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 2013 Member Forum: Rise to the Summit
SunCorp will host the 2013 Member Forum on November 18 - 19, 2013 at the Hilton Salt Lake City Center in Salt Lake City, Utah.......Read More


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MARKET COMMENTARY

Economic and Market Review
At the time of this writing, the U.S. federal government remained closed for all activities deemed non-essential. Within the definition of “non-essential” are most government statistical reports. As a result, economic data will be primarily limited to reports published by the private sector.....Read More


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INVESTMENT SERVICES

Jeff's Investment Corner
There was some doubt that the government shutdown and debt ceiling increase would be resolved in time for me to meet the deadline for the newsletter. Fortunately, the Congress decided to give me a break and passed the needed legislation this week......Read More


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CORRESPONDENT SERVICES

Upgrades Set for International SunWires System
To comply with the new CFPB remittance regulations and provide additional member-requested enhancements, our International SunWires System will be upgraded later this month. The programming and testing of those upgrades have now been completed, and are scheduled to take effect on October 28th.....Read More


Foreign Check Collection Endorsements
SunCorp has recently experienced an increasing number of returns of unpaid foreign check deposit items. Most types of foreign checks have been affected except for Canadian checks sent as cash letter items. The most common return reason used was the lack of endorsement guarantee......Read More


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INDUSTRY NEWS

Regulators Issue Guidance on Reporting Financial Abuse of Older Adults
Seven federal regulatory agencies have issued guidance to clarify that the privacy provisions of the Gramm-Leach-Bliley Act generally permit financial institutions to report suspected elder financial abuse to appropriate authorities.....Read More


HELOC Funds a Target for Wire Transfer Fraud
Members sometimes call to ask for help transferring home equity line of credit (HELOC) funds to a checking account. Or they'll request assistance via e-mail or your online banking system's messaging system, to request wire transfers. It's a perfectly normal occurrence--and that's what thieves count on.......Read More


Regulators Issue Statement on Windows XP Operating System
The Federal Financial Institutions Examination Council (FFIEC) has issued a joint statement concerning Microsoft’s discontinuation of support for its Windows XP operating system as of April 8, 2014.......Read More


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TRAINING & EDUCATION

SunCorp Liquidity Services Webinar
As loan demand increases and liquidity tightens, it is important for credit unions to know your options for sources of additional liquidity......Read More


Check Processing Quick Reference Cards
Credit union employees have found that our check processing systems are easy to use with the right resources. The most common tools used by employees are our Quick Reference Cards.....Read More


Upcoming Training Webinars
SunCorp's upcoming training webinars include the following topics: SunCorp's Liquidity Services, Domestic Wire Transfer Services, and Changes at FNMA and Freddie Mac.
....Read More

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Upcoming Events

Seminars & Events 2013

  • October 28-30: California and Nevada Leagues Annual Meeting: San Francisco, CA
  • November 18-19: SunCorp 2013 Member Forum: Rise to the Summit: Salt Lake City, Utah
  • December 5: SCCUA Q4 Collaboration Meeting: Brea, CA

Read More


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FINANCIAL STANDING

SunCorp’s Financial Standing
As of August 31, 2013
Assets:
$901,769,850
Loans:
$1,610,374
YTD Net Income:
$2,822,469
Leverage Ratio:
6.50%

SunCorp Overnight Rate Average
(Average rates earned in September 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:


Veterans Day
Monday, November 11, 2013

 

 

 


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