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Summary

Board of Directors Meeting

April 25, 2008

 

Affiliation

• Affiliation ratio is 93%, which is the highest in the history of the Louisiana Credit Union League.

 

Governmental Affairs

• The CUNA GAC was held in March; we had 97 attendees attending, represented 26 credit union.
• Our State GAC will be held May 20 – 21 in Baton Rouge at the Embassy Suites Hotel.

 

League Leadership/Special Projects

• We currently have 49 credit unions participating in Project Zip Code. Credit Unions will receive the latest version during the month of May and will be asked to run or update their membership number for advocacy purposes.
• Infosight, LCUL’s new searchable compliance website, went live in January.  As of 3/3l/08 Infosight received 3,600 hits.
• To date, 44 credit unions have invested in the CIF, with a total of over $10 Million invested.
• The Real Solutions program has been launched; we have had the 1^st and 2^nd partner meetings. The top three areas identified by the partners are; payday lending alternatives, reaching the youth/young adult market and providing reloadable debit cards for members.

 

Marketing/Public Relations

• The league’s newly redesigned website, www.lcul.com, was launched in January.

 

Education/ Professional Development

• The Leadership Cruise was held March 27-31, 2008; we had 386 attendees, representing 37 credit unions, including 48 attendees from Georgia representing 6 credit unions.
• Credit Union contacts November 2007 to March 2008

o        LCUL continues active in the field with 302 on-site visits.

• The LCUL on-site trainer conducted 44 sessions, covering many topics such as BSA and Security.
• The Education Department hosted 4 seminars/conferences with attendance of 170 from 113 credit unions.
• The Education Department hosted 19 Teleconferences & Webinars with 90 participating credit unions.
• The Compliance Department responded to 340 contacts from credit unions.

 

CU Cooperative Branching, Inc.

• Louisiana continues to serve as a leader in the shared branching arena. Louisiana currently has 81 service center and outlet locations and ranks 6^th in overall transactions for the CUSC network.

 

Treasurer’s Report

• The overall year end financial projections exceed target budget net income due to the return of CUSC stock to LCUS, Inc and a special one year program in which we engaged with CMG. No other unusual or any material variances to report.

 

Other

• A resolution was unanimously passed by the Board in memory of Carolyn Ricks. This resolution will be presented to the membership at our annual meeting in August.