In This Issue:
1. Market Commentary
2. Investment Services
3. Correspondent Services
4. Industry News
5. Training & Education
6. Upcoming Events
7. Financial Standing
8. Holiday Schedule


MARKET COMMENTARY

Economic and Market Review
The August employment figures returned to a disappointing mark (4 of the last 5 months, with the lone “bright” spot of July revised lower). Non-farm payrolls grew by just 96 thousand, compared to economist estimates of 130 thousand. The unemployment rate remains stubbornly high at 8.1%...... Read More

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INVESTMENT SERVICES

SimpliCD - Investments Have Never Been So Easy
Looking for an easy, convenient, quick way to investment your excess funds? Look into SunCorp’s SimpliCD program. With the recently broadened scope of CDs offered through the SimpliCD program it is better than ever......Read More

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CORRESPONDENT SERVICES

Reminders for Receiving International Wire Transfers
Here are a few reminders on how to handle member requests for receiving international wire transfers.....Read More

Cashier's Check and Corporate Draft Fraud
Counterfeit or altered cashier’s checks and corporate drafts are becoming increasingly common, and have the potential to cause major losses for credit unions. We continue to see this type of fraud activity and the related losses.......Read More

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INDUSTRY NEWS

Your Members as Money Mules?
An ongoing scam is making your members part of a popular money laundering practice. Credit union members from around the country are being recruited as money mules to unknowingly assist fraudsters in laundering stolen funds......Read More

Fraud Alert - Cyber Criminals Targeting Financial Institution Employee Credentials to Conduct Wire Transfer Fraud
Recent FBI reporting indicates a new trend in which cyber criminal actors are using spam and phishing e-mails, keystroke loggers, and Remote Access Trojans (RAT) to compromise financial institution networks and obtain employee login credentials. The stolen credentials were used to initiate unauthorized wire transfers overseas.......Read More

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TRAINING & EDUCATION

Check Out Our Recent SunCasts
Our latest SunCast presentation on Changes in the Investment Landscape reviews recent developments at Fannie Mae and Freddie Mac - including the Treasury bailout terms, future reductions in their portfolio holdings, the reductions to their yield spreads, and the potential impact on credit union investment choices......Read More

Upcoming Training Webinars
SunCorp’s upcoming training webinars include the following topics:
Practical Liquidity Management, ACH Processing & Exception Handling, SimpliCD Program Review....Read More

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FINANCIAL STANDING

SunCorp’s Financial Standing
As of July 31, 2012
Assets:
$962,189,566
Loans:
$2,705,148
YTD Net Income (Loss):
($92,026)
Leverage Ratio:
8.58%

SunCorp Overnight Rate Average
(Average rates earned in July of 2012)
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 8, 2012

 

 

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