In This Issue:

1. Inside SunCorp
2. Market Commentary
3. Investment Services
4. Correspondent Services
5. Industry News
6. Training & Education
7. Upcoming Events
8. Financial Standing
9. Holiday Schedule


INSIDE SUNCORP

SunCorp's 2013 Annual Meeting Results
SunCorp’s 35th Annual Meeting was held on May 22, 2013.Greg Hill, President and CEO of Community Financial CU in Broomfield, Colorado was elected as Chairman of the Board of Directors. Greg has been on the Board for 4 years and most recently held the position of Vice Chairman. Carlos Pacheco, President and CEO of Premier Members FCU...Read More

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MARKET COMMENTARY

Economic and Market Review
Nearly two years after Standard and Poor’s lowered its U.S. credit rating to AA+, the company has raised its outlook from “negative” to “stable.” One reason for the improvement in outlook has been a reduction in the budget deficit. According to the Treasury Department......Read More


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INVESTMENT SERVICES

Adjusting to a Rising Rate Environment
The Federal Reserve last tightened monetary policy in June 2006. The fed funds rate was moved to 5.25% in the June 2006 FOMC meeting and there it remained until September 2007 when the storm clouds surrounding the housing crunch began to swirl. As various financial institutions imploded over the next couple of years.....Read More


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CORRESPONDENT SERVICES

International Wire Transfer Bank Codes and Account Numbers
A successful international wire transfer requires accurate foreign bank and account information. To assist credit unions in obtaining and validating this information, we have summarized the standards for SWIFT bank identification codes.....Read More


ACH Compliance and Audit Reminder
With the increased emphasis on risk management and compliance in the ACH System due to rapid growth, it is more important than ever that your credit union maintain compliant with the ACH rules and regulations. ACH compliance not only meets.....Read More


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INDUSTRY NEWS

Updated Information on New SARs and CTRs
The Financial Crimes Enforcement Network (FinCEN) recently published a set of frequently asked questions regarding the use of its new online Suspicious Activity Reports and Currency Transaction Reports.  Credit union employees.....Read More


NACHA Rule Change to Healthcare Payments
The Financial Crimes Enforcement Network (FinCEN) recently published a set of frequently asked questions regarding the use of its new online Suspicious Activity Reports and Currency Transaction Reports.  Credit union employees.....Read More


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TRAINING & EDUCATION

BSA & OFAC Compliance Training
SunCorp provides recorded training sessions and reference documents on all aspects of our CorPower System and.....Read More


Upcoming Training Webinars
SunCorp's upcoming training webinars include the following topics: SimpliCD: The Simple Way to Raise Funds, ACH Compliance and Audit Review, and BSA & OFAC Compliance Overview
.....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

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FINANCIAL STANDING

SunCorp’s Financial Standing
As of April 30, 2013
Assets:
$905,454,772
Loans:
$575,002
YTD Net Income:
$2,117,069
Leverage Ratio:
6.04%

SunCorp Overnight Rate Average
(Average rates earned in May 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:




Independence Day
Thursday, July 4, 2013

 



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