Weekly Update

  Volume 26, Issue 7 • February 17, 2017
League testifies on first two bills of the Legislative Session 
On Tuesday, February 14th, your League presented its first testimony of the Maine legislative session on a bill seeking to create a state-owned bank and a bill that would require notice of inactive accounts by registered mail. Your League opposed both bills and Elise Baldacci, Director of Governmental Affairs, testified on behalf of the League. Read more
Results of 2016 Ending Hunger Campaign covered by a variety of media outlets across state

WABI TV 5, which is the top-rated news station in the Bangor market, included a piece on the record-setting total raised by the Maine CUs' Campaign for Ending Hunger in several of its newscasts, one of many media outlets to highlight the Campaign's success.

In the days following the announcement that the Maine Credit Unions' Campaign for Ending Hunger achieved a new record by raising $674,193.48, for ending hunger in 2016, the achievement has received significant attention from various media outlets across Maine. In addition, thanks to a generous contribution by Synergent, a full-page, color ad highlighting the results and with a list of every Maine credit union appeared in the February 12 issue of The Maine Sunday Telegram. Read more
In re-introducing Senior$afe legislation, Senator Collins cites a Maine CU's work in preventing elder financial abuse

In highlighting the importance of the Senior$afe program in Maine, Senator Collins invited Rob Carmichael, SVP at Maine Savings FCU, to speak at an event in Augusta to build support for national legislation to protect seniors from elder financial abuse.

Recently, Senator Collins re-introduced the Senior$afe Act of 2017 (S.223), and the Senator highlighted the work of Maine's credit unions in keeping seniors' finances safe. While introducing the bill, Senator Collins gave an example of how a Maine credit union was instrumental in preventing elder financial abuse. Among the early Senate co-sponsors of the bill is Senator King. Read more
Sound-Off entry deadline nears; Young & Free Maine Spokester busy promoting it on Morning Radio 
The deadline for entries in the 2017 Young & Free Maine Sound-Off competition is nearly here. To help spur last-minute submissions, Young & Free Maine Spokester, Jake Holmes, has been a frequent visitor to morning radio shows across Maine. "Of course, the primary focus of Jake doing these interviews is to highlight Sound-Off, but it's also a great opportunity to engage listeners in the program and build awareness for credit unions," said Debra Trautman, Vice President of Corporate Marketing for the Maine CU League. Read more
League seeking entries for Dora Maxwell, Louise Herring and Desjardins State Awards program 
From making a difference in the community to member education and financial literacy, Maine credit unions embrace the 'people helping people' philosophy of credit unions throughout the year. Now, the Maine CU League is encouraging Maine CUs to receive some recognition for those efforts by submitting an entry(ies) in one or all of the State Awards program categories. Submissions for the Dora Maxwell, Louise Herring and the Desjardins Youth and Adult Awards are now being accepted. The online website to submit entries is now live. Read more
Business continuity plans, technology help Maine CUs weather the storms 
In a matter of less than a week, many parts of Maine cumulatively received 2-3 feet of snow, the result of a series of winter storms. While Mainers are used to dealing with snow, the timing of storms can make even the heartiest avoid going outside. Because of an increased focus on business continuity planning (BCP) and providing the latest technology that allows consumers to conduct most financial transactions from the comfort of their own homes, the League and Maine's credit unions were well-prepared to serve members, despite blizzard conditions. Read more
Risk Management Webinar Series Kicks Off with Developing an Enterprise-Wide Risk Assessment 
The webinar, Developing an Enterprise-Wide Risk Assessment, on Tuesday, February 21, from 3:00 p.m. to 4:30 p.m., will go through a step-by-step process to develop risk assessments to address key areas of your institution. Learn how to develop an enterprise-wide process to conduct risk assessments in a practical, sustainable, and easy-to-understand way. You will receive useful tools and examples that can be implemented immediately Read more
League Webinar to Present Flood Compliance in Lending Part 1: Loan Origination 
Mitigate your flood compliance risk by joining us on Wednesday, February 22, from 3:00 p.m. to 4:30 p.m., for the webinar, Flood Compliance in Lending Part 1: Loan Origination, which will cover technical rules, disclosure requirements, initial escrow disclosure for flood insurance, loan origination compliance requirements, and FAQs outlined by the CFPB. Read more
Collection Law Essentials 101 
The webinar, Collection Law Essentials: Legalities, Landmines & More, on Thursday, February 23, from 3:00 p.m. to 4:30 p.m., will focus on the primary regulatory and legal requirements surrounding collecting delinquent accounts. From the Fair Debt Collection Practices Act to the Fair Credit Reporting Act to the Uniform Commercial Code to Fair Lending, you must understand the rules of the evolving collections landscape. In addition, this session will teach you about the many landmines in the collection process and how they impact operations, vendors, and borrowers. Join your League to learn immediate action steps that will ensure your institution is prepared for increasing regulatory scrutiny. Read more
Synergent Webinar Starts at the Beginning with Episys Parameters 
Venturing into Episys Parameter Manager can be daunting, especially if you’re new to the system or haven’t worked on parameters in a while. Synergent Technology Services will break down everything you need to know in the webinar, Episys Parameters: From the Beginning, on Wednesday, February 22, from 9:30 a.m. to 11:00 a.m. Read more
Weekly Update - A Publication For The Maine Credit Union League