The Pulse (09-20-16)

Volume 5, Issue 38

The Pulse Archive


Minnesota Credit Union Network makes statement on Wells Fargo struggles

Last week, the Minnesota Credit Union Network responded to a Minnesota Public Radio request for comment on the current Wells Fargo congressional investigation.


"Ever since the economic crisis, consumers have been moving to credit unions because they trust the values of credit unions," Andrea Molnau, communications director of the Minnesota Credit Union Network, said in a statement. "Credit unions are not-for-profit, member-owned and local. It is not our nature to criticize corporations, however, consumers definitely have shifted which institutions they trust in to be their personal financial partner."


Earlier in the week, U.S. Bank CEO Richard Davis declared that he would not tolerate employees using the Wells Fargo inquiry to increase business.


The full Minnesota Public Radio News article can be found online.


With questions about Minnesota Credit Union Network media relations please contact Andrea Molnau by email or by phone at (651) 288-5527. 





MnCUN President & CEO Mark Cummins hosts fundraiser for Congressman Erik Paulsen

New Minnesota Absentee Ballot - Early Voting Opening Friday



NCUA releases Board Action Bulletin

Federal Reserve to host Fair Lending and Hot Topics webinar

September issue of NCUA Report

FFIEC releases revised information security booklet

NCUA issues Regulatory Alerts

DOD’s guidance on new MLA limitations beginning Oct.

Preparing for same day ACH – begins Sept. 23


View all Regulatory Compliance news stories


Budget for Comprehensive, Flexible Compliance & Audit Service Available Through MnCUN

In today’s complex regulatory environment, it can be difficult for a credit union to ensure compliance with ever-changing rules and regulations. The Minnesota Credit Union Network’s compliance & audit services offer credit unions the option to contract with a highly-qualified professional to help fulfill their compliance obligations.

The Minnesota Credit Union Network’s Compliance & Audit Consultant, Jennifer Stedt, assists credit unions in meeting ongoing regulatory needs and provides compliance and auditing services on a project-by-project basis. Stedt is a certified compliance officer with 20 years of experience in financial institutions. Her hands-on involvement in a diverse range of positions within the financial realm enables her to fully understand the intricacies of credit union operations. Specifically, she has experience in risk management, internal auditing, training, compliance and operations. She also has the ability to establish, develop, and strengthen programs that facilitate credit union compliance with regulations.

The following list of services is a general outline of functions performed through the MnCUN Compliance & Audit Consultant Program:

  • Bank Secrecy Act
  • Branch Operations
  • Credit/Debit Card Administration
  • FACT Act
  • Lending Compliance
  • Marketing/Advertising
  • SAFE Act
  • Supervisory Committee Annual Audit
  • Vendor Management
  • Website Compliance

Additional services may be available upon request. Contact Jennifer Stedt by email, by phone at (651) 288-5509, or toll free at (800) 477-1034.

Minnesota Credit Union Network
555 Wabasha Street N, Suite 200
St. Paul, MN 55102

(651) 288-5170
(800) 477-1034