| Hurricane Victims Need Your Support
Golf for the Gulf: Help for CU Families |
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Sponsorship opportunities remain for the Golf for the Gulf Celebrity Golf Outing that benefits victims of Hurricane Ike. Southwest Corporate, the Texas Credit Union League and Texas Credit Union Foundation, will host the event on Tuesday, Nov. 18 at the Cowboys Golf Club in Grapevine, Texas.
Credit unions are encouraged to pass along tournament information to their service providers. Full sponsorships include a golf foursome plus celebrity, private reception, breakfast and lunch, event signage, green fees, range balls and more for $7,500.
Groups of four can play for $1,000, which includes green fees, breakfast, lunch, range balls and gifts. Single players may register for $250. The tournament features an impressive line-up of celebrity golfers including Harmon Killebrew, Ozzie Smith, Charlie Pride and more.
To join the list of sponsors, or to register, go to www.tcuf.coop or contact Jill Pharr, 469.385.6447. |
What's Happening With Your Councils
Conducting Human Resources Self Audit
Topic of Nov. 6 HR Council Meeting |
Learn the best practices of conducting a HR Self Audit by attending the November 6 session at the Stroud Conference Center. View the flyer.
Please note: Compliance Council members are invited to this meeting at no additional charge. |
| Economic News
Rescue Cash Tempts Banks |
| The following article was found in the Wall Street Journal on Nov. 3, 2008.
"... As many as 1,800 publicly held institutions could apply for government investments in coming weeks, out of concern that failing to do so could make them losers in a banking sector reshaped by the Treasury's $700 billion rescue plan."
"... Thousands more private banks could apply for government capital as well."
"Only days ago, many healthy banks were saying they didn't need taxpayer money under the Troubled Asset Relief Program. These healthy banks said they worried that taking government investments could unfairly tar them as in need of a bailout. In the past week, that perception has been reversed, due in large part to efforts by Treasury, banking lobbyists and legal advisers to sell the TARP."
"... Now institutions across the U.S. worry that if they don't try for the money, the market will judge them as too unhealthy to qualify, or lacking the savvy to deploy cheap government capital on acquisitions and investments."
"... Some banks and their advisers ... are scrambling to commit to the program, worried they will be left out in the cold when the deadline passes."
[There's money to be made helping tuck banks under the TARP.]
"Helping banks to understand and apply for the Capital Purchase Program has become a cottage industry in Washington, where firms with lobbyists and lawyers under the same roof have been adding banking clients by the dozens."
[And such wise uses of taxpayer money!]
"House Financial Services Chairman Barney Frank ... is joining other Democratic leaders in demanding government money be used for lending first, not acquisitions. Banks and their lobbyists ... oppose such restrictions. It's cheap capital, cheap insurance and a bonus for the institutions that are participating."
Past Week Economic Indicators
For a list of this past week's economic indicators, click here. |
| News From Southwest Corporate FCU
Member Capture Product Announcement |
| "Whenever, wherever, whoever you are, you'll love the convenience and safety of remote deposits." That's right! The days of driving to a credit union branch to deposit a check are gone. With Southwest Corporate's new Remote Deposit Member Capture, your credit union can give time back into your members' days.
For more information, contact your account executive at 800.442.5763.
Obama Will Have Little "Wiggle Room"
Author and economist Jeff Thredgold spent considerable time peering beyond the horizon during Southwest Corporate's 31st annual Economic Forum last week. His first glimpse into the crystal ball offered little encouragement to the winner of the presidential election.
"Policy changes will be limited by a large national budget deficit, likely to exceed $450 billion this year," Thredgold told nearly 500 attendees. "There is just no wiggle room for aggressive spending on new programs."
Anticipating large wins by Democrats, Thredgold did not believe sufficient political stomach exists to undo tax cuts passed during the Bush administration. However, he predicted Congress will take action to tighten regulations in the financial industry. "When we moved from quality of loans to quantity of loans, it was a recipe for disaster."
Thredgold predicted the U.S. economy will suffer through a recession until at least mid-2009, but he remained optimistic that inflation will remain low-hovering at two percent-in 2009, and the stock market will recover from the recent freefall. "Mortgage rates are likely to decline further this year, possibly rekindling demand."
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| Education And Training
Financial Review Webinar This Thursday |
Southwest Corporate will conduct a monthly Financial Review Webinar this Thurs., Nov. 6 at 3:00 p.m. CT to keep members fully informed of its investment portfolio, financial results, and related credit risk management and oversight process. To register, visit www.swcorp.org or contact Sandi Altman at 214.703.7842.
Miss It? Impossible
You have been selected to serve on a top secret mission. The mission (if you accept it): to learn how you can become an agent of change for your credit union at the Western States Volunteer Conference, held Feb. 8 - 10, 2009 at the Monte Carlo Resort & Casino in Las Vegas, Nevada. For more information, click here. |
NCUA Update
Share Insurance 101 Webinar
Now Archived On NCUA Web site |
| NCUA Board Member Gigi Hyland announced that the full Share Insurance 101 Webinar is archived online at www.ncua.gov. The archive includes the actual webinar, the expanded Share Insurance 101 Webinar PowerPoint presentation, as well as the webinar transcript and frequently answered questions. The detailed slides, transcript, and FAQs include essential information on the fundamentals of share insurance that credit unions and members will find beneficial in determining the extent and safety of their credit union deposits.
To access the Webinar, click here. |
Studies From Filene Research Institute
Employee Perceptions of Credit Unions |
| In a recently released study by the Filene Research Institute, entitled "Employee Perceptions of Credit Unions: Implications for Member Profitability," the researchers explore the "hypothesizes that credit union success is critically dependent on the credit union's employees perceptions of, and attitudes toward, credit unions.
Find out what the study says about the perceptions of credit unions by their employees: click here. |
| CUNA News
Dust Off Your Wand For National Credit Union Youth Week 09' |
 Plan on plenty of magic in 2009 as credit unions everywhere will be celebrating today's youth during National Credit Union Youth Week, held April 19 - 25, 2009. To get you started, here's a link to some playful magic tricks.
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