HEADLINE NEWS

Delaware League Revamps Website
     The League, in cooperation with Visions, Ink., has redesigned our website, www.dcul.org, to be more attractive and easier to navigate, thereby making information more accessible.
     The home page proudly displays photos of popular sites from our three Delaware counties: the Kalmar Nyckel docked in New Castle County; Legislative Hall in Dover, Kent County; and Rehoboth Beach in Sussex County. These photos provide the gateway to the site’s three parts: one targeted specifically for credit unions, one for consumers, and one for contacting the League.
     The credit union section will allow our member credit unions to access education and training resources, compliance tools (InfoSight), League products and services, and employment referrals. In addition, all League publications will be archived on the site, and there are links to other CU system sites (e.g. CUNA, CUNA Mutual, Mid-Atlantic Corporate, NCUA), where you can go to check on industry-related current events and services.
     The second section is designed for consumers. Once inside, consumers can find information on the nature of credit unions, how to find and join a credit union, where to locate surcharge-free ATMs, employment information, and personal finance tips.
     According to Susan Fallon, the League’s website manager, “We want this site to be as useful as possible. After all, the goal is to make Delaware credit unions’ life easier. We encourage your feedback.”

“Get on the Van” for Delaware CUs’ Hike the Hill
     Regardless of the size of your credit union or the number of members your credit union serves, every credit union has a story to tell. It is these unique stories that help to differentiate credit unions from other financial providers and to prove why we deserve to preserve CUs’ tax-exempt status.
     The League’s Governmental Affairs Committee is providing transportation to Washington on Tuesday, February 28, for our annual “Hike the Hill.” Now is the time to relay your stories to Senators Biden and Carper and Congressman Castle so that they will help to pass key legislative issues enabling CUs to continue to grow and serve more of the underserved.
     There will be two pick-up points – at the League office and on Route 299, off the Route 1 exit near Odessa. Pick-up times will be determined later, but we will arrive in Washington in time for a group luncheon briefing and then divide into teams for the annual visit. We will return home in mid-afternoon.
     If you are interested in going to Washington on February 28, please call or email Alice Smith (alice@dcul.org) by February 15.

Credit Unions Appear in “Book of Lists”
     The 2006 edition of The Business Ledger’s Book of Lists features a listing of all 36 credit unions in Delaware. The listing is sorted by credit union assets and also includes the following information: address, telephone/fax/website, number of members, name of board chair and CEO, and a short description of the fields of membership. Those CUs with branches are also indicated.
     “We are very pleased to work with The Business Ledger in producing this listing,” stated Alice Smith, League communications director. “Pulling together such a huge volume of information takes a long time, so the actual statistics provided are from June 30th NCUA statistics. A few minor changes will be published by the Ledger in March or April.”

COMPLIANCE RECAP

NCUA Releases 2006 Fee Operating Scale
     March will be the month federally insured credit unions will receive invoices for their 2006 operating fees and, if required, for the amount needed to adjust their National Credit Union Share Insurance Fund (NCUSIF) capitalization deposit to 1 percent of insured shares. In a letter to federally insured credit unions, the National Credit Union Administration (NCUA) last week released its 2006 operating fee schedule. The agency said the operating fee and the capitalization deposit adjustment will be based upon the assets and the insured shares, respectively, that credit unions report as of December 31, 2005. Combined payment will be due no later than April 17, 2006.

New Pennsylvania Law Affects Delaware Credit Unions
     As if there are not enough compliance challenges, Delaware credit unions must often abide by laws in the states in which their members reside. A prime example of this is in escheat reporting, and now there is a new law in Pennsylvania.
    On December 22, 2005, Governor Rendell signed Senate Bill No. 712, which was enacted into law as Act No. 94 of 2005. The new law requires any entity that maintains, stores, or manages computerized data that includes personal information to provide notice of any breach of its security system to affected PA residents. The need to address security system breaches places additional responsibilities on CUs, as well as other financial institutions.
     A summary of the more important provisions of Act No. 94 will be part of the next Delaware League “Compliance Recap.” A copy of the bill can be viewed on the Pennsylvania General Assembly's website at http://www.legis.state.pa.us/index.cfm by typing in SB 712.

NCUA 2006 Hot Exam Topics
     In addition to scrutinizing rigorous compliance with the Bank Secrecy Act, NCUA has outlined areas of concern and hot topics that examiners will be focusing on in 2006.

1. Regulation B – NCUA expects to focus on compliance with the Equal Credit Opportunity Act.
2. HMDA – For the first time ever, NCUA assessed civil money penalties in 2005 for HMDA violations, including filing of late reports. The Federal Reserve Board (FRB) does not consider HMDA data received until an error-free report is submitted. NCUA suggests that CUs file no later than Feb.15th in case corrections need to be made. The FRB does not make exceptions to the March 1 deadline.
3. Fair Lending – NCUA conducts a minimum of five Fair Lending exams annually in each region. NCUA reviews loan denials (gathered from HMDA data) to determine which CUs are to be examined.
4. Flood Insurance – NCUA examiners will assess compliance with the Flood Disaster Protection Act and NCUA’s Flood Insurance Regulation, 12 CFR 760.
5. Third Party Due Diligence – As more and more CUs offer products that pose a greater safety and soundness risk (sub-prime lending, loan participations, and indirect lending), NCUA will take a closer look at the due diligence performed by CUs prior to contracting services.

CU System News

League Organizing Another Spring Car Sale
     The Spring Car/Truck/SUV Sale will be held on April 27-29. Information packets have been mailed to CUs that participated in the Fall Sale. If your CU would like a packet or more information, contact Susan Fallon by phone or email susan@dcul.org. The two car sales held in 2005 generated $1 million in loans. Over the past 13 years, these sales have brought over $74 million in loans to Delaware CUs.

Allpoint Deadline Extended to Save Credit Unions Money
     The Delaware League has negotiated an extension of the Allpoint Surcharge-Free ATM Network discount pricing to March 15, 2006.  Allpoint offers members of participating credit unions over 32,000 surcharge-free ATM locations.  Twelve Delaware credit unions are currently on the Allpoint program at greatly reduced pricing. Gain a competitive advantage over other card issuers by joining the Allpoint network now before this offer runs out. Contact Jane Bailey at the League for more information.

CU Annual Meeting Giveaways Provide a Treat for Members
    If you’re planning your credit union’s annual meeting soon, don’t forget giveaways for your attendees. Items imprinted with your credit union logo and contact information are always appreciated by members and help keep your credit union’s name in their sight and on their minds. For ideas and information on advertising specialty items, contact Jane Bailey at the League.

Great Speakers at GAC This Year
     Ted Koppel, anchor of ABC’s acclaimed Nightline for 25 years, will be a featured speaker at CUNA’s 2006 Governmental Affairs Conference, which will be held on February 26-March 1 at the Washington Hilton in Washington, D.C. Koppel joins Washington Post investigative reporter Bob Woodward, columnist George F. Will, and Treasury Secretary John Snow on the GAC program.

BSA Training Special Offer
     In light of the fact that CUs are required to have annual Bank Secrecy Act compliance training, the League has several ways you can fulfill this training requirement. The League co-sponsors four BSA webinars with Verisure during the year. Currently Verisure has a special offer, wherein with a special registration fee of $1500, all four of the Verisure BSA compliance training series will be available for viewing by your staff an unlimited number of times for twelve months. Currently, each of the four sessions costs $125 to view. If you have a large number of staff members to train, this offer may save your CU training dollars. Verisure will also provide a certificate of training for each webinar viewing in which your CU participates. The sessions offered are:
W105   Bank Secrecy Act
W106   USA Patriot Act
W107   Completing Forms for CTRs & SARs
W108   Completing Forms for OFAC, FinCEN, & CTRs
To enroll, go to www.verisure.net and select the line “Fed Reg Special.”

Delawareans Attend CEO Summit
     This year’s regional CEO Summit, held in Naples, Florida, in January, provided an excellent forum for information sharing and networking for new CU leaders, as well as old CU friends. Among the first time attendees was Pat Mahaney, who noted that this event was one of his first official functions. In addition, Delaware Alliance CEO Dawn Sutcliffe and Diamond State CEO Paula Campbell returned for a second year. Naples will be the location again in 2007.

CUNA Mutual Plastic Card Fraud Expert Has Delaware Ties
     Christopher Ryan will fill the newly-created position of plastic card processor expert in CUNA Mutual Group’s Credit Union Protection products area. In this role, Ryan will lead efforts with card processors to develop and promote plastic card best security measures for policyowners, provide fraud prevention consultation, and work internally to develop strategies to reduce fraud losses. A graduate of the University of Delaware, Ryan most recently worked for Fair Issac, the Bank of New York in Wilmington, and TransUnion.

DELAWARE NOTES

League CEO Patrick Mahaney, accompanied by CUNA legislative affairs manager Linda Haer, attended an issues briefing breakfast hosted by Congressman Mike Castle in Washington on January 30.
 
Marie Davis, board chair of DEXSTA FCU, will serve a second two-year term on the Credit Union Legislative Action Council (CULAC) executive committee.

DOVER FCU has named Beth Milunas as branch manager of its Saulsbury Road office. She has over 17 years financial management experience, most recently as a loan officer with Sussex County FCU.

On December 19, members of DOVER FCU received a record 7.65% additional dividend due to earnings that exceeded the projections necessary to run the credit union for the year.

NCUA has approved DELAWARE FCU’s expansion to serve the city of Newark as part of the CU’s field of membership.

EMPLOYMENT POSTINGS

Collections Specialist Position. Full-time position available at the Georgetown branch of Delaware State Police FCU. Please submit resume to Blanche Jackson, EVP, Delaware State Police FCU, P.O. Box 800, Georgetown, DE 19947. Telephone: (302) 856-3501. Deadline: February 17, 2006.

The Delaware League offers member credit unions the opportunity to list classified advertisements for positions they are seeking to fill. Listings should be submitted to Ruth Lawley at the League for publication in the next TOGETHER newsletter. In addition, the advertisement will be placed on the League’s website for a period of six month or until the credit union notifies the League that the position has been filled.

EDUCATIONAL OPPORTUNITIES

February QuickBites Teleconferences
One-hour sessions – 11 a.m.-noon
                2/07         Health Savings Accounts
                2/23         Creating Effective Teams
90-minute session – 11 a.m.-12:30 p.m.
                2/14         Safe Deposit Security and Liability
Two-hour session –11 a.m.-1 p.m.
                2/16         Patriot Act, OFAC, Financial Privacy, Bank Secrecy Act
The fee for the one-hour sessions is $99, the 90-minute class is $109, and the two-hour session is $169. Deadline to register: one week prior to the session. Call Bernadette to enroll.

One-Hour BSA Compliance Webinars
These courses are now being offered in an “on demand” format – hook into them at the time and place you choose. Plus the next set of live webinars:
     BSA Training
       2/2; 3/16                 CTR/SAR Forms Completion
       2/7; 3/21                 OFAC, FinCEN, CTR Forms
       3/9                           Bank Secrecy Act
       3/14                         USA Patriot Act
Each session begins at 2 p.m., and the fee is $125. For more information, phone Don Baumann of the co-sponsor Verisure at (315) 638-4334.

Cards Council – Wednesday, February 15, from 10 a.m.-noon at the League office. Topic for discussion: “Charge-backs,” plus a networking opportunity.*

Marketing Council – Wednesday, February 22, from 10 a.m.-noon at the League office. Topic: “Community Involvement at Delaware Credit Unions.”*
* All council meetings are free to registered council members. Non-members are encouraged to attend for a $75 fee. Please register no later than one week before the event by calling Ruth Lawley.

North Law Firm Webinar – “Denial of Services and Expulsion of Members” – Thursday, February 23, from 1-2:30 p.m. at your own CU. Fee: $125 per telephone connection if paid for by credit card. To enroll, go to www.culaw.com.

CUNA’s Governmental Affairs Conference –

February 26-March 1 at the Washington Hilton. Registration fee is $779. CUs under $20M in assets pay half price. For program information, visit www.cuna.org and look for GAC 2006.