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June 14, 2013

CU tax status is on the table as part of tax reform

Credit unions' tax status is on the table as part of federal tax reforms. This threatens to eliminate the $8 billion in annual savings and community support that CUs provide to U.S. consumers. This video explains why CUNA is calling for millions of contacts to Congress. Use The League's resources and urge your board, staff and members to take action at www.DontTaxMyCreditUnion.org.

Senate Finance Committee cites CUs for possible tax status elimination
Credit unions' tax exemption is included among other possible tax preferences that might be considered for elimination as part of a Senate Finance Committee "tax options" paper released Thursday. CUNA called the paper a "wake up call for action" and urges every credit union to engage their staff, directors and members in contacting Congress with the message, "Don't Tax My Credit Union!" CUNA has stated that millions of contacts to Congress may be needed to preserve the CU tax status that returns $8 billion annually to American consumers. FULL STORY
Weigh in to advance study on credit union regulatory burden
The Filene Research Institute and Credit Union Central of Canada are seeking credit union input for a study that will quantify the effects of regulatory burden on credit unions of various asset sizes. It's an attempt to identify some of the most burdensome regulations and the hardships they pose, particularly for smaller institutions. Respond to a survey by June 21.

There was .com, then .coop. Next, there could be .creditunion
Complete a short CUNA survey to help guide CUNA in making a new top level Internet domain available to the credit union system. The new extension, along with others like .bank and .insure, could become available in early 2014, in part thanks to funding assistance from CUNA Mutual Group and CO-OP Financial Services. The survey will allow your credit union to, on a preliminary, nonbinding basis, indicate the specific web addresses of interest, (i.e.,CommunityCU.creditunion). FULL STORY

...because a united system achieves more!
Credit unions like yours that are part of the CUNA-League system have a massive support structure behind them. The success we achieve as a united movement is chronicled in our Membership Matters series. The latest update from CUNA highlights some of its many achievements working with leagues and credit unions during the first quarter of 2013. Use this checklist to ensure you're taking advantage of the many resources that CUNA offers member-credit unions throughout the year.

YP boot camps scheduled: harness the potential of young CU leaders
If you're a young professional (age 35 or younger) or someone who supervises one, take note of The League's upcoming YP Boot Camps. These day-long trainings introduce YPs to lessons on topics such as leadership, ideation and credit union strategy. Boot Camps not only provide professional development and networking, but also introduce YPs to new ideas and resources they can bring back to benefit their credit union. FULL STORY

Unite for Good: serving people is its own reward
Fostering service excellence is one of the key action areas for our movement's national campaign for credit union growth, Unite for Good. In a recent column in Credit Union Magazine, League Director of Communications Christine Henzig related a story from the shoe repair shop. A conversation with the shoe cobbie revealed that simple acts of great service have tremendous impact when it comes to credit unions. FULL STORY

Golf, then attend Mid-Size CU Roundtable
This year's League Invitational golf outing at Wild Rock Golf Club on Sept. 4 - which will raise funds for the Wisconsin Credit Union Foundation - is a great way to enjoy some time with colleagues just one day before The League's Mid-Size CU Roundtable Sept. 5 in the Wisconsin Dells. Mark your calendar!

National, state level recognition is within your reach!
Capital Credit Union received national attention in 2012—and other Wisconsin credit unions captured statewide recognition—for the good work they do serving their members and communities. Will your credit union be next? FULL STORY

OCU, NASCUS & The League offer essentials for directors, managers
Credit union directors and managers are urged to attend a full-day's educational event on Tuesday, June 18 at Empower Credit Union that will focus on industry trends, exam issues, regulatory changes, and emerging risks directors must understand. Plus, directors will be able to fulfill a requirement for annual Bank Secrecy Act training. FULL STORY
Use home equity lines of credit to moderate interest rate risk
As a variable rate lending product, home equity lines of credit (HELOCs) can help moderate interest rate risk. And, the timing is right to use them; media are already reporting they're making a comeback among consumers. Attend The League's June 26 HELOC Seminar in Pewaukee to take full advantage of this timely opportunity. FULL STORY

Apply for a grant, like Park City did!
Park City Credit Union did it, and you can, too! Improve your members' financial stability and the quality of life in your community with a REAL Solutions Initiative Grant from The Wisconsin Credit Union Foundation. Read the guidelines and apply by July 1. FULL STORY

Capture auto loans where members want the help: on the dealer's lot
Tech-savvy members in their peak borrowing years want your help when car-buying. The AskAuto App from CUNA Mutual Group simplifies their search and purchasing experience through use of a smartphone or tablet to compare vehicle information, access loan rates and scan a driver's license to quickly pre-fill a loan application. Go online and watch this demo video to learn more.

Your credit union CAN compete to attract and retain key leaders
In the next five years, 21% of CEOs at credit unions of $100 million in assets or more will retire, according to CUNA research. But as a new video explains, credit unions can compete against all types of financial service providers to fill and retain talent in the top spot. What's more, your compensation package needn't compromise your ability to return earnings to members. Already, 3,800 participants from more than 1,300 credit unions are using CUNA Mutual Group's Executive Benefits solutions. FULL STORY

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