Florida CUs set to merge mid-year

Yesterday, two Florida credit unions, Miramar-based Tropical Financial Credit Union and Miami-based Financial Federal Credit Union, announced a deal to merge. Financial Federal will be absorbed by Tropical if the deal is approved. The announcement, published in South Florida Business Journal yesterday, quotes Richard Helber, president and CEO of Tropical: “Tropical Financial is pleased to […]

LSCU issuing rebate for 5th straight year

Over the last several years, the LSCU & Affiliates has returned more than $1.4 million to credit unions through dues rebates and patronage dividends. This year’s dues rebate will be 5.6 percent, equivalent to $202,623. “To be able to offer a dues rebate for the last five years in a row is not only a […]

Washington Wire

Both the House and the Senate return to session this week. The House is expected to consider the “VA Accountability First Act of 2017” (H.R. 1259); the “Veterans 2nd Amendment Protection Act” (H.R. 1881); and H.R. 1367, to improve the authority of the VA Secretary to hire and retain physicians and other employees. The Senate […]

Bill to allow CU qualification for public depository on docket

Tomorrow, the Florida Senate Banking and Insurance Committee will hear SB 1170 by Sen. Travis Hutson (R-Palm Coast), which will allow credit unions to become qualified public depositories.This bill is an LSCU member-identified priority that would give credit unions an additional opportunity to serve their communities. But to move this piece of legislation through the […]

Study shows digital banking could be revenue-capture resource

Results from a study by consulting firm Simon-Kucher & Partners, “Monetizing Digital Banking Products for Small Business Customers,” indicate digital banking offers big benefits to small business that are often receiving the services for free when they would pay for the convenience. “The small business customer is a huge untapped market for financial institutions,” said […]

Potential changes may come in NCUA appeals process

NCUA sources tell the LSCU that its Board will consider a proposed rule in April that grants credit unions new rights in an appeal. In the current process, credit unions are very restricted in their ability to bring in outside expertise such as accounting or specialized business and legal talent. Under the new proposed regulation, […]