SEPTEMBER 5, 2014
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What to Anticipate from New NCUA Board Member (Issue 1 of 6)
J. Mark McWatters was sworn in as the newest member of the National Credit Union Administration Board, naming regulatory relief for credit unions as the first of his five areas of initial focus.

 
     
  Celebrating 100 Million (Issue 2 of 6)
To celebrate credit unions' 100 million memberships mark, Georgia Credit Union Affiliates has released a short video of interviews with members illustrating why they love credit unions.

 
  EMV MasterCard Around the Corner (Issue 3 of 6)
Wal-Mart announced that holders of its branded MasterCard will soon receive new cards with embedded EMV chips instead of magnetic stripes. The new cards are considered more secure against fraud than magnetic-stripe cards.
 
  Two Tools for You (Issue 4 of 6)
To facitilate the important task of communicating the credit union message, GCUA is offering two tools - a Media Training session, scheduled for Sept. 23, and a video series on messaging produced by five credit union leagues.

 
  Endless Summer? No, Endless Campaign Season!
(Issue 5 of 6)

The Atlanta Journal-Constitution reported that several factors have combined to make this year an "endless campaign season" in Georgia - but despite all the campaigning, voters still decide the outcomes on Election Day.

 
  Around the State: Kennesaw to Curb Certain 'Financial Shops' (Issue 6 of 6)
The Atlanta Business Chronicle reported that the city of Kennesaw has placed a one-year moratorium on new licenses for pawn shops and payday-lending, check-cashing and title-pawn businesses.

 
 
 
What to Anticipate from New NCUA Board Member (Issue 1 of 6)
McWatters
New NCUA Board member J. Mark McWatters, right, with U.S. House Financial Services Committee Chairman Jeb Hensarling, left, and former NCUA Board member Michael Fryzel, center

On Tuesday, August 26th J. Mark McWatters was officially sworn in as the newest NCUA board member. What can credit unions anticipate from him? Regulatory relief, transparency, accountability, supporting low-income credit union members and promoting greater industry diversity are among the priorities McWatters shared. He stated his initial focus as a member of the NCUA Board would be in five areas:

  • Provide regulatory relief for credit unions,
  • Incorporate a robust, objective, transparent and fully accountable cost-benefit analysis into NCUA’s rulemaking and vetting process,
  • Recognize the critical role and expand the scope and financial viability of low-income credit unions within the financial services industry,
  • Enhance the availability of affordable and readily understandable financial services to credit union members who are economically challenged, and
  • Promote the role of women and persons of color within the credit union industry.
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100 million members logoCelebrating 100 Million (Issue 2 of 6)

To celebrate the 100 million memberships mark, GCUA has released a short video of interviews with credit union members illustrating why they love credit unions. This video is making its way around the country through social media, and is just one of the ways credit unions nationwide are celebrating the 100 million mark. Thank you to Georgia United Credit Union for having members share their insight on the video.

One avenue through which all credit union members can get involved in the celebration is the #100MM selfie wall on americascreditunions.org, which celebrates the faces of 100 million members, and counting. Here in Georgia, credit union members jumped into a Facebook selfie contest where contestants shared a photo of themselves on GCUA's creditYOUnion Facebook page with the #100MM hash tag. Congratulations to Puffie Mann Shemika for winning the $100 contest, and to all the members who got involved!

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EMV EMV MasterCard Around the Corner (Issue 3 of 6)

On August 29th Wal-Mart announced that holders of its branded MasterCard will receive new cards with EMV (Europay-MasterCard-Visa) chips embedded within the next few weeks. The announcement comes two weeks after the Payments Security Task Force (PST), an organization made up of more than a dozen companies and organizations, announced that 575 million EMV cards will be issued by the end of 2015. Credit unions are represented on the PST through CUNA. And, it comes on the heels of the latest card data breach, which was reported on September 2nd with Georgia-based Home Depot.

EMV, which stands for the companies that developed the technology, is a new global standard that would replace the magnetic strip on cards with an embedded chip. Instead of swiping, customers insert the cards into compatible point-of-sale terminals. The chip-embedded cards are considered more secure against fraud since authentication provided by the use of a PIN and cryptographic algorithms are more difficult to duplicate. EMV cards are picking up momentum within the financial industry; however, the big question is whether the merchant community will be prepared to make the full-time change, as well as a need for all stakeholders to continue working on security strategies to combat data breaches. 

In October 2015, organizations deploying EMV cards will be protected from financial liability from card-present counterfeit fraud losses. Guy Chiarello, president of First Data, a global payment processing firm, said his company is encouraging institutions to launch EMV plans as soon as possible before the October 2015 deadline. 

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Two Tools for You (Issue 4 of 6)

TwoMessaging is a key aspect to growing the credit union industry; however, the operational and compliance needs of any organization often take the full devotion of resources. For Georgia credit unions, there are tools and resources available to assist:

Media Training
On Tuesday, September 23rd the annual Media Training will be held in Duluth, and is the opportunity to learn more on:

  • the changing media landscape,
  • content marketing,
  • how to handle interviews (both positive and negative) with the press, and
  • social media engagement.

The scheduled lineup includes John Clark, host of Clear Channel’s statewide Georgia Focus public affairs radio show, Phil Hudson of the Atlanta Business Chronicle, and Liz Dalton, host of Liz Talk on WGAU radio in Athens. Please click here to register.

Video Messaging Series
Georgia credit unions have access to a video series from a collaboration with five leagues designed to help credit unions in the respective states share their stories with the media. Through these informative short videos, there are strategies and tactics to spread the credit union message through online and traditional outlets. Visit www.cupublicrelations.org and please pass on the link to members of your staff.

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SurfingEndless Summer? No, Endless Campaign Season!
(Issue 5 of 6)

Already tired of campaign ads? You aren’t alone. The Atlanta Journal-Constitution reported on September 1st that loosened restrictions on outside spending, combined with Georgia’s most competitive governor’s race and U.S. Senate race in YEARS, has brought an “endless campaign season” for 2014. Highlighting the ads and the outside funds that are driving these contests, which have taken on more of a national spotlight, the article leaves out one small, yet powerful point. It’s who actually goes out to vote on election day that decides the races!

Credit unions can get involved in the simple act of getting people out to vote, reminding them of registration deadlines and encouraging others to get involved. For sample articles, social media messages, videos and other information on how your credit union can get out the vote, go to ElectionWatch.

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PawnAround the State: Kennesaw to Curb
Certain 'Financial Shops' (Issue 6 of 6)

On September 2nd the Atlanta Business Chronicle highlighted the zoning policies of Kennesaw, stating that officials have approved a one-year moratorium on licenses for pawn shops and payday-lending, check-cashing and title-pawn businesses. The moratorium, approved in August, will not affect businesses already operating in the city, reports the Marietta Daily Journal. Kennesaw Mayor Mark Mathews said city officials recently discovered that Kennesaw’s restrictions on such establishments are more lax than those of other cities, the paper reports. Mathews said that the city is working on “a uniform development code.”

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