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|The Pulse (09-03-2014)|
The Pulse (09-03-2014)
September 3, 2014 ● Volume 03, Issue 35
Credit Union News
Last Thursday, leaders from the Minnesota Credit Union Network (MnCUN) and the Credit Union Association of the Dakotas converged in Fargo to provide credit union awareness and education to the media. Both organizations met with business and editorial board staff of the The Forum, the major newspaper covering the Fargo and Moorhead media markets.
At the meeting, participants discussed the state of credit unions, specifically recent growth and the overall strength of the industry. Conversation also focused on agricultural and business lending, data security, financial education, and credit unions’ commitment to community involvement.
Part of an overall public affairs strategy, Fargo/Moorhead was one of four stops on MnCUN’s fall slate of press events. Meetings aim to inform and educate members of the media – and thereby Minnesota consumers – on the credit union difference.
“Engaging the media is a major strategic initiative for us at the Network, because we believe that educating reporters and editorial boards will result in more accurate, balanced coverage on financial issues impacting Minnesotans,” said MnCUN President & CEO Mark D. Cummins.
“We are committed to working alongside the credit unions in our state to ensure that members of the media – as well as legislators, community leaders, and consumers – understand the importance of belonging to a local, not-for-profit, member-owned financial institution,” he added.
To accompany the press tour, MnCUN released an infographic titled “Minnesota Minded” – click here to view the infographic. This fall’s press tour will engage additional media markets of St. Paul, Brainerd and Rochester.
The 2014 digital directory showcasing the 21 participants of this year’s Minnesota Credit Union Network Vendor Involvement Program (V.I.P.) is now available. The 2014 V.I.P. Directory features full company descriptions, as well as contact information for these vendors that have promised dedicated service to Minnesota’s credit unions.
This digital edition also allows credit union professionals to view it anywhere – on a desktop computer, laptop or by using their smartphone's web browser. This interactive directory can also be downloaded as a PDF, shared by email or social media, or printed.
The exclusive vendor listing is a benefit of participating in V.I.P., which is an advertising program that increases service organizations' visibility among credit unions. V.I.P. participants agree to support the Network and Minnesota's credit unions and pledge to offer professional service, quality product lines and competitive pricing. Participation in the Vendor Involvement Program does not constitute an endorsement by the Minnesota Credit Union Network.
More information about the Vendor Involvement Program and links to the 2014 V.I.P. Directory are available on the Network website. With questions, contact MnCUN Vice President – Network Service Corporation John Ferstl at (651) 288-5505.
Regulatory relief, transparency, accountability, among main focuses of new NCUA board member McWatters
Last week, new National Credit Union Administration (NCUA) Board member J. Mark McWatters announced his top priorities for his term at the agency. In a statement, he named regulatory relief, transparency, accountability, supporting low-income credit union members and promoting greater industry diversity as among items high on his list, according to the Credit Union National Association (CUNA).
"In discharging my duties, I will always welcome advice and counsel from the broader credit union industry, as well as from the management and members of individual credit unions," McWatters said.
The NCUA has a full-time, three-member board appointed by President Barack Obama and confirmed by the United States Senate. No more than two board members can be from the same political party, and each member serves a staggered six-year term. The NCUA chair is Debbie Matz, and the vice chair is Richard Metsger.
Your favorite bowling fundraiser is just weeks away! Join the Minnesota Credit Unions for Kids (MnCU4Kids) committee for the 7th Annual Bowl-O-Rama on Thursday, Oct. 23. This event provides credit union professionals and volunteers the chance to raise money for a great cause and have fun doing it.
All proceeds from this fundraiser go to Gillette Children's Specialty Healthcare and its clinics around the state, which help kids with disabilities and chronic conditions. Gillette is Minnesota’s Children’s Miracle Network (CMN) designated hospital.
The Bowl-O-Rama begins at 11 a.m. at Stars & Strikes Entertainment Center in Wyoming, Minn. Participants will enjoy lunch, three games of bowling and prize drawings. Plus hear from a Gillette family that directly benefits from the contributions made through MnCU4Kids.
Credit unions are known by consumers as trusted sources for financial information and advice. Across the state and across the country, credit unions large and small provide financial education to their members and to their communities. Below are two financial education opportunities that credit unions can participate in this fall.
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.
Out for Comment
Retain your increasingly busy current members, and attract new ones, by offering the convenience of widespread branch access and greater person-to-person contact. Extend your reach with shared branching to give your members what they demand. And expand your opportunities to deepen relationships by providing additional products that add new channels for profitability while reinforcing your value as a primary financial institution.
Credit unions often underestimate the cost of inconveniencing their members. Although new channels such as online and mobile are important, the thousands of branches maintained by big national banks offer serious competition for the allegiance of the countless consumers who prize having many convenient places to interact in person with their financial institutions. Through the cooperative power of CO-OP Shared Branching, you can leverage the strength of the fourth largest branch network in the country to retain these most active and profitable members.
More than 1,800 institutions now participate in CO-OP Shared Branching, representing thousands of locations in 50 states. Leverage the economic advantages of this cooperation as part of your branch delivery strategy and you can offer the convenience of an expanded service area, plus service continuity that builds member relationships and bolsters disaster recovery.
CO-OP Shared Branching provides:
CO-OP Shared Branching capabilities include:
The Network Service Corporation (NSC) manages Minnesota's shared service centers under contract with the Minnesota Credit Union Services Corporation (MnCUSC), a CUSO formed and owned by the NSC and credit unions.
To learn more about MnCUSC and the opportunities available to your credit union through shared branching, contact MnCUN Vice President – Network Service Corporation John Ferstl by email or at (651) 288-5505.