The 56th Annual Kansas Corporate Membership Meeting was held Friday morning, April 25, 2008, at the Wichita Marriott Hotel, Wichita, KS.

Credit union delegates voted for and re-elected two members of our Board of Directors and one Credit Committee position.  Both Glen Scott, Kansas Super Chief Credit Union, Topeka, KS, and Raymond Stroud, Credit Union of Dodge City, Dodge City, KS, were elected to three-year terms.  Mark Bezdek, Credit Union 1 of Kansas, Topeka, KS, was re-elected to the Credit Committee, also for a three-year term.  Other Credit Committee members are Bill Hauber, Frontier Community Credit Union, Leavenworth, KS, and Paul Meissner, Credit Union of America, Wichita, KS.

Immediately following the Membership Meeting, a re-organization meeting was held to select officer positions and the 2008 Kansas Corporate board includes the following individuals:  Wayne Warfel, Chair, Wichita Federal Credit Union, Wichita, KS, Raymond Stroud, Vice-Chair, Ted Underwood, Secretary/Treasurer, Golden Plains Credit Union, Garden City, KS; Gary Colcher, Credit Unions United, Topeka, KS, Mark Kolarik, Kansas Teachers Community Credit Union, Pittsburg, KS; Glen Scott and Bob Thurman, Credit Union of America.

The Board of Directors appointed the Supervisory Committee of Jacque Cully, Central Kansas Credit Union, Hutchinson, KS, Mahlon McCaleb, Boeing Wichita Credit Union, Wichita, KS and Gavin Wittman, Educational Credit Union, Topeka, KS, to serve one-year positions.

Kansas Corporate's Annual Membership Meeting is held in conjunction with the Kansas Credit Union Association's Annual Meeting and Convention.  Larry Eisenhauer, President/CEO, was a featured speaker at Saturday's Educational Breakout sessions, discussing Asset/Liability Management for Directors.  KCCU Staff attended the Exhibitor's Showcase Friday evening which was sponsored this year by Kansas Corporate.

We were also excited to be the host of the 2008 Annual Meeting Golf Classic.  There was a great turnout and despite a slight breeze at tee time, everyone had an enjoyable afternoon of golf and helped raise funds for the Children's Miracle Network.  Thank you to all our golfers, sponsors and volunteers for making the tournament a success and a special congratulations to the tournament and prize winners!

A heartfelt and sincere thank you to our members, volunteers and staff!

If you would like a copy of the 2007 Kansas Corporate Annual Report, please send your request to
marketing@kansascorporate.org.  An online copy will soon be available on the Communications Page | Financials Section.

Working the Registration Tent - Judy, Mary Burk, Circe, Heather, Tonya & Tammy

1st Flight/1st Place Winners - Alan Tenbrink, Gavin Wittman, Mike Button & Jerry Tenbrink

April 30 (Bloomberg) -- The following is the full text of the statement released today by the Federal Reserve:

The Federal Open Market Committee decided today to lower its target for the federal funds rate 25 basis points to 2 percent.

Recent information indicates that economic activity remains weak.  Household and business spending has been subdued and labor markets have softened further.  Financial markets remain under considerable stress, and tight credit conditions and the deepening housing contraction are likely to weigh on economic growth over the next few quarters.

Although readings on core inflation have improved somewhat, energy and other commodity prices have increased and some indicators of inflation expectations have risen in recent months.  The Committee expects inflation to moderate in coming quarters, reflecting a projected leveling-out of energy and other commodity prices and an easing of pressures on resource utilization.  Still, uncertainty about the inflation outlook remains high.  It will be necessary to continue to monitor inflation developments carefully.

The substantial easing of monetary policy to date, combined with ongoing measures to foster market liquidity, should help to promote moderate growth over time and to mitigate the risks to economic activity.  The Committee will continue to monitor economic and financial developments and will act as needed to promote sustainable economic growth and price stability.

Voting for the FOMC monetary policy action were:  Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Donald L. Kohn; Randall S. Kroszner; Frederic S. Mishkin; Sandra Pianalto; Gary H. Stern; and Kevin M. Warsh.  Voting against were Richard W. Fisher and Charles I. Plosser, who preferred no change in the target for the federal funds rate at this meeting.

In a related action, the Board of Governors unanimously approved a 25-basis-point decrease in the discount rate to 2 1/4 percent.  In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of New York, Cleveland, Atlanta and San Francisco.

The 2007 Primary Financial Co., LLC, (SimpliCD) Annual Report is now available.  Copies should be printed and maintained for documentation of due diligence requirements.  Click here to access the report.

Hard copies of the report are also available upon request.  Click here to request a copy be mailed to your credit union.

Please direct inquiries to Circe Gleeson, Marketing Manager, 800.721.2677 | Ext. 106 or email circeg@kansascorporate.org.

CU Business Group is committed to providing on-going training and education for your business services program at your credit union.  CUBG offers both in-person seminars and webinars for your convenience.  Sign up today to bring new staff up-to-date or as a refresher for your existing team members!  MEMBERS & POTENTIAL MEMBERS Welcome!

Along with the 3-day intensive Analyzing Business Loans, CUBG is now offering Analyzing Business Loans for Executives.  This new seminar is a power-packed business lending course presented in an efficient one-day format, designed specifically for credit union professionals that oversee the business lending program.  There are 2 May sessions to choose from - Sign up on the CUBG website TODAY!

The original Analyzing Business Loans seminar is designed specifically for credit union professionals to become more confident and effective in understanding and screening business loan opportunities.  This session was held in Kansas last year to rave reviews!  Two sessions are available in June!

CU Business Group also hosts a 2-day Cash Flow Analysis seminar designed as a more advanced course specifically for credit union professionals involved in business lending.  Sessions are available in April and May!

Webinars scheduled in April include...

• Business Lending 102 | Closing Loan Documents | Friday, April 4, 2008
• NEW COURSE - Business Lending 203 | Loan Operations, Exam Considerations & Other Must Know Topics | Monday, April, 7, 2008
• Business Lending 103 | The Basics of SBA Lending | Friday, April 11, 2008
• FREE - Bringing Business to You! | Introduction to CU Business Group | Wednesday, April 16, 2008
• FREE - CUBG's Participation Network | The Basics of Buying and Selling Loan Participations | April 24, 2008

For more information on all CU Business Group training and educational seminars, please contact Circe Gleeson, Marketing Manager, at 800.721.2677 | Ext. 106, or visit the CU Business Group website at www.cubusinessgroup.org for times, pricing, registration and course outlines.

Attract New Gen-Y Members!  Cement Relationships with Current Members!  Earn Fee Income!  Assume No Credit Risk!

Now is the time to offer CU Student H.E.L.P.!  

Kansas Corporate, in conjunction with Charlie Mac, LLC, is NOW offering CU Student H.E.L.P. (Higher Education Loan Program)! 

CU Student H.E.L.P. is a private student loan offering designed to bridge the gap between available federal loan dollars and the actual cost of higher education.  The loans are originated by CampusDoor, a leader in the origination of private student loans founded in 1995, owned by Lehman Brothers Bank, FSB, who in turn funds the loans.  Loan servicing is provided by American Education Services (AES), one of the nation's largest student loan servicers, in business since 1964.

As depicted graphically below, higher education costs have risen rapidly since the '80s and federal loans do not nearly meet the full cost of higher education.  Private loans are the fastest growing segment in student lending.  CU Student H.E.L.P. not only provides a comprehensive private loan program but works to educate both high school and college students on the complete college experience, including applying for federal student aid and the loan process, from payout to payoff, as well as CU Student H.E.L.P. loan specifics.

To learn more about CU Student H.E.L.P., access the Getting Acquainted  and Getting Started Packets online or Request a Copy.

Please direct all inquiries to Sarah Rasmussen or Circe Gleeson, 800.721.2677, Ext. 122 and Ext. 106, respectively.
 

The Hispanic population in the United States is rapidly increasing, as is the amount of money sent "home" to Mexico.  In fact, the amount of funds remitted to Mexico is the second-largest in the world.  To aid U.S. financial institutions in capturing this rapidly growing U.S.-to-Mexico remittance market, the central banks of the U.S. and Mexico developed Directo a México, a Spanish-language promotional campaign designed to support cross-border ACH payments to Mexico.

All necessary tools to begin using Directo a México are available to you through Kansas Corporate, including value-added functionality incorporated into our ACH processing platform to support cross-border payments.  Directo a México Toolkits are available upon request, providing useful tools and information, including:

• A Promotional Toolkit and Marketing Guide - explaining how to reach your Hispanic community and providing promotional materials to aid your efforts
• APEX-ACH Cross Border Release Notes - complete, detailed instructions for initiating cross-border payments, specifically APEX-ACH processing
• FedACH International Mexico Service Implementation Manual - providing assistance and background information regarding the Mexican ACH program, including the required enrollment forms for initiating cross-border ACH payments

In addition to these resources and key to the success of the program is the access Directo a México grants to the Beneficiary Account Registration (BAR) website.  Through the BAR website, financial institutions participating in the Directo a México program are able to register accounts at 548 branches of Bansefi, a government-owned development bank in Mexico.  The BAR website generates an account number, called a CLABE, for the originated transfers' beneficiary in Mexico.  The beneficiary then has 10 days to finalize this account at the chosen Bansefi branch and receive their funds.  Use of the BAR is restricted to those enrolled in Directo a México and helps establish the use of financial institutions in Mexico as well as allows Mexican residents to receive account-to-account transfers near their homes.

For more information on how you can reach the growing Hispanic population in your community or for your FREE copy of the Directo a México Promotional Toolkit, contact Sarah Rasmussen, Business Development Representative, at 800.721.2677 | Ext. 122 or email sarahr@kansascorporate.org.