May 7, 2010 ● Volume 33, Issue 9 Archived Issues
MnCUN to launch media blitz focused on consumer research findings
This month the Network will be leading a statewide media effort to unveil the results of its March 2010 consumer awareness survey. Developed with the goal of determining consumers’ knowledge and perception of Minnesota credit unions, the survey findings show that public opinion of credit unions is very positive.
One of the immediate ways to take advantage of these results and to encourage consumers to consider credit unions is to use the data to engage local media, which can be an effective communications channel to reach potential members. Minnesota credit unions can join MnCUN in this effort to cultivate media coverage across the state while positioning yourselves as local experts.
In order to coordinate the dissemination of this message to the media, MnCUN will be holding a Consumer Research Media Roll-out webcast at 1 p.m. on Thursday, May 13. During the webcast, credit unions will receive a summary of the survey’s key findings and guidance on how to engage the media with this story. The Network will provide an overview of its media relations strategy, step-by-step instructions for pitching this story, key messages, a sample press release, and answers to anticipated questions. Attendees will also receive basic resources to help beginners identify local papers and make contracts with reporters in their area.
While the webcast is free, attendees must pre-register to receive log-in instructions. Visit the Event Calendar section of the Network web site to register. Complete information about the survey initiative can be found on the Consumer Awareness Survey page of the Network web site.
With questions, contact MnCUN Vice President-Communications Kristina Wright or MnCUN Director of Communications Rachel Kuenzel.
CUNA names Bill Cheney as new CEO
On Wednesday, CUNA announced that William "Bill” Cheney will succeed Dan Mica as the organization’s President & CEO. Cheney, who has served as the President and CEO of the California/Nevada Credit Union Leagues since 2006, will take the reins of CUNA on July 5.
According to CUNA’s executive search committee, Cheney’s background in credit unions was a key factor in the group’s recommendation of his hiring. He brings to this position a number of strong relationships with members of Congress, more than 20 years of credit union experience, and the ability to serve as an effective leader.
Cheney will replace Dan Mica who has served as CUNA President & CEO for 12 years. During his tenure, Mica has led the movement in a variety of legislative initiatives and increased CUNA’s political presence in Washington, D.C. Mica will work with Cheney until his official start date in early July and will remain available for counsel through the remainder of the year.
MnCUN Annual Meeting features CUNA speaker, elects directors
The Network held its Annual Meeting & Convention on April 23-24 at the Northland Inn in Brooklyn Park. More than 400 credit union professionals, volunteers and supporters were in attendance, representing 75 credit unions. Additionally, the meeting welcomed more than 100 individuals from 38 service organizations.
One of the meeting’s featured guest speakers was Ryan Donovan, CUNA Vice President of Legislative Affairs, who spoke on the movement’s grassroots advocacy efforts. Recognizing Minnesota’s high level of political involvement, Donovan commended the state’s credit unions for their fundraising efforts and work to secure Congressional supporters for member business lending (MBL) legislation.
"It is widely recognized that Minnesota, and the work you do with your delegation, has the ability to help us [with the MBL issue],” Donovan said. "The grassroots support we receive from credit unions – especially those in Minnesota – is important. We can’t do what we do in Washington without your help.”
Donovan provided Minnesota credit unions with an overview of the current political landscape, outlined the various credit union successes of 2009, and then discussed the outlook for 2010. He encouraged credit unions to remain "engaged political advocates” by visiting their representatives both in Minnesota and Washington, D.C., and by continually demonstrating that they are good corporate citizens.
Also at MnCUN’s annual business meeting, one incumbent and three new representatives were elected to three-year terms on the MnCUN Board of Directors:
- Jeff Schwalen of Hiway Federal Credit Union in St. Paul was reelected to a metro area seat.
- Kelly McDonough of First Alliance Credit Union in Rochester was elected to a non-metro area seat.
- Kim Boysen of Mower County Catholic Parishes Credit Union in Austin was elected to a seat for credit unions with 2,000 members or fewer.
- David Sawin of St. John’s Credit Union in St. Paul was elected to a seat for credit unions with 2,001-10,000 members.
The MnCUN Board also named new table officers for 2010:
- Chairman Kyle Markland of Affinity Plus Federal Credit Union in St. Paul;
- Vice Chairman Patrick Pierce of City & County Credit Union in St. Paul; and
- Secretary/Treasurer Chuck Albrecht of Mid-Minnesota Federal Credit Union in Brainerd.
In addition to the Board elections and the MnCUN Business Meeting, the conference was filled with many other activities. Nearly 20 educational workshops were held throughout the two days, as well as a tradeshow, receptions and fundraisers.
MnCUN membership votes in favor of bylaw amendment
Credit union members of the Minnesota Credit Union Network voted in favor of a bylaw amendment to establish a second tier of associate membership for credit unions headquartered outside of the state of Minnesota. This second tier of associate membership will allow out-of-state credit unions with a presence in Minnesota to participate in the governance of the Network, and their dues will be calculated and assessed according to assets and membership in Minnesota.
Going forward, second-tier associate member credit unions will have governance opportunities, including voting rights and the ability to serve on chapter and Network boards and committees.
The amendment passed on a 105-8 vote.
2010 national credit union awards competition quickly approaches
Let the brainstorming begin! Credit unions should begin assembling materials for the 2010 Dora Maxwell Social Responsibility Award, Louise Herring Award for Philosophy in Action, and Desjardins Youth Financial Education Award. Entry forms and program information will be posted on the Network web site next week.
The Dora Maxwell Award honors credit unions for external charitable works and the Louis Herring Award praises credit unions that make efforts to internally include the credit union philosophy into their daily operations. The Desjardins Award recognizes credit unions and chapters that are leaders in youth financial education.
Help strengthen the credit union movement by sharing the unique programs and activities that your credit union has developed. Submissions can be made for one or all of these awards programs. The deadline for award submissions is Friday, July 16. With questions, contact MnCUN Director of Communications Rachel Kuenzel.
Association of CU Internal Auditors to host national conference in Minneapolis
Minnesota credit unions are invited to join the Association of Credit Union Internal Auditors for its 20th Annual Conference and one-day seminar. To be held June 15-18 at the Hyatt Regency in Minneapolis, the event provides credit unions with the option of attending a one-day educational seminar, a three-day conference, or the entire four-day event.
The one-day seminar will offer two different educational options. Participants can either attend an advanced session on IT audit and control or a basic session on auditing and accounting. The three-day conference will focus on a variety of topics pertinent to credit unions, including legal challenges, financial statements, credit risk management, ethics and law, merger due diligence, internal audit report writing and more.The conference will also feature Rory Rowland presenting "Listen So Others Will Speak, Speak So Others Will Listen."
Attend this conference for an in-depth look at ways to improve the credit union's internal audit policies and procedures. With more than 20 sessions to choose from and the opportunities to earn 38.50 CPE credits, this conference is not to be missed. For more information and to register, visit the Event Calendar section of the Network web site.
WOCCU offers Spanish Immersion Program
Is your credit union looking for ways to attract Hispanic members? The World Council of Credit Unions is offering a Spanish Immersion Program in San José, Costa Rica, that will provide the necessary skills and insight to better serve Hispanic members.
The program offers employees the option of participating in a one- or two-week exchange in October 2010. Participants will spend part of each day learning or improving their Spanish skills in a language class. The other half of the day will involve interning at a local credit union and learning about Costa Rica's progressive, member-focused operations.
Registrations received by June 30 will receive an early bird discount. All registrations must be made by Aug. 31. For more information and to register, visit the World Council of Credit Unions web site.
Arrowhead golf tournament set for May 19
The Arrowhead Chapter of Credit Unions will host its 39th Annual Chapter Golf Outing on Wednesday, May 19. The event will take place at Grandview Golf Course in Duluth. Golf will begin at noon, followed by a social hour and dinner at 5:30 p.m. All tournament registrations must be received by Friday, May 14. For more information visit the Event Calendar section of the Network web site.
Credit union notes…
- On Monday, Heartland Credit Union named Kathleen Harrington as its new President & CEO. Harrington has served as the credit union’s interim president since July 2009 and joined Heartland as a Chief Financial Officer in 2007. For the past 20 years, she has worked in financial and operational positions at a several credit unions throughout the state.
- Edward M. Benysek former employee of the Minnesota League of Credit Unions passed away on May 2. Benysek was active in the Minnesota movement and was instrumental in forming many credit unions throughout the state.
Products & Services Corner
CUNA Mutual Discovery Webcast to address electronic fraud
As technology improves, the problem of electronic fraud continues to rise. On May 11 from 12:15 p.m.-1:15 p.m., CUNA Mutual will host a free webcast focused on educating credit unions on the most current electronic fraud scams impacting them and their members.
"Electronic Fraud in the New Decade" will feature CUNA Mutual Risk Manager Ann Davidson. She will discuss the scams of 2010 and steps credit unions can take to protect themselves and their members. Participants will also learn about fraud detection tools.
For more webcast information and online registration, visit the Event Calendar section of the Network web site.
FIS offers credit unions comprehensive card solutions
Is your credit union seeking practical, profitable and visionary credit card programs? If so, then turn to Fidelity National Information Services (FIS). FIS offers the most comprehensive collection of processing solutions available in the market today. Whatever your needs – from simple transaction switching to complete turnkey processing and services – the range and quality of their proven solutions cannot be matched.
FIS’s comprehensive processing solutions support platinum, gold, classic, commercial, small business and private-label card programs, as well as installment loan products. In addition, their card issuing, merchant processing, risk management, plastics and marketing services will take your credit programs from set-up to market retention in a matter of a few months.
FIS also offers fully-integrated transaction processing solutions, providing a single point of authorization, reporting and access for all services, including Visa and MasterCard authorizations, transaction posting and settlement. Whether it’s through full-service transaction processing; flexible, self-administered solutions; or internal pass-through processing, FIS’s comprehensive services allow you to focus on your members rather than on your card operations.
For more information about FIS’ products, contact Vickie Ganrude, MnCUN Director of Business Development, by e-mail or at (651) 288-5515 or (800) 477-1034.
CU Succeed helps credit unions strengthen their future outlook
According to CUNA, the average age of a credit union member is 47. However, the future of credit unions lies in the hands of those under the age of the 30. Now more than ever, credit unions have the opportunity and responsibility to recruit younger members.
CU Succeed offers credit unions tools and resources to effectively build relationships with young people. Through the Teens Financial Network and Kirby Kangaroo Club, credit unions can take advantage of marketing tools that attract kids and teens and educate them on the financial benefits and advantages the credit union offers. CU Succeed also provides materials for teaching young members about the importance of fiscal responsibility and conscientious spending and saving.
Help secure your credit union’s future success by checking out CU Succeed’s award winning programs. For more information, contact Vickie Ganrude, MnCUN Director of Business Development, by e-mail or at (651) 288-5515 or (800) 477-1034.
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 Financial Management School, along with the roundtables, telecourses and webcasts available to you. Visit the online Event Calendar today.
- May 10 (11:30 a.m.): Trainers Roundtable
- May 11 (9 a.m.): Small Business Administration Conf. – American Recovery & Reinvestment Act
- May 11 (10 a.m.): TeleCourse - Supervising a Diverse Workforce
- May 11 (12:15 p.m.): CUNA Mutual Group Discovery WebCast - Electronic Fraud in the New Decade
- May 11 (2 p.m.): WebCast - Earning Revenue Under the New Overdraft Regulations
- May 12 (9 a.m.): Small Business Administration Conf. – American Recovery & Reinvestment Act
- May 12 (10:30 a.m.): Technology Seminar: Virtualization
- May 12 (11 a.m.): Minnesota Credit Unions for Kids Committee Meeting
- May 12 (2 p.m.): WebCast - Strengthening Loan Review Programs
- May 13 (8 a.m.): NCUA Small Credit Union Workshop & Roundtable
- May 13 (9 a.m.): Small Business Administration Conf. – American Recovery & Reinvestment Act
- May 13 (10 a.m.): TeleCourse - Teller Essentials
- May 13 (10:30 a.m.): Commercial Lending Seminar: Business Lending
- May 13 (10:30 a.m.): Collectors Roundtable
- May 13 (2 p.m.): Webcast - Performing Required ACH Risk Assessment
- May 13 (5:30 p.m.): Central Minnesota Chapter Meeting
- May 13 (5:30 p.m.): Hiawatha Chapter Meeting
- May 18 (5 p.m.): Archer Doig & River Cities Chapter Meeting
- May 19 (10 a.m.): CUNA Mutual Group WebCast - Dealing with Social Networking Risks
- May 19 (10 a.m.): TeleCourse - Bank Secrecy Act
- May 19 (12 p.m.): Arrowhead Chapter Golf Outing
- May 19 (2 p.m.): WebCast - Handling Return Items
- May 20 (2 p.m.): WebCast - Reg CC
- May 24 (8:30 a.m.): Financial Management School - Parts 1 and 2
- May 26 (2 p.m.): WebCast - Repossession & Sale of Collateral
- May 27 (10 a.m.): TeleCourse - Alternatives to Predatory Car Loans