May 20, 2011 ● Volume 34, Issue 10 Archived Issues
MnCUN continues interchange push
With just over two months left before the interchange rule is set to take effect, the Network and CUNA continue to push for delayed implementation of the debit interchange regulation. Now more than ever, it is imperative that Minnesota credit union professionals and volunteers contact Congress and encourage them to stop, study and start over on the interchange rule.
Earlier this week, the Network reissued the Call on Congressurging all credit union professionals and volunteers to respond – even if they have done so already. In addition, in an effort to substantially expand the grassroots efforts, credit unions are being called to engage their members in this fight. Resources for involving members – including sample messages, letters, web graphics and teller cards – can be found on the Interchange Resourcespage of the Network website.
It is vital that credit unions give 150 percent to this important advocacy campaign to fight a provision that will directly impact credit unions’ income. For additional information about this advocacy effort, visit the Interchange Resources page of the Network website.
Submit your entries for the 2011 credit union national award programs
Entry forms are now available for the Dora Maxwell, Louise Herring, and Desjardinsaward programs. Sponsored by the Minnesota Credit Union Network and CUNA, these national contribution programs provide credit unions the opportunity to be recognized for the difference they make through unique programs, services and activities.
This year CUNA made a few modifications to the award programs. First, the names of the Dora Maxwell and Louise Herring Awards have been slightly modified to clarify the difference between the two awards. In addition, a new Desjardins Adult Financial Education Award has been added to complement the well-established Desjardins Youth Financial Education Award.
- The Dora Maxwell Social Responsibility Community Service Award honors credit unions for their involvement in activities that help strengthen the community. The focus of this award is on external credit union projects and activities that benefit the community.
- The Louise Herring Award for Philosophy in Action Member Service Award focuses on the internal programs and services of a credit union. The award formally recognizes the practical application of the credit union philosophy within the actual operations of the credit union.
- The Desjardins Youth Financial Education Award recognizes the leadership of individual credit unions and chapters on behalf of youth financial education. Activities eligible for consideration include those that marshal resources on behalf of youth financial literacy.
- NEW! The Desjardins Adult Financial Education Award honors credit union efforts to teach personal finance concepts and skills to members and non-members age 18 and older. It recognizes credit unions that demonstrate leadership in the area of adult financial literacy.
Entries will be judged against submissions from other credit unions in the same asset category. Credit unions can submit entries for one or all of the awards programs.
Award submissions must be received by MnCUN by Friday, July 15. Additional information and entry forms are available on the National Credit Union Award Programs section of the Network website.
Minnesotans named to CUNA committees & council
In April six individuals in the Minnesota credit union movement were appointed to national positions on CUNA committees and boards. These individuals join others around the nation in providing CUNA insight and direction on the leadership and guidance it provides to the U.S. credit union movement. Minnesota’s appointees include:
- Jim Bryan of Postal Credit Union was reappointed to serve on the Awards Committee which oversees the judging of the national social responsibility programs, such as the Dora Maxwell and Louise Herring awards.
- Mark Cummins of the Minnesota Credit Union Network was named to four committees. He was selected to serve as the Cooperative Alliances Committee Chair. His was also reappointment to serve on the CUNA Strategic Services Audit Committee and Ethics Committee due to his position on the CSS Board of Directors. Additionally, he will once again serve on the Federal Credit Union Subcommittee, which focuses on regulatory and legislative concerns of interest to federal credit unions.
- Pam Finch of Mid-Minnesota Federal Credit Union was reappointed to the Accounting Subcommittee, which advises CUNA's Governmental Affairs Committee on accounting proposals and initiatives to pursue on behalf of credit unions. Since May 2009, Finch has also served as the Chair of CUNA's CFO Council.
- Kyle Markland of Affinity Plus Federal Credit Union will once again serve on the Examination & Supervision Subcommittee. This group addresses the concern for safe, fair and efficient examinations for federal and state credit unions; monitors the budget of state and federal credit union regulators; and recommends appropriate regulatory and legislative changes to the CUNA Governmental Affairs Committee.
- Russ Plunkett of Postal Credit Union was reappointed to the Cooperative Alliances Committee. This committee serves as the credit union system’s liaison with the larger cooperative community to facilitate the exchange of ideas that foster partnerships, alliances and opportunities among credit unions and cooperatives.
- Bill Raker of US Federal Credit Union was reappointed to the Governmental Affairs Committee, which advises and provides policy recommendations to the CUNA Board of Directors regarding legislative, regulatory, and political action issues affecting the credit union movement. In addition, Raker will once again serve on the National Credit Union Roundtable Advisory Council, which works with CUNA to cultivate communication between credit unions, leagues and national organizations.
Minnesota CEO nominated to National CU4kids Advisory Board
Hiway Federal Credit Union President & CEO Jeff Schwalen was recently named to the National Credit Unions for Kids (CU4Kids) Advisory Board. Made up of individuals from credit unions, state leagues, CUNA, and industry business partners, this group is charged with developing strategies that will substantially grows CU4Kids fundraising and providing fundraising support in their local markets.
Schwalen was nominated to the advisory board due to his longtime support of CU4Kids both at Hiway FCU and as a member of Minnesota’s Credit Unions for Kids committee. His vast fundraising experience will bring a wealth of knowledge to the board and will provide insight that can be shared with the entire credit union community.
NCUA to host ALLL webinar on May 26
Credit unions seeking to learn more about the intricacies of allowance for loan and lease losses (ALLL) are invited to attend NCUA’s free ALLL Exam Issueswebinar on Thursday, May 26, at 1 p.m. This session will focus on exam issues and ALLL interagency supervisory policies.
Led by NCUA Chief Economist John Worth, Senior Economist Ralph Monaco, and Regional Problem Case Officer Elizabeth DiNapoli, this interactive session will provide expert information on current ALLL issues. Participants will examine how to identify and address ALLL exam issues with qualitative and environmental factor adjustments. The NCUA experts will also overview current economic trends.
While this event is free, registration is required. For more information and to register for the webinar, visit the Event Calendar section of the Network website.
Free flood insurance seminar to be held June 28
Credit unions are invited to attend the National Flood Insurance Program’s free Demystifying the Lending Questions & Answers seminar on Tuesday, June 28. This half-day session will be held in Eden Prairie and will provide lenders answers to commonly-asked questions about flood insurance.
The seminar will overview the information included in Interagency Questions and Answers Regarding Flood Insurance publication printed in 2009. Specifically, the session will cover the topics of designated loans, insurable value, amount of flood insurance, flood zone discrepancies, residential condominiums, force placement, construction loans, PRP eligibility extension and more.
While this event is free, registration is required. For more information and to register, visit the Event Calendarpage of the Network website.
Minnesota credit union committees recognize key volunteers
The Minnesota Credit Unions for Kids (MnCU4Kids) committee and Minnesota Family Involvement Council (FIC) recently honored two individuals for their contributions to their respective committees. Steve Oien of Minnco Credit Union and Bridget Moeller of Greater Minnesota Credit Union received their volunteer awards last month at a banquet held in conjunction with the Network Annual Meeting.
Oien, President/CEO of Minnco CU, joined the MnCU4Kids committee in 2003 and was co-chair from 2004-2008. Oien received the Volunteer of the Year honor for his active involvement in the committee’s golf tournament, Annual Meeting, and Bowl-O-Rama subcommittees, along with regular attendance at meetings and involvement in other activities. This is the third consecutive year Oien has received the MnCU4Kids Volunteer of the Year Award.
Moeller, Vice President of Human Resources/Training at Greater Minnesota Credit Union, earned the Minnesota Family Involvement Council’s Outstanding Volunteer Award. Moeller joined the FIC in 2005 and has served as the Vice Chair since 2007. As a committee member, she plays an integral part on the committee, assisting in the coordination of its annual silent auction fundraiser, yearly scholarship competition, and Start 2 Go program.
"The strength of the credit union movement lies in people like Steve and Bridget who dedicate their time and resources to putting the credit union philosophy into action,” said Rachel Anderson, MnCUN Director of Communications and MnCU4Kids and FIC liaison. "They are both passionate about and dedicated to their respective causes and very deserving of the accolades they received.”
Register today for the Central Minnesota Chapter golf outing
Credit unions around the state are invited to attend the Central Minnesota Chapter Golf Outingon Friday, June 10, at the Wapicada Golf Club in St. Cloud. The tournament will start at 11 a.m. and will conclude with dinner at 4 p.m.
Attend this event for an afternoon of networking and fun. Registrations for the tournament must be received by Friday, May 20. For more information about the tournament and a printable registration form, visit the Event Calendarsection of the Network web site.
Credit union notes...
On Wednesday, NCUA closed Hmong American Federal Credit Union in St. Paul. The agency made the decision to close the credit union and discontinue its operation after determining it is insolvent and has no prospects for restoring viable operations. Members’ deposits at Hmong American Federal Credit Union are insured up to $250,000, and this insurance is backed by the full faith and credit of the U.S. government.
CUNA Mutual Discovery Webinar to focus on technology
CUNA Mutual Group will host a Technology Trends & Strategies for Credit Unions webinar on Tuesday, May 24, focusing on emerging technology trends and their implications for credit unions and members. This free webinar will provide insight into today’s technological advances and examine whether the changes are a threat or an opportunity
for credit unions.
Rick Roy, CUNA Mutual Senior Vice President & Chief Information Officer, will overview the mobility and consumerization of information technology, cloud computing, and security and privacy. He will also discuss the staffing implications of these key trends.
While this webinar is free, registration is required. For more information and to register, visit the Event Calendar page of the Network website.
Minnesota expands Shared Branching to 34 locations
Within the last month, Minnesota brought its number of credit union service centers to 34 after SPIRE Federal Credit Union added 10 new locations to Shared Branching. Minnesota’s Shared Branching network currently serves members of participating credit unions at numerous locations both in the Twin Cities and outside the metro area.
Through Shared Branching, credit unions across the country share facilities, providing members thousands of convenient locations to perform basic financial transactions. Shared Branching offers members the opportunity to visit other credit unions and perform transactions similar to those that they conduct at their home credit union, including making deposits, withdrawals, loan payments and more.
"The expansion of Shared Branching is critical to the growth and continued success of the credit union movement,” said John Ferstl, MnCUN Vice President – Network Service Corporation. "Shared Branching provides credit unions a tool to increase member retention by offering consumers numerous branch options around the state and nation. This network of service centers increases the probability that credit unions will have a location nearby – regardless of whether a member moves, changes jobs, or simply visits the credit union’s neighborhood less often.”
For more information about Shared Branching and to discover how you can join this network, visit the Shared Branchingpage of the Network website. With questions, contact MnCUN Vice President – Network Service Corporation John Ferstlby email or at (651) 288-5505.
CU Succeed is committed to your success
CU Succeed®is not just another vendor looking to make a quick buck. They are a cooperative venture of 25 state credit union leagues around the nation committed to helping you build a successful teen club at your credit union.
CU Succeed® is an affordable, turn-key program that enables credit unions to implement a professional, comprehensive teen club without spending lots of time or money. Through CU Succeed®, your credit union will be provided with all the necessary tools to manage its teen club. Here are some of the ways they work to help your credit union:
- A nationwide toll-free number
- Technical support by phone or email
- Convenient online ordering
- In-depth assistance for conducting teen seminars and events
- An implementation plan to help you get started
- A member services website with lots of helpful tools
- Text for letters to parents, teens, and school officials
- Text for your credit union newsletter
- Helpful tips on how to manageg your program successfully
- Templates for customized messages
These are just a few of the ways CU Succeed®is there to serve you. For more information about the products and services they have to offer, contact MnCUN Director of Business Development Vickie Ganrudeby email 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 webinars available. To register for these events, visit the online Event Calendar.
- May 23 (10 a.m.): Southern Minnesota Credit Union Open
- May 24 (10 a.m.): TeleCourse – Business Deposits & Fraud
- May 24 (12 p.m.): CUNA Mutual Webinar – Technology Trends & Strategies for CUs
- May 25 (10:30 a.m.): Roundtable – Technology
- May 25 (2 p.m.): Webinar – Regulation E & TISA Compliance
- May 26 (1 p.m.): NCUA Webinar – ALLL Exam Issues
- June 2 (10 a.m.): Telecourse – Conservatorships & Estates
- June 2 (2 p.m.): Webinar – Cash Flow on Commercial Loans
- June 7 (8:30 a.m.): Small Business Administration (SBA) Workshop
- June 7 (2 p.m.): Webinar – Online Account Opening & Lending
- June 8 (10 a.m.): TeleCourse –Warning Signs of Problem Loans
- June 8 (2 p.m.): Webinar – Operations BSA Training
- June 9 (2 p.m.): Webinar – Board Secretary Responsibilities
- June 10 (11 a.m.): Central Chapter Golf Outing