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

SunCorp Staff Supports CUAid
SunCorp staff has decided to forego the annual company picnic and instead use those funds as a donation to CUAid to support the relief efforts for wildfire victims in Colorado, Wyoming, Utah, and other western states...... Read More

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MARKET COMMENTARY

Economic and Market Review
The oxygen masks arenít dropping from the ceiling just yet, but the U.S. economy is stalling at the moment. The June employment figures were soft and disappointing for the fourth consecutive month. Non-farm payrolls grew by just 80 thousand, compared to economist estimates of 100 thousand. The unemployment rate remains stubbornly high at 8.2%. The ISM manufacturing index fell below a 50 reading (indicating a contracting economy) for the first time in 3 years...... Read More

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INVESTMENT SERVICES

Expanded Daily Offering Sheet from CU-Investment Solutions
Interest rates are hitting new lows, both here and abroad. The German 2-year note is currently offered at a negative yield, meaning that you have to pay a premium price to have them keep your money. The U.S. 2-year note is running at 0.23%......Read More

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CORRESPONDENT SERVICES

ACH Compliance and Audit Requirements
With the increased emphasis on risk management and compliance in the ACH System, it is critical that your credit union be well informed about the ACH rules and regulations......Read More

Share Draft Return Guidelines
Returns must be submitted by 1:30 pm PT / 2:30 pm MT / 3:30 pm CT of the next business day following our transmission of the share draft file. If you are submitting your returns on the same day as our share draft file transmission, please do not submit them before 1 pm Mountain Time.......Read More

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INDUSTRY NEWS

Notification of Change (NOC) Entries for Federal Government ACH Payments
Notification of Change (NOC) is a method used by a financial institution to notify a Federal agency to correct or change account information in an entry the Federal agency processed through the ACH......Read More

Treasury Rule on Garnishments
Here are a few reminders on the Treasuryís rule regarding the protection of federal benefits from garnishment that went into effect last year.......Read More

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TRAINING & EDUCATION

BSA & OFAC Compliance Training
SunCorp offers free self-paced, recorded training sessions for both credit union staff and volunteers on the Bank Secrecy Act and OFAC regulations including the Customer Identification Program, Suspicious Activity Report, Currency Transaction Report, and other related topics......Read More

Upcoming Training Webinars
SunCorp’s upcoming training webinars include the following topics: mACH
System Origination Module(s), BSA & OFAC Compliance Overview, ACH Compliance & Audit Review....Read More

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FINANCIAL STANDING

SunCorp’s Financial Standing
As of May 31, 2012
Assets:
$1,033,399,488
Loans:
$182,564
YTD Net Income (Loss):
($108,936)
Leverage Ratio:
8.54%

SunCorp Overnight Rate Average
(Average rates earned in May 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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