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CU News (01-13-12)

The Pulse (01-13-12)

January 13, 2012   ●   Volume 01, Issue 02

View 01-13-12 Issue of The Pulse

Credit Union News

CU Day early bird pricing ends Jan. 19

Credit union professionals and volunteers have less than a week to take advantage of the early bird pricing for MnCUN's Credit Union Day at the Capitol. This day of advocacy provides supporters the opportunity to bring the credit union message to the State Capitol.

Set for Feb. 16 at the Saint Paul RiverCentre, CU Day serves as the unofficial kickoff to local political involvement in 2012. Attendees will receive advocacy tips, hear legislative updates and visit their elected officials at the State Capitol. In addition, those under the age of 35 will have an opportunity to participate in unique networking and education opportunities through MnCUN's The Crew at the Capitol.

Register today to attend this important advocacy event. Those that register by Thursday, Jan. 19, will receive $40 off the registration price. For more information and to register, visit the Credit Union Day at the Capitol page of the Network website.


Nominations open for Network Board seats; Election Committee appointed

In March, MnCUN will hold elections for six seats on its Board of Directors. The official Call for Candidates was sent Jan. 6, and nominations will be accepted through Feb. 13 for the seats listed below:

  • Metro Seat (currently held by Patrick Pierce of City & County CU)
  • Non-Metro Seat (currently held by Chuck Albrecht of Mid-Minnesota FCU)
  • Non-Metro Seat (currently vacant)
  • Greater Than 10,000 Members Seat* (currently held by Harry Carter of TopLine FCU)
  • 2,001-10,000 Members Seat (currently held by Nick Meyer of Minnesota Valley FCU)
  • 2,000 or Fewer Members Seat* (currently held by Jim Carrier of Employees First CU)

*The current director has served three full terms consecutively and cannot run for re-election.

Additionally, the Network announced the members of the 2012 Election Committee:

The Election Committee is selected annually by the MnCUN Board Chair and is comprised of a minimum of three individuals who oversee and conduct the mail ballot election. With questions about the MnCUN elections, please contact any member of the election committee.


FIC scholarships open until Feb. 1

If you know a credit union member who could use a financial boost toward their college education, encourage them to submit an application for the Family Involvement Council's annual scholarship program. This year, the FIC is awarding $12,000 in scholarships to Minnesota credit union members, which include two $1,000 awards and twenty $500 awards.

To be eligible to receive these scholarships, the applicant must be a member of a credit union affiliated with the Minnesota Credit Union Network. Applicants who are not members but whose parents or other relatives are credit union members are not eligible. Additional eligibility requirements and an online application form can be found on the FIC website. Applications must be submitted by Wednesday, Feb. 1.


Submit nominations for MnCUN's awards

Each year the Minnesota Credit Union Network recognizes individuals in the state whose efforts to better their credit unions and the movement have set them apart. The Network is now accepting nominations for its Outstanding Professional of the Year and Volunteer of the Year awards and the Simon Hellermann Award for Credit Union Philanthropy

Presented annually, the Professional and Volunteer of the Year awards recognize individuals who have gone above and beyond in their service to their credit union and the movement. The Simon Hellermann Award is presented on a three year-cycle, last awarded in 2009, and recognizes an outstanding philanthropic effort for a humanitarian cause within the credit union movement. Individuals, credit unions, chapters and vendor organizations are eligible for this award.

Additional information and downloadable nomination forms are available on the Recognition Awards page of the Network website. All nominations must be submitted by Friday, Feb. 10. The award winners will be recognized with a video tribute that will be shown at the Network Annual Meeting on April 13-14.


NCUA launches two new web sections

In late December, NCUA unveiled two new sections of its website focused on the NCUA Guaranteed Notes (NGN) program and corporate credit union system resolutions costs. Aimed at increasing transparency, these sections offer additional details on both issues, including background information, profiles of legacy assets and their performance, current loss projection ranges, and data on the ongoing performance of the NGNs.

The NCUA said it considers the two new web resources to be "works in progress," meaning that they will continue to be built and bolstered with new or additional information.Through regular updates, the agency will work to provide added clarity to the complex subjects of the NGN program, as well as transparency for the resolution costs associated with the resolution of the corporate credit union system's problems.

The new web sections can be accessed
by clicking on the "Corporate System Resolution Costs" and "NGN Program Information" links under the "Credit Union Resources and Information" tab.


Credit union notes…

  • Kato Engineering Employees Credit Union merged into Minnesota Valley Federal Credit Union on Jan. 1. The merged credit unions will have more than $80 million in assets and will serve more than 10,000 members through two locations in Mankato. In conjunction with the merger, Kato Engineering ECU President Deanna Snow Beise retired from her position at the credit union.