League of Southeastern Credit Unions & Affiliates
Director’s Resource League of Southeastern Credit Unions | January 2015 | Vol. 5 Issue No. 4
President’s Message The New Year will start off quickly for credit unions as the NCUA is expected to vote on a new risk-based capital (RBC) proposed rule in mid-January. I met with NCUA Chairman Debbie Matz in October, and had separate meetings with senior staff for board members Rick Metsger and Mark McWatters. In the meetings, it was clear that the comment letters from credit unions and the letters from Congress were being taken seriously. Among the expected changes to the proposed rule will be a longer implementation period and revised risk weights for five categories. Credit unions received a victory in December before Congress broke for the holidays. The Senate passed the Share Insurance Fund Parity Act, and the president signed it into law on Dec. 18 (see story on page two). We have many more major issues in 2015 including H.R. 5061 from Rep. Jeff Miller (R-FL) that will amend the Federal Credit Union Act to exempt member business loans to veterans from the MBL cap. The League is working closely with Rep. Miller on this legislation. Comprehensive tax reform will also be a hot topic early in 2015. Look for more information in early in January on these issues. I hope to see you in 2015.
Building for Your Board’s Future Credit union boards have grown more involved, selfgoverning, and valuable. Their forward-looking viewpoints have resulted in boards renewing themselves as strategic partners with their CEOs. Below are four ways to deepen your board’s relevance to your credit union and credit union members. Understand Your Business Conventionally, directors occupied the board room; today, they visit operations, attend conferences, and know operating executives. Far from crowding CEO real estate, this deepens understanding of operations. One CEO offers his perspective: “The more our directors understand, the less we get ‘off base.’ Our board meetings are not about scrutinizing numbers; our meetings focus on strategic topics and opportunities.” Dedicated time with C-level executives is useful to understand a day in the life of business development, lending, and operations. With a strategic view of how your credit union earns revenue and profit, directors can see strategy in action, supporting CEOs and executives in their decisions. (continued on page 2)
Save the Date CUNA Governmental Affairs Conference March 8 - 12 Sunday - Thursday Washington, D.C. Click here for more information Florida Credit Union Association State GAC March 24 - 25 Monday - Tuesday Tallahasee, FL Click here for more information Alabama Credit Union Association State GAC April 7 - 8 Tuesday - Wednesday Montgomery, AL Click here for more information