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|The Pulse (02-11-15)|
The Pulse (02-11-2015)
February 11, 2015 ● Volume 04, Issue 6
Credit Union News
According to preliminary data released by the National Credit Union Administration (NCUA), Minnesota credit unions experienced strong year-over-year asset, deposit and loan growth between year-end 2013 and 2014. Growth includes $881 million in assets, $647 million in deposits and $713 million in loans over the one-year period.
“Minnesota credit union performance was solid in the fourth quarter and 2014 was a strong year overall,” said Minnesota Credit Union Network President & CEO Mark Cummins. “The continuing growth we’re seeing in loans and other indicators is a positive sign for Minnesota consumers, businesses and the state’s economy as well.”
Credit unions submit quarterly data to the National Credit Union Administration (NCUA). This summary and analysis was compiled by the Minnesota Credit Union Network.
Two members of credit union young professionals group to attend 2015 Governmental Affairs Conference
Nathan Dormody of Royal Credit Union and Joanna Drennen of Affinity Plus Federal Credit Union – both members of the Minnesota Credit Union Network’s (MnCUN) young professionals group “The Crew” – have been selected to “Crash” the Credit Union National Association’s (CUNA) 2015 Governmental Affairs Conference (GAC) in March.
Dormody and Drennen will join young professionals from all over the United States in Washington, D.C., to meet with political leaders, attend educational sessions, and discuss topics affecting the credit union industry. As “Crashers” they receive conference registration from CUNA and membership in the Cooperative Trust.
Dormody is a Branch Manager at Royal Credit Union’s branch in Edina and was recently appointed MnCUN’s 2015 Crew Ambassador. In his role as Crew Ambassador, Dormody serves as a leader for his peers in the group and also provides visibility for The Crew by serving as a spokesperson and representing the group at various MnCUN functions throughout the year.
In addition to her duties as a marketing specialist for Affinity Plus Federal Credit Union, Drennen serves as a MnCUN Grassroots Coordinator, is a member of MnCUN’s GrassRoots Education & Action Team and is also an active participant in The Crew, which is open to those 35 years of age and younger.
CUNA and the Cooperative Trust – a young professionals group established by the Filene Research Institute – have partnered with state credit union leagues, including MnCUN and the Minnesota Credit Union Foundation, to choose up to 51 young credit union professionals to take part in the Crash event.
“Providing opportunities for our emerging credit union leaders to participate in national industry events like the GAC is critical for helping them develop in their careers,” said MnCUN President & CEO Mark Cummins. “The legislative and regulatory knowledge our Crew members gain from these experiences also builds a strong foundation for the credit union industry in the years ahead.”
Join us at the Radisson Blu Mall of America for two days of business meetings, engaging speakers, educational sessions and networking. Whether you are a credit union professional or volunteer, from a large or small credit union, you will find programs specifically geared toward your needs.
This is an event not to be missed. Complete event details are available online in the Annual Meeting & Convention section of the Network website. This section contains a schedule of events, lodging information, prices and online registration.
For additional information or with specific questions about MnCUN's 2014 Annual Meeting, please contact Director of Education Sue Groskreutz by email or at (651) 288-5521.
Minnesota credit unions are encouraged to join organizations across the country for America Saves Week Feb. 23 to 28. Started in 2007, this week is an annual opportunity for organizations to promote good savings behavior and encourage individuals to assess their saving status. By participating in this initiative, Minnesota credit unions demonstrate their commitment to helping members reach their financial goals.
America Saves Week provides financial institutions the opportunity to provide tools to strengthen and increase consumers' savings habits. Credit unions are encouraged to use America Saves Week to attract new members, offer incentivized accounts to help people save, increase account balances, and educate individuals on the importance of saving. To help credit unions accomplish these four goals, the program offers a toolkit full of marketing materials and resources, including:
To access these materials, credit unions must sign up to participate in America Saves Week. For more information and to sign up, visit the America Saves Week page of the Network website.
Minneapolis/St. Paul Business Journal will be accepting nominations for its annual Women in Business Awards through March 6. In May, the Twin Cities' top women business leaders will be honored in the Business Journal’s annual Women in Business publication.
Each year, the Business Journal recognizes 50 women for their professional achievements, leadership qualities, and contributions to the broader Twin Cities community. The Business Journal also honors one female executive with a Career Achievement Award.
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.
NCUA Issues Letters to Federal Credit Unions
Out for Comment
The Minnesota Credit Union Network (MnCUN) welcomed 23 participants into its Vendor Involvement Program (V.I.P.) for 2015. Designed to optimize business relationships with Minnesota’s credit unions, V.I.P. combines advertising with exclusive benefits at MnCUN’s major conferences, as well as speaking engagements and opportunities to participate in new MnCUN initiatives.
V.I.P. was created in 2005 to provide committed service organizations with an opportunity to work with MnCUN and increase brand visibility among Minnesota credit unions. MnCUN’s V.I.P. participants are dedicated to serving credit unions and their members by providing quality products and competitive pricing.
“The Vendor Involvement Program strengthens our online presence, grows our visibility within the credit union industry, and provides increased opportunities to communicate our company mission to our core audience,” said LeAnn Case of CU Companies.
Participants in MnCUN’s Vendor Involvement Program agree to offer professional service and quality product lines. These companies must appreciate the characteristics that make credit unions unique and understand the importance of providing the best service possible to Minnesota’s credit union members.
“The Vendor Involvement Program gives credit union service providers an effective way to promote their offerings and to show support for Minnesota credit unions,” said MnCUN Vice President – Network Service Corporation John Ferstl. “This program provides specific opportunities to target potential clients and can help create brand loyalty among credit unions.”