MCUL 2007 Executive Summit Bridge to the Future Leadership Issues Dialog Presented by David Adams,...

MCUL 2007 Executive SummitBridge to the Future

Leadership IssuesDialog

Presented by David Adams, Michigan Credit Union League

and Peter Gates, Michigan Schools & Government Credit Union

Bridge to the FutureBridge to the FutureMCUL 2007 Executive SummitMCUL 2007 Executive Summit

Bridge to the FutureBridge to the FutureMCUL 2007 Executive SummitMCUL 2007 Executive Summit

Sponsored by


Key Issues Facing Credit UnionsKey Issues Facing Credit Unions1. Membership Growth2. Older Membership3. Loan Growth4. Innovation5. New IT Architectures6. Earnings7. Payment Systems8. Security9. Business Lending10.Legislation/Regulation


Membership GrowthMembership Growth


1) Membership Growth1) Membership Growth

• Since 2000, U.S. annual membership growth has averaged 1.9% and is expected to remain at that level barely keeping up with the U.S. population growth

• Switching to community charters has added millions of eligible members, in fact 54% of the roughly 78 million nonmembers say they are eligible to join but have not

• The key to attracting potential members in their peak borrowing years is attracting Gen Y—consumers age 18 to 30. Gen Y is one of the largest demographic groups in the U.S. with 45 million people, or 15% of the population



6.5%

2.9%3.1%

1.9%

3.7%

5.5%

5.9%

2.6%

3.1%

1.9%

1.1%

2.5%

3.0% 3.0%

2.5%

2.9%

1.8%1.5%

1.1%1.4%

4.1%

2.5%2.8%

2.2%2.3%

2.9%2.9%

0%

1%

2%

3%

4%

5%

6%

7%

8%

80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 '00 '01 '02 '03 '04 '05 '06

CU membership U.S. population

Source: NCUA and CUNA

Ann

ual g

row

th r

ate

Year

CU Membership & U.S. Population Growth



9.09.711.516.8

31.6

78.6

0

10

20

30

40

50

60

70

80

18-34 35-44 45-54 55-64 65 + Total

Source: CUNA’s 2006-2007 Survey of Potential Members

Number of Potential Members in U.S. By Age(millions)



Sources: CUNA’s 2006-2007 Survey of Potential Members

31%

63%

24%

15%

24%

20%

13%

11%

19%

2%

16%

41%

21%

0%

20%

40%

60%

80%

100%

Truly loyal Moderately loyal Minimally loyal Not very loyal Not at all loyal

Eligible nonmembers

who use banks

Members who useonly CUs

All CU members

Loyalty Levels


• 7% or 28 CUs exceeded 10%, average assets $121,402,857

• 6% or 24 CUs between 5%-9.99%, avg. assets $83,069,593

• 27% or 101 CUs between 0%-4.99%, avg. assets $114,685,480

• 60% or 223 CUs had negative growth, avg. assets $65,739,148

• Lower growth generally in smaller asset CUs but the differences aren’t dramatic. Some large asset CUs also have small membership growth


7%6%

27%

60%

>10% 5 - 9.99%0 - 4.99% <0%

Source: Callahan’s Peer-to-Peer

2006 Michigan Membership Growth



MI Success StoryFirst Area Credit Union – 12.21% Growth • Exceptional member service

– Addressing members by first name– Sending birthday cards to members– Monitoring papers for special occasions

such as retirements and sending cards

• Opened branch in area with little competition


Older MembershipOlder Membership


2) Older Membership2) Older Membership

• The average age of members continues to rise and is now 47 compared to 43.3 just 12 years ago

• Credit unions are in the midst of a major decline in peak borrowers – members age 25 to 44

• The percentage of membership in this group has declined from 48% in 1996 to 38% in 2006

• This demographic shift has worked against credit unions for about 7 years and will continue at least through 2010


38%41%42%

45%47%48%

49%49%51%

55%

0%

10%

20%

30%

40%

50%

60%

1985 1989 1992 1994 1996 1998 2000 2002 2004 2006


Sources: CUNA National Member Survey Reports and CUNA Member Statistics.

(estimate)

Percent of CU Members Age 25-44



There have always been ATM machines

Social Security system has always been on the brink of collapse

Have never experienced a real recession

They have always had access to e-mail

Electronic filing of federal income taxes has always been an option

Computers have always fit in their backpacks

“Ctrl+Alt+Del” is as basic as “ABC”

Source: 2003 – 2007 Beloit College Mindset List

Mindset of 18–24 Year Olds


13%

18%

25%

21%

17%

6%

11%

12%

15%

21%

23%

18%

0% 5% 10% 15% 20% 25% 30%

65 +

55-64

45-54

35-44

25-34

18-24

Eligible nonmembers

Members


Source: CUNA’s 2006-2007 Survey of Potential Members

Age Distribution of Members and Eligible Nonmembers



39%

54%

32%

49%

61%

23%

0% 10% 20% 30% 40% 50% 60% 70%

If eligible, is notfamiliar with Cus

If not a member, iseligible to join

Is a CU Member

Consumers 18-34

All Consumers

CU Membership Status & Awareness of CUs

Source: CUNA



Michigan Develops Young Credit Union Members• During the 2005-2006 school year, Michigan credit

union staff led the nation educating more than 45,000 students with more than 2,300 presentations on personal finance and in the operation of student run credit union branches

• MCUL Family Involvement Council created the “Credit Union School Branch Handbook,” a nationally used step by step guide to starting a student run branch

• Nearly 30 credit unions pledged financial support of Experiencia’s Exchange City in Taylor, designed to teach 5th grade students about personal finance, business fundamentals and entrepreneurship. According to students, the best job in Exchange City is the manager of Exchange City Credit Union



MI Success StoryCP Federal attracting younger members• Leads the nation in the number of

student run credit union branches with over 40 in Jackson area schools

• CP staff regularly conducts classroom presentations on financial literacy in conjunction with their school branches


Loan GrowthLoan Growth


3) Loan Growth3) Loan Growth

• U.S. credit unions experienced double-digit loan growth in five of the past seven years

• Loan growth in 2006 dropped to 8.7% and is expected to drop to 6% in 2007

• Rising interest rates, increased savings and weak pent-up demand are contributing factors


6.0%

8.0%

11.0%10.8%10.0%

7.5%7.0%

10.9%10.6%

0%

5%

10%

15%

1999 2000 2001 2002 2003 2004 2005 2006 2007

Sources: CUNA’s economics & statistics

An

nu

al p

erce

nta

ge

chan

ge

(estimate)




• Three target markets identified for loan growth– Adults age 18 – 30– Hispanics and Latinos– Small business owners

• Financial products and services are commodities, and true differentiation will be driven by value innovation that enhances a member’s total experience with a lender. Value is created by moving beyond product silos, anticipating members’ life-stage and life-style needs, and bundling loan products accordingly.


Source: U.S. Census Bureau

13%

53%

24%

1%

9%

12%

71%

12%

1%

4%

BlackAsianNon-Hispanic WhiteHispanicOther

2000 2050

Credit Union Growth & Shifting Demographics 2000-2050




Sources: CUNA’s 2006 Hispanic Task Force survey

22%

22%

28%

15%

9%

9%

10%

14%

5%

13%

6%

6%

4%

5%

17%

19%

15%

15%

13%

5%

19%

19%

15%

19%

16%

15%

28%

35%

29%

45%

56%

67%

88%

85%

2%4% 6%

0% 20% 40% 60% 80% 100%

$1B or more

$500M-$1B

$200M-$500M

$100M-$200M

$50M-$100M

$10M-$50M

$2M-$10M

Less than $2M

Yes Yes Yes Yes No --have special program in place

--in the process of starting a program

--plan to begin process within next 12 months

--plan to begin process but not within next 12 mos.

--unlikely to make special effort to serve this market

Ass

ets

CU Plans to Serve Hispanics/Latinos


• 17% or 64 CUs exceeded 10%, average assets $92.0M

• 19% or 73 CUs between 5%-9.99%, avg. assets $98.3M


• 40% or 147 CUs had negative growth, avg. assets $57.3M

• Lower growth generally in smaller asset CUs


17%

19% 24%

40%

>10% 5 - 9.99%0 - 4.99% <0%

2006 Michigan Credit Union Loan Growth




CU Success StoryConsumers Credit Union – 16.89% Loan Growth

• Lending is an attitude and is developed with strong training and coaching

• Lending driven organization from the top down

• Believes a CU must grow members for loans and does not pay a premium on deposits unless it will be lent out

• Loan portfolio in three categories (Business, Consumer and Mortgage) with an employee champion for each

• Business lending is a must, direct or participation


InnovationInnovation


4) Innovation4) Innovation

• This is something many financial institutions talk about but few deliver. Yet innovation will be a key driver of value and differentiation in the new financial services economy as financial services become commodities

• Using pricing as your primary strategic differentiator continues to become less effective as competitors make convenience and delivery channels more important

• Differentiation among lenders will require value innovation that enhances a member's total financial services experience

• Through insightful member relationship strategies, product bundling, and cross-selling initiatives, credit unions can nurture relationships that result in increased wallet share in the future"



The Filene Research Institute created i3 as a working group of diverse innovative, insightful and energetic credit

union professionals • Identify and evaluate recent credit union innovations

which – meet member needs/wants – lower costs and increase credit union operational efficiencies – build member loyalty – meet the special needs of member segments – enhance credit union effectiveness

• Develop and implement new innovative ideas which address major issues, problems and opportunities facing credit unions

• Identify and evaluate innovations in other organizations which could be adopted by credit unions

• Provide a forum for cooperation, collaboration, professional development and industry succession planning



CU Success Story• Greater El Paso CU Savings Sweepstakes

– Savings program allowing members to win prizes, the more they save, the more chances they have• Helps members build wealth• Educates members about savings and investing

– GECU choose six families to compete against each other and mentored each family to help them save


New IT ArchitecturesNew IT Architectures


• The top information technology (IT) initiatives for consumer lenders in 2007 and 2008 will be to transform core lending systems and IT architecture, and to develop tools to reach untapped markets

• Credit unions are investing in technologies that will help them attract more members and get current members using more services

• Attaining a competitive advantage requires a measured, balanced approach to risk vs. security measures

• More than 50% of consumers would switch companies if their personal information were compromised

5) New IT Architectures5) New IT Architectures



• Data management is the backbone of your credit union and will require more integrated and sophisticated database and reporting systems

• New IT architectures are emerging that will help give your members a consistent experience across all delivery channels and make it easier to develop strategies for attracting new members, and for cross-selling products and services to existing members– Service-Oriented Architecture (SOA)– Business Intelligence – Web 2.0



Service-Oriented Architecture (SOA)

• What it is…– A strategic design approach that ties your systems around

specific business functions

• Why it is important…– Targets information and functionality to a specific need

(e.g. loan management), regardless of what systems provide them, to

• Improve member responsiveness• Operational efficiencies• Savings by reducing errors

• What it does…– Allows you to become less dependant on individual

systems and standardizes and simplifies the screens users use



Business Intelligence (BI)• What it is…

– Applications and technologies which are used to gather, provide access to, and analyze data and information about your operations

• Why it is important…– Helps management track key performance metrics and

make better informed decisions

• What it does…– Compiles data from across the organization in the form

of dashboards, scorecards, reports, analytic applications and data mining

•Source: http://en.wikipedia.org/wiki/Business_intelligence



• Web 2.0• What it is…

– Second generation of the World Wide Web that is focused on the ability for people to collaborate and share information online

• Why it is important…– New service delivery and communication channels for

members, especially with younger demographics, and tools to facilitate staff collaboration and information sharing

• What it does…– Uses new Web technologies such as blogs, social

networking, wikis, podcasts, RSS feeds, Web APIs, Web standards and online Web services to facilitate information sharing in a very dynamic and interactive fashion

Source: http://www.webopedia.com



CU Village Services• Customer programming services

– Database development and integration– Application development– Web interface and reporting– XML programming

• CU Campus– New destination for credit unions to collaborate,

share and learn• Podcasting• Social Networking• Multimedia and custom development

services


EarningsEarnings


6) Earnings6) Earnings

• U.S. credit union ROA has fallen steadily over the past four years from 1.06% in 2002 to 0.83% in 2006

• Credit union return on assets is projected to fall to 0.65% in 2007 - 2008

• A weak economy, high debt levels, and slower home-price appreciation will produce overall savings growth of around 7% at credit unions in 2007 and 2008

• Credit union will continue to seek “member friendly” non-interest income


Economic Forecast 5-Yr Avg 2006 2007 2008

Economic growth 2.9% 3.3% 2.0% 2.5%Inflation (% change in CPI) 2.7 2.5 2.0 2.0Core inflation 2.0 2.6 2.2 2.0Unemployment rate average 5.4 4.6 4.8 5.4Fed funds rate average 2.46 4.99 5.05 4.510-yr Treasury bond average 4.40% 4.79% 4.66% 4.8%

Credit Union Outlook 5-Yr Avg 2006 2007 2008

Savings growth 6.6% 4.2% 7.0% 7.0%Loan growth 9.7 7.8 6.0 6.0Asset growth 7.4 4.6 6.9 6.9Membership growth 1.9 1.4 2.0 2.0Loan-to-share ratio 75.8 82.3 81.8 81.0Delinquency rate ($, 60+ days) 0.74 0.68 0.75 0.80Net charge-off rate 0.52 0.47 0.59 0.60Return on average assets (ROA) 0.93 0.83 0.65 0.65Net worth ratio 11% 11.5% 11.4% 11.3%

Source: CUNA economics & statistics, April 2007



• 24% or 89 CUs exceeded 1.0%, average assets $81.7M

• 35% or 136 CUs between 0.5%-0.99%, avg. assets $101.2M

• 28% or 104 CUs between 0.0%-0.49%, avg. assets $86.2M


• Lower earnings generally in smaller asset CUs


13%

35%

28%24%

>1.0% 0.5 - 0.99%0.0 - 0.49% <0%

2006 Michigan Credit Union ROA



• 8% or 31 CUs exceeded 10%, average assets $111.0M




• Lower growth generally in smaller asset CUs


8%

13%24%

55%

>10% 5 - 9.99%0 - 4.99% <0%

2006 Michigan Credit Union Share Growth



323324

361

337

330

300

310

320

330

340

350

360

370

2002 2003 2004 2005 2006

Basis points of average assets

Source: CUNA

Margins did not cover operating costs

CU Net Interest Margins and the Importance of Non-Interest Income




CU Success StoryForest Area Credit Union – ROA of 2.05%• Very strong lending philosophy that lending is

the best way to be profitable• Maintain high loan/share ratio at 98.30%• Has high concentration of mortgages and

utilizes secondary market to manage liquidity• Strong stable employee base with high morale• Strong Net Worth of 15.55 allowing fees and

loan rates to remain low


Payment SystemsPayment Systems


• Revenue from payment systems was $224 billion in 2005 for financial institutions – more than any other line of business

• The most significant trend over the past five years has been the rapid growth of electronic payments—debit cards, credit cards, and ACH transactions

• Thousands of businesses are adopting remote deposit capture. As credit unions seek out new revenue sources, RDC can put them at the forefront of improved member service while increasing the credit unions bottom line

7) Payment Systems7) Payment Systems



Debit cards,

7%

Credit cards, 20%

Cash, 19%

Checks, 47%

Other, 7%

Sources: Industry Reports, BAC Finance, FiServ

Debit cards, 15%

Credit cards, 26% Cash,

13%

Checks, 36%

Other, 10%

2000 = $5.5 trillion 2006 = $6.8 trillion

The Changing Payments Mix



Source: Dove Consulting

Biller, 11%

Paper check, 49%

Automatic Payment,

21%

Bank/CU, 13%

Cash, 3%Money

Order, 3%Online Bill Payment

24%

Recurring Bill Payment

Electronic payments now comprise 45% of all recurring bill payments

Use of paper

checks is down

from 72% in 2001



39%33% 32% 33%

18%18% 15% 11%

22%21%

21%19%

2%4%

11%15%

16% 19%

10% 11% 15% 14%

2%

0%

20%

40%

60%

80%

100%

1999 2001 2003 2005Cash Check Credit card

Gift/prepaid card PIN debit Signature debit

Sources: Dove Consulting’s 2006-2007 Study of Consumer Payment Preferences

In-Store Payments


7) Payment Systems7) Payment Systems• Remote Deposit Capture (RDC) enables credit

unions to capture the wide variety of teller documents in a different processing environment, including truncation of items at the branch without further processing– It increases efficiency and facilitates a reduction in the

number of courier runs– Saves both time and money– Eliminates the need for microfilm at branch locations due

to the fact that the images are captured and retained at the remote location

– Reduces float expense– Allows financial institutions to extend remote location

hours/or cut-off times– Credit unions can provide same day credit to its members– Reduced fraud losses


SecuritySecurity


8) Security8) Security

Is Trust still our competitive advantage?

• IT departments spent roughly $61 billion on security in 2006 to satisfy regulators and to protect consumers’ financial data. The high cost of protection appears to be worth it—surveys show that 50% of consumers would switch service providers if their personal information were compromised

• Security Breaches – in 2006 over 300 reported data security incidents involving over 100 million accounts (Privacy Clearing House)





New Areas of Security Focus• What Has changed?

– No longer can the Hacker be the primary concern!

– Lost/Stolen PC’s and Backups– Insider Theft– Dumpster Diving – Improper Display



New Areas of Security Focus

“Ohio changes policies after massive data theft. Disk with info on 64,000 state employees was

taken from intern’s car”Columbus, Ohio - A 22-year-old intern was given the

responsibility of safeguarding the personal information of thousands of state employees, a security procedure that ended up backfiring.The names and Social Security numbers of all 64,000 Ohio state employees were stolen last weekend from a state agency intern who left a backup data storage device in his car, Gov. Ted Strickland said. “

Associated Press June 16, 2007



Although the Government and Education has more incidents. Financial Services has a much

greater quantity of records and potential impact!





How does this change from what we have done in the past?

• Change from a reactive, problem based approach to a proactive preventative approach

• View security from Multiple perspectives

• Increase the flexibility of the credit union to respond to changing security needs

• Create an ongoing effort to maintain and improve the security programs and postures


Business LendingBusiness Lending


9) Business Lending9) Business Lending

• CUNA estimates the number of credit unions offering business services is approaching 2,000

• Business/Commercial Lending will be one of the best growth opportunities for credit unions over the next several years

• Extending their services to offer the same level of service to its business member base will position CUs strategically to gain market share

• Credit unions can earn the loyalties of business owners within their fields of membership since 52% of small-business owners are “less than very satisfied” with their current banking relationships



• Significant investments in training, hiring and technology will be required for credit unions to be competitive. For this reason, business lending CUSOs are the fastest growing segment of CUSOs

• Once a credit union decides to offer business lending, they will begin to establish a niche and target the types of business loans they want



• Small business owners are looking for assistance with their lending needs, convenience and the ability to have their entire relationship with one company

• Credit unions will be able to position themselves to increase deposits as a result of commercial loans and differentiate themselves from other competitors

• Crucial for the success of business lending will be to offer other business services such as the following:

• Business Checking• Interest Bearing Accounts• Sweep Accounts• Cash Management Accounts

• Merchant Processing• Payroll Services• Business Credit/Debit Cards• Co-branded/Affinity Cards


57%

43%

39%

61%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Less than "verysatisfied"

"Very satisfied"

CU-PFI business owners

Bank-PFI business owners

Source: CUNA’s “Business Services Survey” benchmarking database

Business Owners’ Overall Satisfaction With Their Providers



3%

37%

47%

56%

62%

70%

3%

30%

52%

55%

69%

5%

55%

62%

75%

75%

0% 10% 20% 30% 40% 50% 60% 70% 80%

Other

Acquisition/development loans

Construction loans

Non-owner-occupied business property

Income-producing investment property

Owner-occupied business property

Other

Letters of credit

Business credit cards

Unsecured lines of credit

Secured lines of credit

Other

Unsecured loans

Equipment loans/leases

Vehicle loans

Secured loans

Lines of credit

Term loans

Real estate loans

Source: CUNA’s 2007 Business Services Survey

Note: Figures are limited to CUs offering business services.

CUs Offering Member Business Loans



Source: CUNA’s 2007 Business Services Survey

1%

1%

1%

2%

6%

8%

16%

17%

23%

26%

27%

35%

40%

41%

57%

61%

0% 10% 20% 30% 40% 50% 60% 70%

Personal checking accounts for employees

Merchant credit card processing

Retirement planning

Brokerage services

Credit life insurance

Payroll processing

Wealth management

Life/key-person insurance

Property insurance

Casualty insurance

E-commerce

Equipment leasing

Courier processing

Armored car services

Repurchase agreements

Other

Note: Figures are limited to CUs offering business services, excluding loans.

CUs Offering Business Services9) Business Lending9) Business Lending


Legislative / RegulationLegislative / Regulation


10) Legislative / Regulation10) Legislative / Regulation

• Banking interests have changed tactics, pulling back on taxation and attacking CUs on their record of community service in an effort to impose regulations such as the Community Reinvestment Act on CUs

• Data security is a high priority for credit unions and in Congress. Credit unions are particularly concerned with member notification of breaches and the ability to hold responsible parties accountable for losses


• The change of leadership in Congress will not have a significant effect on credit unions’ political efforts or efficacy because credit unions have traditionally been bipartisan in terms of campaign contributions and financial/consumer issues

• Credit unions’ number one political priority — preserving the income tax exemption —continues to be important, but it’s not under significant threat in 2007




• The CURIA bill, which boasted 125 co-sponsors at the conclusion of the 109th Congress, has been reintroduced in the current Congress. This credit union-specific regulatory relief/modernization bill will face stiff resistance from the banking lobby

• Currently 121 members of Congress, including 9 from Michigan, have cosponsored the legislation (as of 8/15/07)

• Michigan leads the nation in the percentage of its House delegation that have signed onto the bill

• House Financial Services Committee Chair Barney Frank (D-MA) has indicated he plans on moving the bill this session

• However, he also indicated he might strip some of the more controversial provisions out of the bill



Michigan Delegation on CURIA• Cosponsors

– Stupak, Hoekstra, Kildee, Upton, Walberg, McCotter, S. Levin, Kilpatrick, Conyers

• Expected to cosponsor again– Camp

• Supports legislation– Miller, position on cosponsoring unclear– Knollenberg, unwilling to cosponsor

• Unwilling to cosponsor; support for legislation unclear– Ehlers, Rogers

• Position on legislation unclear– Dingell



CURIA - What Can I Do?• Contact your Member of Congress to

either: – 1) Thank them for cosponsoring the bill;

or – 2) Ask them to support the legislation

and consider becoming a cosponsor• To send your Member an e-mail, including

talking points, go to: http://capwiz.com/cuna/issues/alert/?alertid=9521681&type=CO


10%

9%

7%

9%

83%

12%

1%

5%

6%

10%

80%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Other

Limiting service offerings

Bankers attacks

FOM issues

Over regulation

Taxation

2007

2006

*Respondents were asked: “What will be the greatest legislative threat to CUs over the next five years?” Open-end question; multiple responses were allowed.

Source: CUNA’s 2007 Political Action Survey

Greatest Legislative Threat*



20%

2%

2%

13%

9%

14%

20%

19%

21%

2%

6%

8%

8%

10%

17%

23%

28%

30%

41%

0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%

Other

Help serve/define underserved

Expand services CUs can offer

New CU Act

Continued bankruptcy reform

Make conversions harder

Reform PCA/capital relief

Relax business lending restrictions

FOM issues

Preserve tax-exempt status

Reduce regulations

2007

2006

*Respondents were asked: “What are the three most positive legislative or regulatory changes from which CUs could benefit.” Open-end question; multiple responses were allowed.

Source: CUNA’s 2007 Political Action Survey

Positive Legislative Changes*




MCUA Review & Refresh• It has been three years since the new

Michigan Credit Union Act (MCUA) went into effect and over seven years since the MCUA modernization review process began

• The MCUA is widely considered the best state charter in the country

• We believe sufficient time has now passed to review the impact of major provisions of the new Act and look for additional ways to improve the state charter



MCUA Review & Refresh

• A subcommittee of the GAC has been meeting monthly starting in April with the goal of concluding its review by October

• Recommendations will then be presented to the full GAC and the MCUL Board of Directors for concurrence

• Any legislative action will be targeted for 2008 and could be carried over to the 95th Legislative Session (2009-10)



MCUA Review & Refresh CU Communication Plan

• Following each meeting, a story is published in Michigan Monitor highlighting the group’s discussions and seeking comment/feedback along with a link to a password-protected area of the MCUL web site that will contain meeting materials

• Any feedback from credit unions is passed along to subcommittee members

• Final recommendations of the subcommittee will be provided to credit unions for feedback prior to Board action



Regulatory Advocacy• SCU “Town Hall” meetings were held around the

state with OFIS Commissioner Watters• 1Q Contact magazine interviews with Watters and

Treichel on examination and appeals process• MCUL spring meetings with senior NCUA/OFIS

officials held; fall meetings scheduled• FCU roundtable held with NCUA Vice Chair

Rodney Hood during AC&E• Meeting with NCUA Chair JoAnn Johnson held

during Hike-the-Hill• MCUL staff made presentation to NCUA’s

Michigan examiners on examination complaints and possible resolutions

• Town Hall meetings with NCUA Region 1 Director Mark Treichel being planned for early 2008



What Can I Do?• Continue to provide feedback to MCUL regarding

your experiences with NCUA/OFIS staff• Do not be afraid to appeal examination concerns

up the chain• Contact the MCUL for assistance with your

regulatory advocacy needs• Provide grassroots commentary on federal

regulatory proposals as announced in GA Update• Participate in Town Hall meetings with NCUA

Regional Director Mark Treichel• Utilize OFIS’ CU Advisory Council members to

pass on information and concerns to OFIS


2007 Executive SummitKey Issues Facing Credit

Unions

2007 Executive SummitKey Issues Facing Credit

Unions

Presented by:David AdamsPete Gates

Date post:	25-Dec-2015
Category:	Documents
Upload:	nelson-terry
View:	217 times
Download:	1 times

MCUL 2007 Executive Summit Bridge to the Future Leadership Issues Dialog Presented by David Adams,...

Documents