In This Issue:
1. Market Commentary
2. Investment Services
3. Correspondent Services
4. Industry News
5. Training & Education
6. Upcoming Events
7. Financial Standing
8. Holiday Schedule


INSIDE SUNCORP

Staff Helps School Affected by Wild Fires
SunCorp’s Employee Activity Committee recently coordinated a company event collecting school supplies for a Colorado elementary school affected by the recent wild fires....... Read More

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MARKET COMMENTARY

Economic and Market Review
The July employment figures rebounded after 3 disappointing months. Non-farm payrolls grew by 163 thousand, compared to economist estimates of 100 thousand. Unemployment claims have been trending lower over the last 6 weeks, an encouraging sign. However, the unemployment rate remains stubbornly high at 8.3%...... Read More

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INVESTMENT SERVICES

The New and Improved Daily Offering Sheet is Now Online
We wrote in last month’s newsletter that the Daily Offering sheet was going to be re-formatted to make it a more useful and user-friendly document for SunCorp members who are looking to add marketable securities to their portfolios......Read More

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CORRESPONDENT SERVICES

SunCorp Launches New International Wire Transfer System
Beginning in September, SunCorp will begin the roll out of a new, online system for submitting international wire transfer requests. The new system will replace the temporary fill-in forms that have been used for the past couple months.....Read More

Prepare for New Online CTR and SAR
You may have just finished adapting to the new electronic filing requirements from FinCEN for the “legacy” versions of the CTR and SAR forms. But now is the time to prepare for the new online CTR and SAR.......Read More

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INDUSTRY NEWS

CFPB Updates International Money Transfer Rule
The Consumer Financial Protection Bureau (CFPB) updated its international money transfer rule to make the transfer process easier for institutions that handle 100 or fewer remittances a year......Read More

March 1, 2013 Marks Treasury's Switch to All-electronic Federal Benefit Payments
The U.S. Department of the Treasury is phasing out paper checks and requiring federal benefit recipients to get their money electronically by March 1, 2013.......Read More

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TRAINING & EDUCATION

Training & Information Resources
This month, we will review some of SunCorp’s training and information resources. Most of our credit unions are familiar with many of these resources, but credit unions always have new staff......Read More

Upcoming Training Webinars
SunCorp’s upcoming training webinars include the following topics:
ACH Compliance & Audit Review, Investment Offering Sheet Review....Read More

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FINANCIAL STANDING

SunCorp’s Financial Standing
As of June 30, 2012
Assets:
$1,081,270,592
Loans:
$1,133,185
YTD Net Income (Loss):
($107,924)
Leverage Ratio:
8.56%

SunCorp Overnight Rate Average
(Average rates earned in June of 2012)
Money Market Account:
Balance < $1 million
0.07%
Balance $1 - $10 million
0.07%
Balance > $10 million
0.07%
Cash Management Account:
0.07%
Membership Capital Shares:
0.00%


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HOLIDAY SCHEDULE

SunCorp will be closed in observance of the following holiday:



Labor Day
Monday, September 3, 2012

 

 

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