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CU News (05-18-12)









The Pulse (05-18-12)

May 18, 2012    ●    Volume 01, Issue 20

View 05-18-12 issue of The Pulse

Credit Union News


Last day to update your profile on MnCUN's website

As part of an ongoing goal to keep its database up-to-date, MnCUN is asking individuals to update their profile on the Network's website by the end of the day today. Conducted on a semi-annual basis, this process enables MnCUN to effectively provide news and information to its various audiences.

All of the contacts in the Network database received an email last week asking them to take a moment and update their profile on mncun.org. Individuals should sign into their account on MnCUN's website and review their profile to ensure that the contact information is accurate. In addition, on their profile page, individuals can provide information about their department(s).

Everyone must update their profile by the end of the day today. Those who do not log into their account and review their profile will be put into a queue to be deleted from the Network's database.

Individuals who don't have a profile on the Network's website, can sign up for one on the member registration section of the Network website. With questions about your profile, contact MnCUN Director of Technology Scott Shoberg by email or at (651) 288-5525.


MnCUN's new program provides CUs compliance relief

Recognizing the challenges of staying on top of ever-increasing regulatory requirements, the Network has officially launched its Compliance Services Program. This program offers credit unions the opportunity to work with a Compliance & Audit Consultant who will help them fulfill their compliance obligations.

Providing maximum flexibility to meet credit unions' unique needs, the program offers credit unions two outsourcing options. The first option allows credit unions to contract for ongoing assistance in managing their internal compliance programs. Through this option, MnCUN's Compliance & Audit Consultant works onsite at the credit union for a specific number of hours on a quarterly basis. The second option focuses on providing credit unions assistance in completing specific compliance tasks.

To provide credit unions this regulatory compliance expertise, MnCUN has hired Marcia Lewis to fill the newly-created Compliance & Audit Consultant position. Lewis has 25 years of hands-on financial institution experience that has given her an in-depth understanding of the intricacies of credit union operations. Her areas of expertise include risk management, internal audit, training, compliance and operations. Lewis has been a certified compliance officer since 1997 and has been designated a Certified Financial Services Auditor since 1998.

Through Lewis' expertise, MnCUN is able to offer credit unions services on a variety of compliance topics, including:

  • Bank Secrecy Act;
  • Collections;
  • Compliance Training;
  • Consumer Lending;
  • Credit/Debit Card Administration;
  • Deposit Products/Overdraft Protection Programs;
  • FACT Act;
  • Real Estate Lending;
  • Reconciliations/Accounts Payable/Expense Reports;
  • SAFE Act;
  • Vendor Management; and
  • Website/Marketing/Advertising.

The Compliance Services Program is a cost-effective way to gain expertise in complying with the growing regulatory requirements facing credit unions. For more information about the Compliance Services Program, visit the Network website or contact Marcia Lewis by email or at (651) 288-5509.


Filene webinar on Gen Y products and services set for May 31

Credit unions seeking innovative ways to recruit and retain Gen Y members are invited to attend Filene Research Institute's webinar "Young Adult Products and Services” on May 31. This free webinar is a deliverable of MnCUN's Minnesota-specific Gen Y research, which was conducted earlier this year by Filene.

The webinar will review case studies of credit unions across the nation that have successfully developed and modified products and services to appeal to young adults. Participants will use these examples as models for success and discover how they can adapt them to meet their membership's needs. The session will also highlight how credit unions can build a life-stage storyboard and use it to guide their product and service offerings.

This session is the second installment of a webinar series that provides in-depth analysis and teaching on specific components of the Filene research. A recording of the first webinar, along with the session handouts, is available on the Network website. In addition, credit unions can also download the full research report and a four-minute video that summarizes the research. To register for the May 31 webinar and to download the research materials, visit the Gen Y page of the Network website. 


MnCU4Kids Golf Tournament set for June 20

Credit unions and vendors are invited to join the Minnesota Credit Unions for Kids committee (MnCU4Kids) for its 17th annual Golf Tournament on Wednesday, June 20, at the Refuge Golf Course in Oak Grove. The tournament will begin with a shotgun start at noon, followed by a silent auction and awards dinner in the evening.

Credit unions and vendors also have the opportunity to serve as tournament sponsors. With sponsorships ranging from $150-$5,000, there are a variety of opportunities to support the event. Tournament proceeds will benefit Gillette Children's Specialty Healthcare.

For more information about the golf tournament and to register, visit the Event Calendar section of the Network website.


Annual Meeting handouts available online

Individuals who missed MnCUN's Annual Meeting, or those who would like additional copies of the meeting's supplemental materials, can now download the PowerPoint presentations from the conference's educational sessions. These handouts provide credit union professionals and volunteers valuable tools and resources they can use.

Focusing on topics ranging from financial principles to strategic planning to branding, the Annual Meeting sessions provided attendees insight into how to overcome current challenges and embrace opportunities. The session handouts summarize the speakers' key points and provide professionals and volunteers a tool they can reference and share with others. To download the session handouts, visit the Annual Meeting page of the Network website.


Five companies join MnCUN's Vendor Involvement Program

Five additional companies recently enrolled in the Minnesota Credit Union Network's Vendor Involvement Program (V.I.P.), bringing the total number of participants to 26. The V.I.P. provides vendors that are committed to supporting the credit union mission with an opportunity to increase their brand's visibility among Minnesota's credit unions.

The following organizations have become V.I.P. participants within the past two months:

  • Alloya Corporate Federal Credit Union;
  • Action;
  • CliftonLarsonAllen, LLP;
  • CU Companies; and
  • Murnane Brandt, P. A.

With products and services ranging from communications to lending and financial services and legal counsel, these organizations devote their expertise to helping credit unions meet their members' needs. Participants in MnCUN's Vendor Involvement Program agree to offer professional service, quality product lines and competitive pricing. These companies must appreciate the qualities that make credit unions unique and understand the importance of providing the best service possible to Minnesota's credit unions. Participation in the Vendor Involvement Program does not constitute an endorsement by the Minnesota Credit Union Network.

To investigate how these and other V.I.P. participants can help your credit union meet its current objectives and future goals, visit the Vendor Involvement Program page of the Network website.