Show Me the Money: Grants, Awards, Rebate and other News
March 24, 2015 5:07 PM
NCUA Offers Webinar On Grant Initiatives
ALEXANDRIA, Va.NCUA will hold a webinar to help credit unions seeking to apply for the next round of grants from the agency.
Entitled "NCUA 2015 Grant and Loan Opportunities," the webinar will take place at 2 pm (EDT) April 15.
Speakers at the webinar will include Dominic Carullo, an economic development specialist with NCUA's Office of Small Credit Union Initiatives; Geetha Valiyil, comptroller, Office of Small Credit Union Initiatives; and David Fitzgerald, national account director at the Illinois Credit Union League.
The speakers will discuss the grant application process and the four grant initiatives that the NCUA will fund: cybersecurity, building capacity branching, digital growth and new products and services.
The webinar presentation will be followed by a 30-minute question-and-answer session.
Also, Lynn Gray, CEO of the $42 million Remington Federal Credit Union of Ilion, N.Y., and Lowell Stevens, CEO of the $76 million Latah Federal Credit Union of Moscow, Idaho, will discuss their experiences using grant funds to introduce mobile banking applications and remote deposit capture services to their memberships.
Second Annual Empowerment Awards Application Process Opens
WASHINGTONThe application process has begun for the second annual Empowerment Awards, which recognize projects that increase access to responsible banking services in underserved markets throughout the United States.
The awards have two categories: community development banking, which is focused on institutions registered as CDFIs, and access, which is for CDFIs, non-profits, and small to mid-size entrepreneurs.
Projects are evaluated based on their effectiveness, innovation, impact and sustainability, as well as for leadership and governance, and each winner receives a $100,000 prize and pro bono consultations with Promontory Financial Group, which sponsors the awards.
Gene Ludwig, founder and CEO of Promontory, said in a statement that the awards are meant to encourage projects that have the power to "improve the financial well-being of underserved communities. With more than one in four American households either unbanked or under-banked, there is much work to be done."
The winners of last year's awards were announced in February, with BankPlus, an independent community bank in Mississippi winning the Community Development Banking category for a program focused on small-dollar, short-term loan alternatives to payday lending, while nonprofit incubator City First Enterprises won in the access category for an online platform for community-oriented investment.
Applications for the 2015 awards are due June 12, and more information is available at
League of Southeastern CUs Announces Dues Rebate
The League of Southeastern CUs is set to return a dues rebate to its members, marking more than $1 million returned to member CUs in the past three years.
The 6.7% rebateor $232,000is thanks to strong performance by the league and its league services corporation, LEVERAGE, the league said.
"Our streamlined operations, excellent educational offerings, and another good year from LEVERAGE all worked together to make this dues rebate possible," LSCU and Affiliates president and CEO Patrick La Pine said in a statement. "The more credit unions that participate and do business with the League and LEVERAGE directly correlates to the success of all of our member credit unions."
Eligible credit unions will receive their rebate in the form of a paper check sometime during April. A few stipulations apply:
Credit unions must have paid their league dues in full by March 31
CUs that weren't affiliated in previous years can receive a rebate in 2015, but all dues must be paid in full by March 31
CUs granted dues waivers or reductions in 2014 are not eligible for a dues rebate.
LSCU began its dues rebate in 2013, returning a percentage of dues paid to eligible member credit unions, and $1 million has been returned to CUs in Alabama and Florida since then, along with an additional $300,000 for CUs that participate in LEVERAGE's CO-OP debit card program.
CUES Promotes From Within For Interim CEO Position
MADISON, Wis.Dawn Poker has been named as interim CEO of the Credit Union Executives Society (CUES), following the departure of Patrick Fagan last week to take the helm at PSCU.
Poker, CUES' SVP and chief sales and member relations officer, received high praise from the organization's board in a statement.
"We selected Dawn to take on this responsibility because of her deep institutional
knowledge of CUES, her broad range of contacts within the credit union movement, and her
amazing dedication to this organization," Caroline Willard, CUES board chair and EVP of markets and strategy at CO-OP Financial Services said in a statement. "We have faith that Dawn and our senior management staff will form a strong transitional team so that CUES doesn't miss a beat."
Willard added that JMFA has already begun searching for Fagan's permanent replacement.
Poker has been with CUES since 2007, serving as VP of conferences and institutes and SVP/chief learning officer. Prior to coming to CUES she ran her own strategic planning firm, D3 Results, specializing in the hospitality and tourism industry. She has also held the position of EVP of the Washington DC Convention & Tourism Corporation and executive director of the American Experience Foundation.
In a statement, Poker emphasized the opportunity that lay before her at the helm of CUES.
"I'm excited for this opportunity to work closely with the board of directors, the CUES team and our partners during this transition to ensure we continue our momentum of remaining the industry's vital source for talent development," she said.
Truliant FCU To Open 10 Charlotte Branches, Launches $100K Social Media Campaign
WINSTON-SALEM, N.C. Truliant Federal Credit Union, a $1.78-billion institution based in Winston-Salem, announced that it plans to open 10 new branches in the Charlotte area by the end of 2016, raising the number of "member financial centers" to 14 in the region.
Truliant said that the expansion will create more than 120 jobs and bring an $11 million dollar initial investment into the regional economy over the next two years.
"Our success in Charlotte will be judged one member at a time by those who benefit from thoughtful guidance that strengthens their personal financial balance sheet," said Marc Schaefer, president and CEO of Truliant in a statement. "Truliant's success is measured by the number of lives we improve."
In tandem with the new branch openings, Truliant said it is launching a $100,000 social media campaign that will award four individuals $25,000 each. Under the "MyWhy" project, contestants will be asked how a $25,000 cash infusion can help them achieve their goals in life.
Entrants can upload or record a 15-second video to explain how the credit union can help them achieve their dreams.
Or they can download the Truliant #MyWhy App for Apple or Android smart phones. Entrants may also submit entries via #MyWhy @Truliant on Twitter and Instagram.
"This initiative celebrates all the reasons that make us want to improve our own lives and the lives of our families," Schaefer added. "Whether you need more space for your growing family, an SUV to haul your children or funds for your college education."
Secure Your Hard Drives'World Backup Day' Set For March 31
MIDDLETOWN, Pa.Data security professionals are advising credit unions and consumers to back up their information in preparation for "World Backup Day," set for March 31.
The annual event, which began in 2011, is "a humorous but important way to warn businesses and consumers to back up their files," said Howard Stein, COO at MY CU Services here. "March 31 was chosen because there are usually rashes of pranks people tend to pull the first of AprilApril Fool's Day."
World Backup Day organizers estimate that as much as 30% of consumers don't back up their data. Similarly, almost half of the companies surveyed by Rand Secure Data experienced disruptive power outages that caused 81% of them to close down for at leat one day.
MY CU Services CEO Drew Kishbaugh reminded that data backup is crucial for FIs.
"Credit unions must have a foolproof method of securely backing up financial reporting information and member data," he said in a statement, adding that "businesses that don't routinely backup their data cite the reason as 'it didn't seem like an efficient use of time.'"
More information about World Backup Day is available at
