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for Friday, May 8, 2015
Find us on social media! - Visit our Facebook for a Throwback Thursday picture of Vermont credit unions delivering petitions to then Congressman Bernie Sanders in the early stages of what ultimately resulted in passage of the CU Membership Access Act of 1998.

CUNA Issues Action Alert for House Data Breach Legislation
Building on the success credit union advocates are having in getting data breach legislation introduced in the U.S. Congress, this week CUNA launched a new call to action to garner support for the recently introduced House Data Security Act of 2015 (H.R. 2205). CUNA strongly backs the broad House bill that would establish a national data security standard.
“Credit unions work hard to protect their members’ data security. They block card usage and issue cards with new numbers quickly after breaches to prevent fraud. When fraud occurs they work with members to remove the fraudulent charges and help members keep their hard-earned money,” said CUNA President/CEO Jim Nussle. “When the merchants cause a data breach, they just pass along many of the costs of their poor security to credit unions.”

The House bill, introduced by Reps. Randy Neugebauer (R-Texas) and John Carney (D-Del.), is a companion to Senate data breach legislation (S. 961), which was introduced by Sens. Tom Carper (D-Del.) and Roy Blunt (R-Mo.).  H.R. 2205 would require all entities that deal with consumers’ personal information to develop and maintain an effective information security program tailored to the complexity and scope of its operations and the sensitivity of its data.

CUNA Chief Political Officer Richard Gose praised strong credit union engagement on the issue of data breaches, particularly in recent months, and urged the credit union system to remain involved going forward and support CUNA’s Action Alert. “We are very fortunate that over 350,000 credit union members have been engaged with this issue since the beginning of the year, and we believe this has had a significant impact in getting these bills introduced,” he said. Credit union stakeholders can take action by:
Preliminary Task Force Findings Focus on Advocacy & Choice
CUNA’s System Structure and Governance Task Force preliminary findings include that credit unions want better advocacy and more choice from their trade association. The Task Force – a 12-member group made up of credit union leaders including credit union CEOs, state league presidents, a credit union volunteer, and a CEO who represents a credit union not affiliated with CUNA – was appointed last September to study CUNA’s structure and governance and make recommendations to the association’s Board of Directors. The group commissioned several focus groups and a nationwide survey of credit unions to gather feedback.
The Task Force presented its preliminary findings for discussion, led by Chairman Tom Dorety of Suncoast Credit Union, to the CUNA board, the National Credit Union Roundtable and league presidents this week in Denver. The Task Force is seeking a solution that will give credit unions an element of choice in how they belong to and interact with the system without harming the advocacy strength that comes from a unified, accountable system. In its work, the Task Force is considering how to meet of the needs of the credit union system as it evolves over the next decade. Items discussed by the Task Force included:
  • Introduce some choice on how dues are allocated among three areas: the national organization, the state leagues and a System Advocacy Fund;
  • Form a cooperative agreement between CUNA and the leagues to institutionalize accountability;
  • Dedicate all dues to fund advocacy; and
  • Establish a strong interdependence and unity between the state leagues and the national organization, to be united under the America’s Credit Unions banner.
“Several preliminary ideas were put forward for discussion and received positive feedback," CUNA President and CEO Jim Nussle said. "The focus was on how our trade association can facilitate superior advocacy throughout the credit union system while giving more choice on how to join the organization. I’m pleased that credit unions nationwide are working to help us build a better and stronger advocacy organization.”

The Task Force’s next steps are considering the feedback it received from the CUNA board, the National Credit Union Roundtable and league presidents at its next meeting. It will revise and refine its recommendations with the goal of producing a report to the CUNA board, which will likely vote on the proposals later this year.
Reminder: Please Support our Convention Reality Fair Food Drive
AVCU needs the help of those attending our Annual Meeting next weekend so that together we can help others less well off than most of us. As part of Sunday's Financial Reality Fair, AVCU is holding a non-perishable food drive that will jointly benefit the Manchester Community Food Cupboard and the Rutland Area Community Cupboard, two local food shelves that are network partners with the Vermont Foodbank.

Every Reality Fair participant who donates two non-perishable food items at the Fair’s Charitable Giving booth will receive a “$50 tax credit” on their budget spreadsheet which can help them achieve the simulation’s goal of living within a monthly budget. AVCU will add $1 for every food item donated to our total cash contribution which will also jointly benefit both community food shelves.
Food shelf directors Martha Carey and Susan Bassett will staff the Charitable Giving booth and are grateful that Vermont's credit unions are supporting their organizations. If you’re participating in the Fair, please bring your donations to breakfast with you Sunday morning to earn your tax credit. If you’re not able to stay with us through Sunday morning, we welcome your support for the food drive and will happily accept donations at convention check-in or in our office (the Dorset room on the Equinox’s Garden level) anytime during the weekend.
Heritage Family CU Announces Reorganization & New Hires
Heritage Family Credit Union (HFCU) is pleased to announce reorganizational movement with its recent change in leadership under President Matt Levandowski, as well as two new hires.
  • Carrie Allen, HFCU Senior Vice President and a member of AVCU’s Board of Directors, has been appointed to oversee the credit union’s Marketing Team in addition to her role in Business Development.
  • Marleen Cenate has been named Senior Vice President - Business Services.
  • Julie Riccardi has been promoted to Senior Vice President - Mortgages.
  • Sara DeLance has been promoted to Vice President - Branch Operations.
  • Milt Moore has been promoted to Vice President - Collections.
  • Leanne Bixby has been promoted to Assistant Vice President - Branch Manager of the West Street branch in Rutland.
  • Eric Erwin has been promoted to Assistant Vice President - Dealer Relations.
  • Heidi Sweet has been promoted to Assistant Vice President - Branch Manager of the Bennington branch.
HFCU also announced the hiring of Josh MacDuff as Assistant Vice President - Call Center Manager and Shannon R. Poole as Assistant Vice President - Marketing Specialist.
NEFCU & Lake Monsters Team Up for Community CHAMP Sightings
Once again, New England Federal Credit Union (NEFCU) will work with the Vermont Lake Monsters to offer free CHAMP appearances (called "CHAMP Sightings") to non-profit organizations and other programs that share their commitment to enhancing the wellbeing of local communities. “CHAMP stands for so many positive things," said Cindy Morgan, NEFCU’s Senior Marketing Executive in a media release. “CHAMP creates smiles and priceless memories in hospitals, on awareness walks, and at other worthwhile events.”

CHAMP has been the mascot for the Lake Monsters since the team's first season in the New York-Penn League back in 1994.  The partnership between NEFCU and the Lake Monsters offers certain organizations and programs the opportunity to have CHAMP make an appearance at their event for no charge. Applications can be downloaded from the “CHAMP Sightings” page on the Lake Monsters website, www.vermontlakemonsters.com.
"CHAMP makes events fun while helping to draw attention to worthwhile causes that are important to our community," said Morgan. "We're delighted to support the Lake Monsters, and we encourage all non-profits and other programs that qualify to apply for a free CHAMP Sighting at their 2015 event."
There's Still Time to Make Donations to our Convention Auction
With just one week to go before AVCU's 68th Annual Meeting & Convention takes place at the Equinox resort, now is the time for our credit unions and business partner companies to make a donation to our Action Auction benefiting Vermont credit union political action. Although we've already received a tremendous assortment of great gifts (PDF file), we hope to have many more for convention attendees to bid on in both our Silent and LIVE! auctions that will happen on Saturday, May 16.
Just tell us what you're donating and we'll add your item to the list of donations available from the Special Events page of our website.
Management Minute, Calendar, Jobs & News Updates
Recent Headlines from Management Minute
  • Apple Pay Now Live With All 4 Major Credit, Debit Cards
  • Regulator Sets New Rules on Credit-Union Membership
  • Final Associational Common Bond Rule Includes CU Changes
Upcoming Education Calendar
PLEASE NOTE:  Newslines Express will not be published new week due to AVCU's 68th Annual Meeting & Convention.
 
5/12 ALM Best Practices ALM Group
5/12 IRA Series: IRA Death Distributions: Beneficiary Options & Tax Consequences Linda Kleibrink
5/13 Duties of the Board Secretary: Fundamentals, Best Practices & E-Package Delivery Ann Brode-Harner
5/14 Home Equity, HELOC & Second Lien Risk Management, Including Maturing HELOC Guidance Tommy Troyer

Employment Opportunities
Business Credit Analyst, Heritage Family Credit Union (3rd and final post)
Branch Manager (Fair Haven), Heritage Family 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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