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


SunCorp's New Payment Services Manager
Theresa Lyons has joined the SunCorp team to fill the role of Payment Services Manager. She has an extensive, 30-year background in managing financial service operations......Read More


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MARKET COMMENTARY

Economic and Market Review
The well publicized rise in interest rates during the past four months appears to have placed at least a temporary dent in the housing recovery’s momentum. New home purchases fell by just over 13% in July.....Read More


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INVESTMENT SERVICES

Jeff's Investment Corner
In his press conference this week Chairman Bernanke said that the FOMC’s objective was to communicate clearly to avoid market dislocations about its policy intentions.  I’d give them an “F” on that assignment.....Read More


The Changing Face of FNMA and Freddie Mac
Ever since these mortgage behemoths were conserved during the financial crisis of 2008, the Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Corporation (Freddie Mac) have been under governmental orders to shrink.....Read More


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CORRESPONDENT SERVICES

Reminder – Redesigned $100 Note Coming Soon
The redesigned $100 note will begin circulating on October 8, 2013. To ensure that your staff is prepared to recognize and accept the redesigned note, please familiarize yourself with the note’s security features.....Read More


ACH Origination using SunCorp's mACH® System
Many consumers expect their financial institutions to offer electronic funds transfer services such as ACH origination. At most credit unions, members benefit from traditional “internal” origination services such as loan payment collection and transfers to or from deposit accounts.....Read More


Protect Your Members by Preventing Check Deposit Fraud
Although check usage has decreased over the years, check deposit fraud remains a problem nationwide. Preventing check fraud will certainly decrease potential losses to your credit union. But even more important may be your duty to protect your members .....Read More


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INDUSTRY NEWS

Updated Rules on Garnishing Accounts
The Federal government rules for garnishing accounts that receive Federal benefit payments have been updated recently. NCUA developed a summary of those rules for credit unions that receive garnishment orders against member accounts to satisfy debts.....Read More


Credit Unions Lend $1B per Day to Members in 2013
Callahan & Associates’ analysis of credit union performance shows lending surging forward in the first half of 2013, resulting in the pace of loan growth surpassing deposit growth for the first time since 2008.......Read More


NACHA Rule Change on Healthcare Payments
The Healthcare Payments amendment to the NACHA Rules takes effect on September 20, 2013. The new rule includes processing enhancements and transaction identification and formatting requirements specific to healthcare claim payments.......Read More


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TRAINING & EDUCATION

Latest SunCast: Bill Payment Services
Our latest SunCast presentation on Bill Payment Services reviews how bill payment programs have changed and continue to evolve, and how important the service is to retain and grow your membership.....Read More


Upcoming Training Webinars
SunCorp's upcoming training webinars include the following topics: International SunWires Upgrades and ACH Compliance and Audit Review.
....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 July 31, 2013
Assets:
$807,529,070
Loans:
$4,023,430
YTD Net Income:
$2,828,129
Leverage Ratio:
6.43%

SunCorp Overnight Rate Average
(Average rates earned in August 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:


Columbus Day
Monday, October 14, 2013

 

 

 


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