Outlook

President’s Message
By Daniel F. Egan, Jr.

The American Bankers Association (ABA) and the Independent Community Bankers Association (ICBA) have joined forces in opposition to the proposed increase in the credit union member business lending cap contained in S.2231, The Small Business Lending Enhancement Act of 2011. The Senate leadership has placed S.2231 on the Senate calendar, which means it can be brought to the floor of the Senate at any time for a vote. In reaction to this move, the ABA and ICBA have been inundating Senate offices with misleading and inaccurate information in order to prevent a vote on the bill.
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Legislative and Regulatory

New Hampshire Legislative Reception

The New Hampshire Credit Union League Board of Directors, along with credit union CEOs, directors, and staff, hosted a Legislative Reception on Tuesday, April 24, at the law offices of Rath, Young, Pignatelli in Concord. Members of the New Hampshire House Commerce Committee and Senate were greeted by more than 30 credit union attendees during the event.
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Fed amends reserve and item collection regulations (D and J)
The Federal Reserve Board recently announced the approval of a final rule to simplify the administration of reserve requirements and reduce administrative and operational costs for depository institutions and Federal Reserve Banks. The rule does not affect the stance of monetary policy.
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ACI op-ed: MBL cap inhibits competition, hurts small business
American Consumer Institute (ACI) Center for Citizen Research President Steve Pociask, in an editorial recently published in The Hill newspaper, said the only "unlevel playing field" in the fight between credit unions and banks regarding increased member business lending (MBL) is that credit unions are subject to an MBL cap that prevents them from lending to small businesses.
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NCUA reminds of dos-and-don'ts of compensating loan originators
Credit unions that make closed-end residential mortgage loans will have "new flexibility" regarding how they compensate some of their loan originators, the National Credit Union Administration (NCUA) said in a letter (12-RA-03).
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NLRB poster mandate postponed again
In light of conflicting decisions at the district court level, the DC Circuit Court of Appeals has temporarily enjoined the National Labor Relation Board’s (NLRB) rule requiring the posting of employee rights, which had been scheduled to take effect on April 30, 2012.
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CUNA details how CFPB could address ATM issue
The Consumer Financial Protection Bureau (CFPB) has "more than sufficient authority" under the Dodd-Frank Wall Street Reform Act and the Electronic Fund Transfer Act to amend Regulation E and eliminate the requirement for on-machine ATM fee disclosure notices, Bill Cheney, president/CEO of the Credit Union National Association (CUNA), said in a recent letter to the agency. (Click here to see the full text of the CUNA CFPB Letter)
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Fed releases interchange survey
The Federal Reserve's interchange study, as required by the Dodd-Frank Act, was released on May 1, 2012.
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CFPB extends deadline for overdraft information
Interested parties now have until June 29 to provide information to the Consumer Financial Protection Bureau (CFPB) about overdraft protection plans and how they affect consumers.
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CU News

League providing new rate mapping tool

The New Hampshire Credit Union League is excited to announce a new resource now available through our website for all members: RateMap. This unique mapping tool provides access to key interest rates for a selection of the most commonly offered deposit and loan rates in your backyard and across the country and is brought to credit unions in collaboration with League InfoSight and RateWatch.
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2012 Compensation and Benefit Survey in process at our credit unions
Have you participated yet!? 2012 is the International Year of the Cooperative with people all across the globe celebrating a business model that has worked for credit unions since their inception over 100 years ago. It is in this spirit of cooperation that we are hoping for record-breaking participation in our Compensation and Benefit Survey.
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St. Mary’s Bank Credit Union celebrates the opening of new branch office, education center

St. Mary’s Bank Credit Union, the nation’s first credit union, celebrated the opening of its new branch office and education center in Manchester with a ribbon cutting ceremony attended by New Hampshire Bank Commissioner Ronald A. Wilbur and Manchester Mayor Ted Gatsas. St. Mary’s Bank Credit Union President and CEO Ronald H. Covey hosted the event, which included a tour of the newly renovated, 31,000-square-foot facility.
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Granite State Credit Union announces Robert E. Mercer Volunteerism Award recipient

Granite State Credit Union held its Annual Meeting of the Membership on March 28, at Fratello’s Ristorante Italiano in Manchester. In the spirit of credit unions’ founding philosophy of “people helping people,” Granite State Credit Union introduced an annual award in honor of Robert E. Mercer, who served over thirty years as a volunteer on their Supervisory Committee. The award was created to recognize a staff member that epitomized volunteerism and represents a charitable organization that benefits groups of individuals or supports one of many New Hampshire communities.
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NH Federal Credit Union held 70th Annual Meeting
NH Federal Credit Union held its 70th Annual Meeting & Member Appreciation Night on March 28. The meeting began at 6:50 P.M. at the Courtyard by Marriott in Concord. Over 275 NH Federal Credit Union members were in attendance to review the credit union’s operations from 2011 and to elect four members to the volunteer Board of Directors.
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Community Involvement

Service Credit Union sponsors KMC Biggest Loser fitness competition

Ramstein Air Base, Germany - Over 300 individuals throughout the Kaiserslautern Military Community made a commitment to better their fitness levels and overall health by joining the 2012 KMC Biggest Loser Competition.

Sponsored by Service Credit Union, the 12-week competition featured 125 active duty members, many of whom were able to achieve personal best scores on their required physical training tests. Other participants included military dependant family members, retirees, and on-base civilian employees.
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Valuable lessons for school: How to live within your means

More than 400 eighth-grade students from Rundlett Middle School in Concord made real-life decisions to help teach them financial skills during the CU 4 Reality™ Financial Literacy Fair on April 18 and 19 at America's Credit Union Museum in Manchester.

Sponsored by NH Federal Credit Union in conjunction with America's Credit Union Museum, the program uses an in-class curriculum during the school year to teach participants important skills that will equip students to handle money responsibly, set and adhere to budgets, and avoid the pitfalls of debt.
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Service Credit Union donates to the Rochester Child Care Center

For more than a decade, Service Credit Union has contributed to the Rochester Child Care Center. This year the credit union donated $1,000. Service Credit Union Chief Financial Officer Scott Wensley recently presented the check to Rochester Child Care Center Executive Director Christiane Casserly. Approximately 300 children, from six months to school age, attend the Rochester non-profit facility.
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Events

New Hampshire Annual Meeting and Convention
“Grow Your Credit Union” – June 15 -17, 2012

Growth is a factor that is central to the long term viability of every business. Economic conditions over the past few years have presented challenging growth opportunities for credit unions. Membership has grown, but, the question remains how to grow consistently every year and fulfill the ever changing financial needs of current and future members.
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Business Solutions

Credit unions' auto lending market share at 17.4%

After hitting a monthly low of 15.2% in March 2011, credit union auto lending market share has climbed, maintaining above 17% each month since May 2011, according to CUDL's quarterly Auto Lending Trends & Credit Union Analysis.

CUDL, part of Ontario, California-based CU Direct Corp., presented the findings in a webcast March 27 that outlined key metrics on auto financing trends for credit unions and competing financial institutions, provided a fourth-quarter 2011 credit union auto lending market analysis and discussed auto manufacturer and sales trends.
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CO-OP Financial Services introduces CO-OP Bill Pay
Online bill pay line stems from CO-OP’s acquisition of eCom

CO-OP Financial Services is introducing CO-OP Bill Pay, the company’s first online bill pay product line for credit unions, featuring competitive pricing, superior service and product option flexibility.

“CO-OP Bill Pay is the result of our acquisition, in January, of Corporate Network eCom, LLC, enabling us to offer our clients a robust line of bill pay products right now,” said Stan Hollen, president/CEO of CO-OP Financial Services. “The new line is a perfect extension of our e-commerce solutions, and will help our clients compete even more effectively against banks in terms of access and convenience services they can offer their members.”
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Credit Union People

Granite State Credit Union names Naro Senior Vice President

Granite State Credit Union (GSCU), Manchester, recently promoted Timothy M. Naro to Senior Vice President of Lending & Branches. Naro, whose career with GSCU has spanned 19 years, was previously Vice President of Lending.

“This move unites the Branches, Call Center, and Lending Department under one division, thus strengthening the overall branch and lending experience for our members,” notes Denise L. Caristi, president and CEO of Granite State Credit Union. “Tim’s active role on our Senior Management team, as well as that of service within the NH Credit Union League, keep him abreast of current trends in service as well as the unique lending needs of our members.”
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Service Credit Union announces two AVPs for Member Services


Beaulieu	Martell

Service Credit Union President/CEO Gordon Simmons announced the recent appointments of Matt Beaulieu and Richard Martell as Assistant Vice Presidents of Member Services.
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Calendar

Holiday

The League office will be closed Monday, May 28, in observance of Memorial Day. The League’s regular office hours are Monday through Friday 8:00 a.m. to 5:00 p.m.

League Calendar
For a listing of upcoming League programs and events, click here.

Careers

Job Postings
For a complete list of current job postings, click here.

If you would like to have your job listed on the League’s website, please submit to jobs@cucenter.org.

Published by New Hampshire Credit Union League

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