Posted March 14th, 2011 No Comments
Legislature to Consider CU Savings Promotion Raffles

The Nebraska Legislature will soon debate LB 524 which would allow Nebraska credit unions to offer their members “savings promotion raffles” (SPRs). LB 524 was introduced by Senator Amanda McGill of Lincoln. Currently, Nebraska Revised Statutes provide credit unions an exemption to offer gift enterprises or games of chance but does not specifically allow for SPRs. LB 524 would expand the definition of gift enterprise to include SPRs. SPR’s are a way in which credit unions can incentivize their members to save by linking savings with prizes. In 2008-2009 eight Michigan credit unions piloted their “Save to Win” program where members received a chance to win a $100,000 grand prize with each $25 they deposited into their Save to Win account. After just 9 months, more than 11,000 new accounts were opened and $9 million was saved. Today, there are 39 Michigan credit unions participating in the Save to Win program. {Read The Full Article}

Posted March 14th, 2011 No Comments
Senate to Urge More Study of the Interchange Regulation

A bi-partisan group of U.S. Senators are working on legislation that would delay the implementation of the interchange regulation devised by the Federal Reserve Board as required by the Dodd-Frank Act of 2010. The Fed released their proposed rule on interchange fees for those financial institutions above $10 billion in assets with the comment period ending February 22nd. In the Dodd-Frank Act, there was a specific carve-out for those institutions below $10 billion in assets and the credit union industry voiced concern to Congress that the exemption would not work for the nation’s credit unions and that ultimately it would be the members that are hurt by the provision. {Read The Full Article}

Posted March 14th, 2011 No Comments
NE CU’s Go to Capitol Hill

A delegation of Nebraska credit union leaders traveled to Washington DC for CUNA’s annual Governmental Affairs Conference (GAC) in late February. The GAC is the premier legislative event in the credit union movement each year with more than 4,000 credit union staff and volunteers from across the country attending. {Read The Full Article}

Posted March 14th, 2011 No Comments
4Q Data: Nebraska CUs Still Growing

Nebraska credit unions added nearly 10,000 members in 2010 and continued growth in deposits, savings and loans, according to 2010 fourth quarter call report data.

The year–end data showed that overall loan activity rose 4.7% in 2010. Used auto lending represented the largest loan growth sector for Nebraska credit unions increasing by 16% followed by credit cards at 10%. Second mortgage and member business lending slowed by -7.2% and -2.3% respectively.

Credit union members continued to save more in 2010. Overall deposits grew by 7.4%. The strongest category of savings growth was regular shares. Credit union checking account balances increased 14.4% in 2010.

The 2010 data also revealed that credit unions continued to post strong capital-to-assets ratios, averaging 10.8%, higher than the national average of 10.1%

Posted March 14th, 2011 No Comments
2012 International Year of Cooperatives

The United Nations has designated 2012 as the International Year of Cooperatives (IYC) in order to recognize the contribution cooperatives make to social and economic development. The theme of IYC – “Cooperative Enterprise Builds a Better World” – reflects this valuable contribution of cooperatives to the communities they serve.

The United States Senate is also set to recognize the Year as a Senate Resolution is being introduced by Thad Cochran (R-Miss) and Tim Johnson (D-SD). The Resolution enjoys bi-partisan support, including Senators Johanns and Nelson from Nebraska, as cooperative enterprise knows no party, and the social and economic benefits of the model know no boundaries.

Nebraska has nearly 500 cooperatives, including 72 credit unions, employing over 6,000 individuals across the state.

Posted March 11th, 2011 No Comments
Financial To-Do List to Help the Unemployed

While there are indications of the economy starting to make a comeback, there are still many people out of work in the New Year who may need direction and help with prioritizing their financial to-do list. Accel has put together a list for those who find themselves unemployed. {Read The Full Article}

Posted March 11th, 2011 No Comments
Impact of Fed Plan to Purchase Treasury Bonds

League Communication article
Approved for use through 1/31/2012 514 words

Impact of Fed Plan to Purchase Treasury Bonds on Defined Benefit Plans
Additional funding may be warranted if corporate bond yields drop

The plan to buy more Treasury bonds announced by the Federal Reserve on November 3 could increase pressure on credit union’s defined benefits plan in the form of lower funding ratios, larger pension expense, and depending on the funded status of the plan, the possible higher funding requirements. {Read The Full Article}

Posted March 11th, 2011 Comments (1)
NCUL Board of Directors Elections

NCUL Board Elections (Option 1)

The Nebraska Credit Union League Board of Directors has three seats up for election in 2011. Following the official call for candidates in January, candidacy declarations were received for each open seat:
{Read The Full Article}

Posted March 11th, 2011 No Comments
NCUL Endorses Money Mission

When it comes to understanding how to manage a checking account or how a credit card works, the National Endowment for Financial Education (NEFE) reports that American teens get a failing grade. Many attempts to promote financial literacy from different sources have failed, not because they weren’t good lessons, but because they were unable to engage the group who could stand to learn the most.

Enter Money Mission. Money Mission is an online simulation, available to play through credit unions that teach real life financial skills. Teens create an avatar and live, work and make real life financial decisions in the game’s simulated village, Mission Heights. {Read The Full Article}

Posted March 11th, 2011 No Comments
Will you survive the Big Boom?

{Read The Full Article}

Posted March 11th, 2011 No Comments
NCUA Launches MyCreditUnion.gov

NCUA this week launched MyCreditUnion.gov, a new Web site that offers “a one-stop toolbox of educational information and personal finance tips designed to help individuals in making smart financial decisions and better choices for their money.” {Read The Full Article}

Posted March 11th, 2011 No Comments
FIS: Find A Card

Competing with banks for credit cards just got easier for our FIS credit union clients. “Find A Card” is a quick and easy way for consumers to find the Visa product that best suits their needs. If you are currently an FIS credit union, you can sign up with CSCU to have your card offering listed in this online tool for free. When a consumer clicks on the card providers name (that you have provided), they will be taken to your homepage to see what Visa products you offer.

Spruce up your homepage with current, easy to find Visa product information and an on-line application. Visit www.cscu.net/VisaFindACard to have your information added to Visa.com’s Find A Card listing.

Looking to switch card providers to FIS (formerly Fidelity)? Contact Dan Collins at 1.800.950.4455 ext. 205 or dcollins@nebrcul.org.

Posted March 9th, 2011 No Comments
CUNA Launches Volunteer Network

To assist volunteers in fulfilling their increasingly complex and demanding roles, CUNA has launched a Volunteer Network, an online community and resource center for credit union volunteers. This membership based group keeps volunteers informed about industry news and connected with their credit union peers.

The CUNA Volunteer Network offers access to a group list serve, board training courses, discounts on educational opportunities, and more. It also offers industry training opportunities, business insights, free enrollment in the volunteer Certification Program, and peer advice.

For membership details and to become a member of this group, visit the CUNA Volunteer Network page.

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The mission of the Nebraska Credit Union League & Affiliates is to protect, promote and perpetuate the credit union movement in Nebraska.
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