March 26, 2010 ● Volume 33, Issue 6 Archived Issues
MnCUN Board election ballots due April 16
All credit union voting representatives should have received their official ballot for the Network Board of Directors. The following seats are up for election:
- Metro (currently held by Jeff Schwalen, Hiway FCU);
- Non-Metro (currently held by Doug Hallstrom, Minnco CU);
- 2,000 members or fewer (currently held by Karen Fleming, HBI ECU); and
- 2,001-10,000 members (currently held by Joyce Kalbakdalen, Soo Select CU).
Ballots are due to RSM McGladrey, Inc. by 4:30 p.m. on Friday, April 16. Election results will be announced at the MnCUN Business Meeting held at the Network Annual Meeting on Friday, April 23.
Annual Meeting early bird discount ends April 1
Credit unions have until Thursday, April 1, to receive $30 off the registration price for the MnCUN Annual Meeting, to be held April 23-24 at the Northland Inn in Brooklyn Park. This conference provides credit union professionals and volunteers a weekend of education, networking and entertainment.
The Annual Meeting will feature a wide variety of workshops and luncheons focused on how credit unions can grow and thrive in the current economic environment. As always, the conference will consist of a business meeting, tradeshow and interactive fundraisers. The event will conclude with the Saturday evening awards banquet, featuring credit union awards and anniversaries, along with the winners of MnCUN’s Outstanding Professional and Volunteer of the Year Awards.
Register today to take advantage of the Annual Meeting’s early bird pricing. Those that miss April 1 deadline can still register for the conference at the standard rate until Wednesday, April 14. Complete information, a printable brochure and online registration can be found on the Annual Meeting & Convention section of the Network web site.
2009 Statistical Report now available
The 2009 Statistical Report is now available! The report is a comprehensive financial report and analysis of all Minnesota credit unions, including those not affiliated with the Minnesota Credit Union Network. Available for download, the report contains financial information from Jan. 1-Dec. 31, 2009 for Minnesota credit unions.
The Statistical Report was created from data posted on the National Credit Union Administration web site on March 4, 2010. The first section of this document provides an overall statistical summary of Minnesota’s credit unions, including a combined balance sheet and income statement, key operating ratios, and data on the numbers for an average Minnesota credit union.
The second section of this document provides credit union statistics broken down by the nine credit union chapters in the state. Each chapter’s section provides a financial snapshot of individual credit unions and the chapter as a whole. In addition, the report also includes a list of Minnesota credit unions ranked by asset size.
The 2009 Statistical Report is available for download from the MnCUN Publications page of the Network web site.
Employment opportunities web page updated with new features
The Minnesota Credit Union Network’s online Employment Opportunities page has been updated with several new features, simplifying the search process for posted résumés and credit union positions.
On the Résumé Summaries web page, credit unions can now search for eligible candidates using a key word or category search. In addition, the page provides credit unions succinct summaries of the experience and qualifications of more than 25 individuals seeking employment in the credit union industry. Plus, requesting candidates’ complete résumés can be done in one click of a button.
The Positions Available web page provides affiliated credit unions with a free venue for posting their open positions. On the page, job seekers can search the positions by job title, region or category. In addition, applications submitted through the Network web site are forwarded on to the credit union.
Check out the new features on MnCUN’s Employment Opportunities page. If you would like to post a position on the Network web site, e-mail a summary of the open position and application requirements to Rachel Kuenzel, MnCUN Director of Communications.
Jump$tart Coalition to host seminar on financial literacy
In honor of Financial Literacy Month in April 2010, the Minnesota Jump$tart Coalition is hosting an afternoon seminar entitled "Preparing our Children for their Financial Responsibilities: The Case for an Early Start.” The event is scheduled for Tuesday, April 13, from 4 p.m.-6 p.m. in St. Paul.
The seminar will feature keynote speaker Art Rolnick, who is Senior Vice President & Director of Research for the Minneapolis Federal Reserve Bank. Rolnick serves as an associate economist with the Federal Open Market Committee – the monetary policymaking body for the Federal Reserve System. He is a former professor and has been honored in many circles for his work in early childhood development.
Following the keynote, the Jump$tart event will feature a panel discussion offering a variety of viewpoints and resources to help attendees provide financial education to youth.
The Minnesota Jump$tart Coalition invites all individuals and organizations interested in financial education to attend this educational networking event. Admission is free, however pre-registration is required. For additional information, visit the Event Calendar section of the Network web site.
Hone fiscal skills at MnCUN’s Financial Management School
Employees seeking to develop a better understanding of credit union financial principles are invited to attend the Minnesota Credit Union Network’s Financial Management School: Part I and II. Set for May 24-26 at the Network office, this school will blend theory with practical application to provide attendees with knowledge of credit union financial statements, key ratios, and the budgeting process.
During the first part of the school, participants will evaluate credit unions’ financial statements and calculate key ratios. The ratios will then serve as a basis for an analysis of the fiscal challenges facing the industry today.
The second portion of the school will build on Part I and take an in-depth look at the budgeting process. Learn how to set monetary objectives, develop your own budget, and investigate the common assumptions made during the budgeting process.
Complete information, a printable brochure and online registration can be found on the Financial Management School page of the Network web site. With questions about the school, contact Sue Groskreutz, Director of Education, by e-mail or phone at (651) 288-5521.
Minnesota credit unions win CUNA Marketing Awards
Affinity Plus Federal Credit Union, Members Cooperative Credit Union, and Mid-Minnesota Federal Credit Union received accolades at the CUNA Marketing & Business Development Conference held March 21-24. All three credit unions were recognized in the Diamond Awards competition at the conference.
The credit unions’ marketing pieces were chosen from among hundreds of entries that were submitted for the contest. Affinity Plus FCU received a Diamond Award in the Financial Education Category for its On the Money Program. Additionally, Members Cooperative CU received a Diamond Award in logos category for its Eco Plug logo.
Mid-Minnesota FCU was spotlighted in several categories at the conference and received seven awards. The credit union accepted Diamond Awards in the following categories:
- Direct Mail (Series);
- Financial Education;
- Business Member Packets, Brochures & Booklets;
- Membership Packets, Brochures & Booklets; and
- Newsletter or Magazine Publications.
In addition, Mid-Minnesota FCU also received Merit Awards in the following categories:
- Annual Reports; and
- Community/PR Program.
CUNA’s Diamond Awards represent the pinnacle of excellence in credit union marketing and business development. The credit unions’ award-winning pieces were evaluated on strategy, design, publication, creative concept, copy and communication, and results.
Small business letters needed to help lift the MBL cap
As Congress continues to debate legislation that would raise credit unions' member business lending (MBL) cap, they need to hear the stories of how credit unions have served small businesses during the recession. You can help provide elected officials with this anecdotal information by urging the local businesses you serve to tell Congress about the importance of lifting the MBL cap.
The Network is asking small businesses to send letters urging Minnesota’s Congressional Delegation to co-sponsor the MBL bill. The letters should be from local businesses that have worked with your credit union and tell the story of how your credit union helped it obtain working capital. Within the message, the owner should also outline why the passage of the MBL legislation is important to local businesses.
Letters can be sent to the local and Washington, D.C., offices of your Congressional representative. Addresses for all eight representatives are available in the Congressional Delegation Contact Information document. Copies of the letter should also be e-mailed to Mara Humphrey, MnCUN Vice President-Governmental Affairs.
In addition to the letters, the Network is looking for small business lending stories that it can share with media outlets around the state. If you know of a small business owner that would be willing to share his or her story with the media, e-mail their contact information and a synopsis of their story to Rachel Kuenzel, MnCUN Director of Communications.
NYIB offers scholarships for its annual credit union youth conference
The National Youth Involvement Board (NYIB) is offering scholarships for its annual credit union conference focused on reaching and teaching today’s youth. Don’t let the economy get in the way of the information you need to provide better financial education for your members and communities.
To be held July 26-29 in St. Louis, Mo., this conference will provide a platform for sharing youth marketing materials and will feature educational sessions on a variety of youth financial literacy topics. Receive resources to teach young people money management skills and discover tools for making youth a priority at your credit union.
A variety of scholarships are available for conference attendees, which will help cover the cost of this week of education. The deadline for submitting applications is Friday, April 16.
Information about the conference and scholarship opportunities is available on the NYIB web site.
Twins and Gopher schedules available to credit unions
Help your members gear up for spring by providing 2010 Twins and Gophers baseball schedules. Available through the Network, these schedules can be customized with your credit union’s information and can be ordered in any quantity.
To order your baseball schedules, complete the Twins/Gophers Schedule order form and return it to Scott Shoberg at the Network office:
Minnesota Credit Union Network
Twins/Gophers Schedule Order
555 Wabasha Street, Suite #200
St. Paul, MN 55102
With questions, contact Scott Shoberg by e-mail or phone at (651) 288-5525.
MnCUN Calendar of Events
The Minnesota Credit Union Network offers a wide variety of educational opportunities for credit union professionals and volunteers. Check out MnCUN's Annual Meeting event, along with the roundtables, telecourses and webcasts available to you. Visit the online Event Calendar today.
- March 30 (9 am): Family Involvement Council Meeting
- March 30 (10 am): TeleCourse - Minor Accounts
- March 30 (5 pm): Archer Doig & River Cities Meeting
- March 30 (5:30 pm): Arrowhead Chapter Meeting
- March 31 (2 pm): WebCast - Personal Tax Returns
- April 1 (12 pm): CUNA Mutual WebCast - Reg Z Compliance
- April 6 (8:30 a.m.): MnCUN Bankruptcy Conference
- April 6 (10 am): TeleCourse - Credit & Background Checks
- April 7 (10 am): TeleCourse - Financial Counseling
- April 7 (2 pm): WebCast - Signature Cards & Account Agreements
- April 8 (10 am): Minnesota Credit Union Foundation Board Meeting
- April 8 (5:30 pm): Central Minnesota Chapter Meeting
- April 13 (4 pm): Preparing our Children for their Financial Responsibilities
- April 14 (10 am): TeleCourse - Plastic Card Fraud
- April 14 (2 pm): WebCast - Small Business Lending
- April 15 (1 pm): MnCUN Political Involvement Committee Meeting
- April 15 (2 pm): Webcast - Stress Testing Your Loan Portfolio