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CU News (04-27-12)









The Pulse (04-27-12)

April 27, 2012    ●    Volume 01, Issue 17

View 04-27-12 issue of The Pulse

Credit Union News


Join MnCUN in promoting the Bankziety campaign

As the Bankziety campaign continues to build momentum, the Minnesota Credit Union Network is calling credit unions to join it in promoting the campaign to consumers and members. This statewide consumer awareness campaign uses a variety of online channels to educate consumers age 21-35 about credit unions and encourages them to make the switch.

While the campaign is geared toward non-members, credit unions can utilize their current members to help spread the word. To assist you in doing this, MnCUN has developed collateral materials for credit union use, including a sample newsletter article and website text, lobby posters and a web sticker. In addition, credit union professionals and volunteers are encouraged to tell their friends and family about the campaign and encourage them to join the Facebook contest that allows consumers to share their financial frustrations for a chance to win $2,000. 

To learn more about the campaign and to download the collateral materials, visit the Bankziety page of the Network website. Support this statewide campaign and join the Network in presenting credit unions as the cure to Bankziety!


Cheney provides national insights at MnCUN Annual Meeting

During MnCUN’s Annual Meeting on April 13-14, CUNA President/CEO Bill Cheney provided attendees an overview of national credit union issues and initiatives.

Offering a national perspective on the movement's current issues, CUNA President/CEO Bill Cheney provided Minnesota credit unions insight into past successes and current opportunities during the Network's Annual Meeting on April 13-14 in Bloomington. Speaking on a slate of topics including membership growth, member business lending (MBL) legislation, supplemental capital, and regulatory burden, he encouraged attendees to remain engaged credit union champions and advocates.

Credit unions experienced tremendous growth in 2011 and have an opportunity to further distinguish themselves in communities around the country and on Capitol Hill, Cheney noted. He explained that credit unions' legislative initiatives are now more aggressive and focused on furthering the issues important to the movement, regardless of potential backlash from the banking industry.

"For too long, we let the bankers set the tone,” Cheney said. "We're not going to do that anymore.”

Cheney outlined how current MBL legislation would distinguish credit unions as a strong political force to be respected. Legislation currently being considered in the Senate would raise credit unions' MBL cap to 27.5 percent of assets. The bill would enable credit unions to provide more capital to small businesses across the country.

"MBL isn't a bank versus credit union issue. It's about small businesses. The passage of this legislation is important – even if your credit union has never made a business loan and never plans to make a business loan,” Cheney said.

In addition to discussing MBL, he also outlined CUNA's efforts to lessen credit unions' compliance burden by representing their interests in conversations with several regulatory agencies, including the NCUA and the Consumer Financial Protection Bureau (CFPB).

Throughout the weekend, Cheney also participated in a variety of conference events focused on further developing Minnesota credit union professionals and volunteers. During a luncheon on Friday, he sat on a panel of cooperative leaders who discussed how credit unions and cooperatives can more effectively work together. In addition, Cheney provided wisdom, advice and insight to young professionals during a Crew event held in conjunction with MnCUN's Annual Meeting. The Crew is Minnesota's informal networking group for credit union professionals age 35 and younger looking to grow in their career.


MnCUN honors its Professional & Volunteer of the Year

On April 14, Yvonne Condell (above) of Affinity Plus FCU Board received MnCUN's Outstanding Volunteer of the Year Award and Dick Nesvold (below) of SouthPoint FCU received MnCUN's Outstanding Professional of the Year Award.

The Network announced the recipients of its two most prestigious awards on April 14. The Outstanding Credit Union Volunteer of the Year and the Outstanding Credit Union Professional of the Year awards are honors bestowed upon two individuals for demonstrated excellence and embodiment of the credit union mission.

The Volunteer of the Year Award is given each year to one outstanding credit union volunteer who personifies the credit union spirit and is dedicated to the credit union mission of "people helping people.” Recipients are chosen based on their involvement with credit unions at local and state levels, along with participation in other activities within their communities that help advance the credit union movement.

This year's honoree was Yvonne Condell of Affinity Plus Federal Credit Union. Condell has served Affinity Plus as a board member for 16 years. In that time, she has taken on various executive roles as Secretary, Vice Chair and Board Chair. She is also actively engaged in the Affinity Plus Foundation, committing her time to its many initiatives and fundraisers. Her time spent as a professor at Minnesota State University Moorhead has also inspired her work as a true advocate for the Foundation's mission to promote financial literacy.

Additionally, the 2012 Professional of the Year Award was given to a remarkable individual who truly gives all he can to improve his credit union and pours his time and talents into furthering the advancement of credit unions statewide and internationally. This award is given to a person who works to selflessly promote the credit union ideal, and this year's deserving honoree was Dick Nesvold of SouthPoint Federal Credit Union.

Nesvold has served SouthPoint Federal Credit Union as President & CEO for 16 years. Under his leadership, the credit union has seen a steady rise in membership, a huge expansion of products and services, and the opening of two branch offices. Nesvold exemplifies the credit union philosophy by being involved in the Credit Unions for Kids committee and Kids Against Hunger events. At the international level, he has helped develop a partnership between credit unions in Minnesota and Paraguay – through the organization CENCOPAN.

The Professional and Volunteer of the Year Awards are coordinated by MnCUN's Award Committee and judged by an outside committee.


Register today for MnCUN's Collections & Bankruptcy Workshop

Credit union professionals have until Thursday, May 3, to register for the Network's 2012 Collections & Bankruptcy Workshop. During this workshop, attendees will learn the secret weapons to collections and explore how to guide members through the bankruptcy process.

This two-day training focuses on advanced collections topics such as identifying economically troubled members, creative loan modifications and repossession essentials. It will also address ways credit unions can navigate bankruptcies and arm attendees with the tools to avoid bankruptcy land mines.

Nationally-recognized presenter David Reed, an attorney and founder of the credit union consulting practice CU Doctor, will teach participants best practices for an effective collections process and help them explore loss reduction concepts and recovery methods.

Don't miss out on this informative seminar! For more information and to register, visit the Collections & Bankruptcy Workshop page of the Network website. Attendees may register for one day or both days of this training.


Last chance to register for NCUA's free small credit union workshop

Small credit unions have less than two weeks remaining to register for NCUA's free workshop on May 11 at the Marriott Hotel in Bloomington. This event will provide tools and information to help credit unions tackle current issues facing the movement.

Geared toward professionals and volunteers of small credit unions, this workshop will discuss examination issues, fraud detection, ALM and director duties. Attendees will also examine how to run a profitable credit union, the initiatives of the Office of Small Credit Unions, and new rules and regulations. Upon completion of the workshop, participants will receive a certificate of attendance.

For more information and to register, visit the Event Calendar section of the Network website. Space is limited and registration is available on a first-come basis.