The Board of Directors for Affiliates Consolidated Services (ACS), the League of Southeastern Credit Unions’ (LSCU) wholly owned holding company, recently approved a $675,000 value transfer to the LSCU to fund strategic priorities to advance the operating environment for credit unions, bringing the three-year total (2020-22) to over $3 million in value transfers.
“We believe these resources will continue making a significant impact for our credit union community,” stated Patrick La Pine, CEO of LSCU & Affiliates. “With these funds, we will be able to continue to elect credit union champions and provide necessary resources to our smaller credit unions.”
“The Board was moved by the accomplishments of the LSCU & Affiliates this past year and we look forward to seeing the impact these funds have for our credit union community,” said Henry Armstrong, LSCU Board Chair and President/CEO of Auburn University Credit Union.
“When LSCU and the Georgia Credit Union Affiliates consolidated in the fall of 2019, one the promises made was to increase efficiencies, while continuing to provide excellent association services to our affiliated credit unions,” said Hank Halter, ACS Board Chair and CEO of Delta Community Credit Union. “This value transfer shows that LSCU & Affiliates is doing exactly that. We are proud to share that promises have been kept.”
At its Q1 meeting, the LSCU Board of Directors approved the following value transfer items:
- $200,000 will go toward the National Advocacy Fund, which helps elect credit union-friendly candidates at the federal level in Alabama, Florida, and Georgia.
- $375,000 will be used to support LSCU’s three State Political Action Committees (PAC). Through electing pro-credit union candidates, we are building our coalitions in the legislatures that supports and enhances the credit union industry.
- $100,000 will be allocated to LSCU’s Small Asset Size Credit Union Voucher Program, which will provide $1,000 worth of opportunities for credit unions under $50 million in assets to use toward any LSCU educational event or ACS/LEVERAGE product or service.