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for Friday, April 3, 2015
Find us on social media! - Visit our Facebook for a Throwback Thursday picture of the first credit union in the country, Manchester, New Hampshire's Caisse Populaire Ste. Marie, now known as St. Mary's Bank.

Legislative Leaders & Local Guitarist Added to CU Day Program
Confirmed this week as additions to an already impressive roster of distinguished speakers at Wednesday’s CU Day in the Statehouse are Lt. Governor Phil Scott, DFR Deputy Commissioner of Banking Cynthia Stuart, Windham County Senator Becca Balint, and Chittenden County Rep. Johanna Donovan, the Ranking Member of the House Committee on Ways and Means.  As previously announced in Newslines Express, Senate President Pro Tempore John Campbell, Speaker of the House Shap Smith, and DFR Commissioner Susan Donegan have already been confirmed to speak during AVCU’s 2015 Legislative Briefing which starts at 1:00 PM in Statehouse Room 10.
After the briefing, the ambience of AVCU’s annual Legislator Appreciation Reception taking place from 3:00 PM to 5:00 PM in the Statehouse Cafeteria will be greatly enhanced by musician and recording artist Dayve Huckett, who will play background music throughout the event.  Huckett teaches guitar at the Elley-Long Music Center at Saint Michael’s College and at the Mahaney Center for the Arts at Middlebury College.
There is still time to participate in the most important annual event in AVCU’s state legislative calendar.  Click here to register for this free event that is open to all Vermont credit union employees and volunteers and represent your credit union among Vermont's most influential legislators and administration officials.
Nominating Committee Names Two Candidates to AVCU Board
The 2014 - 2015 AVCU Nominating Committee has selected two candidates to place into nomination for the two positions on the AVCU Board of Directors which expire on May 16th at our 68th Annual Meeting at Equinox Resort.  Committee Chair Jim St. Peter (New England FCU) and members Susan Best (ORLEX Government Employees CU), and Joyce Hasbrouck (Covered Bridge CU) have nominated for election:
  • Sean Gammon, CEO, Members Advantage Community Credit Union
  • Susan Poczobut, CEO, Granite Hills Credit Union
The full report of the Nominating Committee, which contains pertinent information about each candidate’s background and professional career, has been emailed to all AVCU member credit union Manager / CEOs and is available for download from the special events page of AVCU’s website where all other Annual Meeting materials are posted.
 
Association bylaws allow for additional nominees to be added to the ballot by petition.  Any qualified individual seeking to be added to the 2015 director elections ballot must submit his / her completed petition and qualifications to the Nominating Committee by April 10, 2015. Candidates submitted by petition must be accompanied by the authorized signatures of six member credit unions.  Qualified individuals are those from member credit unions not already represented on the board of directors, and serving as a credit union chief executive, senior manager, or any elected volunteer.  Upon determination of eligibility and petition criteria by the Nominating Committee, Petition Nominees will be added to the elections ballot, and member credit unions will be notified of the revised nominees on the ballot.
 
Also under Association bylaws, member credit unions are allowed to vote for Directors by absentee ballot.  Absentee ballots must be requested by phone or email from AVCU by Friday, April 10, 2015 and completed absentee ballots must be received at the AVCU offices no later than close of business on Friday, May 1, 2015.  At the Annual Meeting on May 16th, 2015 all absentee ballots will be counted by the designated ballot clerks and added to the total of ballots cast in person.
Shuman Chosen to Succeed White at Vermont VA FCU
In a press release this week, the Board of Directors of Vermont VA FCU announced that Michael “Mike” Shuman has been chosen to succeed CEO Sandra “Sandi” White upon her retirement this spring.  Mr. Shuman is currently the Vice President of Lending at Merrimack Valley Federal Credit Union.

Mr. Shuman brings substantial financial services experience to his new position and has worked extensively with credit unions for the last 13 years.  He graduated from the University of Massachusetts - Amherst with a liberal arts degree and earned his MBA from Suffolk University.
"Becoming CEO at VT VA FCU, the oldest credit union in Vermont, is a great honor and privilege,” Shuman said in the release. “Serving members to enhance their financial well-being will continue to be the priority as the credit union grows."

Sandi White served on the AVCU / VCUL Board of Directors from 1998 – 1999 and on numerous committees throughout her Vermont credit union career.  AVCU shares the appreciation expressed in the release by the Vermont VA FCU staff and Board of Directors, who thanked Sandi for her 8 years of dedicated service to their organization, and wished her continued successes in the future as she transitions to new activities in the years ahead.
AVCU Data Mirror Results of Minnesota Card Fraud Survey
A recent poll of 500 likely Minnesota voters indicates that at least one-third of the state’s residents have had a credit or debit card replaced because of fraudulent use or a data breach.  Perhaps more alarmingly, in spite of a record number of retail data breaches, only 36% of Minnesotans blame retailers when their personal financial information is compromised.  The January survey was commissioned by the Minnesota CU Network. 

AVCU’s Program Services Administrator Michelle Fullerton confirmed for Newslines Express that members of credit unions on our debit card program have seen a comparable card replacement rate.  “Our most recent CUCard numbers are in line with those from Minnesota, as approximately 33% of all cards we’ve reissued in the past six to eight months have been due to fraud.”
According to data from CUNA, credit unions nationwide have incurred nearly $90 million in costs responding to data breaches just from massive breaches at Target and Home Depot, including those for reissuing debit and credit cards, increasing call center staff and setting up account monitoring.  Through its Stop the Data Breaches initiative, CUNA continues to press lawmakers to pass legislation that would require merchants to meet the same strict payment data security standards required of financial institutions.

The costly impact of merchant card fraud was one of the items AVCU President Joe Bergeron and Vermont’s credit union leaders addressed in meetings with the state’s Congressional delegation during CUNA’s Governmental Affairs Conference in March.  “The lack of the same security standards and consequences for all parties touching cardholder data has always been of concern to Vermont credit unions,” says Bergeron. “But reissuing multiple cards to the same member within a short period of time has become far too commonplace in recent months. It should serve to urge Congress to promptly address this one-sided equation of responsibility.”
Annual Meeting Silver Sponsor - Superior Lending Solutions
Superior Lending Solutions is the first of two new silver sponsors whom we're happy to welcome to their first AVCU Annual Meeting. They are making it possible for us to bring back professional photographer Ryan Sumner of Fenix Fotography in Charlotte, NC who will once again photo document convention weekend for AVCU.
We thank Superior Lending Solutions for sponsoring the first AVCU Annual Meeting they'll attend and want to remind readers that although the early bird deadline has passed, standard registrations, which still offer significant discounts off a la carte pricing, remain available until the final convention registration deadline of April 24.

For more information, download the brochure from our Special Events page or visit the attendee registration page on Eventbrite.
                      Newslines Express Puzzling Picture # 11                     
Each week leading up to convention weekend, we're converting the company logo of one of our convention exhibitors into a jigsaw puzzle.  All Vermont credit union employees or volunteers who are (or will be) registered for Friday's opening banquet at our upcoming Annual Meeting are eligible to play the Newslines Express Puzzling Picture contest which offers one lucky attendee an excellent chance at joining the Picture Perfect Phrase Winner's Circle and claiming a cash prize (click the image for a larger version).
To play, download and print the contest submission form (if you haven't already) and write down the name of the company this logo belongs to in the appropriately numbered spot.  If you have trouble putting the picture together in your mind, visit our Special Events page as each company's logo gets added there once they register with AVCU as an exhibitor or sponsor.  Bring your completed form with you to the convention and drop it in the box in the Exhibitor Hall before 9 PM to be entered into the random draw to win the contest.  Don’t panic if you miss a week as all Puzzling Pictures will be on display at the convention.  Official contest rules and eligibility are outlined in detail on the form.
Management Minute, News & Notes, Calendar & Employment
Recent Headlines from Management Minute
  • Checking Faces Growing Threat From PIN-Less Debit
  • Cheat Sheet: CFPB's Game-Changing Plans to Rein in Payday Lenders
  • Patent hearing, budget discussion on CUNA's radar this week
Upcoming Education Calendar
 
4/7 ACH Rules Update 2015 Shelly Simpson
4/8 Problem Loan Workout in Today's Market David Osburn
4/8 Advanced Issues in Dormant Accounts, Unclaimed Property & Escheatment Elizabeth Fast
9 Current Issues in Physical Security Risk: Regulatory Compliance & Best Practices Barry Thompson

Employment Opportunities
Marketing & Information Services Specialist, White River Credit Union (NEW Today!)
Custodial Services Technician (2nd shift), Heritage Family Credit Union (2nd post)
Consumer Loan Call Center Officer, Vermont Federal Credit Union (3rd and final post)
Positions previously posted in Newslines Express are available here.

Share With Us - We're always looking for pictures, press releases, and news that helps tell the story of why credit unions in general, and yours in particular, are so special to Vermont consumers.  Send submissions to jcote@vcul.org.

National News & Updates
Daily national news and weekly updates on regulatory and legislative issues provided by CUNA
News Now - view today's issue or archives
Regulatory Advocacy Report - member login / registration required
Legislative Update - member login / registration required

Daily Rates
CUNA's Financial Rates page offers information from the Wall Street Journal and other sources
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