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|The Pulse (10-23-13)|
The Pulse (10-23-13)
Oct. 23, 2013 ● Volume 02, Issue 42
Credit Union News
Credit Union Magazine recently published an exclusive list of industry professionals who it has named credit union "Rock Stars.” Minnesota is well-represented among this group with three honorees – Pam Finch, the former Chief Financial Officer at Mid-Minnesota Federal Credit Union; Dick Nesvold, president/CEO at SouthPoint Federal Credit Union; and Bob Stowell, Senior Vice President and Chief Operating Officer at US Federal Credit Union.
The Network’s Credit Unions in the News page features recognition-worthy projects and initiatives from credit unions across the state. Got news of your own? Send stories, pitches, press releases and published articles to MnCUN Director of Communications Connie Kuhn.
As the end of the year approaches, the Minnesota Credit Union Network looks ahead to 2014 with energy and optimism. MnCUN staff work as tireless advocates for your credit union and for the entire industry as they provide compliance support, educational seminars, legislative advocacy, networking opportunities and much more!
But don't take our word for it! Find out what your peers are saying about the value of being a member of the Minnesota Credit Union Network.
With questions about membership with the Minnesota Credit Union Network, please contact MnCUN Vice President – Association Services Kristina Wright by email or phone at (651) 288-5507.
Minnesota credit union financial performance indicators were again mixed for the second quarter of 2013 as the Minnesota economy gained 20,000 jobs. Looking ahead, improved economic growth is expected across the state in 2014 due to an improving housing market, as well as in the energy and durable goods sectors. With this backdrop, credit union operating results should reflect modest improvement.
Minnesota’s credit unions experienced strong net growth in the second quarter and the number of Minnesota credit unions considered "well-capitalized” rose to nearly 99 percent. The following are summaries of performance indicators from MnCUN’s second-quarter statistical profile, compiled by the Credit Union National Association.
For additional insights from the report, go to the Minnesota CU Statistics page of Network website to download the full Second QuarterMinnesota Credit Union Profile.
Credit unions are encouraged to share this information internally and with members of the media, drawing comparisons and contrasts with your individual credit union's data. With questions about the report's information and data, contact MnCUN Controller Tommy Rempfer by email or at (651) 288-5511. With questions about disseminating this information to the media or your members, contact MnCUN Director of Communications Connie Kuhn by email or call (651) 288-5527, or contact Communications Specialist Kelli Sandhurst by email or at (651) 288-5503.The Minnesota Credit Union Foundation recently announced the award of $10,000 in financial education grants to three credit unions. All grant funds will be used to further the credit unions’ diverse financial education programs or initiatives that benefit members and communities.
Recipients were chosen by the Foundation Board of Directors based on a variety of factors, including credit union value, community impact, collaboration and creativity.
"The Foundation Board was very impressed with the applications we received this fall,” said Foundation Chairman Pat Brekken. "It’s impressive to get a closer look at some of the amazing initiatives being coordinated by Minnesota credit unions, and I’m proud that the Foundation can be a resource to provide financial support to these important programs.”
Fall 2013 Financial Education Grant recipients include:
With the mission of providing resources for credit unions and communities to prosper and thrive, the Foundation has a strong commitment to financial education. This is the inaugural year of the Foundation’s Financial Education Grant Program. The program debuted in the spring with the first round of grant awards and will continue with a spring and fall grant period in future years.
Additional information and details are available on the Financial Education Grants page of the Foundation website.
The 2013 digital directory showcasing the 24 participants of this year’s Minnesota Credit Union Network Vendor Involvement Program (V.I.P.) is now available. The 2013 V.I.P. Directory features full company descriptions, as well as valuable 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.
Credit unions are the third largest corporate contributor to Children’s Miracle Network Hospitals annually, behind only Wal-Mart and Costco. Introduced nationally in 1996, Credit Unions for Kids has raised more than $100 million for affiliated CMN hospitals around the country.
MnCU4Kids Co-Chairs Marlo Hirl of General Mills Federal Credit Union and David Engler of Hiway Federal Credit Union were among the invited guests at the collaboration forum.
In 2012, MnCU4Kids raised more than $200,000 through the generous support of credit unions, credit union members, and several local and national companies that work with credit unions, most notably CO-OP Financial Services. All funds raised by MnCU4Kids stay local, supporting Gillette Children’s Specialty Healthcare, which helps kids with disabilities and chronic conditions. Gillette, based in St. Paul with outreach clinics located around the state, is Minnesota’s CMN-affiliated hospital.
"We are proud of the success of Minnesota Credit Unions for Kids and appreciate the opportunity to be able to share our successes and collaborate with others,” Hirl said. "It’s very valuable to hear from other fundraising organizations and to discuss events and strategies around the charitable work that we’re all doing to support Gillette and CMN.”
The sharing ideas and resources is at the root of the forums, which encourage cooperation among sponsors. CMN hosts similar meetings in other regions around the country.
"The passion, creativity and hard work that the Minnesota Credit Unions for Kids Advisory Board displays year after year is truly impressive,” said Joe Dearborn, national CMN’s Senior Director of Credit Unions for Kids. "They continue to motivate the credit unions across the state to make miracles possible for kids at CMN Hospitals throughout Minnesota.
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