Oct. 12, 2012 ● Volume 01, Issue 41
View 10-12-12 issue of The Pulse
Credit Union News
Stats show that Minnesota CUs push through slow economic growth
Although the nation continues to see marginal economic growth, Minnesota credit unions continued to show positive growth during the second quarter. This conclusion and many others are discussed in the Network's 2nd quarter profile of Minnesota credit unions, which analyzes the national and state economy and its impact on the credit union movement. Working together with economic and research experts at CUNA, MnCUN developed this quarterly report to highlight overall credit union performance, ratios and trends.
Minnesota credit unions' financial performance results were mixed during the second quarter due to the stalled national and state economy. Despite these obstacles, credit unions showed positive growth in the following areas:
- Loan balances increased 1.2 percent. This growth was due to a 5.2 percent increase in new auto loan balances.
- Membership numbers increased 1.3 percent compared to a 0.7 percent increase in membership during the second quarter of 2011.
- Delinquencies declined 1.14 percent during the second quarter. Minnesota credit unions' loan delinquency rate is less than one-half that reported by Minnesota banking institutions.
- The percentage of Minnesota credit unions considered "well capitalized” rose to 93.6 percent.
Due to the slight improvement in the labor market and the pent-up demand for cars, this year may turn out to be the strongest year for new auto sales since the start of the recession. Nationwide auto sales have averaged 14.6 million (annualized) in the first six months of 2012. In Minnesota, credit union new auto loans increased 5.2 percent and used auto loans increased by 3.9 percent in the second quarter.
For additional insights from the report, along with charts and credit union data, visit the Minnesota Credit Union Profile page of the Network website. Credit unions are encouraged to share this information internally and with members of the media. With questions about the report's information and data, contact MnCUN Controller Tommy Rempfer by email or at (651) 288-5511. With questions about disseminating this information to the media or your members, contact MnCUN Director of Communications Rachel Anderson by email or at (651) 288-5527.
Help members win $100 – MnCUN Life's Big Decisions promo materials available
Minnesota credit unions are invited to join the Network in promoting its Life's Big Decisions Facebook contest. This contest is part of the Bankziety consumer awareness campaign, which aims to educate 21-35-year-olds about credit unions and encourages them to make the switch.
The Life's Big Decisions campaign encourages consumers to vote on their favorite choices surrounding life events, such as weddings, graduation and buying a home. Those who vote are entered into a contest to win a $100 gift card, and a winner is picked each week through Nov. 10. To assist credit unions in promoting this campaign to their members, MnCUN has developed sample web text, along with a printable poster and downloadable web sticker. Add these materials to your website and display them at your branches to help spread the word about the Life's Big Decisions contest and the Bankziety consumer awareness campaign.
For more information about the consumer awareness campaign, visit the Bankziety page of the Network website. Credit unions are also encouraged to check out the contest on the Minnesota Credit Unions Facebook page.
Visit MnCUN's website and test-drive the Marketing & Media Bootcamp
Have you ever wanted to sample a conference before you registered to attend? MnCUN is offering sampler videos that give credit union professionals a sneak peek into the sessions of the Marketing & Media Bootcamp on Oct. 25-26. Don't delay; registration for this conference ends on Thursday, Oct. 18!
The Marketing & Media Bootcamp will provide attendees tools and insight for enhancing member engagement, measuring business development efforts, and improving effectiveness in media relations. By watching MnCUN's sampler videos, you will gain insight into the following speakers:
- James Robert Lay and Bryan Clagett
Learn how credit unions can actively engage members across all channels, including human interaction and technology-driven experiences. Investigate engagement banking and learn about the latest research, practices and trends.
- Celeste Cook
In her video, Celeste highlights how credit unions can successfully measure and track their business development goals and ways credit unions can build beneficial partnerships.
- Mike Lawson
Focusing on media relations, Mike discusses tips for grabbing the media's attention and maximizing media exposure.
Don't miss this conference! To view the sampler videos, for more information about the conference and to register, visit the Marketing & Media Bootcamp page of the Network website.
Learn from the convenience of your office with Webinars On Demand
Understanding the time and cost constraints facing credit unions, the Network is offering a number of learning opportunities through its Webinars On Demand. These sessions are distributed via web link and enable credit union professionals and volunteers to learn valuable information at a time that's convenient for them.
Last month, a number of Webinars On Demand became available, including ones focused on the SAFE Act, financial literacy, exams, the Credit Card Act and more. The new sessions include:
- Advanced Financial Literacy Update for New & Experienced Directors
- Credit Card Act Clarification & Best Practices
- IAT Suspect Transactions: What’s an RDFI to Do?
- Notary Essentials & Legalities for Credit Unions
- Opening Donation, Memorial & Other Accounts for Nonprofits
- Power of Attorney & Living Trust Documents
- Preparing for FFIEC Authentication Guidance Regulatory Exam
- Regulatory Compliance for All Staff & Red Flags for Identity Theft
- Reinvigorating the Bottom Line: Making Up for Lost Revenue
- SAFE Act: Tracking, Renewing and Compliance
In addition to being convenient, Webinars On Demand enable credit union to train multiple people for the price of one live webinar. For more information and to purchase a webinar, visit the Webinars On Demand page of the Network website.
National economy has direct effect on the CU movement, says NCUA
As part of its monthly video series, NCUA recently provided credit unions insight into the state of the economy, economic indicators and NCUA's emergency liquidity rule. This video is the latest in a series of YouTube videos that inform the public and credit unions about general economic and credit union-specific developments.
The September video is divided into three segments, making it easier for viewers to obtain the information relevant to them. In the opening segment, NCUA Chief Economist John Worth reviews where the economy is headed and its impact on the credit union industry. The second segment focuses on labor and housing market activity, examines how major economic indicators vary across states, and discusses how the credit union industry's performance is tied to these trends. The final video reviews NCUA's recently proposed emergency liquidity rule.
To view the September economic update and others in the monthly series, visit the NCUA's official YouTube channel.