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|The Pulse (09-30-15)|
The Pulse (09-30-2015)
September 30, 2015 ● Volume 04, Issue 39
Credit Union News
25 credit union CEOs from around the state, along with representatives from the Minnesota Department of Commerce and NCUA, had a frank conversation on Friday with NCUA Vice Chairman Rick Metsger. Organized by the Minnesota Credit Union Network and hosted by Wings Financial Credit Union, Apple Valley, the CEO roundtable event provided an open format for CEOs to discuss various issues, obstacles and opportunities their credit unions face.
Questions and comments from CEOs ranged in topic from Risk-Based Capital and field of membership concerns, to member business lending and cybersecurity. Credit unions were encouraged to understand the risk these issues bring to their balance sheets, and then manage that risk. “The most important letter in CAMEL is ‘M’,” said Metsger.
Metsger noted he is hopeful the NCUA will have a final Member Business Lending (MBL) regulation issued within the next three months. He also shared his thoughts on how NCUA’s field of membership initiative may evolve. Some changes he would like to see include providing federally chartered credit unions “multiple [field of membership] options to accomplish what you want to do with your strategic plan.”
The NCUA budget was also discussed. Metsger noted the efforts his department has taken to improve efficiencies where they can, and use technology to make things easier on both examiners and credit unions. He encouraged credit unions to review the NCUA budget online and make suggestions and recommendations.
“We are fortunate to have the opportunity to have a frank and honest conversation with our head regulatory agency,” said Mark Cummins, Minnesota Credit Union Network President and CEO.
Metsger encouraged future dialogue. As displayed in the updates recently made to the Risk Based Capital Rule “Your comments do make huge differences,” said Metsger.
Following the roundtable, Metsger toured Star Choice Credit Union at its Bloomington headquarters.
Keeping up with the latest industry news can be easy—when you use the right sources. Credit union leaders around the world set aside time each year to attend the virtual Discovery Conference. CUNA Mutual Group’s day-long Discovery Conference is scheduled for Wednesday, Oct. 15.
Credit union professionals are encouraged to join their peers at the upcoming Minnesota Credit Union Network Peer-to-Peer (P2P) meetings. P2Ps includes time for personal introductions, lunch and discussion. A full list of upcoming P2P sessions can be found on the MnCUN calendar online.
Collector P2P – Forfeitures: Shila Walek currently serves as the Chief Deputy Isanti County Attorney. She has been a practicing attorney in the Isanti County Attorney’s Office for over nine years, primarily practicing in civil law, including forfeiture litigation. Ms. Walek will present a general overview of forfeitures, what they are and how they work; provide “best practices” for lienholders to maximize their position; give tips on how to best negotiate and work with law enforcement; and answer general forfeiture questions. More information and registration availableonline.
Compliance P2P - Frontline ID fraud training: Joe Guy was with the Roseville Police department for 37 years. During his tenure as an investigator, he worked cases with the US Secret Service, FBI, and the US Postal Inspection. After retiring from RPD, he went to Pakistan and taught "White Collar Crimes Investigations" at the National Police Academy in Islamabad. Upon his return from Pakistan, he worked as a Crime Analyst for the Minnesota Financial Crimes Task Force. Guy has been teaching "Identifying Counterfeit I.D." courses for more than 30 years to LE, banks, credit unions, casinos, restaurants, and retail stores. More information and registration available online.
P2Ps provide credit union professionals the opportunity to participate in cooperative meetings to network and exchange ideas.
In advance of International Credit Union (ICU) Day, the National Credit Union Foundation (the Foundation) is hosting a Twitter chat for credit unions on Thursday, October 8 at 3 p.m. The Foundation invites credit unions to discuss their activities around ICU Day and credit union philosophy.
“Credit unions around the world do a wide variety of activities on International Credit Union Day to celebrate their uniqueness and achievements,” said Christopher Morris, Foundation Director of Communications. “This year’s ICU Day theme is the credit union philosophy of ‘people helping people,’ which is also central to the mission of the National Credit Union Foundation. Naturally then, we’re pleased to facilitate this forum for idea sharing around these important topics.”
Credit unions and their staff are encouraged to share best practices and examples of successful ICU Day events and how they leverage credit union philosophy with staff and members via the chat. The Credit Union National Association (CUNA), will be featured in the Twitter chat as a special guest.
Foundation Twitter Chat Details
The Twitter chat is a live streaming conversation, free and open to anyone with a Twitter account. For this Twitter chat, the hashtag will be #foundationchat. Twitter users can either type #foundationchat into the Twitter search box or utilize other tools such as Tweet Chat, etc. to follow the conversation.
Credit union professionals and organizations are invited to follow the Foundation at @NCUFoundation for news and updates. The @NCUFoundation account will be leading the Twitter chat discussion. Questions will be tweeted using a Q1, Q2, etc. format, which can be replied to with a corresponding A1, A2, etc. format. All questions and answers should contain the #foundationchat hashtag.
Click here to download/view the list of questions to be asked during the Twitter chat.
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 Communications Specialist Laura Whittet.
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