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


MARKET COMMENTARY

Economic and Market Review
In his remarks following the June FOMC meeting, Chairman Bernanke reminded market participants that “QE Infinity” is, in fact, a finite program. In his statement, he outlined the conditions under which the Fed would begin to curtail its asset purchases. This announcement rattled fixed income markets......Read More


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INVESTMENT SERVICES

SunCorp Certificates: An Excellent Investment Choice for Credit Unions
Is your credit union experiencing excess liquidity? Are you looking for competitive yields for investing those funds? SunCorp Certificates of Deposit are a great choice......Read More


Jeff's Investment Corner
The months of May and June 2013 were unkind to credit union bond portfolios. After a solid three years of stable short-term interest rates, the bond market went a little crazy. The driver was the Fed's introduction into the dialog of "tapering off" on interest rates......Read More


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CORRESPONDENT SERVICES

Security Safekeeping Upgrade
SunCorp recently upgraded our Security Safekeeping service with the addition of a new form for submitting safekeeping requests for securities purchases or sales.  The new form will reduce the need for credit unions......Read More


Check Loss Prevention
We find that many credit union employees have only a vague understanding of the laws and regulations that apply to checks and share drafts. Given this lack of knowledge, credit unions are vulnerable to potential losses. Here are a few reminders on some check laws or regulations that are commonly misunderstood, and what problems these misunderstandings can cause.......Read More


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INDUSTRY NEWS

CFPB Report on Overdraft Practices
The Consumer Financial Protection Bureau (CFPB) recently released a report on bank and credit union overdraft practices that raises concerns about whether the overdraft costs on consumer checking accounts can be anticipated and avoided. The report shows big differences across financial institutions when it comes to overdraft coverage on debit card transactions and ATM withdrawals.....Read More


Report Questions Effectiveness of AML
Financial institutions find themselves under mounting pressure from regulators to step up their anti-money laundering (AML) game. However, a new report from Boston-based Aite Group – authored in association with security company Early Warning – raises serious questions about the effectiveness of the programs.....Read More


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TRAINING & EDUCATION

Check Out Our Recent SunCasts
Our latest SunCast presentation on RDC Risk Management reviews a few compliance and risk management issues for Remote Deposit Capture services for consumer and business members.....Read More


Upcoming Training Webinars
SunCorp's upcoming training webinars include the following topics: BSA & OFAC Compliance Overview, SunCorp Certificates of Deposit
.....Read More


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Upcoming Events

Seminars & Events 2013

  • September 5: SCCUA Q3 Collaboration Meeting: Brea, CA
  • September 5-6: Rocky Mountain CUES Summer Conference: Vail, CO
  • October 28-30: California and Nevada Leagues Annual Meeting: San Francisco, CA
  • December 5: SCCUA Q4 Collaboration Meeting: Brea, CA

Read More


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FINANCIAL STANDING

SunCorp’s Financial Standing
As of May 31, 2013
Assets:
$947,067,291
Loans:
$232,600
YTD Net Income:
$4,148,611
Leverage Ratio:
6.37%

SunCorp Overnight Rate Average
(Average rates earned in June 2013)
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 2, 2013

 



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