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2012 Accomplishments

Accomplishments 2012

The primary purpose of the Minnesota Credit Union Network is to ensure the success, growth and vitality of our member credit unions. To this end, MnCUN channels the collective energy of credit unions throughout the state and works to lead the industry into the future – together.

Over the past decade, MnCUN has consistently maintained an affiliation rating of more than 90 percent. Through our core service areas, we strive to create the environment to promote credit union growth in the state of Minnesota. With MnCUN's strategic goals in mind, the following list provides a glimpse into our activities and accomplishments for 2012.

For additional member information about staff contacts and available services, visit the MnCUN Membership page of the Network website. 

Legislative Advocacy – shaping the industry's future by creating a favorable legislative environment

  • engaged in lobbying at the State Capitol and in Washington, D.C., to pass policy provisions to strengthen the credit union charter and defend against adverse legislation
  • worked with U.S. Senator Al Franken to co-sponsor credit union member business lending legislation (S. 2231)
  • amended a state-level bill (H.F. 2174) to allow Minnesota credit unions equal opportunity to accept deposits from public entities
  • actively lobbied on and monitored more than 60 bills in the state legislature that could affect credit unions and their operations
  • raised more than $60,000 for political action committees that support credit unions, ensuring the prominence of Minnesota credit unions in state and federal politics
  • demonstrated political power and influence with 93% of credit union-supported candidates elected to the Minnesota Legislature in November

Compliance Support – helping to ease the regulatory burden on credit unions

  • operated a compliance resource center, fielding credit union compliance inquiries by phone and email
  • added the Compliance & Audit Services program to offer compliance and audit assistance to credit unions
  • worked with CUNA to resolve the erroneous automatic revocation of state-chartered credit unions' tax exempt status by the IRS
  • assisted credit unions in navigating the re-implemented Minnesota Department of Commerce Unclaimed Property Division compliance and audit program 
  • enhanced communications to members through weekly newsletter articles and monthly deadline reminders 

Regulatory Advocacy – monitoring regulatory activity & deepening key relationships

  • submitted comment letters to NCUA on proposed rules on loan participations, emergency liquidity, and the definition of "troubled condition” 
  • filed an amicus brief with the Minnesota Supreme Court to protect credit unions during the foreclosure process
  • facilitated regular meetings and ongoing dialogue with regional leaders at NCUA and the Minnesota Department of Commerce

Communications – disseminating information to credit unions, consumers & the media

  • launched a consumer-focused campaign, Bankziety, to increase awareness of credit unions among young adults 
  • collaborated with the Filene Research Institute to provide data and recommendations to credit unions for attracting Gen Y consumers
  • deepened media relationships and provided tools and resources to help credit unions enhance their media efforts 
  • expanded MnCUN's social media efforts on Facebook, Twitter and LinkedIn to improve consumer awareness and target younger members
  • established a new weekly newsletter, The Pulse, to provide more timely information on current events, legislative developments, compliance information and more 
  • led the Minnesota effort to celebrate and bring recognition to credit unions through the International Year of Cooperatives

Education & Networking – providing opportunities for interaction and development

  • provided education for 101 credit unions through 116 live and virtual training offerings
  • fostered networking and collaboration through the coordination of 19 department-specific roundtable meetings
  • launched The Crew, a young professionals networking group to promote leadership development
  • established a comprehensive slate of "webinars on demand” to allow for virtual training at any time

Products & Services – delivering solutions & savings to credit unions

  • established a fee-based Compliance & Audit Services program to offer in-house assistance to credit unions
  • built four new strategic partnerships with leading industry providers: PolicyAid, AmeriCU Mortgage, LSS Financial Counseling and American Deposit Management. 
  • enhanced MnCUN's strategic planning and consulting services
  • provided product and service discounts and group pricing through strategic alliances and CUNA Strategic Services
  • worked with MnIPC to add remote deposit capture and expand business development into new markets
  • promoted and supported CUNA Mutual Group products, which are offered by 85 percent of Minnesota credit unions

For additional member information about staff contacts and available services, visit the MnCUN Membership page of the Network website.