Advocacy (continued)
A fundraising guide was developed to assist credit unions with their PAC fundraising efforts. In 2010, LSCU PACs raised more than $414,000 and contributed $1.1 million
Other compliance and regulatory resources provided to credit unions included access to a free regulatory and compliance resource, League InfoSight, which also includes model policies and a weekly newsletter. The League helps to strengthen the content of League InfoSight which saw an increase in usage by 251 percent in Alabama and 30 percent in Florida. Custom Performance Reports were distributed to credit unions on a quarterly basis to help credit unions and boards gain a better understanding of their financial picture and how it compares with their peers.
Alabama credit union representatives meet with House Financial Services Committee Chair U.S. Rep. Spencer Bachus (AL-6) during a visit during CUNA’s GAC.
to credit union friendly candidates during the 2010 election cycle. Regulatory advocacy and compliance support are two areas where credit unions rely heavily on the League. In 2010, the League ramped up its efforts in this area with the addition of a director of compliance position based in the Birmingham office. Also, the League developed and strengthened relationships with state and federal regulators, while providing opportunities for credit union interaction with regulatory agencies (NCUA, ACUA, and OFR). This included having the regulators at the LSCU Annual Convention and the Development Conference.
A compliance helpline is available to provide members ongoing assistance in the compliance area. Also in 2010, the League ramped up its efforts to distribute summaries and explanations of all major regulatory proposals and final regulations.
LSCU President/CEO Patrick La Pine takes part in a meeting with NCUA Regional III Director Herb Yolles and several league presidents in Atlanta.
$57 billion 5.7 million
in assets
306
credit unions
members LSCU Annual Report | 2010
4