 |
Whats
New
Many
great things are happening these days at Louisiana Corporate.
We also have some great new products and services, which are
featured below.
Corporate Access Services - Friday, July 3, 2009 To: All Member Credit Unions From: David Savoie, CEO Date: June 29, 2009 Re: Corporate Services Access – Friday, July 3, 2009 Louisiana Corporate’s office will close at 12:00pm CST on Friday, July 3, 2009. Access to automated systems, i.e. Open Door and Apex will be available as usual. Transactions entered after 12:00pm on July 3rd which require corporate intervention will be processed on Monday morning, July 6th. E-mails and voicemails received after 12:00pm on July 3rd will also be accessed on Monday, July 6th. Please contact Sherrie Klotz, SVP-Operations at 1-800-421-7030 or sherrie@lacorp.com if you have any questions or we can be of any assistance. Have a fun and safe 4th of July weekend from the staff of Louisiana Corporate!
NCUA's CLF CU SIP and HARP Programs December 15, 2008Dear Member: On December 10th, the National Credit Union Administration, (NCUA) announced two new plans to stimulate liquidity within the credit union system and to help credit union members that are in danger of losing their homes through default or foreclosure. The first plan is the Credit Union System Investment Program (CU SIP) and the second is the Credit Union Homeowners Affordability Relief Program (CU HARP). Through CU SIP, participating creditworthy credit unions would borrow from the Central Liquidity Facility (CLF) and invest the proceeds in participating corporate credit unions. For participation in this program, the credit union receives a spread of 25 basis points. The funds will be used to enhance liquidity in the corporate credit union network, including U.S. Central Federal Credit Union (US Central). The SIP notes, with terms of up to one year, are fully guaranteed by the National Credit Union Share Insurance Fund (NCUSIF). The idea is to increase liquidity at corporate credit unions that need it by generating an inflow of relatively stable, low-cost liquidity that corporates could use to retire other debt. Fortunately, Louisiana Corporate continues to have ample liquidity to serve our members, and we will not be asking the NCUA to consider placing CU SIP funds with us. However, Louisiana Corporate members that are interested in strengthening the credit union system by purchasing CU SIP notes may still contact us and we will be happy to facilitate that transaction for you with the CLF. In regard to CU HARP, we also will be facilitating this program for any credit union that may wish to participate. The HARP program is intended to break the repeating cycle of delinquency, default, foreclosure, and diminished home prices. Under the HARP program, credit unions will help eligible members hold onto their homes. We encourage you to join the free conference calls/webinars being offered by CUNA and NAFCU that will explain these programs in depth. I’ve indicated the times below for each: 1) CUNA – Tuesday, Dec. 16th from 11:00 a.m. to noon ET. Space is limited to the first 1000 participants. To sign up, CUNA affiliated credit unions should send an e-mail to: CUNARegulatoryAdvocacy@cuna.com. 2) NAFCU – Tuesday, Dec. 16th from 1:00 p.m. to 2:30 p.m. ET. To register, any credit union should go to www.nafcu.org/NCUAupdate. While Louisiana Corporate is not in a position to need deposited funds from the CLF to pay down any debt, we certainly encourage you to participate in one or both of these credit union programs for reasons that may include: • Helping your members avoid default and foreclosure on their homes.
• Helping your credit union avoid future loan losses.
• Increasing your earnings by utilizing the SIP and CLF to add liquidity and to strengthen the entire credit union system. Finally, let me add that Louisiana Corporate continues to have a strong financial year, in spite of the crisis that continues to grip the nation’s financial services sectors. We will continue to keep you updated as events and conditions warrant, but as always, I welcome you to contact us if you have questions or concerns. For questions about participating in the CU HARP or CU SIP programs, please contact me at (504) 838-8250. Thank you for your continued support. Sincerely, David A. Savoie /e David A. Savoie, CPA, CFE
President/CEO SHARE DRAFT PROCESSING NOW AVAILABLE! Louisiana Corporate is proud to present Share Draft Processing! We have partnered with Palmetto Cooperative Services,Inc. to create a great service at a very competitive price. Palmetto Cooperative Services is endorsed by three state Credit Union Leagues for Share Draft Services. LaCorp is pleased to join Palmetto's growing list of corporate credit union business partners. Items processed by Palmetto Services conveniently settle in your Louisiana Corporate settlement account. This outstanding service can be seamlessly combined with our existing Palmetto Services Branch Capture product to add image capture to your share draft capabilities. Now, Louisiana Corporate is excited to offer this to our member credit unions. Give us a call today to inquire about how we can get you started! 2009 LOUISIANA CORPORATE HOLIDAY SCHEDULE The following is Louisiana Corporate's Holiday Schedule for 2009:New Year's Day January 1
Martin Luther King, Jr. Day January 19
President's Day February 16
Mardi Gras Day February 24
Memorial Day May 25
Labor Day September 7
Columbus Day October 12
Veterans' Day November 11
Thanksgiving Day November 26
*We will close at 2:00 pm on Friday, Nov. 27
*We will close at 2:00 pm on Thurs., Dec. 24
Christmas Day December 25
*We will close at 2:00 pm on Thurs., Dec. 31 California Wildfire Disaster Aid through the NCUF 
BRANCH CAPTURE SERVICES FROM LACORP! Branch Item Capture Gaining Momentum
If your credit union is one that took a “wait and see” approach to Branch Item Capture and Electronic Image Exchange, it may be time for you to take a closer look. Credit unions of all sizes are realizing the significant advantages that this new technology offers. As the cost to process and transport paper checks continues to escalate, all credit unions should consider implementing an image-based check clearing solution. At Louisiana Corporate Credit Union, we have established a relationship with Palmetto Cooperative Services, Inc. (PCS), which allows us to offer an affordable, turn-key solution for Branch Item Capture. PCS is a credit union owned CUSO, based in South Carolina. They have partnered with Corporate Credit Unions in the Carolinas, Virginia, West Virginia and Louisiana, to provide item processing services for credit unions everywhere.
Since the passage of the Check Clearing for the 21st Century Act (Check 21) over 2 years ago, a lot of work has been done to develop and perfect the technologies needed for Electronic Image Exchange. According to the Federal Reserve, during November, 2006, more than 12.3 million check images were exchanged between financial institutions every day. PCS processes Electronic Cash Letters for more than 80 credit unions. Their volume of check images presented for forward collection will soon surpass a million items a month. Some of the benefits that credit unions enjoy with Branch Item Capture and Electronic Image Exchange include: 1) Improved Availability of Funds – The Federal Reserve reports that items presented electronically receive approximately 98% next day availability of the funds. That compares to 80% for paper-based items.
2) Elimination of Courier Fees – Since check images are forwarded and collected electronically, there is no need to move your checks on planes, trains and automobiles.
3) Improved Return Timeframes – Items presented electronically can be returned to you much faster than traditional paper-based items.
4) Improved Fraud Detection – Faster clearing times will help all financial institutions reduce their exposure to deposit fraud.
5) Optical Archive –Check images are stored electronically for easy retrieval over a secure internet connection. To learn more about Louisiana Corporate’s Branch Item Capture and Electronic Image Exchange product, contact Sherrie Klotz at 1-800-421-7030. She would be happy to provide additional information and help you identify the cost savings that this technology can provide. Online Data Backup - eliminate the need for offsite tapes 
Backup your system with FirstBackup
SimpliCD - The better way to buy insured CD's! WWW.SIMPLICD.ORG
CU Business Group, LLC Louisiana Corporate's business partner, CU Business Group, LLC, provides services to 53 credit unions in 12 states, ranging in size from $5 million to $3 billion in total assets. Services include complete programs and consulting for business loans, working capital credit lines, SBA loan programs, business checking and money market accounts, merchant credit and debit card programs, policies for business services, and regulatory compliance. Please contact us for additional information. SimpliCD Rates Posted to Web Daily Rate indications for SimpliCD, our popular brokered Certificate of Deposit program, are now posted to the rates section of Lacorp.com on a daily basis. LaCorp has over seven years of experience in the administration of this program and can get you started today. Simplify your investing with SimpliCD! CUWEB.ORG Webhosting and Design Services Your credit union can have a professionally designed website in the time it takes to fill out a two page form. All hosting and design details are handled through Louisiana Corporate. Prices starting at a $200 set-up fee and $10 a month. Please call David Savoie for more info at 800-421-7030. Equifax Credit Monitoring - Guard against Identity Theft 
Maestro ALM Risk Monitoring from Louisiana Corporate Maestro ALM Risk Monitoring is a state of the art, NEV based ALM modeling system exclusively for credit unions. Maestro represents the current thinking in ALM and is a significant improvement over limited capacity GAP based models. Please contact David Savoie at LaCorp or CNBS.
View sample reports by clicking on the Maestro logo on our home page. Electronic Bill Pay Available through Louisiana Corporate Louisiana Corporate has partnered with MyCU Services, Inc., to offer Electronic Bill Payment (EBP) and home banking services to Louisiana Corporate member credit unions. This service is available in Louisiana exclusively through Louisiana Corporate. For more information, contact David Savoie at (800)421-7030 and see our EBP web page at Louisiana Corporate Electronic Bill Pay SimpliCD Louisiana Corporate is among the only credit unions in America to offer SimpliCD (pronounced "simplicity"), the better way to buy certificates. Many credit unions spend hours calling various banks and thrifts to inquire about rates or spend thousands of dollars each year for "express" rate software. Now credit union managers can purchase certificates at competitive rates with just one phone call...
|
|