2007 Louisiana Credit Union League.
Briefly Speaking.................................................................... 15-16
Issue 1 Volume 10
Winter 2007
Fleur de Lis 3
COVER STORY
Crime of the Century:
Non-Compliance
AS WE STRUGGLE TO KEEP OUR HEADS
above the turbulent waters of Bank
Secrecy Act compliance, let's keep in
mind that our regulators are working
to do the same. Non-compliance with
the anti-terrorism laws could be
extremely expensive; it could even send
you to prison. In the aftermath of 9/11
and the continuous threat of terrorism,
the government has enacted regulatory
requirements intended to identify
those involved in money laundering.
This is part of the Executive Order
13224 (Order) issued by President
Bush on September 24, 2001. The
goal of the Order is to prevent, thwart,
and suppress acts of terrorism in the
United States and around the world.
The penalties for non compliance
with the Bank Secrecy Act can be
extensive. Credit Unions need to comply
in order to support the Executive Order
and to alleviate the potential fines.
FinCEN has records available on their
website of the penalties imposed, as well
as the descriptive list for non-compliance.
Riggs Bank paid a $25 million civil
money penalty imposed by the OCC
and FinCEN for failure to properly file
suspicious activity reports (SARs).
AmSouth Bank paid a total of $50
million ($10 million assessed by
FinCEN and the Federal Reserve as a
civil money penalty and $40 million
in the form of a forfeiture action
brought by the Department of Justice)
for Bank Secrecy Act violations. These
are record fines.
Recent enforcement actions have
emphasized the importance of an
educated team and the expectation
that BSA compliance starts at the board
and management levels. Credit union
boards, volunteers and management
should take part in the training that is
offered to all employees. The education
for the board of directors need not be
as detailed as that of the front line staff.
Management, on the other hand, needs
to be sure the policies and procedures
set by the board are followed. Those
who should have in-depth training include
front-line personnel, account-opening
personnel, backroom/wire/operations
personnel, and the BSA compliance
officer.
Pursuant to the regulation, the
board of directors’ responsibilities
does not begin by simply implementing
policy and procedures in order to
comply with the reporting and
record-keeping requirements of the
BSA. In order to develop a policy that
is acceptable, a risk assessment must
be performed. There is no one-size-fits-all
risk assessment. It involves a
thorough analysis of products, services,
members, geography, SEG’s and the
potential level of risk for money
laundering in each of these areas. In
addition, evaluate the frequency of
staff turnover and consider whether
the credit union is located in what is
referred to as a High Intensity
Financial Crimes Area (HIFCA) or a
High Intensity Drug Trafficking Area
(HIDTA). You can find out more about
these designations by visiting the Web
sites www.whitehousedrugpolicy.gov
and www.fincen.gov. Generally, if a
credit union operates in a small
community, the risk is most likely
pretty low. However, small community
credit unions may operate in parts of
the country designated as High Intensity
Drug Trafficking Areas or High Intensity
Financial Crimes Areas. For credit
unions located in larger communities,
the risk will potentially be greater.
Once the risk assessment is performed,
an explicit BSA compliance program
can be developed for the credit
union. The policy must include:
• A system of internal controls to
ensure ongoing compliance;
• Independent testing for compliance,
to be conducted by credit union
personnel or by an outside party,
not directly involved in BSA;
Pam Dychwald, Director of Training and Development
4 Fleur de Lis
Upcoming Workshop:
with Bank Secrecy Act
• Designation of an individual or
individuals responsible for
coordinating and monitoring
day-to-day compliance;
• Provide training for appropriate
personnel;
• And, implement a customer
identification program.
If a credit union fails to meet these
requirements, they may be issued a
90 day Document of Resolution. If
they fail to correct deficiencies that
have been stated by the regulator in
the DOR, the credit union may find
itself on a quick path to an enforcement
action. In fact, 12 U.S.C. [section]
1818(s) requires the regulators to
issue a cease-and-desist order if the
credit union has failed to establish
and maintain an anti-money-laundering
program or failed to correct any
problem previously identified by the
regulator.
The lack of training in credit unions
has been noted as one of the most
common violations for BSA compliance.
The Louisiana Credit Union League has
been providing on site training
throughout the state for the last two
years. In order to successfully keep
up with the demand and need, we have
developed a Bank Secrecy Act/AnitMoney Laundering training CD.
The CD includes the PowerPoint
presentation used in the live sessions,
as well as audio from the Director of
Training, Pam Dychtwald. Also
included in the packet are the current
forms, a handout of the presentation,
and instructions for the program. It
is now available to our credit
unions as a dues supported service,
at no additional charge. As there
are changes in the BSA regulation or
new areas brought to our attention, the
program will be updated. In the next
quarter, we will have the Security
(Robbery Prevention) training program
available in disk format as well. If you
wish to order a copy of the BSA/AML
training CD, please contact Pam
Dychtwald via email at
pdychtwald@lcul.com or call
1-800-452-7221, ext. 3004. Please
include your name, credit union
name and mailing address.
Preparing for your
BSA Exam
Join Debbie Crawford Stone for an
information-packed workshop on
April 25 on Preparing for Your
Bank Secrecy Act Exam. This program
will give you the opportunity to
review the BSA manual in its entirety
and compare your policy, procedures
and worksheets with other BSA
officers and compliance folks. Most
importantly, you will have the chance
to make a determination of how
you are doing before the examiners
get to your credit union. This seminar
is much too important to miss if you
are your credit union’s Manager, BSA
Officer, Compliance Officer, Internal
Auditor, or anyone else within the
credit union who has responsibility
for setting BSA policy and procedure.
This program is being held on April
25 at the Marriott Hotel, located at
5500 Hilton Avenue in Baton Rouge.
Your educational investment is just
$219 per person to attend this
program. With your registration, you
will receive the BSA manual and the
law on CD.
For more information or to register,
please email education@lcul.com
or call Jennifer Green, LCUL
Director of Education &
Communications, at
(800) 452-7221, ext. 3024
Fleur de Lis 5
6 Fleur de Lis
GOVERNMENTAL AFFAIRS
2007 Governmental Affairs
Conference Highlights
CLOSE TO 100 LOUISIANA CREDIT UNION LEADERS
arrived in Washington, DC on Saturday, February 24th,
for the annual Credit Union
National Association’s (CUNA)
2007 Governmental Affairs
Conference (GAC). On
Wednesday, February 28, 2007
Louisiana credit union leaders
headed to Capitol Hill to visit
with our Congressional
Delegation. The day began
with Jeff Brooks, Adams &
Reese, LLC, the League’s
retained lobbyist, speaking to
the group during breakfast at the Willard
InterContinental Hotel before heading to the Cannon
House office building on
Capitol Hill. Once the group
arrived at the Cannon House
office building, they were
addressed by Congressmen
Charlie Melancon (D), Richard
Baker (R), Bobby Jindal (R),
Rodney Alexander (R),
Charles Boustany (R) and Jim
McCrery (R). Senators David
Vitter (R) and Mary Landrieu
(D) both addressed the group
in the Dirkson Senate office building, discussing topics
such as the importance of protecting the credit union
tax-exemption and CURRIA.
“It is important for us to remind our legislators of
issues that are important to
credit unions at every
opportunity,” says Connie
Major, Louisiana Credit Union
League’s Executive Vice
President. “The opportunity
to meet face-to-face with our
Congressional Delegation is
invaluable.”
It’s never to early to start
planning to attend next year’s
CUNA GAC, which is scheduled
to take place for March 3 – 6, 2008 at the Convention
Center in Washington, DC. Contact Jill Kitchens,
Louisiana Credit Union League
Governmental Affairs
Specialist at (800) 452-7221
ext. 3021 or by email at
jkitchens@lcul.com for more
information.
Connie Major, Executive Vice President
Fleur de Lis 7
MEMBER SERVICES
Looking Back:
2006 Year-End
deposit fund also grew by 12.2% from 2005.
LOOKING AT CREDIT UNIONS’ PERFORMANCE
Loans increased at a faster pace than in 2005 with a
statewide, it could be said that 2006 sent a mixed
7.8% total loan growth, compared to 6.3% for 2005.
message. There is some indication that healing after
Credit unions saw 6.5% growth in credit card balances,
two devastating hurricanes is well under way, but the
12.9% growth in new auto
impact of a rising interest rate
Loan
&
Share
Growth
loans, and 3.5% growth in
climate will bring challenges
used auto loans. First mortgages
for 2007. We ended 2006
grew 10.8% and other real
with five fewer credit unions,
estate 2.5%. Business loans
making the total of federally
rocketed to over $19,2
insured federal and state
million, more than double the
credit unions 243.
outstanding balances of 2005.
Participation in the Credit
Overall this loan growth
Union Service Center network
accounted for a total loan
rose dramatically, with 10
growth of 7.8%. Yield on
additional member credit
average loans increased
unions or a 22.2% increase.
marginally from 7.04% in
Membership in credit unions
2005 to 7.09%, and accounted
grew, but by a very slight
Delinquency & Net Charge-Offs
for an 8.2% increase on
.10%, or just 1129 members.
interest income on loans.
Full time employees rose 5.8%
Asset quality showed a general
by 160 employees, while part
improvement as evidenced by
time employment remained
a 20.23% decline in the amount
the same as year end 2005.
of delinquencies from 2005 to
Assets
2006 and a 14.18% decline in
Asset wise, Louisiana’s credit
the amount of charged off
unions saw a decline of 1.4%,
loans.
ending the year with total
Member Deposits & Capital
assets of $6,432,574,363.
Total shares and deposits statewide dropped 2.8%,
Investments saw a decline of 12.4%, as credit unions
with share drafts declining by 9% and regular shares
redeployed this money either into loans (7.8%
dropping 10.2%. It is likely that we saw a migration
increase), land and buildings (23.1% increase), or
to higher yielding accounts with the other shares and
other fixed assets (9.9% increase). The NCUSIF
Susie Fair, AVP of Member Services
8 Fleur de Lis
Credit Union Statistics
deposits category growing by 10.4%.
statewide average. Return on average assets almost
Undivided earnings grew a healthy 10.6%, and
reached NCUA’s code 1 ranking, ending the year with a
regular reserves and other reserves combined with
statewide average of .98%, as compared to .45% for
this to produce a total equity increase of 8%.
2005. Net margin was up, 5.41% compared to 5.17%,
Income & Expenses
and Operating expenses saw
Return
On
Average
Assets
Loan income reflected 8.2%
an increase from 4.05% to
increase, investment income
4.16%. Loan to share ratio
produced a 50.3% increase,
increased from 65.37%
and other income grew by
statewide average to 72.47%
9.7%. Salaries and benefits
year-end 2006. Members are
grew slightly less that 2005, at
spending some of their
7.5% compared to 7.9% for
savings, as evidenced by a
2005 year end. Other operating
decline of the average shares
expenses grew 8.3% and non
per member from $5,140 to
operating income declined
$4,992, but they definitely are
over $1.5 million to produce
borrowing, as the average
a 44.4% drop. Cost of funds
loan balance grew from
grew 32.2% from 2005 to
$7,415 to $8,288.
Net Worth To Assets
2006 as rising rates led to
The information used
increasing dividend expense.
to prepare this report was
Net income more than
obtained from the year-end
doubled, ending the year at
financial performance reports
$63,601,766, a 130.1%
of all federal and state chartered
increase from year end 2005.
credit unions in Louisiana as
Key Ratios
reported to NCUA.
Statewide average net worth,
For more information or
the C in CAMEL, rose from
details, contact Susie Fair,
12.15% year-end 2005 to
Assistant Vice President of
13.28% year-end 2006. Delinquent loans reflected
Member Services for the Louisiana Credit Unions
improving asset quality, dropping from 1.49% to
League by phone at(800)452-7221 extension 3052 or
1.14% on average. Net charge offs also showed
by email at sfair@lcul.com.
marked improvement dropping from .8% to .57%
Fleur de Lis 9
Credit Union Service Center Holidays
We have provided a list of the holidays that will be
observed in 2007. Service Center locations will be open
Martin Luther King’s Day, President’s Day, Good Friday,
Columbus Day, Veteran’s Day (observed Monday,
November 12th), the day after Thanksgiving. If your
credit union observes these holidays, please inform your
members that the service centers will be open for their
convenience.
Our three service centers have extended hours to better
serve our customers. They are currently open Monday
thru Friday from 9:00 a.m. to 7:00 p.m. and on Saturdays
from 9:00 a.m. to 5:00 p.m.
New Years Day
Mardi Gras Day
Memorial Day
Independence Day
Labor Day
Thanksgiving Day
Christmas Eve
Christmas Day
New Years Eve
New Years Day
January 1st
February 20th
(Metairie SC Only)
May 28th
July 4th
September 3rd
November 22nd
December 24th
(close @ 1:00 p.m)
December 25th
December 31st
(close @ 1:00 p.m.)
January 1st, 2008
With Credit Union Service Centers,
your nearest branch is just
around the corner…
justaround
no matterwhere you are!
Through CU Cooperative Branching, credit unions have joined
cooperatively together and created shared locations to serve your
members with over 2,300 branches worldwide. Wherever your
members see our distinctive “swirl” logo, they know they are
at a credit union service center location. To learn more
about how your credit union can connect your members
to our shared branching locations, please contact
Elida Doiron at (800) 452-7221, ext. 3055 or
edoiron@lcul.com or Sharlene Begnaud at
(800)452-7221, ext. 3005 or sbegnaud@lcul.com.
10 Fleur de Lis
FEATURE STORY
Moore and Uffman honored with
President’s Call to Service Award
NCUA CHAIRMAN JOANN JOHNSON PRESENTED THE CALL TO
Service Award to each recipient at a ceremony on Wednesday,
Dec. 20, at the Baton Rouge Credit
Union Service Center. Nominated by
the Louisiana Credit Union League, Jim
Moore and Kenneth Uffman received
the Call to Service Award in recognition
of each man’s contribution of more than
4,000 volunteer hours to financial and
education causes. The President’s Call to
Service Award was created by President
Bush’s Council on Service and Civic
Participation to thank and honor
Americans who, by their demonstrated
commitment and
example, inspire others to engage in volunteer service.
“Jim Moore and Ken Uffman are examples of what we can all
do if we put others ahead of ourselves. They have dedicated
themselves to making our schools better places for our students
to learn and teaching young people about the importance of financial
literacy and managing your money. We
are proud of their work and proud to
have been partners with them for many
years,” said Anne Cochran, president
and chief executive officer of the
Louisiana Credit Union League.
James “Jim” H. Moore’s contributions
and services during the last 50 years
are endless. Jim has offered his
personal time and utilized professional
experience to volunteer with Baton
Rouge-area public schools and tutor
young students, receiving the Golden
Apple Award in 1984 and 1985 for his dedication. He also has a
30-year affiliation with the Crisis Center, creating the “Leave a
Legacy” program and volunteering for more than 10 years on
the crisis phone line and the creation of the Survivors of Suicide
Support Group. Jim was elected to the board of directors of the
Esso Process and Mechanical Federal
Credit Union in 1952. At that time, his
credit union listed assets of less than $1
million. Fifty years later, that credit
union listed assets in excess of $100
million, which are used to make loans to
credit union members. Today, Jim is
retired and enjoys traveling and spends
time with his grandchildren. He also still
makes time to play an active role in the
community.
Kenneth “Ken” E. Uffman has made
improving the financial literacy of young
people his mission. After a 47-year career as the chief executive
officer of the Credit Bureau of Baton Rouge and the chief executive
officer of APPRO Systems, Ken retired in 1998. Ken was
commissioned by the Credit Bureau of Baton Rouge to develop a
statewide strategy to improve basic financial literacy and education
for all students and adults in Louisiana.
Recognizing that poor financial literacy
and discipline can reduce an individual’s
economic well being and security in
many ways, Ken created the Jump$tart
Coalition in January 2000 to coordinate
and promote partnerships with federal,
state and local governments, non-profit
organizations and private enterprises,
including the development of a multimedia
campaign to improve financial literacy.
Today, Ken continues to serve as the
statewide coordinator for the Jump$tart
Coalition, building partnerships with more than 50 partners, including
the Louisiana Credit Union League, all of whom implement
their own financial literacy awareness and training programs.
Fleur de Lis 11
EDUCATION
Louisiana-Mississippi
Leadership Cruise sets sail
OVER 500 CREDIT UNION PROFESSIONALS AND VOLUNTEERS
set sail Thursday, February 1 our first ever LouisianaMississippi Leadership Cruise.
Attendees departed from New
Orleans for a four-day cruise
packed full of valuable educational
session and fabulous
networking opportunities for
credit union CEOs, management,
and volunteers.
On the first evening of the
conference, attendees enjoyed
an Opening Reception. This
reception gave everyone the opportunity to meet other credit
union professionals and volunteers from all across Louisiana
& Mississippi.
The education sessions
began Friday morning, February
2, with an opening session on
leadership by Tom Glatt. In this
session, Glatt shared some
important qualities of leaders,
including having the authority of
knowledge, living by a set of core
values, producing change, and
giving your all. Leaders are also
visionary, risk-takers, ethical, and
optimistic. As always, Glatt mixed
in Cajun humor to give his presentation just the right
balance of fun and learning. Other sessions offered on Friday
included an informative presentation on strategic planning
led by Susie Fair and also a session on using demographics
to better serve your membership.
On Sunday, February 4,
2007, our first session focused
on effective board governance. In
this session, some commonly
asked questions were addressed,
including: What distinguishes
policy from procedure?; What is
within the Board’s purview,
versus operations?; How do we
communicate confidence in
management, and still stay
involved?; How is “good” leadership defined and measured?;
and What are the signs that it is time to make change in
Board policy?. The next session discussed CEO-BoardManagement Relationships and
focused on ways to build strong
relationships among the board and
credit union management -- everyone
must work at it, everyone must
be willing to change behavior if
necessary, and everyone must
communicate more effectively.
Mark your calendars for
our next Leadership Cruise,
which is scheduled to set sail
from New Orleans on March 27
to March 31, 2008. More information and registration forms
will be available soon.
Jennifer Green, Director of Education & Communications
12 Fleur de Lis
Come one! Come All!
Step right up! Make plans now to join
the Louisiana Credit Union League as
we take you Under the Big Top for our
upcoming Annual Meeting &
Convention. This year’s convention will
be packed full of educational sessions,
networking opportunities, and fun for
everyone, including lively carnival
games in the exhibit hall, face painting,
and more! Mark you calendars for
August 1 – 4, 2007 at the Sheraton
Hotel in New Orleans. More information
will be available soon on our
website – www.lcul.com. If you have
questions, please contact Jennifer
Green at (800) 452-7221, ext. 3024 or
jgreen@lcul.com.
National CU Youth Week
CAST YER NETS TO CAPTURE YOUR
young pirates with this year’s Stash
Your Cash @ the
Credit Union theme
and give them the
attention they deserve.
Educate youth about
the financial benefits
of credit union
membership and
convince them to
begin saving their
pirate booty at your
credit union. They’ll
turn to you for their
first checking accounts, credit cards,
student and auto loans, and mortgages.
CUNA has Youth Week planning and
celebration resources on their Web site
for credit unions to use to promote the
theme- Stash Your Cash @ the Credit
Union. You can find these
resources at:
http://www.cuna.org/
initiatives/youth/
youth_week.html. Or by
visiting www.buy.cuna.org
and enter "YouthWeek" in
the product finder.
For assistance with
customizing Youth Week
products for your credit
union, contact Lacey
Hyer, LCUL’s Public Relations Specialist,
at lhyer@lcul.com or (800) 452-7221,
ext. 3100.
hÉÉéáåÖ=ìé=ïáíÜ
LCUL STAFF
The Louisiana
Credit Union
League is pleased
to welcome
Lacey Hyer, our
new Public
Relations
Specialist. Lacey
recently graduated from Our Lady
of Holy Cross College with her
bachelor’s degree in Marketing. In
her position at LCUL, Lacey will be
responsible for coordinating
League communications and public
relations efforts.
Please welcome
Christopher
Johnson,
LCUL’s new
Product
Support
Specialist.
Christopher is
currently a student at the University
of New Orleans and will complete
his bachelor’s degree is General
Studies this summer. In his position
at LCUL, Chris is responsible for
providing technical support for
ATM/EFT issues, as well as information
technology and website design.
Fleur de Lis 13
CU MARKETPLACE
Mortgage services for your members...
now offered through CU Members Mortgage
AS PART OF OUR ONGOING COMMITMENT TO
provide the best possible products and services to our
Louisiana credit unions, we are pleased to introduce CU
Members Mortgage.
Founded in 1982 as a division of
Colonial Savings, CU Members
Mortgage provides comprehensive
mortgage services to more than
700 credit unions, CUSOs and
leagues nationwide. Offering more
than 150 different loan programs,
the company originates more than
$4 billion in mortgages annually,
and is one of the largest providers
of mortgage loans in the United
States, with a portfolio exceeding
$10 billion. Advanced technology,
including an online application
that delivers a firm decision in
minutes, makes CU Members
Mortgage the credit union industry’s
leading resource for mortgage
services. Privately held and
headquartered in Dallas, Texas, CU
Members Mortgage has offices located throughout the country.
For more information, visit www.cumembers.com.
CU Members has been recognized for the following:
Prime Alliance, Multi-Site Lender of the Year, ‘05 & ‘06
Fannie Mae, CUSO of the Year ‘05
Fannie Mae, Excellence in Servicing Award
Freddie Mac, Tier One Service Award
FHA, Tier One rating for FHA loans
HUD, Best Practice Award
CU Members Mortgage has received a Tier One Rating for
Excellence in Service from FHA. They have also received a
Five Star Rating from Bauer Financial, the country's
foremost analyst of credit unions.
Whether you are contemplating
entering the real estate mortgage
business or you are presently
providing a mortgage service, CU
Member Mortgage can help grow
that business. They provide more
than 150 different loan products to
credit unions. Some of the more
popular services are a 40 year
mortgage, construction loans, and
sub prime lending.
With CU Members Mortgage, your
credit union determines the level
of involvement in the mortgage
lending process, based on the staff
and resources you have available.
CU Members Mortgage offers
participation levels ranging from
limited to extensive. This structure
affords credit unions with the option of moving to a higher
level of participation if desired. All participation levels are
RESPA compliant.
For more information about CU Members Mortgage please
contact Nancy Darden at (817) 296-7348. You may also
contact Vince Liberto, LCUL Vice President, Sales at (800)
452-7221 ext.3008 or vliberto@lcul.com.
Vince Liberto, Vice President of Sales
14 Fleur de Lis
Northwest FirstCorp Members United First Carolina Louisiana VACORP VolCorp Kansas
How to Gain Share Growth through Business Deposits
Business deposits are part of the core package of services business members need. Louisiana Corporate partners with the
expert staff at CU Business Group to guide you through the process of developing and implementing the package of services
that best fits your program:
Business checking accounts
Business savings and money market accounts
On-line banking and bill pay
Merchant bankcards
Business tax payments
ACH origination
Sweep accounts
On-line cash management
Payroll services
CU Business Group will provide the necessary expertise to evaluate these key areas:
Your core system capabilities – is the system robust enough?
Teller row processes – do you need a merchant window?
New accounts – do you have the right forms and procedures in place?
Volumes – what about businesses with large deposits and high cash/coin usage?
Ultimately, your credit union staff must fully understand these products to best serve the business member. CU Business
Group’s full line of training courses will ensure your staff presents a professional, knowledgeable image to this important new
group of members. We offer a variety of training courses, either in person or in a convenient webinar format:
Business Deposits 101 – The New Accounts Desk
Business Deposits 201 – Deposit Risk Management
Business Services 101 – Effective Interviewing, Asking the Right Questions
Business Services 102 – Merchant Bankcard Basics
Business Services 301 – Reaching New Heights and Best Practices
For more details on our deposit, loan and other services, visit CUBG’s website at http://www.cubg.org
or call Jim Phillips at Louisiana Corporate Credit Union at (225) 603-2642.
Fleur de Lis 15
BRIEFLY SPEAKING
NEIGHBORS FCU OPENS NEW BRANCH
LA DOTD FCU NAMED LOCAL CHAMBER’S
BARKSDALE FCU’S CEO RECEIVES LOCAL
Neighbors FCU opened its newest branch at
Howell Place, a new business park
development off Harding Boulevard near
the Baton Rouge Metropolitan Airport.
Neighbors FCU is located at 7800 Howell
Place Boulevard, across from the greater
Baton Rouge Surgical Hospital. This new
facility features more than 5,300 square
feet of service area, including four drivethru lanes and an additional drive-thru
ATM, safe deposit boxes, coin-counting
machine, children’s play area, private loan
and new account offices and on-line
banking stations are also available to
accommodate members’ needs.
SMALL BUSINESS OF THE YEAR
AWARD
LA DOTD Federal Credit Union has been
named “Small- Business Member of the
Year” by the Greater Denham Springs
Chamber of Commerce. The Chamber,
which serves and supports the business
community of Livingston Parish, honored
LA DOTD FCU at its annual awards dinner
on Jan. 20. During the awards presentation,
the Chamber highlighted LA DOTD FCU’s
substantial involvement and leadership in
Denham Springs and the surrounding
communities. Chamber President Mickey
Seale recognized LA DOTD FCU for its active
membership in several local business groups.
Barksdale Federal
Credit Union’s CEO,
Arno Easterly, received
the Outstanding
Business Person of the
Year for 2006 from the
Bossier Chamber of
Commerce at the
Annual Meeting,
January 23, 2007. The Bossier Chamber
gives this prestigious annual award to
someone who exhibits business and
professional excellence. Arno Easterly has
been president/CEO of Barksdale Federal
Credit Union for 22 years.
BATON ROUGE CREDIT UNIONS SPONSOR
MARDI GRAS FUNDRAISER
A large crowd gathered February 17 at the
Baton Rouge River Center to attend the 100
Black Men of Metro Baton Rouge's Mardi
Gras Gala XIII. The black-tie event, which
benefits the organization's programs,
featured entertainment by The Michael
Foster Project and Nu Beginnings. Local
credit unions included among the sponsors
were La Capitol FCU, East BR Teachers
FCU, and Southern Teachers & Parents FCU.
BAYOU FCU SPONSORS 14TH ANNUAL
FATHER/DAUGHTER SWEETHEART DANCE
AUDREY CERISE RETIRES ASI CEO/PRESIDENT
In conjunction with the Baton Rouge
General Foundation, Bayou Federal Credit
Union sponsored the 14th Annual
Father/Daughter Sweetheart Dance held
February 11, 2007 at the Holiday Inn
Select. Over 700 fathers and daughters
were in attendance. All proceeds benefit
the Cardiovascular Services of the Baton
Rouge General Medical Center. This year
was a great success, with over $19,000
contributed to the cardiac program.
ASI FCU
announces that
Audrey Cerise, its
president and
CEO for the past
27 years, is
retiring as CEO/
President. Under her direction, ASI FCU
has increased membership and asset size
exponentially. She will be serving as chief
executive adviser to the new CEO, Mignhon
Tourne.
16 Fleur de Lis
NEIGHBORS FCU NAMES NEW VP OF
MARKETING
Dewey Richardson, a
20 year veteran of the
advertising, marketing,
and public relations
field, has been hired as
Vice President of
Marketing by Neighbors
Federal Credit Union. Neighbors is the 4th
largest credit unions in Louisiana with
assets over $300 million and a
membership base of over 46,00.
WYMAR FCU GIVES $500,00 BONUS
DIVIDEND
Members of Wymar FCU rang in the new year
with a $500,000 bonus dividend. The $42
million credit union distributed a $250,000
bonus dividend and a $250,000 interest fund.
The bonus represented 69.91% of the
dividends already paid to the members in
2006, while the interest refund represented a
return to members of 16.40% of the interest
paid on their loans last year.
SHELL GEISMAR FCU MOVES TO NEW
CARTER FEDERAL CREDIT UNION WINS
LOCATION
NATIONAL MARKETING AWARD
The Board of Directors and Staff are
excited to announce that Shell Geismar
Federal Credit Union has moved to their
new building located at 38307 Hwy. 30
(corner of Hwy 30 & Ashland Rd.) in
Gonzales.
The Credit Union Executives Society
(CUES) has awarded Carter Federal Credit
Union a Golden Mirror Award of Merit for
their marketing efforts in 2006. Carter
Federal won this prestigious award in the
category of Direct Marketing/Mail Single
for Credit Unions with less than $150 million
in assets. The winning entry was part of the
Carter Federal Credit Union’s “Full Service
Checking” campaign and was judged against
other direct mail pieces submitted by credit
unions with assets totaling under $150 million.
CAMPUS FCU MONEY WISE PROGRAM
HONORS 18 GRADUATES
Campus Federal Credit Union, along with
LSU Human Resource Management, held
an award ceremony honoring graduates
from their Money Wise Financial Education
Program. The ceremony took place on
December 19, 2006and was attended by
special guest NCUA Board Chairman JoAnn
Johnson. Employees are chosen to participate
in this small, hands-on education experience
which covers topics such as basic banking,
budgeting, consumer loans, credit cards, and
owning vs. renting. The curriculum was
developed by
Campus
Federal and is
taught by
Blaine Grimes,
Financial
Education
Coordinator.
LOUISIANA FCU CEO TO SERVE AS ST. JOHN
UNITED WAY TREASURER
The St. John United Way elected new
officers at its annual general membership
meeting Jan. 24 at the Louisiana Federal
Credit Union in Laplace. Among those
elected is Rhonda Hotard, president/CEO
of Louisiana FCU. Hotard will serve as
treasurer.
CREDIT UNION CHANGES NAME TO FIRST
PIONEERS FCU
Lafayette District Telephone CU has officially
changed their name to First Pioneers FCU.
The credit union, located in Lafayette,
Louisiana, was chartered in 1949 and now
has over $21 million dollars in assets.
BARKSDALE FCU OPENS NEW LOCATION
Barksdale FCU is proud to announce the
opening of their newest location. The new
branch is located at 9134 Mansfield Road
in Shreveport, LA, where a ribbon cutting
ceremony took place. In addition to a number
of Chamber dignitaries, the ceremony was
attended by State Representatives Wayne
Waddell, Sherri Cheek, and Billy
Montgomery.
få MEMORY
Former Louisiana Financial Institutions
(LOFI)Deputy Commissioner Doris
Gunn passed away Wednesday,
February 28 after a courageous battle
with cancer. Doris joined the Office of
Financial Institutions in 1982 as a field
examiner. From there, her career
progressed to become the chief
examiner of savings and loans and
credit unions, and then the chief
examiner of banks. She served as
deputy commissioner for the past 14
years and as acting commissioner for
one-and-a-half of those years. The State
Civil Service System also recognized
Gunn twice when she was Honorable
Mention for the Charles E. Dunbar, Jr.,
Award. She was also a NASCUS Board
member for four years, two of those on
the executive committee. Doris was a
frequent speaker at Louisiana Credit
Union League conferences and will be
dearly missed by all who knew her.
Fleur de Lis 17