League e-Sights for Dec. 15

League e-Sights

Dec. 15 - 19, 2008

Conference Call Set Friday to Review Chrysler Program

Meeting Notice from LSC CEOs to Credit Union CEOs

We are delighted by Chrysler Corporation's announcement to join the "Invest in America" partnership and extend cash discounts to Oklahoma credit union members through their financial institutions. We are very pleased that Chrysler recognizes the work of credit unions to provide cost savings and economic returns to hard working Americans.

The "Invest in America" program runs through June 30, 2009. The Chrysler "Credit Union Member Cash" program delivers rebates of $500 or $1,000 on eligible Chrysler, Jeep® and Dodge vehicles. These rebates are exclusively for credit union members who obtain their financing from a credit union, including new members. The rebates are layering on top of other incentives, so members can receive other dealer and manufacturer discounts, such as employee discounts or specials.

A special conference call describing the Chrysler program will be conducted by the Michigan Credit Union League (MCUL) on Friday, December 19 from 10:00 a.m. until 11:00 a.m. central time. If you would like to participate on the call, please send a response to Alan Babcock at amb@mcul.org and copy djmorrow@okleague.org.

The telephone number for this call is (866) 393-6559, and the ID to provide the operator is 78471108.

You may also review information about the Chrysler and General Motors programs on the website www.lovemycreditunion.org. (The General Motors program does not include Oklahoma at this time.)

The "Invest in America" vision is to create a win-win program where credit unions provide financing and marketing support in return for exclusive credit union member discounts and rebates. Currently only the Chrysler program provides that exclusivity. The "Invest in America" program was created by CUcorp, a marketing company based in Livonia, Michigan and a wholly-owned subsidiary of the MCUL.

The talking points about the Chrysler program are these:

The cash rebate on the purchase of a Chrysler Corporation eligible vehicle, including the Jeep and Dodge nameplates, is exclusive to credit union members.
To qualify, members need to show proof of credit union membership to the dealer (a statement, a membership card, or some other identifying form from the credit union).
The rebate is based on make and model, and is paid on top of most other discounts.
The loan must be made through the credit union.
Turn-key marketing materials will be available to credit unions to promote the program to their members.
The program will run from now through June 30, 2009.

Purchase League Education Credits

for Your Employees This Holiday Season

The League Education Credit Program is the gift that keeps giving all year long. This program allows you to purchase education credits at a reduced rate for League sponsored education and training seminars, correspondence programs and annual conferences. To learn more about the benefits of this program or to purchase your LECs, click here.

Act fast! The deadline to purchase LECs is January 1, 2009.

Get Connected to Professionals Just Like You

Sign-Up for An OCUL Council Today

Diverse, committed and innovative are the best words to describe the people who make up the councils of the Oklahoma Credit Union League. Each council is designed with the revitalization of the credit union movement in mind. Our councils provide resources, networking and professional development to professionals just like you.

Oklahoma credit union professionals have the opportunity to join the CFO, Compliance, HR, Marketing and Lending Councils. Please click here to learn how you can join our councils today.

For upcoming council meeting dates, view the calendar to the right of this newsletter.

League Events

CU On-The-Ice Night
Come See the Turnpike Rivalry -- OKC Blazers vs. Tulsa Oilers

The Oklahoma Credit Union League has rescheduled CU On-The-Ice Night for Jan. 10, 2009. This event, benefiting Children's Miracle Network and the Oklahoma Credit Union Foundation, will take place at the Ford Center in Oklahoma City, 100 West Reno Ave. Game time is 7:10 p.m. Tickets range from $10 to $20.

Oklahoma Credit Unions will be in one block of seats and will be recognized during gametime festivities.

Why Should Your Credit Union Get Involved?

A portion of each ticket sold will go directly to the non-profits Oklahoma credit unions care most about;
Multiple credit unions working together again demonstrates that credit unions are a cooperative organizations;
It is a fun, family-friendly event!

The OCUL, with the Blazers will be providing posters and information for you to use in promoting this event. If you would like to purchase tickets now, please contact Stacie Rathbun at the Blazer's office by calling 405.235.7825 and be sure to mention CU on the Ice Night!

Council Update

ICUNet Sets First Meeting for 2009

The next meeting of the ICUNet group will be Thursday, Jan. 8, 2009 from 1:00 p.m. to 4:00 p.m. at the Stroud Conference Center, located at 218 W. Main in Stroud. For more information, contact Phyllis Kunze at East Central Credit Union by calling 580.332.6306 or via phylliskunze@eccuada.com

Chapter News

Boomer Sooner Chapter Christmas Party
To Benefit Salvation Army Charity

It's the holiday season and the Boomer Sooner Chapter is in the giving spirit! This month's Christmas party will give you an opportunity to spread some cheer when you bring a toy for the Salvation Army Charity.

Join the Chapter on Wednesday, Dec. 18, 2008, at Crabtown, for cocktail hour at

5:30 p.m. and dinner at 6:30 p.m.

Registration is $17 per registrant. Please email your reservation to Ben McLarty at mclarty@cuintouch.com. Reservations must be received no later than Tuesday, December 16 at Noon.

Credit Union Host: Tinker Federal Credit Union

Business Partner Host: Enterprise Car Sales

Education and Training

Western States Volunteer Conference
February 8 - 10, 2009

This is the one conference that's specifically designed for credit union volunteers in the U.S. Whether you're a board member, supervisory committee member, credit committee member or simply an interested volunteer, you should join us in Las Vegas. Credit union CEOs, managers, and significant others are also invited to attend.

As a volunteer, in this most challenging time, you simply can't afford to miss this opportunity. Come find out how you can be an important 'agent of change' at your credit union. To find out more or to register, click here.

You'll save $50 on conference registration if you register by January 5, so act soon!

Compliance Update

FED to Vote Open-end Disclosures

Resource: CUNA News Now

The Federal Reserve Board is expected to vote on a plan next week that would make comprehensive changes to the format, timing, and content requirement for the five main types of open-end credit disclosures that are required under its Regulation Z.

The types of disclosures covered include credit card application and solicitation disclosures, account-opening disclosures, periodic statements, change-in-term notices, and advertising provisions.

[Read complete story]

News From Southwest Corporate

Southwest Corporate Extends
Merchant Services Program

Former Northwest Corporate Federal Credit Union member credit unions have enjoyed a long-standing business relationship with merchant services provider Total Merchant Concepts, Inc. (TMC). As a result of Northwest Corporate's merger with Southwest Corporate Federal Credit Union, Southwest Corporate is now extending that merchant services relationship to its full membership.

[Read full story]

CUNA News

SBA Lending for Small Credit Unions: CUNA Audio Conference

CUNA is hosting an audio conference on Small Business Administration lending for credit unions. The program will explore the challenges the current economic environment has posed for credit unions and others who participate in lending, as well as provide information on how credit unions can participate in SBA programs.

The December 22 audio conference will be moderated by Nicholas Owens, National Ombudsman and Assistant Administrator for Regulatory Enforcement Fairness at the SBA. Also participating on the call will be Frank Kressman, NCUA Staff Attorney, and Grady Hedgespeth, Director of Financial Assistance at the SBA.

The agency experts will also discuss NCUA's member business lending requirements and how they impact SBA lending. Click here for additional details as well as to register for the program.

News from the US Treasury

Go Direct Campaign Urges Credit Unions to Stand Up
and Be Recognized for Promoting Direct Deposit

Sponsored by the U.S. Department of the Treasury and the Federal Reserve Bank
The U.S. Department of the Treasury's Go Direct campaign is announcing a new recognition program for financial institutions that go the extra mile in promoting direct deposit to senior citizens, people with disabilities, veterans and other members who receive federal benefits. The six-month Go Direct Community Ambassadors Program launches in January and is aimed at community- and medium-sized financial institutions. The program is simple to implement and provides credit unions with a flexible way to demonstrate their commitment to the community's financial health while gaining recognition from Treasury's Go Direct campaign. All credit unions are invited to register online at www.GoDirect.org by January 31, 2009.

Credit Unions that successfully participate in the Community Ambassadors program will receive a letter of recognition and certificate from Go Direct. Participating credit unions will be offered a variety of options for sharing information about the benefits of direct deposit with their customers, including ordering free Go Direct materials. The simple act of switching to direct deposit can have a meaningful, positive impact on the lives of your customers and on your community. Consider the following:

Direct deposit is safer and easier than paper checks - in fact, when there is a problem with a Social Security payment, nine times out of 10 it is with a paper check, not a direct deposit payment.
Direct deposit also provides "green" benefits by reducing the paper and energy required to distribute checks.
And, direct deposit saves taxpayers money. Since it was launched in 2005, the Go Direct campaign has generated more than two million enrollments in direct deposit representing significant savings to taxpayers in printing, mailing and other costs.

Raising awareness about the benefits of direct deposit is a community effort. More than 1,200 Go Direct partner organizations engage in direct deposit education efforts across the country - including financial institutions, non-profits, and community-based groups. For more information about the Community Ambassadors program or Go Direct, call 952-346-6055, or visit www.GoDirect.org.

People and Credit Unions In The News

Focus Federal Credit Union
Announces New CEO

Gerry Moore, Chairman of the Board of Directors of Focus Federal Credit Union, announced earlier this week that the board has selected Kyle Roush as the new President and CEO of Focus Federal Credit Union effective January 1, 2009.

Roush has been serving in the dual role as Interim CEO and Vice President of Financial Services since July 2008. "We are extremely pleased to welcome Kyle Roush as Focus Federal Credit Union's new President and CEO," said Gerry Moore. "Kyle's leadership abilities, financial management experience, and lending expertise provide an excellent foundation on which to assume his elevated responsibilities."

[Read Complete Article]

FAA Credit Union Launches Economic Stimulus Package

FAA Credit Union will be giving members nearly $500,000 in year-end interest rebates and dividend bonuses as their own way to stimulate the economy for their members. This year's program is an enhancement of the rebate and bonus program that the credit union has carried out for nine consecutive years. In an effort to give back to the membership in a way that will help them through these challenging economic times, the board of directors announced an increase in the rebate package for 2008, raising the amount from two percent to three percent and equal to nearly twice as much as the amount awarded in 2007.

Steve Rasmussen, President and CEO of FAA Credit Union comments, "As we head into 2009, it is no secret that an economic crisis continues to loom. With no quick recovery in sight, our goal is to help our members through these trying times. We have had a very successful year and our goal has always been to share our success with our members".

[Read complete article]

Related Web sites