December 29, 2008


First deadline due today for two NCUA programs that increase interest earnings

Credit unions have until the end of today to apply for funds as part of two NCUA programs that aim to increase interest earnings and shore up liquidity in the Corporate System. Read more…

The League offices will be closed Jan. 1

League offices will be closed on Jan. 1. The offices will re-open on Friday, Jan. 2, with the regular hours of 8 a.m. to 5 p.m.
 



REAL Solutions

Free Tax Preparation Assistance resources and materials offered on EITC website
Access group discounts, products and resources to help with your credit unions’ participation at a Free Tax Preparation Assistance site by registering for free membership at the Earned Income Tax Credit website. The website includes training for volunteers who check the accuracy of returns before filing. Those who complete the training meet IRS requirements to be an on-site quality reviewer.


Let your members know how they can get their tax refund, fast and for free, via direct deposit

Every one of Wisconsin's 2.2 million credit union members can save money during the 2009 tax season by using his or her savings account for direct deposit of a tax refund. Tell your members how by linking to www.freetaxrefund.org in January. The site explains how filers can use an existing account (or open one) to use direct deposit whether they file online, using software on their home computer or by visiting any one of the 231 free tax preparation assistance sites around the state where credit union volunteers help to facilitate direct deposit.

Survey provides insights on Hispanics’ attitudes on their finances
A recent survey found that Hispanics, who have been reported to have a distrust of financial institutions, feel more financially secure than in the past. The survey provides important insight into Hispanics’ attitudes and behaviors about finances that can help credit unions better serve this growing market. Read more…


German finance students learn about Sheboygan area CUs during recent visit

Several Sheboygan area credit unions had a chance to show some visiting German finance students how their credit unions work as part of an exchange program through Lakeshore Technical College. Read more...

 


Government Affairs
Don’t forget to send in your CULAC Permission Agreements
To be eligible to participate in the Payroll Deduction Program or contribute to the Credit Union Legislative Action Council (CULAC), credit unions must return their signed permission agreement by Jan. 1. For more information, contact Crystal Kopydlowski, Administrative Assistant-Government Affairs, at (800) 242-0833, Ext. 6014.

2009 State GAC provides opportunities to educate newly elected lawmakers about credit unions
Make sure the voices of the 2.2 million credit union members in Wisconsin are heard by attending the 2009 Government Affairs Conference, Jan.20-21, at the Hilton Monona Terrace in Madison. The Conference will be credit unions’ first chance to build relationships with newly elected and re-elected lawmakers, and will serve as the perfect opportunity to educate these key decision makers.
 



Compliance

The League’s 2008 Year in Review: Part 3 of 3
In 2008, The League’s Compliance services helped to minimize credit unions’ exposure to legal liability, while helping to better prepare them for visits by regulators. Read more...


2009 escrow account interest rate set at 0.75%

The Wisconsin Department of Financial Institutions has published a notice that sets the 2009 mandatory interest rate on required escrow accounts at 0.75%. Read more…

2009 IRS Standard Mileage rates announced

Beginning January 1, 2009, the standard mileage rates for the use of a car (including vans, pickups or panel trucks) will be 55 cents per mile for business miles driven. That’s a decrease from the 58.5 cents rate that has been in effect for the last six months of 2008, which was set by a special adjustment mid-year in response to a spike in gasoline prices. Read more…

 



Education & Training
New in 2009, small credit unions to receive two complimentary Keys to Compliance webinar sessions
New this year, credit unions with $20 million or less in assets will receive two complimentary sessions of the 2009 Keys to Compliance webinar series, the first of which will be held on Account Documentation – Single, Joint, Marital & UTMA Accounts on Jan. 13. This webinar will teach you how to properly document new accounts, as well as marital and minor accounts and will also provide information on regulations including the Customer Identification Program. The League's Keys to Compliance 2009 Webinar Series provides an overview of essential compliance and employment law issues that affect credit union operations and human resources. The series covers many state and federal laws, emphasizing practical solutions and common legal issues.
To make these webinars even more convenient, each session will be archived for up to 90 days after the session’s date.
 



League News
Redesigned League News to launch in January
The League News will be getting a face lift, as well as several new features in January when The League launches its redesigned newsletter. The new League News, which will change from a weekly publishing schedule to twice-monthly, will still provide readers with valuable information about the credit union movement, but will also include a variety of new content including videos. Watch for the first issue to publish in early January.

Save the date! Attend an open house at The League’s newly renovated Pewaukee office on Feb. 17

The League will hold an open house from 3:30 to 6:30 p.m. Tues., Feb. 17 at its newly renovated Pewaukee office. Stayed tuned for more information in the coming weeks!

Become a Founder’s Circle member and help the Foundation provide educational scholarships
By becoming a member of the Founder’s Circle, your contribution will strengthen The Wisconsin Credit Union Foundation and help it to support educational scholarships and disaster relief. To become a Founder’s Circle member, make a contribution by Feb. 28, 2009. The Founder’s Circle recognizes individual, corporate and credit union donors (the latter by asset size) for gifts ranging from $250 to $25,000 – making it accessible for everyone. And since The Foundation is a 501(c)(3) not-for-profit entity, donations are tax deductible. The Foundation supports credit union development, education of credit union staff and volunteers, financial literacy efforts and the credit union system in times of need.

Campaign makes Oakdale CU’s members its spokespeople

When Oakdale Credit Union wanted to promote the credit union as a whole it found a solution in The League Marketing Agency’s marketing campaign, The Credit Union StoryTM. Read more...

 



System News

Hearing set in lawsuit on OCU’s agreement on Educators CU’s auto sales
The Wisconsin Automobile and Truck Dealers Association has petitioned the Dane County Circuit Court in an attempt to overturn an agreement made by the Office of Credit Unions with Educators Credit Union on its auto sales business. The agreement gave Educators Credit Union 18 months to divest its auto sales business unless a state law regulating vehicle sales by credit unions is changed before then. A hearing on the lawsuit has been set for Jan. 16. Read more…

Credit unions asked to complete CUNA Annual Survey

Watch for CUNA’s Annual Survey, which will be mailed to credit unions in early January. The survey helps to track new trends in credit union service offerings not covered by the NCUA 5300 and will help CUNA answer questions from the public, government agencies and elected officials. This year a question has been added on back office services that will enable CUNA to help credit unions find more sources on the topic. Credit unions can also complete the survey on the Internet. The survey should take under 15 minutes to complete. If you have any questions about the survey please contact Marc Shafroth at (608) 231-4182.

Go Direct recognizes credit unions for promoting direct deposit
The U.S. Department of Treasury has announced a new program called Go Direct that recognizes financial institutions that promote the use of direct deposit to senior citizens, people with disabilities, veterans and other members who receive federal benefits. The
Go Direct Community Ambassadors Program will launch in January and will run for six months. Participants will receive a letter of recognition and certificate from Go Direct. Participating credit unions will also have access to free Go Direct materials explaining the benefits of direct deposit to their members.
 


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Product Solutions Center

Check out our endorsed service providers:
Advanced Fraud Solutions   
The Alliance One Network
Central States Mortgage
Corporate Central Credit Union
Credit Union National Association
CUDL
CUNA Mutual Group (CMG)
CUNA Strategic Services
Fidelity National Information Services
First Data/STAR Systems
ICUL Services Corp.
HR Performance Management Training
League Forms and Supply
League Marketing Agency

PAYCHEX
PULSE-EFT Association
The LoanLink Center
TransUnion LLC
Wisconsin CU Shared Service Center
Wisconsin Health Alliance

Worldwide Interactive Services

   

Is your credit union stuck in stone-age of check processing?  It’s time to evolve to Image Cash Letter – Check 21. Corporate Central Credit Union has put together a complete package to handle all your image presentment needs, along with a solution to handle all your items that are not-image eligible.  Read more…
 


Leading financial institutions rely on STAR/First Data for complete ATM and debit card services. The STAR® Network provides financial institutions with the services they need to offer secure, expansive account access to your cardholders. Read more…

Trainings Offered By The League
 

Quick Bite: 10 Commandments of Career Success
TeleCourse: Reg CC
Quick Bite: 3rd Party Due Diligence

Keys to Compliance Webinar: Account Documentation - Single, Joint, Marital & UTMA Accounts
2009 Government Affairs Conference
Quick Bite: Hands on Business Development


View Full Calendar


Check out our
Director Training & CUNA's Correspondence Programs

Upcoming Events

Don't miss the Keys to Compliance Webinar: Account Documentation - Single, Joint, Marital & UTMA Accounts, Jan. 13

Join us at The League's 2009 State Government Affairs Conference, Jan. 20-21

Attend the 2009 CUNA Governmental Affairs Conference, Feb. 22-26

 

The Latest from CUNA
Survey - CUs are still the free checking leaders

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Questions or comments regarding this newsletter? Please contact Melissa Wittig at (800) 242-0833, Ext. 6045. Email change? Please contact Judy Phillips at (800) 242-0833, Ext. 6020.