/LSCU-FL_Foundation_mints-1-7-2010

LEAGUE OF SOUTHEASTERN CREDIT UNIONS “FLORIDA CREDIT UNION FOUNDTATION” TRUSTEES TELECONFERNCE MEETING THURSDAY, JANUARY 7, 2010 ABRIDGED MINUTES CALL TO ORDER The Trustees of the League of Southeastern Credit Unions “Florida Credit Union Foundation” met by telephone on Thursday, January 7, 2010 beginning at 9:30 a.m.

Central Time, 10:30 a.m. Eastern Time.

The Foundation Trustees are the Executive Committee of the League of Southeastern Credit Unions. All were in attendance at the meeting. Chairman Rich Helber, ChairmanElect Joe McGee, Vice Chairman Mary Woods, Treasurer Tina Williams and Secretary Steve Swofford.

LSCU Staff in attendance for the call was Patrick La Pine, Carol Lucas, Cassandra Grayson, Scott Morgan, Laura Vann, Adena Whitman and Teresa Gray.

Chairman Helber welcomed the Executive Committee to their meeting of LSCU and noted that the Florida Foundation had been providing scholarships to the twelve chapters in FL for approximately four years. These chapters chose approximately four high schools in their respective areas to offer these scholarships on behalf of the FL Credit Union Foundation. The scholarships were $1,500 each. He said approximately $58,000 was awarded the previous year.

He asked Mrs. Grayson to elaborate.

She said the program began in 2006 with the Foundation providing scholarships to high school graduating seniors. She noted that in 2009 the Foundation awarded 39 high school seniors a total of $58,500. She said these were provided to promote academic achievement, support community involvement and enhance community awareness of credit unions within the communities.

She stated that each chapter selected four schools in their area to participate in the program. The Foundation staff worked with credit union chapter presidents and guidance counselors across the state to identify seniors in their high schools that met the qualifications to receive the scholarship, as well as those that were in step with the credit union philosophy of “people helping people’ and also understood the importance of financial literacy.

Mr. Scott Morgan provided a brief update of the Income Statement and Balance Sheet for the FCU Foundation.

Mrs. Grayson stated that management’s recommendation was to continue to provide high school scholarships to graduating seniors in 2010 in these 12 chapters, up to four schools per chapter in the amount of $1,500 per student. She stated that one exception was given to Central Florida Chapter who would have 5 schools as a result of their merger with the Imperial Polk Chapter in 2007.

Upon motion made by Mrs. Mary Wood and seconded by Ms. Tina Williams, it was, VOTED:

to approve management’s recommendation to have the Florida Credit Union Foundation continue to provide high school scholarships to qualified, graduating seniors in 2010. These scholarships in the amount of $1,500.00 would be offered up to four schools in each of the 12 chapters, with the exception of the Central Florida Chapter who would receive five scholarships as a result of their merger with the Imperial Polk Chapter.

ADOURNMENT The meeting adjourned at 9:45 a.m.

Respectfully submitted,

Steve Swofford, Secretary Teresa Gray, Recording Secretary