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|The Pulse (07-29-15)|
The Pulse (07-29-2015)
July 29, 2015 ● Volume 04, Issue 30
Credit Union News
Throughout the year, MnCUN is dedicated to accomplishing a wide variety of strategic initiatives geared toward the goal of creating the environment for credit unions to grow. These activities include providing strong advocacy on the legislative, regulatory and public awareness fronts; offering regulatory compliance support; supplying education and networking opportunities; and fostering cooperation and unity among the industry.
At the mid-point of 2015, we wanted to give you – our members – an update on the activities that the Network has engaged in on your behalf. We are proud to report that in the first half of 2015 we have:
To make the most of your membership, we encourage you to take a look at all of the resources the Network has to offer. As a member of the Minnesota Credit Union Network, you are also a member of the Credit Union National Association (CUNA). Be sure to review Membership@Work, CUNA’s publication that highlights their efforts on behalf of more than 100 million credit unions members nationwide.
The strength of the Minnesota credit union movement is represented by the partnership between the Network and our member credit unions, along with our dedication to working cooperatively to advocate for more than 1.6 million credit union members across the state. We appreciate the privilege of serving you and working with you to meet industry challenges and opportunities. Please feel free to contact Network staff at any time with your questions or suggestions.
Minnesota will soon see an automatic increase in its minimum wage rates as a result of legislation that was passed during the 2014 legislative session. Beginning August 1, increased wage rates will go into effect.
For additional information regarding the scheduled increases, see the Minnesota Department of Labor’s minimum wage guide. See also their mandatory state posters page, where updated posters can be ordered free of charge.
MnCUN Crew members volunteer at Gillette Children’s Specialty Healthcare Ronald McDonald Family Room
Last week, members of the Minnesota Credit Union Network young professionals group, The Crew, toured Gillette Children's Specialty Healthcare to see first-hand how Minnesota credit unions help children and families in need. Following the tour, members of The Crew cooked dinner for families staying in the Ronald McDonald Family Room which offers overnight accommodations and a common space for families of children staying overnight at the hospital.
Minnesota credit unions are proud supporters of Children’s Miracle Network Hospitals. Since its inception in 1997, the Minnesota Credit Unions for Kids Committee has raised over $2.8 million dollars to support Gillette Children’s Specialty Healthcare, which helps kids with disabilities and chronic conditions.
Building on a base of knowledge developed with a 2013 research study, the Minnesota Credit Union Network worked with Fluence Media and American Strategies in January to ask 500 Minnesotans a series of questions to gauge their attitudes about and knowledge of credit unions and current issues such as data breaches. The research study was funded by Minnesota credit unions’ voluntary contributions to the Credit Union Awareness Fund, and key findings were presented at the 2015 MnCUN Annual Meeting & Convention in April.
In addition, a July 16 Marketing & Business Development Peer-to-Peer (P2P) session focused on three themes from the 2015 Consumer Research Survey to use in credit union marketing, including:
To find out more details about these themes and how to use them in your credit union’s marketing efforts, access the P2P webinar (the password is olson). Contact Network Communications Director Connie Kuhn with any questions.
Is your credit union seeking assistance with compliance? Do you need an audit completed? Or perhaps you’re not quite sure what kind of help your credit union needs? The Network’s Compliance & Audit Consultant can help.
MnCUN’s Compliance & Audit Consultant Jennifer Stedt is a CUNA-certified BSA Compliance and is a certified compliance officer with 20 years financial institution experience in a variety of positions. She is able to assist credit unions with any number of compliance and/or audit services, such as:
For a complete list of services and to watch a short overview video of MnCUN’s compliance & audit consulting, visit the Compliance Services page of the Network website. With specific questions or to schedule an appointment, contact Jennifer Stedt by email or at (651) 288-5509
On Friday, August 14 1:30 p.m. Patty Avery, Program Specialist for Your Money, Your Goals (YMYG) with the Consumer Financial Protection Bureau (CFPB), will be hosting a conference call to discuss how Minnesota credit unions have implemented YMYG training.
Credit unions that have not implemented YMYG training are encouraged to join the call to learn more about the program.
Please email MnCUN Associate General Counsel and Minnesota Credit Union Foundation Executive Director Lyndsay Miller to register.
On Sept. 3 the Small Business Association will be hosing the 2015 Minnesota Lenders’ Conference at the Marriott Minneapolis Northwest. The Lenders’ conference is an opportunity for credit unions to learn how to maximize their participation in SBA lending programs and build their network of SBA program and industry experts.
This conference will show participants how SBA loan programs can be a key part of your lending strategy, and a tool for attracting new customers with competitive loans for capital expansion and working capital needs. This event includes workshops on a variety of SBA-related topics, along with an exhibit hall featuring companies that offer products or services related to commercial lending.
More information and conference registration available online.
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.
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