March 2006 - Georgia Credit Union Affiliates

March 2006
6705 Sugarloaf Parkway, Suite 200
Duluth, GA 30097
www.gcua.org
New Investment Analyst
Joins Corporate
Georgia Central has hired Ben Lemoine as
Investment Analyst. He will be responsible for
marketing and maintaining our ALM tools
(ALMonitor and PALMS). He will also assist our
members with their investment needs, helping them
find the best investment products suited for their
credit union. Ben is a recent graduate of the
University of Georgia where he obtained a Bachelor
of Business Administration with an emphasis in
Economics. Even though this is Ben’s first position
out of college, he has held numerous internships here and in
Germany, giving him a taste of what the investment arena is like.
“I am excited about having Ben in the Investment Department
because he brings with him an eagerness to learn about credit
unions and financial markets. I believe his easy-going personality
will be a great fit with our members,” said Sarina Freedland, Director
of Investment Sales.
770-476-9625
800-768-4282
Member Survey Results Are In!
Member surveys were sent this past
December to more than 400 members,
including presidents and other credit union
executives. We received responses from
109 individuals and are pleased to report
that the scores for 2005 increased in nearly
every category from the previous year. The
averages for all responses were well within
the satisfied range (5-7 on a 1-7 scale), the
vast majority of which fell into the top two
rankings (satisfied/very satisfied). Respondents also provided
comments throughout the survey, which were by and large highly
complimentary. These comments were then passed along to the
appropriate staff for follow up. We wish to thank everyone who
took the time to complete their survey. For a complete summary
of the results, we invite you to visit our Web site at
www.gacentral.org and click on the Member Survey Results
article under News and Events.
Upcoming Market & Investment Update
Conference Calls
Be sure to mark your calendar and join our Investment Services
Department every other Tuesday for the Market & Investment Update
Conference Call. Typical content includes economic highlights, yield
curve analysis, investment product recommendations and information
about current regulatory issues by our qualified Investment Services
team.
Upcoming Conference Calls
March 21st
April 4th and 18th
May 2nd, 16th & 30th
Calls begin at 10:30 am and generally last 30 minutes. The dial-in
number is (800) 930-1353; no pass code is required. For more
information, please contact a member of the Investment Services
Department at (770)476-9704, ext. 5.
Member$MART Goes Live March 20th!
At the opening of business on March 20th, Georgia
Central’s conversion from CCUN and Open Door to CynRG and
Member$MART will be complete. We are confident that this
conversion will be smooth in light of our successful mock
conversion and the success of 43 training sessions which were
held around the state during the past month. If you have any
questions about Georgia Central’s conversion and how it impacts
your credit union, please contact your Business Development
Manager.
2006 Annual Meeting & Convention
This year’s Annual Meeting and Convention is being held
May 3rd-6th at the Hyatt Regency Hotel in Savannah. This
year’s conference is starting a day earlier and the improved
format features expanded educational programs.
Conference highlights include:
Wednesday, May 3rd
Georgia CUPAC Golf Tournament at the Westin
Georgia Central Member Appreciation Moonlight Riverboat
Cruise
Thursday, May 4th
Georgia Central Product and Social Reception
Friday, May 5th
Educational Sessions
Focus on Business Members: Opportunities for Growth by
Serving Small Businesses
Jim Gallagher, President, Member Business Solutions, LLC
We look forward to seeing you there!
March 2006
March 2006
6705 Sugarloaf Parkway, Suite 200
Duluth, GA 30097
www.gcua.org
770-476-9625
800-768-4282
NCUA Vice Chairman Hood Visits Georgia Credit Unions
NCUA Board member and Vice Chairman Rodney Hood visited Georgia on February 22 to learn more about
Georgia credit unions efforts to serve those of modest means.
Hood first stopped by Gwinnett Federal Credit Union, where more than 40
employees gathered to share information about the credit union’s outreach
programs, which include service to the Bosnian population, financial training
seminars, and Credit-Able, a statewide loan guarantee program that enables
the credit union to offer competitive financing to the disabled community for
assistive technology. According to Gwinnett Federal Credit Union President and
CEO, Marshall Boutwell, “We are always bumping into opportunities to do the
right thing.”
Hood next toured Georgia Credit Union Affiliates (GCUA), where he learned about
the Georgia-Polish People-to-People Partnership, a collaboration formed in 1995
to establish cooperation for the benefit of the Poland and Georgia credit union
movements. GCUA President & CEO, Mike Mercer also introduced Hood to the CU
GROW Campaign, an initiative that connects participating credit unions with financial literacy training resources
and helps consumers fulfill their service needs through the GettingAhead Association. The GettingAhead
Association, a key component of the CU GROW Campaign, represents a collaboration of trusted community
partners, including participating Georgia credit unions that work together to help Georgians lower their cost of
living. Hood also visited Georgia Central Credit Union, whose mission is to enhance the success of its member
credit unions.
Mike Mercer, Rodney Hood,
Marshall Boutwell
Hood’s visit concluded at Georgia Federal Credit Union (GFCU), where staff
presented information on the credit union’s extensive financial literacy training efforts,
which include a speaker’s bureau, numerous volunteer programs and participation in
the Partners in Education initiative. In 2005, GFCU received national recognition for
its outreach efforts by placing second in the Dora Maxwell Recognition program.
According to Kim Wall, Vice President of Marketing for GFCU, “Our primary focus is
service to our members and the communities in which they live. We were pleased to
have the opportunity to share with NCUA the various ways our credit union
demonstrated the credit union difference.”
Mike Mercer, Rodney Hood, Kim Wall
Serving youth is critical for credit
unions to grow, and Youth
Week is a great opportunity to
welcome youth and to introduce
them to the benefits of credit
union membership in a fun,
festive environment. CUNA has
made it easy for credit unions to create awareness of
Youth Week celebrations and youth financial literacy
efforts with ready-to-use materials. For more
information, visit http://www.cuna.org/initiatives/
youth/youth_week.html.
NCUF recently announced that Georgia’s GettingAhead
Association has been awarded a $50,000 grant to fuel the
initiative’s efforts to help Georgians lower their cost of living.
The GettingAhead Association is a collaborative effort between
participating Georgia credit unions, nonprofit organizations and
public agencies such as Cobb Microenterprise Center,
Consumer Credit Counseling Service of Greater Atlanta,
Georgia Credit Union Affiliates, and Georgia Department Labor.
The Association works to increase financial literacy and
facilitate wise financial choices through an extensive online
resource center. Additionally, the initiative helps fulfill
consumer service needs by connecting Association members
with trusted consumer service providers.
Consumers can join the Association for an annual membership
fee of $5. Membership entitles participants to an electronic
newsletter, access to the comprehensive online resource
center and connects members to community partners, including
participating credit unions. The NCUF grant will be used to
significantly expand the Association’s capacity to assist
consumers in lowering their cost of living.
To date participating GettingAhead Association partner credit
unions include CORE Credit Union, Delta Community Credit
Union, Georgia Telco Credit Union, Gwinnett Federal Credit
Union, MACO Educators Federal Credit Union, and
MemberFirst Credit Union. The Coca-Cola Family Employees
Credit Union is also a charter Association partner. Several
additional Georgia credit unions partnerships are pending.
Hood, who was in Atlanta to attend a Neighborhood Reinvestment Cooperation
event, noted that his visit with Georgia credit unions produced several innovative outreach models that have the
potential of being replicated throughout the country.
National Credit
Union Youth WeekTM
April 23-29, 2006
NCUF Announces $50K Grant for
Georgia’s GettingAhead Association
Deadline for IRS Form 990 Rapidly
Approaches for State Charted CUs
State chartered credit unions have until May 15, 2006 to
submit Form 990 to the IRS. As in the past, the League will
file a group tax return on behalf of state chartered credit
unions that have signed and returned (to the League) a Letter
of Engagement.
Letters of engagement were mailed to state chartered credit
unions in February and establish an understanding between
the League and the credit union regarding responsibility for
the group tax return. To be included in the group filing,
a signed Letter of engagement must be received by the
League by April 15, 2006.
If you have any questions regarding the group return, please
contact Stacey Moody at (770) 476-9625, extension 3463.
GCUA, ICUL & Certegy Offer Alternative
for Branch Issued Gift Cards
If your credit union is interested in offering branch issued gift
cards, a new partnership between GCUA, ICUL & Certegy
makes it easier than ever. Details of this innovative way to
expand service to members are listed below. For more
information, please contact Maureen Bock at (770) 476-9625,
extension 3437.
*Card Expiration Term - 24 months
*Card Activation Required (card number and CVV)
*Minimum/Maximum Load - $25/$500
*No ATM Access and No PIN POS Transactions
*Blocked Transactions – Hotel, Auto Rental and Gas “Pay At The Pump”
*Monthly Maintenance Fee - $3.00 per Month Beginning in the 7th Month After
Card Activation
*Reissue Fee - $10 (restrictions to reissuing cards exist and the gift card should
be treated as cash for the most part)
*No Implementation Fee and No Ongoing Monthly Fees
*Cost of Plastic $1.00, Plus Shipping (minimum order of
25 plastics per design)
*Takes Only a Few Weeks to Implement and Have Cards
Shipped to Your Branch
(All pricing and program descriptions are correct as of October 2005.)
2006 Governmental Affairs
Conference Another Success
Georgians joined a record 4,300 credit union
volunteers, employees and League staff in
Washington for the recent CUNA Governmental
Affairs Conference (GAC). Representatives from
the League and Georgia credit union professionals
wrapped up their GAC 2006 experience with
Capitol Hill visits with the state’s Congressional
delegation. They addressed several key credit
union issues, including the general Reg. Relief bill
and Credit Union Regulatory Improvements Act
(CURIA, H.R. 2317). Georgians also addressed
banker attacks on the credit union movement and
said all segments of the financial services industry
should be working together to address problems
such as data security, identity theft and excessive
regulation.
March 2006
6705 Sugarloaf Parkway, Suite 200
Duluth, GA 30097
www.gcua.org
770-476-9625
800-768-4282
NCUA Vice Chairman Hood Visits Georgia Credit Unions
NCUA Board member and Vice Chairman Rodney Hood visited Georgia on February 22 to learn more about
Georgia credit unions efforts to serve those of modest means.
Hood first stopped by Gwinnett Federal Credit Union, where more than 40
employees gathered to share information about the credit union’s outreach
programs, which include service to the Bosnian population, financial training
seminars, and Credit-Able, a statewide loan guarantee program that enables
the credit union to offer competitive financing to the disabled community for
assistive technology. According to Gwinnett Federal Credit Union President and
CEO, Marshall Boutwell, “We are always bumping into opportunities to do the
right thing.”
Hood next toured Georgia Credit Union Affiliates (GCUA), where he learned about
the Georgia-Polish People-to-People Partnership, a collaboration formed in 1995
to establish cooperation for the benefit of the Poland and Georgia credit union
movements. GCUA President & CEO, Mike Mercer also introduced Hood to the CU
GROW Campaign, an initiative that connects participating credit unions with financial literacy training resources
and helps consumers fulfill their service needs through the GettingAhead Association. The GettingAhead
Association, a key component of the CU GROW Campaign, represents a collaboration of trusted community
partners, including participating Georgia credit unions that work together to help Georgians lower their cost of
living. Hood also visited Georgia Central Credit Union, whose mission is to enhance the success of its member
credit unions.
Mike Mercer, Rodney Hood,
Marshall Boutwell
Hood’s visit concluded at Georgia Federal Credit Union (GFCU), where staff
presented information on the credit union’s extensive financial literacy training efforts,
which include a speaker’s bureau, numerous volunteer programs and participation in
the Partners in Education initiative. In 2005, GFCU received national recognition for
its outreach efforts by placing second in the Dora Maxwell Recognition program.
According to Kim Wall, Vice President of Marketing for GFCU, “Our primary focus is
service to our members and the communities in which they live. We were pleased to
have the opportunity to share with NCUA the various ways our credit union
demonstrated the credit union difference.”
Mike Mercer, Rodney Hood, Kim Wall
Serving youth is critical for credit
unions to grow, and Youth
Week is a great opportunity to
welcome youth and to introduce
them to the benefits of credit
union membership in a fun,
festive environment. CUNA has
made it easy for credit unions to create awareness of
Youth Week celebrations and youth financial literacy
efforts with ready-to-use materials. For more
information, visit http://www.cuna.org/initiatives/
youth/youth_week.html.
NCUF recently announced that Georgia’s GettingAhead
Association has been awarded a $50,000 grant to fuel the
initiative’s efforts to help Georgians lower their cost of living.
The GettingAhead Association is a collaborative effort between
participating Georgia credit unions, nonprofit organizations and
public agencies such as Cobb Microenterprise Center,
Consumer Credit Counseling Service of Greater Atlanta,
Georgia Credit Union Affiliates, and Georgia Department Labor.
The Association works to increase financial literacy and
facilitate wise financial choices through an extensive online
resource center. Additionally, the initiative helps fulfill
consumer service needs by connecting Association members
with trusted consumer service providers.
Consumers can join the Association for an annual membership
fee of $5. Membership entitles participants to an electronic
newsletter, access to the comprehensive online resource
center and connects members to community partners, including
participating credit unions. The NCUF grant will be used to
significantly expand the Association’s capacity to assist
consumers in lowering their cost of living.
To date participating GettingAhead Association partner credit
unions include CORE Credit Union, Delta Community Credit
Union, Georgia Telco Credit Union, Gwinnett Federal Credit
Union, MACO Educators Federal Credit Union, and
MemberFirst Credit Union. The Coca-Cola Family Employees
Credit Union is also a charter Association partner. Several
additional Georgia credit unions partnerships are pending.
Hood, who was in Atlanta to attend a Neighborhood Reinvestment Cooperation
event, noted that his visit with Georgia credit unions produced several innovative outreach models that have the
potential of being replicated throughout the country.
National Credit
Union Youth WeekTM
April 23-29, 2006
NCUF Announces $50K Grant for
Georgia’s GettingAhead Association
Deadline for IRS Form 990 Rapidly
Approaches for State Charted CUs
State chartered credit unions have until May 15, 2006 to
submit Form 990 to the IRS. As in the past, the League will
file a group tax return on behalf of state chartered credit
unions that have signed and returned (to the League) a Letter
of Engagement.
Letters of engagement were mailed to state chartered credit
unions in February and establish an understanding between
the League and the credit union regarding responsibility for
the group tax return. To be included in the group filing,
a signed Letter of engagement must be received by the
League by April 15, 2006.
If you have any questions regarding the group return, please
contact Stacey Moody at (770) 476-9625, extension 3463.
GCUA, ICUL & Certegy Offer Alternative
for Branch Issued Gift Cards
If your credit union is interested in offering branch issued gift
cards, a new partnership between GCUA, ICUL & Certegy
makes it easier than ever. Details of this innovative way to
expand service to members are listed below. For more
information, please contact Maureen Bock at (770) 476-9625,
extension 3437.
*Card Expiration Term - 24 months
*Card Activation Required (card number and CVV)
*Minimum/Maximum Load - $25/$500
*No ATM Access and No PIN POS Transactions
*Blocked Transactions – Hotel, Auto Rental and Gas “Pay At The Pump”
*Monthly Maintenance Fee - $3.00 per Month Beginning in the 7th Month After
Card Activation
*Reissue Fee - $10 (restrictions to reissuing cards exist and the gift card should
be treated as cash for the most part)
*No Implementation Fee and No Ongoing Monthly Fees
*Cost of Plastic $1.00, Plus Shipping (minimum order of
25 plastics per design)
*Takes Only a Few Weeks to Implement and Have Cards
Shipped to Your Branch
(All pricing and program descriptions are correct as of October 2005.)
2006 Governmental Affairs
Conference Another Success
Georgians joined a record 4,300 credit union
volunteers, employees and League staff in
Washington for the recent CUNA Governmental
Affairs Conference (GAC). Representatives from
the League and Georgia credit union professionals
wrapped up their GAC 2006 experience with
Capitol Hill visits with the state’s Congressional
delegation. They addressed several key credit
union issues, including the general Reg. Relief bill
and Credit Union Regulatory Improvements Act
(CURIA, H.R. 2317). Georgians also addressed
banker attacks on the credit union movement and
said all segments of the financial services industry
should be working together to address problems
such as data security, identity theft and excessive
regulation.
March 2006
6705 Sugarloaf Parkway, Suite 200
Duluth, GA 30097
www.gcua.org
New Investment Analyst
Joins Corporate
Georgia Central has hired Ben Lemoine as
Investment Analyst. He will be responsible for
marketing and maintaining our ALM tools
(ALMonitor and PALMS). He will also assist our
members with their investment needs, helping them
find the best investment products suited for their
credit union. Ben is a recent graduate of the
University of Georgia where he obtained a Bachelor
of Business Administration with an emphasis in
Economics. Even though this is Ben’s first position
out of college, he has held numerous internships here and in
Germany, giving him a taste of what the investment arena is like.
“I am excited about having Ben in the Investment Department
because he brings with him an eagerness to learn about credit
unions and financial markets. I believe his easy-going personality
will be a great fit with our members,” said Sarina Freedland, Director
of Investment Sales.
770-476-9625
800-768-4282
Member Survey Results Are In!
Member surveys were sent this past
December to more than 400 members,
including presidents and other credit union
executives. We received responses from
109 individuals and are pleased to report
that the scores for 2005 increased in nearly
every category from the previous year. The
averages for all responses were well within
the satisfied range (5-7 on a 1-7 scale), the
vast majority of which fell into the top two
rankings (satisfied/very satisfied). Respondents also provided
comments throughout the survey, which were by and large highly
complimentary. These comments were then passed along to the
appropriate staff for follow up. We wish to thank everyone who
took the time to complete their survey. For a complete summary
of the results, we invite you to visit our Web site at
www.gacentral.org and click on the Member Survey Results
article under News and Events.
Upcoming Market & Investment Update
Conference Calls
Be sure to mark your calendar and join our Investment Services
Department every other Tuesday for the Market & Investment Update
Conference Call. Typical content includes economic highlights, yield
curve analysis, investment product recommendations and information
about current regulatory issues by our qualified Investment Services
team.
Upcoming Conference Calls
March 21st
April 4th and 18th
May 2nd, 16th & 30th
Calls begin at 10:30 am and generally last 30 minutes. The dial-in
number is (800) 930-1353; no pass code is required. For more
information, please contact a member of the Investment Services
Department at (770)476-9704, ext. 5.
Member$MART Goes Live March 20th!
At the opening of business on March 20th, Georgia
Central’s conversion from CCUN and Open Door to CynRG and
Member$MART will be complete. We are confident that this
conversion will be smooth in light of our successful mock
conversion and the success of 43 training sessions which were
held around the state during the past month. If you have any
questions about Georgia Central’s conversion and how it impacts
your credit union, please contact your Business Development
Manager.
2006 Annual Meeting & Convention
This year’s Annual Meeting and Convention is being held
May 3rd-6th at the Hyatt Regency Hotel in Savannah. This
year’s conference is starting a day earlier and the improved
format features expanded educational programs.
Conference highlights include:
Wednesday, May 3rd
Georgia CUPAC Golf Tournament at the Westin
Georgia Central Member Appreciation Moonlight Riverboat
Cruise
Thursday, May 4th
Georgia Central Product and Social Reception
Friday, May 5th
Educational Sessions
Focus on Business Members: Opportunities for Growth by
Serving Small Businesses
Jim Gallagher, President, Member Business Solutions, LLC
We look forward to seeing you there!
March 2006