The Pulse (12-16-2015)
December 16, 2015 ● Volume 04, Issue 50
The Pulse Archive
Credit Union News
CUNA Board Action to Modernize Membership Structure
CUNA announced last week it would be modernizing their association bylaws. One of the anticipated changes is to accommodate choice in CUNA’s membership structure regarding dual membership in CUNA and Leagues. The CUNA Board has tasked the Corporate Governance Committee with drafting new bylaws to reflect governance changes. We anticipate that any modifications will not be effective until 2017.
Your Network Board is committed to provide powerful state and national advocacy that maximizes resources for Minnesota Credit Unions. We will continue to monitor this issue and will keep members informed of CUNA’s actions on the dues system. Any resulting changes we would need to make to Network bylaws would be effective in 2017 as well. This will be discussed at the next Network Board meeting in January, and we want to be responsive to the opinions of member credit unions. Please share your thoughts and questions on this position with Mark Cummins.
Together We are Stronger – the Value of Affiliation
Annually credit unions make decisions on where to appropriate funds. You may wonder, “What do I get for my dues to the Minnesota Credit Union Network?” We believe an investment in the Network is an investment in the future of your credit union.
As the trade association for Minnesota Credit Unions, our role is to help the industry grow market share through the following key focus areas:
- Advocacy: The ever-changing political landscape of financial institutions demands consistent legislative and regulatory advocacy.
- Awareness: Strategic communications to position credit unions as the best financial partner for Minnesotans.
- Compliance: MnCUN helps credit unions navigate compliance standards and regulatory requirements.
- Education and Professional Development: MnCUN provides numerous training and development opportunities, providing staff and volunteers the tools they need to perform in their positions effectively and efficiently.
- Foundation: The Minnesota Credit Union Foundation strives to provide resources for credit unions and communities to prosper and thrive.
- Products & Solutions: Through the Network Service Corporation (NSC), your credit union has access to a variety of products and services that help your organization meet the financial needs of its members.
The value of an association is more than its listing of services. Similar to how a credit union pools resources to provide member benefits, Network member credit unions pool resources in order to create an environment conducive to doing credit union business. An investment in the Network is an investment in your credit union – to create a positive legislative environment, to ease your regulatory burden, and to increase market awareness so your credit union can thrive. We do not take lightly our obligation to you, our members, and we value your continued trust in us. With questions about your membership with the Network, please contact Mark Cummins or John Wendland.
$10,000 in scholarships available from the Minnesota Family Involvement Council
The Family Involvement Council (FIC), a committee of the Minnesota Credit Union Foundation (MnCUF), will be awarding $10,000 in scholarships to 16 credit union members for the 2016-2017 school year. Applications are being accepted on the FIC website through Feb. 1, 2016.
The FIC annual scholarship program is the focus of its mission to provide financial awareness to families and to further the education of Minnesota credit union members. Scholarship applicants are asked to submit information on their extra-curricular activities and accomplishments, as well as an essay on an FIC-selected topic. Four $1,000 Harvey Bakke scholarships and twelve $500 scholarships were awarded this year to college students in traditional (high school seniors entering college) and non-traditional categories.
“We encourage credit unions to promote the FIC scholarship as a value of credit union membership,” said FIC Chair Bridget Petersen. “MnCUN Affiliated credit unions have access to a FIC scholarship toolkit making it easy to download, personalize and distribute promotional materials.”
Funds for the FIC’s scholarship program are raised each year during the committee’s silent auction, which is held during the Network’s Annual Meeting & Convention.
With questions, contact FIC Chair Bridget Petersen by email or by phone at (651) 641-2256.
Last Pulse Newsletter of 2015
The Pulse will not be distributed on Wednesday, Dec. 23 or Wednesday Dec. 30. Publication will resume the following week. Happy Holidays!
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.
Contact NCUA, legislators in support of Field of Membership changes
View all Governmental Affairs news stories
NCUA releases December Report
View all Regulatory Compliance news stories
There is still time to offer your members discounts on Turbo Tax
The holidays are fast approaching and tax season isn’t far behind! Don’t miss the chance to offer your members discounts on America's #1 online tax preparation service. Credit union members are eligible to save up to $15 on TurboTax online and download products
The TurboTax program also has great opportunities for your credit union to:
- Build member loyalty and retention with great discounts
- Exclusively promote products and services to your members on your co-branded TurboTax microsite
- Capture tax refunds as investments, auto loan down payments, etc. with the direct deposit feature on your microsite
All members file taxes, don't let them miss out on the credit union member discounts from TurboTax. There’s no reason for your members to go anywhere else!
To learn more about the TurboTax program, contact MnCUN’s Director of Business Development Kris Jacobsen.
Free Email Marketing Service
To better assist credit unions with marketing and communicating the TurboTax program to your members, CU Solutions Group provides a free email service to send TurboTax program emails to your members on your behalf. This service is available to all credit unions enrolled in the TurboTax program, and will soon be available for all Love My Credit Union Rewards programs.
How It Works
CUSG provides a secure server to upload member email addresses and information needed to create the emails, including:
- Credit union logo
- “From” email address
- Member email list
CUSG creates a proof of the email and submits the proof to you for review and approval. When approval is received, CUSG will then send the email to your members on the designated date.