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Webinar - The Two Most Important Numbers for Dealing with IRAs & HSAs

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The Pulse (02-15-13)










The Pulse (02-15-13)

Feb. 15, 2013    ●    Volume 02, Issue 7

The Pulse Archive

Credit Union News


Nominations open for Network Board seats; Election Committee appointed

In May, MnCUN will hold elections for four seats on its Board of Directors. The official Call for Candidates was sent Feb. 12, and nominations will be accepted through Monday, March 18, for the seats listed below:

  • Metro Seat (currently held by Jeff Schwalen of Hiway FCU)
  • Non-Metro Seat (currently held by Kelly McDonough of First Alliance CU)
  • 2,001-10,000 Members Seat (currently held by David Sawin of Minnesota Catholic CU)
  • 2,000 or Fewer Members Seat (currently held by Karen Fleming of HBI ECU)

Additionally, the Network announced the members of the 2013 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.


Minnesota's Vendor Involvement Program welcomes 18 for 2013

The Minnesota Credit Union Network welcomed 18 participants into its Vendor Involvement Program (V.I.P.) for 2013. Designed to optimize business relationships with Minnesota's credit unions, this program combines advertising with exclusive benefits at MnCUN's major conferences, as well as speaking engagements and opportunities to participate in new MnCUN initiatives.

V.I.P. is a program created in 2005 to provide committed service organizations with an opportunity to work with MnCUN and increase brand visibility among Minnesota credit unions. Of the 18 total organizations, one is a new participant this year. Seventeen others are repeat V.I.P. organizations and have renewed their participation for 2013. MnCUN's V.I.P. participants are dedicated to serving credit unions and their members by providing quality products and competitive pricing.

Repeat participants include:

  • CUNA Mutual Group
  • Alloya Corporate Federal Credit Union
  • AmeriCU
  • CO-OP Financial Services
  • CU Companies
  • Emergent Networks
  • First Class Mortgage
  • FIS
  • ICUL Card Services
  • Locknet IT Solutions
  • Minnesota Housing Finance Agency
  • MnCUSC Shared Branching
  • MnIPC
  • Murnane Brandt, P.A.
  • Repossessors Inc.
  • Skilcraft Plus
  • Wipfli

New V.I.P. vendor SPEDCO is an organization that works with financial institutions to help secure small business lending opportunities. The company works closely with credit unions to help borrowers receive the financing needed to help their small businesses grow.

"The Vendor Involvement Program gives credit union service providers an easy way to promote their offerings to Minnesota credit unions,” said MnCUN Vice President – Network Service Corporation John Ferstl. "At a time when companies are looking to get the most out of their advertising budgets, this program provides specific opportunities to target potential clients and can help create brand loyalty among credit unions.”

To learn more about these product and service provides, visit the Vendor Involvement Program page of the Network website.

Participants in MnCUN's Vendor Involvement Program agree to offer professional service and quality product lines. These companies must appreciate the characteristics that make credit unions unique and understand the importance of providing the best service possible to Minnesota's credit union members. Participation in the Vendor Involvement Program does not constitute an endorsement by the Minnesota Credit Union Network.


Calling all CFOs! MnCUN introduces new roundtable opportunity

Credit union chief financial officers and finance professionals are invited to attend MnCUN's inaugural CFO roundtable on Thursday, March 28. In response to requests from members, MnCUN created this education opportunity to enable credit unions to discuss with their peers topics surrounding credit union financial operations.

Roundtables provide credit union professionals with the opportunity to meet and exchange ideas with peers in the credit union movement. At these meetings, attendees set the agenda. Individuals bring their questions, ideas and materials to share, and participants benefit from the knowledge and experiences of others.

In-person and teleconference participation options are available for this roundtable. To learn more about the CFO roundtable and to register, visit the Event Calendar section of the Network website.


Join the savings revolution Feb. 25-March 2

Minnesota credit unions are encouraged to join organizations across the country for America Saves Week from Feb. 25-March 2. Started in 2007, this week is an annual opportunity for organizations to promote good savings behavior and encourage individuals to assess their saving status. By participating in this initiative, Minnesota credit unions demonstrate their commitment to helping members reach their financial goals.

America Saves Week provides financial institutions the opportunity to provide tools to strengthen and increase consumers' savings habits. Credit unions are encouraged to use America Saves Week to attract new members, offer incentivized accounts to help people save, increase account balances, and educate individuals on the importance of saving. To help credit unions accomplish these four goals, the program offers a toolkit full of marketing materials and resources, including:

  • Fliers and posters;
  • Logos, web buttons and banners;
  • Sample Facebook and Twitter posts;
  • QR Codes;
  • Sample press release;
  • Sample articles; and
  • PowerPoint presentations.

To access these materials, credit unions must sign up to participate in America Saves Week. For more information and to sign up, visit the America Saves Week page of the Network website.


Free Federal Reserve webinar focuses on unfair and deceptive practices 

On March 5, credit unions have the opportunity to participate in a free webinar focused on compliance issues related to financial institution unfair and deceptive practices (UDAP). Hosted by the Federal Reserve System, this session will provide insight into UDAP standards, review case studies and outline emerging areas of risk.

The webinar is part of an ongoing series focused specifically on consumer compliance issues. This session will cover UDAP topics, including:

  • UDAP legal analysis and examination procedures;
  • UDAP and bank holding company risk;
  • Case studies and emerging areas of risk; and
  • Recommendations for implementing an effective UDAP compliance program.

The webinar will also cover the legal authority of the Federal Reserve under the Federal Trade Commission Act to enforce UDAP. The FTC Act charges the Federal Reserve, along with the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration, to enforce UDAP, issue rules and regulations and receive consumer complaints. Webinar attendees will have the opportunity to participate in a question and answer segment with the Federal Reserve.

To learn more about the webinar and to register, visit the Event Calendar page of the Network website. 

At the Capitol

Congress reintroduces credit union MBL bill

Senate introduces bill to crack down on e-payday loans

CFPB reminds mortgage servicers about consumer protections for loan transfers

CDFI Fund announces recertification deadline

HUD issues rule formalizing discriminatory effects on housing

Department of Labor issues final rule expanding FMLA coverage for flight crews and military members