League News
OCUL Raises Excess of $10,000 for Children's Miracle Network |
Oklahoma credit unions have shown their commitment to giving back to children in Oklahoma with two recent fundraisers held at the Oklahoma Credit Union League 74th Annual Meeting held last month in Tulsa. This year, more than $10,000 was raised for Credit Unions for Kids at the meeting. To read the complete story, click here. |
| Education And Training
Don't Forget To Register For The Upcoming Training Sessions Provided By OCUL |
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OCUL's Training and Education department offers a wide variety of industry related educational opportunities to our member credit unions in the form of conferences, Webinars and audio sessions. Don't forget to take advantage of these opportunities, simply by clicking on the links in the side calendar. |
| What's Happening With Your Council |
Complete Your Red Flag Risk Assessment At The June 10 Compliance Council Meeting
This is your last week to sign up for the June 10 Compliance Council meeting, to be held on June 10 at the Stroud Conference Center. Beginning at 9 a.m., the meeting will focus on the Red Flag Risk Assessment, which is the first step in compliance with Section 114 of the FACT Act. Participants will break off into groups to develop their Red Flag Risk Assessment. In addition to the group activities, representatives from Verafin will discuss Red Flag compliance and how to integrate these identity theft compliance requirements with BSA/AML, and fraud detection procedures already in place.
Registration for this meeting can be made online by June 6 at www.okleague.coop or by fax to 918.496.4689. Non-members are encouraged to attend this meeting for only a $16 non-member fee. For more information, contact Dana Kroutil at dkroutil@okleague.coop.
Please Note: Attendees should bring their credit union's vendor list and a list of products and services, as well as any additional pre-developed Red Flag compliance materials.
Marketing Council To Host Meeting On June 26
The Oklahoma Credit Union Marketing Council will host their first meeting on Thursday, June 26 at the Stroud Conference Center beginning at 10 a.m. The agenda for this meeting will consist of officer elections as well as a presentation on the "Oklahoma Hispanic Opportunity" as presented by Diana Rogers, account executive of Univision Television in Oklahoma City. Attendees will learn how to grow their member-base by targeting the young Hispanic, learn more about programs to incorporate within their credit union to target this group and how to measure the outcome of your marketing efforts. For more information or to reserve your seat, call Nikkie Boyd at 918.496.4688, ext. 211 or email education@okleague.coop. |
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Chapter News
Boomer Sooner Chapter Meeting Set For June 19 |
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The next Boomer Sooner Chapter Meeting will be held June 19 at the Sportsman's Country Club. The presenter for the evening will be Jan Dunhan of the Children's Miracle Network/ Children's Miracle Research Foundation.
Save-The-Date For July 15 Green Country Chapter Meeting
The next regularly scheduled meeting for the Green Country Chapter is set for July 15. More details to come. |
Compliance News You Can Use
Collections The CU Way Addressed In New Best Practices Report
When it comes to credit union collections, experts agree that the best strategies focus on the process - establishing a strong rapport with members, nurturing trust, communicating with respect, and working toward a repayment solution - rather than the numbers. Specific process-focused collections strategies are offered in a new best practices report from the Credit Union National Association.
As the economy struggles and delinquencies rise, Credit Union Magazine Best Practices: Collections the Credit Union Way describes the successful strategies of eight credit unions for weathering the economic storm. These credit unions - ranging from $23 million in assets to $3 billion in assets - collectively recovered nearly $2.7 million in charge-offs and average a 25.7 percent recovery rate.
The report may be purchased in print or PDF downloadable format. To purchase, go to www.buy.cuna.org; enter stock number 28299 in the product finder box. For assistance with downloading this report, call 800.356.8010, press 3, and use the stock number as a reference.
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| Children's Miracle Network
Mark Your Calendars For The Dancing For A Miracle Gala: Featuring Oklahoma Celebrities |
This is your chance to enjoy a wonderful dinner, a silent auction and watch Oklahoma celebreties compete for the title of "Children's Miracle Network Dancing For Kids Star!" The event will be held July 12, 2008 at the Gaillardia Country Club and will begin at 6 p.m. Featured celebrities competing for the title include: Al McAffrey, State Representative; Cherokee Ballard, KFOR Anchor; Mary Fallin, U.S. Congresswoman; Scott Hines, KFOR Reporter; Lauren Nelson, Miss America 2007; Vince Orza, Dean of the OCU Meinders School of Business and Mindy Stitt, OERB Executive Director.
If you are interested in sponsoring the Gala, please contact the Children's Miracle Network office at 271.8430. |
| News From Southwest Corporate
Southwest Corporate's Self-Managed Advantage Line Of Credit Offers Low Rate |
Lending activity is slow-CUNA forecasts 2008 credit union loan growth of just five percent-making it an ideal time to take stock of operations and prepare for the future. One strategy for preparedness is to establish a line of credit now, so that the credit union is covered when lending activity picks up and liquidity tightens. Credit unions looking for optimal rates may want to consider Southwest Corporate Federal Credit Union's self-managed Advantage Line of Credit.
"The Advantage Line of Credit is Southwest Corporate's most cost-effective line of credit, because it is self-managed. It does not provide automatic loan advances to cover settlement transactions. Instead, advances must be initiated by the credit union using Southwest Corporate's TranZact system," said Cheryl Nordhem, Southwest Corporate's Senior Loan Officer/Administrator. "Consequently, it carries a low interest rate of up to 52 basis points off our Standard Line of Credit and 27 basis points off our Performance Line of Credit."
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Important Dates
June
5th
5th
9th
Green Country Scholarship Entries Due
10th
Compliance Council Meeting
10th
19th
Boomer Sooner Chapter Meeting
19th
1st
9th
9th
10th
14th
17th
22nd
Recruitment And Hiring (Webinar)
22nd
28th -31st
National Youth Involvement Board Conference, Las Vegas
30th
30th
31st
Youth Market - Next Generation (Audio)
August
Conducting a Risk-Based Compliance Audit (Webcast)
14th
Reg CC and Check Holds (Webcast)
25th
ME/CU Golf Tournament
27th
Reading and Understanding Personal Tax Returns (Webcast) |
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