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10/22/2014
CUNA Mutual Webinar – Mobile Banking Risks Knocking at Your Door

The Pulse (07-09-14)









 

 

The Pulse (07-09-14)

July 9, 2014 ● Volume 03, Issue 26

 

The Pulse Archive

Credit Union News

MnCUN “firing on all cylinders” through mid-year 2014 – accomplishments & activities highlighted

Last week, the calendar changed to July, ushering in the second half of 2014 – thus far an eventful year for the Minnesota Credit Union Network. As the association that works to ensure the success, growth and vitality of our member credit unions, we are keenly focused on creating the environment that allows you to grow, and providing support to you as you serve Minnesota consumers.

The Network recently posted an activities update to its website – visit the MnCUN Membership page for an overview of 2014 strategic initiatives.

“As is evidenced by our list of activities and accomplishments at the end of each year, we are truly firing on all cylinders and continue to operate with an aggressive strategic plan,” said MnCUN President & CEO Mark D. Cummins. “Our staff accomplishes a high volume of quality work on behalf of the credit unions of Minnesota.”

The website highlights accomplishments in several areas, including:

  • legislative advocacy;
  • grassroots advocacy;
  • public affairs & public relations;
  • communications;
  • regulatory advocacy & compliance;
  • education & networking; and
  • products & services.

Credit unions are encouraged to participate in MnCUN initiatives to maximize their membership. For additional information and to hear what credit unions are saying about the Network, see the member testimonials posted online. With questions or comments, contact MnCUN Vice President – Association Services Kristina Wright by email or at (651) 288-5507. 

 

It is time to register for the MnCUN Fall Leadership Conference

The Minnesota Credit Union Network's Fall Leadership Conference is scheduled for Sept. 5-7, 2014, at Madden's Resort in Brainerd. Filled with educational sessions, networking, entertainment, and recreation opportunities, this event provides a weekend of learning and fun. Sessions throughout the weekend are designed for both credit union professionals and volunteers, including:

  • how to link strategy, interest rate risk and financial performance
  • innovations in lending
  • an economic outlook
  • the future of payments
  • developing tomorrow's credit union leaders

Held at Madden's Resort in Brainerd, Fall Leadership Conference also offers attendees many amenities that provide relaxation and recreation. Madden's offers first-rate dining, and unrivaled leisure activities – including top-notch golf courses. It's business casual throughout the weekend for conference participants, including at the Saturday evening banquet.

With valuable networking opportunities, informational workshops and entertainment, this conference has something for everyone.

Lodging arrangements must be made directly with Madden's. The lodging reservation deadline has passed, however, rooms may still be available at the regular rate. More information on lodging is available on the Fall Conference Lodging page of the Network website.

To attend the Fall Leadership Conference, credit union professionals and volunteers must complete MnCUN's online registration, and then reserve lodging through Madden's.

With questions, contact MnCUN Director of Education Sue Groskreutz at (651) 288-5521.

 

MnCUN to host forum on elder financial abuse

Many credit union staff have heard, and many times have witnessed, how vulnerable adults are taken advantage of financially by family members, fiduciaries, and con artists. In response to this pervasive issue, the Minnesota Credit Union Network (MnCUN) is hosting a free Elder Financial Abuse forum on Thursday, July 24, from 10 a.m. to 12:30 p.m. for member credit unions. This session will include a panel of stakeholders in Minnesota who are battling this epidemic to discuss how to identify and report to the appropriate agencies suspicion of elder financial abuse, and will provide additional resource information on this topic. The panel will include representatives from the AARP, the Department of Commerce, the Department of Human Services – Adult Protection Unit, and the newly created Vulnerable Adult Justice Project out of William Mitchell College of Law.

Credit unions can participate in person at Hiway Federal Credit Union in St. Paul or via webinar. Those attending in person are also invited to have lunch and participate in a peer-networking roundtable session on this and other hot topics. 

In addition to the above, the following are some additional resources available to credit unions regarding this issue:

  • The Minnesota Department of Commerce recently released a call to action to raise awareness about senior financial abuse. The press release can be found on the Department’s website.
  • The Minnesota Department of Human Services, on its Adult Protective Services Unit webpage, provides a variety of resources regarding identifying and reporting suspected maltreatment of vulnerable adults.
  • The Minnesota Attorney General’s office has a senior's resource page, including information on fighting fraud, scams targeting grandparents, unsuitable investments, foreign lotteries, and protecting personal information. 
  • The Consumer Financial Protection Bureau recently released a guide focusing on residents of long-term care facilities, to equip staff as well as family and friends with information on how to prevent, identify, and report financial exploitation in the nursing home or assisted care facility setting. The press release, as well as the guide, can be found on the CFPB’s website.  

For additional information and online registration, visit the event calendarFor additional information or with specific questions about this event, please contact Sue Groskreutz by email or at (651) 288-5521.



Last chance to register for this weekend's Financial Literacy 5K 

Credit unions and service providers – now it your last chance to register for the inaugural Financial Literacy 5K, a walk/run and kids run set for this Saturday, July 12, at Lake Normandale in Bloomington. Organizations can vie for the “team trophy” at this event by including information the registration form. Any credit union, school or organization that registers five or more Financial Literacy 5K participants will automatically be “in the running” for the team award. Participants’ times will be aggregated and averaged to determine the best team time.

The Financial Literacy 5K is being hosted by the Minnesota Credit Union Foundation. With a strong commitment to financial education, the Foundation is an organization dedicated to providing the resources for credit unions and communities to prosper and thrive. In 2013, the Foundation launched its Financial Education Grant Program and an ongoing budgetary commitment to financial education. The Foundation dedicates 50 percent of its annual budget to Financial Education Grants that positively impact credit union members and communities.

The 2014 Financial Literacy 5K is powered by soleMOTION Race Management and is sponsored by TC Running Company, Banzai financial education, and TruStage insurance and investments, a division of CUNA Mutual Group. Registration is open to:

  • Credit union staff, volunteers & supporters
  • Educators, school staff & administrators
  • Non-profits, agencies & financial literacy enthusiasts
  • Legislators, government officials & others holding elected office
  • Members of the running community
  • Walkers
  • Fitness enthusiasts
  • ...and anyone who shares a passion for financial education!

For additional details about the Financial Literacy 5K, visit the MnCUF website.

 

Recognize your CU's unique efforts with Dora, Louise, Desjardins awards

Credit unions work hard every day to offer unique projects, products and services that benefit their members and their communities. To honor these efforts, the Minnesota Credit Union Network wants you to submit your entries for this year's Dora Maxwell, Louise Herring and Desjardins awards programs. Recognize the ways your credit unions are improving lives and communities.

Below is a brief overview of each awards program:

  • Dora Maxwell Social Responsibility Community Service Award recognizes credit unions that improve the lives of community members through external projects and activities.
     
  • Louise Herring Award for Philosophy-in-Action Member Service Award recognizes credit unions that exhibit the credit union philosophy and improve members' lives through internal programs. 
     
  • Desjardins Youth Financial Education Award recognizes credit unions that teach personal finance concepts and skills to credit union members and nonmembers under age 18
     
  • Desjardins Adult Financial Education Award recognizes credit unions that teach personal finance concepts and skills to credit union members and nonmembers age 18 and older.

To submit an entry, visit the National Awards Programs page of the Network website, where you will find entry forms, information on eligible activities, checklists and more.

Statewide entries must be submitted to the Network office by Friday, July 25. Credit unions are encouraged to enter in one or all of the national awards programs. Winning submissions will advance to the national competition for judging this fall. With questions, contact MnCUN Director of Communications Connie Kuhn by email or call (651)288-5527.

 

Need compliance or audit help? The Network has your solution!

Is your credit union seeking assistance with compliance? Do you need an audit completed? Or perhaps you’re not quite sure what kind of help your credit union needs? The Network can help!

MnCUN’s Compliance & Audit Consultant Marcia Armstrong Lewis is a CUNA-certified BSA Compliance Specialist, a certified compliance officer and a Certified Financial Services Auditor. She is able to assist credit unions with any number of compliance and/or audit services, such as:

  • Bank Secrecy Act
  • Safe Act
  • Lending
  • Training, and
  • Website reviews.

For a complete list of services and to watch a short overview video of MnCUN’s compliance & audit consulting, visit the Compliance Services page of the Network website. With specific questions or to schedule an appointment, contact Marcia Lewis by email or at (651) 288-5509.

 

Credit Unions in the News

Follow the links on the stories below to read more about the outstanding programs, new initiatives and well-deserved recognition received by your peers recently. Got news of your own? Send stories, pitches, press releases and published articles to MnCUN Director of Communications Connie Kuhn.  

Hiway FCU named Outstanding 2014 Financial Advocate by Better Business Bureau

Minnesota Valley FCU named #2 best bank by Mankato Magazine

 



MnCUN provides legislative profile resource

MnCUN surveying 2014 Minn legislative candidates to determine credit union support




National Flood Insurance Program Suspensions includes Minnesota counties

NCUA Issues Letters to Credit Unions 

Letter No. 14-CU-08: Home Equity Lines of Credit End-of-Draw Periods

 

Out for Comment 

FHA releases two new lender guidance handbook sections, requests feedback