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11/5/2014
CUNA Mutual: Recapture Loans and Target New Opportunities

Output (12-03-10)


Output (12-03-10)

 
December 3, 2010 Volume 33, Issue 23                                                                           Archived Issues   


Sign up today for Credit Union Day at the Capitol  

Registration is now open for MnCUN’s Credit Union Day at the Capitol. Set for Feb. 3 at the Saint Paul RiverCentre, this event brings professionals and volunteers together to share the credit union message at the State Capitol. With the change in the political make-up of the Minnesota Legislature, this year it will be more important than ever to build and maintain relationships with elected officials.
 
This year’s CU Day theme of "Minnesota Credit Unions: Local & Trusted” will remind legislators of the important role that credit unions play in communities throughout the state. Attendees will receive pertinent legislative updates and first-hand knowledge from legislators about the 2011 Legislative Session. The event will culminate with participants visiting the State Capitol to meet with their representatives and senators to discuss issues important to their credit unions. Attendees will conclude the day with a late afternoon reception that will provide them the opportunity to network with other credit union professionals and volunteers from around the state.
 
Register today to be part of this event that brings the credit union voice to the State Capitol. Those that register for CU Day by Tuesday, Jan. 11, will receive a $20 early bird discount. All other registrations must be received by Thursday, Jan. 20. For more information and to register, visit the Credit Union Day at the Capitol page of the Network web site. 
 


Corporate credit union forum archive available

Credit union professionals and volunteers who missed MnCUN’s Nov. 30 Corporate Credit Union Forum & Webcast can now download the archived webcast from the Network web site. This session featured insight from six credit union panelists who are pursuing various corporate options.
 
During the forum, participants discussed the pros and cons of the corporate options available to credit unions. The panelists included the following individuals whose credit unions are conducting business with the Federal Reserve or one of three different corporate credit unions:
 

  • Rick Borchardt, CFO – Lake State FCU
  • Dan Cumbee, CEO – Dakotaland FCU
  • Pam Finch, CFO – Mid-Minnesota FCU
  • Lynn Kothe, CEO – North Memorial FCU    
  • Pat Pierce, CEO – City & County CU 
  • David Sawin, CEO – St John’s CU   

Corporate: Federal Reserve
Corporate: Members United
Corporate: Federal Reserve/Members United
Corporate: Members United
Corporate: Mid-Atlantic
Corporate: Corporate Central

 
To download the webcast, visit the Corporate Credit Union Forum page of the Network web site.  
 


Volunteers' Conference offers valuable tools and insight

Minnesota credit union volunteers are invited to join 14 other states for the Western States Volunteers’ Conference on Jan. 30-Feb. 1 in Las Vegas. This conference will provide attendees tools and information to help them make their credit unions’ hopes and dreams for the future a reality.
 
Geared toward board members, supervisory committee members, credit committee members, and all interested volunteers, this educational event will provide vital updates on leadership, the economy, risk management and market trends. Receive insight and knowledge to help you develop a strategic direction for your credit union. New this year, the conference will be offering opportunities for volunteers to earn CUNA Volunteer Certification Program credits. Attend the conference and earn credit toward your certification.
 
This conference will also provide opportunities to network and exchange ideas with volunteers from credit unions around the country. Volunteers will be able to attend the conference’s An Evening with Penn & Teller event on Sunday, Jan. 30. See the magic show and enjoy a meet and greet with Penn and Teller.
 
Attend this volunteer-focused conference and gain knowledge on how to make a difference in the credit union movement. Registrations submitted by Friday, Dec. 31, will receive a $50 early bird discount. For detailed conference information and online registration, visit the Western States Volunteers’ Conference page of the Network web site.
 


MnCUN to introduce quarterly education brochures in 2011

The Network will debut its new quarterly education brochures this month. Replacing the monthly educational brochures, the new format provides credit union professionals and volunteers a quick and easy way to find educational sessions that pertain to their position at the credit union.
 
The new brochure categorizes MnCUN’s conferences, seminars, interactive forums, roundtables, telecourses and webinars by topic. Tables within the publication highlight the educational opportunities available for the different areas of expertise at the credit union. In this way, individuals will be able to quickly find general information about sessions focused on compliance/lending, training, management, marketing and business development, operations and frontline, technology and volunteers. Detailed information about each educational opportunity, along with online registration, will be available in the Event Calendar section of the Network web site six to eight weeks prior to each event.
 
Credit unions will receive the new quarterly education brochure in mid-December. Check it out and discover the variety of educational sessions available through the Minnesota Credit Union Network.
 


2010 MnCU4Kids donations due Dec. 17

The 2010 fundraising year for Minnesota Credit Unions for Kids (MnCU4Kids) is quickly coming to an end. All funds raised throughout the year must be received by the Minnesota Credit Union Foundation by Friday, Dec. 17. These funds will then be forwarded to Gillette to meet the year-end deadline.
 
 
Send in your credit union’s funds today to help MnCU4Kids reach its goal of $150,000. When sending in donations, be sure to include the MnCU4Kids Reporting Form. Please forward all funds to:
 
 
Minnesota Credit Union Foundation
Attn: Minnesota Credit Unions for Kids
555 Wabasha Street North, Suite #200
St. Paul, MN 55102
 
 
Checks should be made payable to the "Minnesota Credit Union Foundation” with "MnCU4Kids” written in the memo line.
 
 
With questions about MnCU4Kids, contact committee co-chairs Katie Grindeland of Star Choice Credit Union at (952) 698-7230 or Jeff Schwalen of Hiway Federal Credit Union at (651) 291-1515.


2011 permission agreements due

Has your credit union signed its permission agreement for 2011 yet? Signing a permission agreement with the Network permits your credit union’s executive and administrative employees, volunteers, members and their families to participate in all events and activities coordinated by MnCUN to support the Credit Union Legislative Action Council (CULAC). CULAC-sponsored events raise money to support credit union-friendly candidates running for federal office.
 
Permission agreements allow the Network to send information about CULAC activities to you, your board members, and your executive and administrative employees. Signing an agreement does not obligate you or anyone else to make a contribution to CULAC or to participate in the activities. It merely authorizes the Network to contact those at your credit union for CULAC donations. Legally your credit union may only sign a permission agreement for one trade association per calendar year; however, you may sign an agreement for multiple years.
 
Credit unions with expired permission agreements received the form in the mail in mid-November. Please take a moment to send the signed form back to the Network office. With questions or concerns about the permission agreement, please contact MnCUN Political Advocacy Director Monica Weber by e-mail or at (651) 288-5533. Blank forms can be downloaded from the Permission Agreements section of the Network web site.
 


V.I.P. participants offer credit union-focused products and services

Are you searching for vendors who provide quality products and services and appreciate the characteristics that make credit unions unique? If so, check out the companies featured in the Vendor Involvement Program (VIP) section of the Network web site. 
 
The VIP page provides information about MnCUN’s 26 V.I.P. participants. While not endorsed by the Network, these vendors agree to offer professional service, quality product lines and competitive pricing to Minnesota credit unions. This reference page provides information about each participant’s products and services, along with web links and contact information.
 
With a variety of vendors ranging in expertise from technology to mortgages, the V.I.P. page serves as a valuable resource for vendor information. To learn more about the program’s 2010 participants and offerings, visit the Vendor Involvement Program section of the Network web site.
 


Credit union notes…

  • Martin Waligora, Chief Financial Officer of Anoka Hennepin Credit Union, was named a finalist of Minneapolis/St. Paul Business Journal’s 2010 CFO of the Year competition in the small private company category. These awards, which recognize excellence among top financial executives in the Twin Cities, cover eight categories representing non-profit, private and public companies. Waligora was honored for the innovative ideas he has brought to Anoka Hennepin Credit Union, including the development of a financial reporting accounting system. 
     
  • Pat DeHaan, United Educators Credit Union Executive Vice President, passed away last week. DeHaan worked for United Educators Credit Union for 13 years, providing leadership to the Board of Directors, Supervisory Committee, and credit union staff and members. In addition, she served on the boards of the Minnesota Item Processing Corporation (MnIPC) and the River Cities Chapter of Credit Unions. DeHaan has been honored with the Minnesota Credit Union Foundation's Credit Union Builder Award for her contributions to the movement.


Join CUNA Mutual Group in responding to the Reg Z proposal

CUNA Mutual Group, in partnership with CUNA, is hosting a Regulation Z audio conference on Dec. 8 from 1 p.m.-2 p.m. to rally the credit union movement together to respond to the Federal Reserve Board's recent proposal. The recently-proposed disclosures under Regulation Z and the Truth-in-Lending Act would negatively impact the way in which payment protection is offered to credit unions.
 
The proposal would impose new consumer disclosures for credit life insurance, credit disability insurance, and debt cancellation/debt suspension (including guaranteed asset protection) products. Unfortunately, these disclosures go well beyond ensuring that consumers are informed about these products. Instead they cast them in a strictly negative light and strongly discourage the purchase of these products.

During CUNA Mutual Group
's audio confernece, credit union professionals and volunteers will learn in-depth details about the proposal and how they can fight to change the disclosures. Discover a variety of communication vehicles available to solicit the Federal Reserve Board to encourage them to change the disclosures.
 
Join CUNA Mutual Group in its fight to ensure that consumers are offered payment protection plans in an unbiased and accurate way. To register for the audio conference, visit the Event Calendar section of the Network web site. With questions about CUNA Mutual Group and its products and services, contact MnCUN Director of Business Development Vickie Ganrude by e-mail or at (651) 288-5515.
 


CUDL introduces new iphone app

CUDL, an indirect auto lending company for credit unions, has introduced the new AutoSMART App for the Apple iPhone. The new iPhone app, designed specifically for credit union members, replicates features of CUDL's AutoSMART web site.
 
The AutoSMART app connects credit union members looking to purchase and finance a vehicle with their credit union and the more than 5,700 dealers posting inventory to CUDL's AutoSMART website. Members can use the new mobile tool to shop the more than 600,000 vehicles listed nationwide on the AutoSMART web site. Free to iPhone owners through the Apple App Store, the new app gives members and consumers the ability to perform selected steps of the vehicle buying process, from initial vehicle shopping and research to accessing their pre-approved credit union loan, and connecting with an auto dealership in their area.
 
For more information about CUDL’s AutoSMART program, visit the CUDL page of the Network web site. With questions about the program, contact Vickie Granrude, MnCUN Director of Business Development, by e-mail or at (651) 288-5515. 
 


Protect members’ private information with Shred-N-Go

What steps is your credit union taking to secure members’ private information? With Shred-N-Go, you can ensure that members’ information stays safe once it leaves the building.
 
The Fair & Accurate Credit Transactions Act (FACTA) Disposal Rule requires businesses that maintain or otherwise possess consumer information derived from consumer reports to "properly dispose” of the information. With Shred-N-Go, your credit union’s sensitive information and members’ records will be properly discarded. Through their on-site shredding, confidential information is safely and securely disposed before it even leaves your site.
 
For more information, visit the Shred-N-Go page of the Network web site. With questions, contact MnCUN Director of Business Development Vickie Ganrude by e-mail or at (651) 288-5515.

 

Calendar of Events

 The Minnesota Credit Union Network offers a wide variety of educational opportunities for credit union professionals and volunteers. Check out the roundtables, telecourses, and webcasts available. Professionals and volunteers are also invited to get involved in grassroots advocacy by attending MnCUN's Credit Union Day at the Capitol. To register for this and other events, visit the online Event Calendar.
  • Dec. 7 (10 a.m.): TeleCourse - Tips for Terrific Talking
  • Dec. 7 (2 p.m.): CUNA Mutual WebCast - Auto Loan Recapture
  • Dec. 8 (1 p.m.): CUNA Mutual TeleCourse - Regulation Z
  • Dec. 9 (10 a.m.): Minnesota Credit Uniconferenceon Foundation Board Meeting
  • Dec. 9 (1 p.m.): MnCUN Political Involvement Committee Meeting
  • Dec. 9 (2 p.m.): WebCast - Legal Aspects of Employment Law
  • Dec. 9 (2 p.m.): WebCast: SAFE Act
  • Dec. 10 (8:30 a.m.): MnCUN Board Meeting
  • Dec. 14 (2 p.m.): WebCast - Retention of Electronic Records
  • Dec. 15 (10 a.m.): CUNA Mutual WebCast - Retirement Services
  • Dec. 15 (2 p.m.): WebCast - Essential BSA Issues
  • Dec. 21 (10 a.m.): TeleCourse - Spurring Change at the Credit Union