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CU News (01-27-12)

The Pulse (01-27-12)

January 27, 2012   ●   Volume 01, Issue 04

View 01-27-12 Issue of The Pulse

Credit Union News


Last chance to register for CU Day

Credit union professionals and volunteers have until Thursday, Feb. 2, to register for MnCUN’s Credit Union Day at the Capitol. This event brings credit union supporters together to learn about advocacy and communicate the movement’s message at the State Capitol.

 

With a theme of "Minnesota Credit Unions: A Smarter Choice," this year’s CU Day will remind state legislators of the importance of Minnesota credit unions and the ways they help make the state more secure. Attendees will receive pertinent legislative updates and first-hand knowledge from legislators about the 2012 Legislative Session. During the afternoon, participants will visit the State Capitol to meet with their representatives and senators to discuss issues important to credit unions. The day will conclude with a late-afternoon reception, offering an opportunity to network with other credit union professionals and volunteers from around the state.

 

In addition, MnCUN is offering an event for young credit union professionals. Join the Crew at the Capitol for an introduction to state politics and legislative advocacy! Discounted pricing is available to Crew participants, along with opportunities to shadow legislative visits and attend an exclusive reception. 

 

Be sure to be part of this important advocacy event! For more information and to register, visit the CU Day page of the Network website.


Hometown CU opens first student branch in Minnesota

Hometown Credit Union celebrated the grand opening of its new student branch at Owatonna High School on Jan. 18. It’s the first of its kind in Minnesota and opened at the beginning of the school year.

Hometown Credit Union made a first-of-its-kind move in Minnesota by opening the state's first student branch. The Owatonna-based credit union recently celebrated the grand opening of its branch in Owatonna High School on Jan. 18.

The credit union has been working with teachers, the school board and school administrators for the past five years to make the student office a reality. The on-campus branch, which is operated by student workers and supervised by a Hometown Credit Union manager, has been open since the beginning of the school year. Though the opening of this in-school credit union is a milestone for Hometown Credit Union, the more important aspect is the financial literacy teaching tool the branch provides.

"We really pushed the financial literacy component when we proposed this idea (for the student credit union branch),” said Marian Murphy, Vice President of Business Growth at Hometown Credit Union. "Financial education is not a requirement in Minnesota schools, but just having a student (credit union) branch can help spark their interest in financial education.”

Murphy explained that the high school’s marketing classes are using the branch as the impetus for creating advertising campaigns about the importance of students investing and saving for the future. There are plans for art students to create a concept for a mural outside the branch office that encourages financial literacy. The branch also promotes a weekly trivia game that offers students a small incentive for stopping by the branch office.

The branch is available to students and faculty at the school and is open from 11 a.m.-1 p.m. daily, allowing students to visit during the school's four half-hour lunch periods. Currently, the branch conducts a little more than 200 transactions per month and could expand its hours, depending on demand. The youth-run credit union office also has a long-term goal of having students develop and implement a business plan for the office.


National Credit Union Youth week set for April 22-28

Join the movement in celebrating credit unions in April by coordinating activities during National Credit Union Youth Week on April 22-28. Credit unions can celebrate the entire month or just during youth week – the choice is completely up to you.

This year’s theme is "Be a Credit Union Super Saver” and will focus on the benefits youth receive by being credit union members. To help you celebrate, CUNA has several ready-to-use materials for promoting the celebration to several age groups.

Your credit union is also invited to join the National Youth Savings Challenge. This contest encourages the habit of saving at an early age, builds member loyalty, and helps lower the average age of members. Plus, members participating in the challenge will have a chance to win $100.

Be sure to participate in this year’s National Credit Union Youth Week. For more information and to sign up for the Savings Challenge, visit the National Credit Union Youth Week page of CUNA’s website. 


Credit unions honor "builders” through the Minnesota Credit Union Foundation

Four remarkable individuals received prestigious honors and the designation of "Credit Union Builder” last year as credit unions around the state paid tribute to professionals and volunteers.

The Credit Union Builder is a recognition program through the Minnesota Credit Union Foundation that allows credit unions to make contributions in honor of (or in memory of) a significant individual who has been instrumental in their success. Contributions are typically made at a special time of significance – i.e. upon retirement from the credit union or board or upon the individual's passing – to acknowledge their contributions to their credit union and the greater credit union community.

 

The name of the recipient and the donating credit union are permanently displayed in the Minnesota Credit Union Network's lobby as a tribute to those who have dedicated time and energy to building the credit union movement. The honorees (or their families, in the case of a memoriam contribution) receive acknowledgment from the Minnesota Credit Union Foundation, and donors are also listed online and in the Foundation's annual report.

 

2011 Credit Union Builder honorees include:

  • Lynn Kothe, honorarium contribution made by North Memorial Federal Credit Union
    Lynn became the President of North Memorial FCU in 1978, growing the organization from $369,000 in assets to $32 million before her retirement in 2012. During her years in the movement, she was actively involved in politics at the local, state and national levels. More
  • John E. Larson, memoriam contribution made by Liz Larson & Minnco Credit Union
    John Larson was dedicated to the members of Minnco Credit Union. He served as a volunteer for 28 years, serving 10 years on the credit committee and 18 on the board of directors. More
  • Marv Folkestad, memoriam contribution made by Richfield Bloomington Credit Union
    Marv was involved in the Bloomington Schools Credit Union from 1964 until 1991 as a board member and board president. Upon the merger with Richfield Schools Credit Union in 1991, he served as a board member until his death in 2009. More
  • Quentin Johnson, honorarium contribution made by Richfield Bloomington Credit Union
    As a RBCU board member for 44 years, Quentin was involved in many major strategic decisions in the credit union’s 54-year history. He retired from the board in 2011 after many successful years of growth at RBCU. More

A minimum $1,000 contribution is required for the Credit Union Builder Award. The Minnesota Credit Union Foundation, Inc., St. Paul, Minn., is a tax-exempt 501(c)(3) organization. For tax purposes, your contribution may be tax-deductible. Visit the Foundation website for additional information or to make a contribution today! With questions, please contact MnCUF staff liaison Kristina Wright