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|The Pulse (03-26-14)|
The Pulse (03-26-14)
March 26, 2014 ● Volume 03, Issue 12
Credit Union News
Local celebrities Kim Insley & Don Shelby join industry headliners NCUA Chairman Debbie Matz, Dan Mica & Brett Christiansen at MnCUN Annual Meeting
Along with a new location, the Minnesota Credit Union Network Annual Meeting & Convention boasts a fresh schedule and a host of quality speakers designed to provide timely and relevant education and training. Join us at the new Radisson Blu Mall of America April 25-26.
A few of these speakers are featured below:
Early bird registration ends April 3. Don't miss out on a weekend packed with learning, networking and entertainment opportunities. Registration is now open for MnCUN's 2014 Annual Meeting & Convention! For a conference schedule and online registration, go to the 2014 Annual Meeting page of the Network website.
Earlier this month the National Credit Union Administration announced that the upper end of projected corporate stabilization assessments declined by $2.2 billion between July and December 2013 "reaffirms the good news credit unions received last fall," Credit Union National Association Chief Economist Bill Hampel said.
NCUA’s Board announced at its November 2013 meeting there would be no planned Stabilization Fund assessment in 2014. As long as both ends of the projected range of net remaining assessments remain negative, there will likely be no need for future assessments.
The Minnesota Credit Union Network strives to provide valuable, high-quality services to our members. We serve a diverse membership with equally diverse needs. For that reason, it is critical for us to assess our performance in fulfilling our mission to ensure the success, growth and vitality of our member credit unions.
On Thursday, March 20, member credit unions received the Minnesota Credit Union Network's 2013 Performance Survey. This annual questionnaire requests credit union feedback on the quality of our services and product offerings over the past year.
MnCUN's Performance Survey has been sent to all credit union employees who are registered in our database, in an effort to obtain comprehensive feedback from those who regularly use our services.
This survey takes about 10 minutes to complete, and all responses should be submitted by Monday, April 7.
With questions, please contact MnCU2N Vice President of Association Services, Kristina Wright by email or call (651)288-5507.
The Minnesota Credit Union Foundation – with the mission of providing resources for credit unions and communities to prosper and thrive – has a strong commitment to financial education. On Monday, the Foundation announced that it has $7,500 in grants available to assist Minnesota credit unions in implementing financial education projects.
Applications are currently being accepted, through Tuesday, April 1.
Applications will be evaluated on a variety of factors, including credit union value, community impact, collaboration and creativity. Projects/initiatives must have measurable outcomes and submit a written follow-up report within 30 days of the project completion.
For additional information and application forms, visit the financial education grants page of the Foundation website. With questions, email MnCUF Staff Liaison Kristina Wright or call (651) 288-5507.
Wakota Federal Credit Union’s Amanda Kissner was recently appointed as the Minnesota Credit Union Network’s Crew Ambassador for 2014. In this new role, Kissner has been serving as a leader for her peers who are part of The Crew, MnCUN’s young professionals networking group. Designed to provide leadership and visibility opportunities, the Crew Ambassador position helps guide Crew offerings throughout the year. She serves as the group’s spokesperson, representing the Crew at various MnCUN functions.
During the last week of February I was in Washington with about 4400 other credit union advocates to partake in the Governmental Affairs Conference (GAC). I attended the conference as a member of the Crash the GAC group. The “Crashers” group was assembled by The Cooperative Trust. The Cooperative Trust is a grassroots organization of committed under-35ers who work in credit unions and cooperatives and share a passion for socially responsible finance. (Partner founder is Filene Research Institute.)
On top of the regular GAC agenda the “Crashers” had their own schedule packed full of educational presentations and networking opportunities. I attended this conference to collaborate with other YPs from different size CUs to bring “social enterprise” ideas back for you to elaborate on or implement at your credit unions. Not only did we focus on credit union improvement, we also spent time discussing career development opportunities for individual CU YPs. At a political level we dug in deep to understand the top legislative issues CUs are facing today at state and federal platforms.
Last week marked our first Crew event of 2014, with a Crew Exclusive session at Credit Union Day at the Capitol. I hope most of you were able to attend as we were privileged to discuss political advocacy with Representative Joe Radinovich.
Rep. Radinovich is serving his first term as Legislator for District 10B. He was elected in 2012 at the age of 26. He provided ample insight about effective advocacy and his perspective on starting his political career at a young age. Rep Radinovich's advocacy tips started with social media. As you know the credit union industry uses social media to promote our legislative issues to our members, the general public and our representatives. This is an effective tool for those who use Twitter and Facebook however not all Representatives are active users. Rep. Radinovich urges us to continue using this avenue though we should also be aware of the other communication possibilities (i.e. letters, emails, phone calls and voicemails, etc.). If we utilize all opportunities our concerns will reach all of our representatives.
A heartfelt story was shared by the Representative explaining why he became interested in running for office. Growing up and attending school in a rural area he was well aware of the unequal opportunities for communities with low income in terms of revenue for public schools. Rep. Radinovich currently sits on Early Childhood and Youth Development Policy Committee and Education Finance Committee.
Credit unions can learn more about promoting financial literacy by participating in a free webinar, “Financial Literacy: Putting Your Mission into Action,” hosted by the National Credit Union Administration on Thursday, April 3, 2014, at 1 p.m.
Promoting financial literacy is a core credit union mission, and the NCUA webinar, part of the agency’s National Financial Literacy Month activities, will provide participants with valuable information on several topics, including:
Registration for this free webinar is now open. Click here to register.
This year’s Credit Union National Association (CUNA) Marketing & Business Development Council’s Diamond Awards competition received over 1,130 entries. Held during the Council’s 21st annual conference, March 12-15 in Orlando, FL. judges awarded seven entries as Best of Show, along with 70 Category’s Best and 231 Diamond Awards.
“The best of the best in marketing and business development in the credit union industry are receiving Diamond Awards in 2014,” said Nancy C. Hutchinson, Chair of the CUNA Marketing & Business Development Council Diamond Awards Committee and SVP Marketing/Business Development with Minnesota Power Employees Credit Union, Duluth, MN. “This year, categories and submission procedures were enhanced; combined with the matrix scoring system established in 2013, the caliber of entries showed impressive advancement. In the credit union industry, these awards hold us in high regard at our credit union and in the industry; all who won were very deserving of this recognition.”
The following Minnesota credit unions received awards in 2014:
City & County Credit Union
General Mills Federal Credit Union
Mid-Minnesota Federal Credit Union
SPIRE Federal Credit Union
The Diamond Awards, representing the pinnacle of credit union marketing and business development, features 29 categories, ranging from direct mail and website marketing to public relations and social media. Judges evaluated entries based on strategy, design and production, creative concept, copy and communication, and results.
A complete list of award winners is available online.
Did you know? Credit unions can support professional development and local financial literacy efforts through the Community Investment Fund (CIF). For the past 15 years, the CIF investment option has been available through the Minnesota Credit Union Foundation (MnCUF) and the National Credit Union Foundation (NCUF). Through this program, investing credit unions receive 50 percent of the return, and the remaining 50 percent is split evenly between the MnCUF and the NCUF.
Investment options and features are described below.
The Credit Unions for Kids National Advisory Board welcomed Minnco Credit Union President & CEO Steve Oien. Credit Unions for Kids is a nonprofit collaboration of credit unions, chapters, leagues/associations and business partners from across the country, engaged in fundraising activities to benefit 170 Children’s Miracle Network Hospitals. Adopted as our movement’s charity of choice, credit unions are the third largest sponsor of CMN Hospitals.
One hundred percent of every dollar donated by the credit
union movement goes back to the state’s CMN-designated hospital, which for
Minnesota is Gillette Children’s Specialty Healthcare in St. Paul, with
outreach clinics around the state. Since 1996, the Credit Unions for Kids
program has generated more than $100 million for CMN hospitals, including $8.7
million in 2011 alone.
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 Credit Unions
Out for Comment