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|The Pulse (01-28-15)|
The Pulse (01-28-2015)
January 28, 2015 ● Volume 04, Issue 4
Credit Union News
The revised risk-based capital proposed rule (RBC2) has been published in the Federal Register. As a result, the 90 day comment window has begun, with comments due to the agency on or before April 27.
On Jan. 20, the National Credit Union Administration (NCUA), upon several requests made under the Freedom of Information Act (FOIA), posted on its website a legal opinion it obtained in 2014 regarding NCUA’s legal authority to issue the risk-based capital rule under the Federal Credit Union Act.
The Credit Union National Association (CUNA) also released the risk-based capital legal opinion it obtained on NCUA’s legal authority to enact the risk-based capital proposal. CUNA further released a News Now article commenting on the legal opinion it obtained, and how such opinion was instrumental in discussions with NCUA regarding revisions to the original proposal.
Credit unions, businesses, states and government agencies around the country celebrate April as Financial Literacy Month. Credit unions have a foundational belief in financial education, and this month provides an opportunity for credit unions to highlight their financial literacy efforts.
Personal finance is a top priority for credit unions because improving financial literacy, increasing personal savings, decreasing debt and living within a budget is a formula for success. While the offerings and activities of no two credit unions are the same, all credit unions operate with the belief that educated consumers – both young and old – make better members.
The Minnesota Credit Union Network, the Minnesota Credit Union Foundation, and the Credit Union National Association (CUNA) join forces this month to encourage credit unions to make their financial education efforts known to their members and to the local media.
For additional information, celebration ideas and helpful resource links, visit the Financial Education page of the Network website the Minnesota Credit Union Foundation website, and the CUNA National Credit Union Youth Month™ webpage.
MnCUN dues packets were mailed to all Minnesota credit unions in mid-December. Packets included dues invoices, CUNA and MnCUN's Power of Association brochures, and information about the additional funds for 2015. Dues should be remitted by Friday, Jan. 30.
Use the following links for additional information about MnCUN dues:
With questions or to receive a copy of your invoice, please contact MnCUN General Counsel John Wendland by email or by phone at (651) 288-5519.
MnCUN is now accepting nominations for two of its most prestigious awards – the Outstanding Professional of the Year or Outstanding Volunteer of the Year.
Presented on an annual basis, the Professional and Volunteer Awards showcase dedicated service and professionalism of credit union staff and board members for their work over the previous calendar year. The winners of these awards are recognized during the Minnesota Credit Union Network Annual Meeting & Convention, which takes place April 10-11 at Radisson Blu Mall of America, Bloomington. Credit unions are encouraged to nominate a staff member, board member or colleague.
Nominations are due to the Network by Friday, Feb. 6. Complete information and online nomination forms can be found on the 2015 Professional & Volunteer of Year Awards page of the Network website. Please note that only nominations completed using the online forms will be accepted. With questions about these awards programs, contact MnCUN Director of Communications Connie Kuhn by email or at (651) 288-5527.
The Minnesota Family Involvement Council is awarding $10,000 in scholarships to Minnesota credit union members. Only a few weeks remain to apply for $500 and $1,000 scholarships -- deadline is Feb. 1. More information and the online application are available on the FIC website.
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.