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CU News (05-11-12)









The Pulse (05-11-12)

May 11, 2012    ●    Volume 01, Issue 19

View 05-11-12 issue of The Pulse

Credit Union News


Archive of Filene Gen Y webinar now available

Credit union professionals and volunteers that missed the first installment of MnCUN's Gen Y webinar series can listen to a recording of the session online. Presented by the Filene Research Institute, the webinar series highlights the results of research commissioned by the Network that investigates how Minnesota credit unions can attract and retain younger members.

The first webinar focused on outlining the young adult challenge and understanding their needs. The session discussed how to conduct a successful focus group, the importance of observing consumer behavior, and ways to measure progress. The sound recording, along with the webinar handouts, are available on the Gen Y page of the Network website. 

Credit union professionals and volunteers are also invited to participate in the second live webinar in this series. "Young Adult Products & Services” will be held on Thursday, May 31, from 10 a.m.-11:30 a.m. This webinar will examine products and services credit unions have successfully introduced or enhanced so that they appeal to young adults. To register for this webinar and the others in the series, visit the Gen Y page of the Network website.


Credit unions: Begin preparing for national awards competitions

Calling all credit unions with award-worthy projects! It's time to start assembling materials for the 2012 Dora Maxwell Social Responsibility Award, Louise Herring Award for Philosophy in Action, and Desjardins Financial Education Awards. Watch for entry forms and program information that will be posted on the Network website in the coming week.

Below are brief descriptions of each award program:

  • The Dora Maxwell Award honors credit unions that promote social responsibility and recognizes them for charitable works in their communities.
  • The Louise Herring Award praises credit unions for their work internally to promote the credit union philosophy in their daily operations.
  • The Desjardins Youth and Adult awards recognize credit unions and chapters that are leaders in youth and adult financial education.

These state competitions are the precursor to CUNA's national awards contests. Winners of the state awards go on to compete at the national level.

Submissions can be made for one or all of these awards programs. The deadline for award submissions is Monday, July 16. With questions, contact MnCUN Communications Specialist Kelli Baxter by email or call (651) 288-5503.


Young professionals group receives insight from industry experts

CUNA President & CEO Bill Cheney (left) provided young professionals career advice and insight during MnCUN’s Crew event held on April 14.

Members of the Network's young professional group The Crew tapped into the insight of industry professionals during a roundtable meeting on April 14. Coordinated in conjunction with MnCUN's Annual Meeting & Convention, this event featured CUNA President & CEO Bill Cheney, MnCUN President & CEO Mark Cummins, and credit union branding expert Mark Arnold providing career advice and wisdom.

Launched this year, The Crew is an informal, event-based networking group for young professionals who have the desire to grow in their career. The group is geared toward professionals under the age of 35 and provides individuals with professional development and networking opportunities. At MnCUN's major credit union conferences, Crew members receive discounted pricing and have special access to speakers, key credit union leaders, and unique event programming.

During the roundtable featuring Cheney, Cummins and Arnold, Crew members asked the industry experts questions about career development, effective networking tactics, and the lessons they've learned over the years. When asked for his advice on how young people can grow professionally, Cheney encouraged attendees to take responsibility for their careers. He urged Crew members to find a mentor "who is willing to invest their experience in your career.” He also challenged them to strive to be industry leaders – regardless of their current position.

As he reflected on his career, Cummins urged Crew members to take full advantage of networking opportunities offered at chapter meetings and other industry events. Emphasizing the importance of pursuing and embracing challenges, Cummins stressed the value of taking career risks. Building upon Cummins advice, Arnold encouraged the young professionals to follow their passions, even if they don't know where it will take them.

In addition to the roundtable, Crew members participated in a networking pizza party during the Annual Meeting that provided them the opportunity to connect with other young credit union professionals from around the state. Committed to developing the next generation of leaders, MnCUN will continue to provide Crew members unique programs and activities aimed at helping them grow professionally.


Filene accepting applications for innovators group

The Filene Research Institute is now accepting applications for its i3 innovation program. This group of innovators creates new products, services, business models and processes that aim to transform consumers' financial lives.

Seventeen candidates will be selected for two-year terms. To be considered, candidates must be executives at credit unions or credit union service organizations (CUSOs) who are not CEOs but are considered leaders or future leaders in the credit union system. Applicants must have the support and commitment from their credit union's CEO or manager. Other requirements include a commitment to:

  • Pilot at least two i3 ideas;
  • Attend two national meetings per year in their entirety (two to three days each);
  • Cover all travel costs associated with involvement; and
  • Attend regular group work and project meetings beyond national meetings.

Applicants must complete the application form, take an online 100-question behavioral/entrepreneurial assessment, and take a short "grit" test (to determine perseverance and passion for the work). The application deadline is Thursday, May 31, and candidates will be selected and notified by mid-August. For more information and to apply, visit the Filene Research Institute website. 


CU Online changes detailed in May 15 webinar

The National Credit Union Administration is offering a free webinar scheduled for Tuesday, May 15, at 1 p.m. that will outline changes the agency intends to make to its CU Online system. The Credit Union Online system is a web-based data collection system that allows credit unions to file 5300 call reports and to post profile information.

The NCUA launched CU Online on Sept. 1, 2009, and the changes coming in late May are the first major upgrades to the system. The modifications, according to the NCUA, will include an enhanced user interface, the ability to convert call report and profile information into pdf files, and other basic interface changes that will help users make their call report calculations and avoid leaving information out of their profiles.

While this webinar is free, pre-registration is required. To register, visit the National Credit Union Administration website. 


Credit union recognition…

  • Last week First Alliance Credit Union was named one of the best places to work in Southeast Minnesota by Workforce Development, Inc. Recognized in the category of organizations with 75 employees or less, First Alliance was honored for its unique employee benefits program, corporate culture and commitment to workplace flexibility.
  • TopLine Federal Credit Union recently won two Art-Response-Copy Awards from the Midwest Direct Marketing Association for its integrated multi-media campaigns, "Just Refinanced" and "Time for a Change."


Credit union notes…

  • Metro Credit Union in Superior, Wis., recently merged into Hermantown Federal Credit Union in Hermantown, Minn. The merged credit unions have more than $110 million in assets and serve more than 16,700 members.
  • Ely Steelworkers Credit Union recently merged into Northridge Community Credit Union. The merged credit unions have more than $34 million in assets and serve nearly 4,500 members through locations in Ely, Hoyt Lakes, Biwabik and Virginia.