MWCUA M@W Q1 2015
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The document provides highlights from the 1st quarter of 2015, including: - Nearly 5,000 credit union leaders attended CUNA's 2015 Governmental Affairs Conference in Washington D.C. - Tony Budet of University Federal Credit Union introduced CUNA's Member Activation Program to increase advocacy effectiveness. - Dan Kester of Sooper Credit Union was inducted into the Credit Union House Hall of Leaders in recognition of his leadership. - Regulatory relief for small institutions is a theme in Congress in the early part of 2015, with CUNA continuing to advocate for relief proposals.
MWCUA M@W Q1 2015
- 1. 1st Quarter, 2015 Report Governmental Affairs Conference Highlights Nearly 5,000 credit union leaders and activists ventured to Washington, D.C. to attend CUNA’s 2015 Governmental Affairs Conference (GAC). It was a great week and the highlights included: • Jim Nussle, kicking off the conference with a call to action with a CUNA-led 360-degree focused approach on advocacy. Watch his opening session speech here. • Tony Budet, CEO, University Federal Credit Union, Austin, Texas, introducing the Member Activation Program (MAP) that will dramatically increase advocacy effectiveness. • Honored 57 credit union award winners, in the areas of credit union philosophy, social responsibility, and service and dedication to financial education and literacy. • CUNA-League credit union leaders blanketed Capitol Hill, visiting nearly all congressional offices. Those are just a few highlights. CUNA and the Mountain West Credit Union Association are already looking forward to the 2016 GAC Feb. 21-25, 2016, in Washington, D.C. www.mwcua.com @work membership membership@work | cuna.org 1
- 2. 1st Quarter, 2015 Report Sooper’s Kester named to Hall of Leaders Sooper Credit Union President/ CEO, Dan Kester, has been inducted to the Credit Union House Hall of Leaders in Washington, D.C. The Credit Union House Hall of Leaders provides lasting recognition for credit union leaders whose commitment has made a significant impact on the credit union movement at the local, state, or national level. Mr. Kester was nominated in recognition of his demonstrated leadership, tireless enthusiasm, unfettered commitment to the credit union movement, exemplary leadership, and dedication he has provided while serving America’s credit unions. “It is an honor to be inducted into the Hall of Leaders. I’m fortunate to work with a great team at Sooper,” said Mr. Kester. Prior to joining Sooper Credit Union in 1996, he was CEO of Foothills Credit Union. He has volunteered for a variety of credit union organizations including the Colorado Credit Union League, Credit Union Association of Colorado (CUAC), and the National Association of State Credit Union Supervisors (NASCUS). He served on the boards of these and other organizations and was honored as the first recipient of the “Dan Kester Advocacy Award” by the MWCUA. www.mwcua.com Tony Budet, CEO of University Federal Credit Union, Austin, Texas, highlighted the CUNA-League Member Activation Program (MAP). Tony shared his experience with the program, which started when CUNA partnered with credit unions on an extensive research project to better understand the impact of advocacy-related communications. In 2014, in a study involving 70,000 credit union members, CUNA found that advocacy communications not only succeed in activating credit union members, but also increase members’ loyalty bond with their credit union. MAP Benefits • Members who receive advocacy outreach from their credit union have a stronger bond with those institutions • 82% of members are ready to do more business with their credit union after exposure to advocacy messaging that defines and reminds members about the differences between credit unions and Wall Street banks • The goals of generating grassroots contacts go hand-in-hand with increasing member loyalty and growing wallet share for credit unions • MAP was a key component during the Don’t Tax My Credit Union campaign in 2013-2014 When credit unions sign up, they’ll begin receiving content to provide to their membership. This will include materials requesting members to act, while others will serve to educate and raise awareness. Since GAC, the number of credit unions participating in MAP have doubled with over 100 credit unions representing more than 6.5 million credit union members participating in the program. To learn more about MAP, ask questions, or sign up, visit www.cuna.org/map. Member Activation Program membership@work | cuna.org 2
- 3. 1st Quarter, 2015 Reportwww.mwcua.com Member Resource: Small CUs Need Five to Thrive…and Survive Small credit unions face challenges unlike other credit unions, and those challenges are continually growing and making it more difficult to survive in the ever-changing world of regulations and compliance. CUNA recognizes these challenges, and recently published a white paper covering five strategies to help small credit unions not just survive but thrive. The report covers each prevalent issue in-depth, providing best business practices, how-to suggestions, as well as specific case studies of small credit unions that have successfully implemented these strategies. This white paper is provided as a benefit of membership in the CUNA-League system, and can be downloaded here. CUNA and Leagues Continue to Press for CU Data Breach Reimbursement Credit unions are still waiting to be paid for their losses due to the major data breaches that have happened during the past 15 months. CUNA has no intention of giving up the fight to increase data security, and get credit unions paid back for their losses due to breaches like Target and Home Depot. To take action and stop the breaches, visit www.stopthedatabreaches.com. CUNA and the Mountain West Credit Union Association are pushing data security legislation, with other financial services trade associations, to raise the standards for all and include liability provisions that would pay back credit unions in a timely manner. FIVE TO THRIVE A Strategic Guide for Small CUs A white paper sponsored by the CUNA Small Credit Union Committee February 2015 cuna.org/smallcu iStock Leadership Devel- opment Program Leadership development and succession planning have long been a challenge for credit unions across the country. The Mountain West Credit Union Foundation’s Executive Leadership Program was created to find and develop the future leaders of the credit union movement. The program is a five-year curriculum that includes developing leader skills, operational training, and learning “the credit union way.” The program’s goals are to develop leaders specifically for the credit union industry. Learn more about this exclusive program and how to nominate a candidate at www.mwcua.com/ foundation. Foundation Golf Tournament Update Thanks to our sponsors and players who participated in this year’s Annual Foundation Golf Tournament held in conjunction with the Annual Meeting and Convention in Phoenix, Arizona. It was a huge success and the second largest golf fundraiser event we have had in our history. We netted over $41,000 which will help fund future Foundation projects. One hundred and fifty-one players enjoyed perfect weather and won more than 35 cash prizes worth over $2600. What a great way to kick off Annual Convention. membership@work | cuna.org 3
- 4. 1st Quarter, 2015 Reportwww.mwcua.com Insert League photo here The 114th Congress… in Like a Lion The first quarter of 2015 has been a busy one for CUNA’s advocacy team; • Testifying before both houses of Congress; • Introducing over a dozen pieces of legislation that could provide credit unions with regulatory relief; • Having nearly 5,000 GAC attendees hike Capitol Hill; and • Passing nine bills related to regulatory relief for financial institutions out of the House Financial Services Committee. The 114th Congress has definitely heard from credit unions. In February, the Senate Banking Committee held its first two hearings of the new Congress – both focused on regulatory relief for community financial institutions. The first hearing featured depository institution regulators, including the NCUA. The second hearing featured representatives from community financial institutions. Wally Murray, President and CEO of Greater Nevada Credit Union, testified on CUNA’s behalf. CUNA’s testimony included more than two dozen recommendations for statutory changes Congress should make. A few of those changes include: extending access to supplementary capital to credit unions; enhancing credit unions’ ability to lend to their small business members; updating the Federal Credit Union Act; and enacting legislation to stop merchant data breaches. In March, CUNA witness Patrick Miller, CEO of CBC Federal Credit Union of Oxnard, Calif., testified at a similar hearing before the House Financial Services Committee. Miller’s testimony focused on many of the same issues that Murray’s did, and also included personal stories of regulatory burden from CUNA member credit unions. CUNA made important progress for credit unions on several fronts. Most notably, the House Financial Services Committee, chaired by Rep. Jeb Hensarling (R-Texas), marked up and passed nine bills related to regulatory relief for financial institutions - several of which were passed by the House in the last Congress. CUNA and the leagues appreciate Chairman Hensarling’s leadership in bringing these bills up so early in this session and garnering bipartisan support for a majority of these regulatory relief bills. Regulatory relief for small institutions continues to be a theme with this Congress, not only as the subject of hearings, but also legislation. Over a dozen pieces of legislation which could provide credit unions with regulatory relief have been introduced. For more information on these bills, visit http://cuna.org/Legislative- And-Regulatory-Advocacy/. Congress’ acute focus on regulatory relief this early in its session is promising. CUNA continues to develop regulatory relief proposals that will provide meaningful changes for credit unions. MWCUA Legislative Update After a busy first four months of 2015, legislative work at our three state capitals is winding down for the year. The Wyoming and Arizona Legislatures have already concluded for the year. Wyoming adjourned on March 6 and Arizona on April 3. Colorado is scheduled to adjourn May 6. Throughout the three sessions, the Association tracked hundreds of bills and we had key legislative victories in each state. In Colorado, a highly controversial interchange bill was introduced that would have prevented an interchange fee to be charged on the sales tax portion of a transaction. After a strong, MWCUA-led grassroots opposition by our credit unions, the bill was turned into a study on the issue. The study was heavily biased toward merchants and the Association continued its opposition and defeated the proposal by a vote of 2-9. In Wyoming, the Association supported a public funds bill that would have allowed public entities to place public deposits in credit unions if they did not a have a bank within 10 miles. The bill successfully moved through the Wyoming House of Representative and passed out of a Senate Committee. However, due to session deadlines, the bill did not receive a final vote in the Senate. In Arizona, the Association had some key successes in opposing legislation that would bring an industry similar to payday lending into the state. In addition, we added amendments to transportation network company legislation to help protect lien holders. membership@work | cuna.org 4
- 5. 1st Quarter, 2015 Reportwww.mwcua.com Regulatory Advocacy: Keeping a Steady Dialogue The regulatory advocacy team at CUNA remains busy on behalf of credit unions across the country, as it continues to stay in touch with regulators. In the first quarter, CUNA’s advocacy team sent 11 comment letters to the CFPB, FASB, and the NCUA on a variety of topics. RBC2 - Member’s Only Toolkit Updates New resources for RBC2 are now available on CUNA’s Risk-Based Capital Action Center for all member credit unions. These new tools include a list of credit unions with RBC ratio estimates, a comment letter guide, and a risk- based calculator. “The estimator auto-populates each credit union’s data using conservative assumptions that mirror those NCUA uses,” said Mike Schenk, CUNA vice president of economics and statistics. “The credit union is thus relieved from the lengthy process of inputting detailed call report data. But once the auto-population occurs, they can conduct what-if analyses by manually changing the assumed data allocations.” CUNA and the Mountain West Credit Union Association continue to communicate with the NCUA on the proposed rule, and look forward to the continued dialogue as the comment letters stream in before the April 27, 2015, deadline. Making CFPB’s Credit Union Council Permanent Last year, the CFPB announced full meetings conducted by the Credit Union Advisory Council and other boards would be open to the public, which enabled CUNA to be there to protect and advocate for credit union interests. CUNA appreciates CFPB’s decision to allow greater transparency and is currently pushing legislation (H.R. 1265) that would make this a requirement rather than a courtesy. In February, CUNA President/CEO, Jim Nussle sent CFPB Director Richard Cordray a letter endorsing 15 credit union representatives to the CFPB’s Consumer Advisory Board (CAB) and/or Credit Union Advisory Council (CUAC). “Credit union representation at the Bureau is a key component to ensuring the unique perspective of credit unions’ is not only heard, but also taken into consideration as a part of any and all rulemakings affecting credit unions,” Nussle stated in the letter. Nussle also said he’s “confident that with their contributions, the CAB and CUAC will accurately understand the need for protections for consumers in the financial marketplace while at the same time understanding the need to avoid burdening entities such as credit unions that already work hard to ensure their members are well served.” The CUAC advises the Bureau on the impact on credit unions of the CFPB’s existing and proposed regulations, and the CAB informs the Bureau on emerging practices and trends in the consumer finance industry. Association staff met personally with NCUA’s Region V senior staff including the Regional Director, the Associate Regional Director and two Supervisory Examiners. In addition, we met with two Supervisory Examiners from Region IV. We discussed improvements to the examination process including greater consistency, improved communications, more efficient use of time, better examiner training, and an improved appeals process. In February, we hosted the first compliance networking session of the year. This session brought together credit unions from all three states and provided them with an opportunity to discuss current compliance issues and solutions with their credit union peers and Association staff. Photo: The Association hosted a roundtable discussion with Mark McWatters, NCUA’s most recently appointed board member. McWatters meeting caps Regulatory Affairs update membership@work | cuna.org 5
- 6. 1st Quarter, 2015 Reportwww.mwcua.com Credit Union House Hall of Leaders Induction Credit Union House on Capitol Hill, which is owned by all 40 Leagues including Mountain West Credit Union Association, logged nearly 700 credit union visitors in five days during the GAC, including Sen. Lisa Murkowski of Alaska. Credit Union House also inducted 12 credit union leaders and volunteers into the Hall of Leaders. Members of the Hall of Leaders have shown commitment inspiring others in the credit union movement. Their names are a permanent reminder of the strong credit union movement, and the values and mission on which credit unions were founded. If your credit union would like to recognize the outstanding contribution of a CEO, staff or volunteer, learn more about the Hall of Leaders, or to nominate an exceptional credit union leader, visit www.cuhouse.com/hall-of-leaders.php Compliance Corner CUNA’s compliance team continues to make your job easier in 2015, and here’s an update: • CompBlog has seen a steady stream of information, and already has over 150 blog posts. • The team hosted a compliance networking session at GAC, bringing together compliance professionals from across the country to discuss current compliance challenges and concerns. • Anatomy of a Regulation: How to Read and Understand a Federal Regulation, which goes through several components of a regulation to assist in commenting on proposals and complying with final rules, was recorded and is available through CPDOnline. Learn more here. • Three new CompNOTES were issued. They describe the compliance requirements for the new integrated mortgage disclosures going into effect Aug. 1, 2015, covering the Loan Estimate, The Closing Disclosure, and the Escrow Closing Disclosure. Read here. At the MWCUA Annual Meeting and Convention, awards for Volunteer and Professional of the Year were presented at a special luncheon. Robert D. Ramirez, president and CEO of Vantage West Credit Union in Tucson, Arizona, was named the 2014 Credit Union Professional of the Year. Mr. Ramirez was tirelessly dedicated to serving as chairman of the MWCUA board of directors and remains on the board even after his tenure as chairman ended. His service includes work within the credit union community and his local community, giving time and energy to matters that are vitally important to the community’s well-being. Dick Adamson, retired board member for White Crown Federal Credit Union, was named the 2014 Volunteer of the Year. Mr. Adamson served the credit union movement for over 38 years. He began his tenure as a board member in 1995. In November 2014, the White Crown Federal Credit Union Board of Directors honored him with Emeritus Board Member status for his service. A 21-year veteran of the U.S. Navy, he is a firm believer in the credit union principle of “People Helping People.” It has been embodied in his life and career. When asked about hobbies – he said “His work was his hobby, and his hobby was his work.” CU Professional, Volunteer Awards membership@work | cuna.org 6
- 7. 1st Quarter, 2015 Report Annual Meeting Recap From the highly successful Foundation Golf Tournament (p. 3), to the vendor hall, to great speakers and breakout sessions, to awards and honors, there was much to experience and learn at the Mountain West Credit Union Association’s Annual Meeting and Convention at the Biltmore Hotel in Phoenix, Arizona last month. More than 500 conference attendees representing 53 credit unions from across the Association’s tri-state trade area participated in the three-day event. This year’s meeting and convention offered breakout sessions highlighting the latest industry trends including technology, cyber-security, big data, advocacy, and more. The keynote speakers were Todd Henry and John Lauck. Henry presented on the topic of “Passion, Collaboration and Impact.” He helped the audience understand practices and systems that lead to everyday brilliance. Lauck, President and CEO of Children’s Miracle Network Hospitals, closed the conference by delivering the keynote at the annual CU4Kids Breakfast, highlighting the partnership between credit unions and Children’s Miracle Network Hospitals. MWCUA, Landings CU win PR Award At last month’s Blockbuster Awards, presented by CUNA, Patti Hazlett, MWCUA’s director of corporate communications, received one of the industry’s top awards for her public relations work on behalf of a member credit union. Hazlett’s work with Landings Credit Union, publicizing the credit union’s very successful micro loan program, earned highly desirable trade media placement for the credit union. The project was recognized as the Best Public Relations Campaign. Global Women’s Leadership highlights The Mountain West Credit Union Association welcomed the World Council of Credit Union’s Global Women’s Leadership Network at the Association’s annual meeting. There was incredible turnout with women leaders from across Colorado, Arizona and Wyoming. Brandi Stankovic, Senior Partner at Mitchell Stankovic and Associates was the keynote for the session. She led the group in interactive dialogue and discussion regarding people, the MOST VALUABLE PEOPLE, specifically how to be an MVP and how to inspire the MVPs in your life. In business, we refer to MVPs as our top performers; male and female leaders who have that magic stuff or mojo that drives them to achieve success; the ones who impact the bottom line or who can turn around a low-performing team and help them achieve their goals and exceed their targets. During the session, Brandi shared the efforts of the World Council of Credit Union’s, Global Women’s Leadership Network that strives to provide women with the opportunity and resources to make measurable differences in each other’s lives, as well as in the lives of credit union members, and in their communities. Photo HIGHLIGHTS from MWCUA Annual Meeting www.LeagueWebsite.org membership@work | cuna.org 7 Clockwise: 1) We celebrated another successful Foundation Golf Tournament; 2 3) confer- ence attendees spent quality time in the vendor hall; and 4) we honored award winners.
- 8. 1st Quarter, 2015 Report @work membership For more information on CUNA-League Membership, please contact Jaquetta Ward, jward@mwcua.com or Jeff Carpenter, CUNA VP of Membership Development at jcarpenter@cuna.coop www.mwcua.com Uchida named chair of Association Board The MWCUA elected its 2015-2016 board of directors officers at the Annual Meeting and Convention in Phoenix. “The MWCUA is dedicated to strong advocacy efforts, providing resources, and delivering support and training to our members,” said Scott Earl, MWCUA CEO. “The dedication and leadership of our board helps us achieve those goals and help our member credit unions succeed.” John Uchida, President of Space Age Federal Credit Union in Aurora, Colorado will serve as the board chairman. Jim Yates, President of First Education Federal Credit Union in Cheyenne, Wyoming, will serve as vice-chairman; Walt Marx, President and CEO of Northern Colorado Credit Union in Greeley, Colorado, will serve as secretary; and Colleen Curtis, President and CEO of Southwest Healthcare Credit Union in Phoenix, Arizona, will serve as treasurer. ACPE Federal Credit Union, Laramie Plains Community Federal Credit Union, and UniWyo Federal Credit Union joined together to make sure the 2015 Unite for Good Food Drive was a success. Community donations make a significant contribution to this program that serves almost 100 students every week. This year’s food drive allows enough to fill over 750 backpacks for in-need Albany County students. . Of Interest • To help credit unions make their fee decisions easier, CUNA’s 2015 Fees Report - reflecting input from more than 1,300 credit unions on their fee structure for various products and services - is now available. • CUNA has tracked 1,100 bills moving through state legislatures across the country to monitor their impact on credit unions. CUNA and the Mountain West Credit Union Association work together on state legislative advocacy to avert tax threats, improve state credit union acts, and ensure that new laws on data security, patent regulation and other issues support credit unions’ operating environment. • 12,674 credit union staff and volunteers completed nearly 118,000 CUNA learning activities on CPD Online. • 861 individuals registered for the members-only free Risk Based Capital webinar. Of that number, 661 attended live and the remainder will take advantage of the archived webinar. • FiCEP is off to a strong start: with 1,585 modules sold as credit union staff prepare to participate in early year programs. These programs will allow approximately 150 students to become Certified CU Financial Counselors through the Real Solutions program. BusinessNoninterest-bearingInterest-bearing $1,000+500-1,000200-500100-20050-10020-5010-20$0-10 58% 81% 68% 70% 82% 65% 61% 83% 61% 59% 83% 57% 67% 94% 47% 48% 80% 33% 33% 87% 38% 56% 92% 40% Asset size ($ millions) L-R: Kelly Newcomer, UniWyo FCU; Tyler Valentine, Laramie Plains FCU; Julie Schmidt, Laramie Plains FCU; Katie Gooch, UniWyo FCU; Marcia Dent, ACPE FCU; Chris Bretones, ACPE FCU. Wyoming CUs Unite for Good membership@work | cuna.org 8