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aSmarterChoice reveals in 34 seconds the financial benefits of credit union membership. This is just one of the many ways www.asmarterchoice.org is getting the word out about the value of credit union membership. See our related article for an update on the consumer website that helps connect consumers with a local credit union they are eligible to join.

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July 1, 2011

Fed issues improved final Interchange rule
Due in large part to the 11,000 comment letters - more than half of them from credit unions - and the work of CUNA and state leagues, the Federal Reserve Board made significant changes to the proposed Interchange rule issued earlier. The final rule is much better for credit unions than the original proposed rule. CUNA has prepared its initial summary, but a more thorough analysis of the final rule, which is lengthy, will be forthcoming soon. FULL STORY

NCUA to allow pre-paid assessments if required participation is achieved
The NCUA Board voted on Wednesday, June 29, to go forward with its program to allow federally insured credit unions to pre-pay some of their Temporary Corporate Credit Union Stabilization Fund assessments, provided there is adequate participation in the program by credit unions. FULL STORY

Conversion language passed with state budget bill
When Governor Scott Walker signed the state budget into law on June 26, he did not veto the credit union conversion language that had been included by the Wisconsin Bankers Association. The non-budgetary financial institution chartering policy permits direct conversion of a member-owned credit union into a stockholder-owned bank. FULL STORY

Compliance Compass: Are you ready for July 21?
In the latest Compliance Compass column, Paul Guttormsson, The League's Legal Counsel, talks about upcoming changes related to the Dodd-Frank Wall Street Reform and Consumer Protection Act. FULL STORY

League's ii Transmittal Sheets & ii Release updates go paperless in July
The end-of-June ii Transmittal Sheet and ii Release updates will mark the end of paper releases as The League transitions to paperless ii Releases in July. FULL STORY

Investor Education in Your Workplace™ continues to grow
While the Investor Education in Your Workplace™ program has had a few name changes since it was first introduced in Wisconsin as the REAL Progress & Pathways to Prosperity (RP3) program, it continues to grow and expand, providing investment education across three states. In just under 24 months, the program has provided 66,575 hours of investment education to over 7,000 participants located in Wisconsin, North Carolina and Pennsylvania. FULL STORY

Fall strategic planning & budgeting are just around the corner
Summer may be a time for vacations and relaxing by the pool, but it's also the perfect time to begin preparing for fall strategic planning and budgeting. FULL STORY

DFI schedules listening sessions in July on credit union issues
The Wisconsin Department of Financial Institutions (DFI) has scheduled during the month of July four credit union roundtable listening sessions around the state in an effort to share ideas and discuss topics important to credit unions. FULL STORY

Have fun and raise money for a good cause at The League Invitational
Enjoy a day of golf and help raise money for the Wisconsin Credit Union Foundation by participating in The League Invitational on July 28. FULL STORY

2011-'12 League Committee & Council members announced
Members of The League's 1 with The League Council, Services Council, Young Professionals Council and Government Affairs Committee for 2011-'12 have been announced. Updated committee and council lists can be found on The League's Leadership page. The League sincerely thanks the dedicated credit union professionals who serve the movement as part of these advisory groups.

Consumer website continues to see steady growth in visits
More than 1,200 consumers looking for more information about credit unions - and how they might join one - have visited the new consumer website - www.asmarterchoice.org - since it was unveiled earlier this year. FULL STORY

Mortgage Lending webinar series offers insight into what members want
Credit unions can learn about what their members are looking for in a mortgage lender during a FREE webinar on July 13. The webinar is part of an ongoing series on Mortgage Lending. For just $189 for each webinar, credit unions can learn more about rehabilitation financing and the future of mortgage lending during webinars on Aug. 24 and Nov. 16, respectively. For added convenience, all webinars will be recorded and available for purchase via an On-Demand Web Link. The link will be active for up to six months from the live session.

Credit Union News


League fall education sessions cover a wide variety of important topics
The League's fall education schedule is filled with opportunities to enhance your leadership skills, compliance comprehension, marketing prowess and human resources knowledge. FULL STORY

Cool off with hot savings from Lasertec and The W.C.U.L. Services Corp.
A few Wisconsin credit unions have already saved thousands of dollars on their statement costs!  Imagine how much money we can save you on your statement printing costs. FULL STORY

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

Share your input in The League's annual Salary Survey
Credit unions are being asked to complete by July 21 The League's Annual Salary & Compensation Survey. The survey was mailed to presidents and human resource contacts for Wisconsin credit unions over $1 million in assets. The data you provide will help us to compile important information about the going rate of pay and type of benefits offered to staff at all levels of credit union operation. Credit unions that fill out and return a survey receive, at no cost, a copy of the final report - a valuable tool when evaluating or structuring an employee compensation or benefits package. Those who do not participate can purchase the final report for $100. The final report will be mailed to participating credit unions in mid-September.

IRS increases mileage rate to 55.5 cents per mile for the remainder of 2011
Beginning July 1, the standard mileage rate for the use of a car (including vans, pickups or panel trucks) will be 55.5 cents per mile for business miles driven. The adjustment, which is an increase of 4.5 cents from the 51 cent rate in effect for the first six months of 2011, was made to reflect rising gas prices. FULL STORY

Support WOCCU through bids via online charity auction
Beginning July 11, the World Council of Credit Unions (WOCCU) will auction off a number of items donated by credit unions and leagues to raise money in support of its many programs. The League has donated two tickets to the Sept. 24 Wisconsin Badgers game vs. North Dakota, $150 gift card to American Players Theater in Spring Green and a $100 gift card to Johnny Delmonico's Restaurant. Please help support WOCCU's fine programs - including its International Partnerships program (which The League actively participates in) - by bidding on items in the auction. The auction runs through July 26. FULL STORY

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League News is a publication of The Wisconsin Credit Union League © 2009

Wisconsin Credit Union League
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Phone: (262) 549-0200 or (800) 242-0833