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LSCU Annual Membership Meeting featured blockbuster lineup

The LSCU Annual Membership Meeting at the 1st AC&E ran a little longer than planned, however there were not too many complaints from the more than 500 attendees. The meeting featured remarks by LSCU board chair Rich Helber, LSCU President/CEO Patrick La Pine and a blockbuster lineup of system partner speakers. La Pine laid out the foundation of the newly consolidated League and walked the crowd through the priorities of the League, including increased Governmental Affairs presence and the establishment of a brand campaign for 2011. CUNA CEO Dan Mica was able to provide attendees the latest information on the interchange issue and also said MBL is once again on the table.

"Chairman Barney Frank told me that he is ready to being looking at member business lending after the financial reform bill is resolved," said Mica. He also said alternative capital is once again gaining steam in Washington D.C.

CUNA Mutual Group CEO Jeff Post presented interesting economical numbers. He said the "real unemployment rate right now is 16 to 20 percent." He also pointed out that the Gross Domestic Product (GDP) in the 2000s had dropped to half of what it was in the 90s and that Household Net Worth in the 2000s was negative for the first time. While telling the attendees he felt the worst of the economy was over, Post says CMG is doing all it can to help credit unions succeed.

WOCCU's Pete Crear showed photos of the credit unions hardest hit by the earthquake in Haiti. He also said the hardest part of recovery was trust. "Most people are living in tents right now and they don't trust walking into buildings because they fear it (earthquake) will happen again." Crear also showed an innovative program being implemented in England, where 11,000 credit union branches will open in Post Offices. The kicker of the program is that a special bank tax will pay for it.

National Credit Union Foundation Chairman Allan McMorris showed a Real Solutions video from a woman who finally paid $25 to open an account at a local credit union. She had a low credit score and no real assets. With the help of the credit union, she had raised her credit score 100 points and she was on her way to being able to purchase a home. McMorris asked credit unions to keep looking for new innovations to help members.