Louisiana Credit Union League: Board Summary

Summary

Board of Directors Meeting

December 3, 2009

Affiliation/League Statistics

• Affiliation ratio – 94.7%; 6 credit unions requested a dues waiver.

Governmental Affairs

• CULAC has had a record breaking year, with over $115,000 collected through November 11, 2009;

Louisiana has met 320% of our national goal.

• We had 33 individuals representing 9 credit unions at CUNA’s Hike the Hill this past September.

• CUNA’s GAC is scheduled for February 21-25, 2010 in Washington DC; a block of rooms are being held at

the Hyatt Regency on Capitol Hill.

• Credit unions have experienced legislative successes including UBIT, the CARD Act revisions, Consumer

Financial Protection Agency threshold same for credit unions as community banks, and others.

• LCUL will request credit union participation in a modified grassroots plan the week of December 7th due to

important pending DC legislation. There will be regional legislative visits to congressional home district

offices as part of our grassroots efforts.

• Along with President/CEO Cochran, several Louisiana credit union representatives met with Chairman

Matz in Virginia in November and we have extended an invitation to her to visit Louisiana; Board Member

Fryzel has been invited to attend the Louisiana GAC.

League Leadership/Special Projects

• There were 203 total onsite staff credit union visits and 41 remote contacts from July 2009 to October 2009.

In addition, 28 training sessions were conducted with 349 attendees.

• InfoSight, a dues supported service, has received over 30,566 hits since the introduction in 2008.

• Telephone compliance staff answered over 213 requests from credit unions since July 2009.

• Invest in America: the program has been a success with Louisiana credit unions as the number of car loans

has increased. As of September 30, it is estimated that approximately 2,439 GM/Chrysler vehicles sold in

Louisiana were financed with credit unions. The program has been extended and will include other services.

• Following Hurricane Gustav, our Louisiana Foundation awarded 13 grants to credit union employees

totaling $21,900.

CU Cooperative Branching, Inc.

• CUCB continues to rank 7th in the nation for number of transactions processed.

• CUCB opened their 100th outlet location recently in Monroe (Kraftman FCU).

• The CUCB board will move forward with plans to sell the fixed assets and operation of Baton Rouge

Service Center to a Louisiana domiciled credit union.

Treasurer’s Report

• President/CEO Cochran presented the financials as of October 31, 2009. There were no major variances to report.