Legislative updates: Congress was out last week for the Passover holiday and the House Financial Services committee will hold a hearing on merger policies of the federal banking agencies today and the Senate Banking committee will hold a hearing on higher prices on Thursday.
Marijuana reclassification: Yesterday, the U.S. Drug Enforcement Administration announced that it will move to reclassify marijuana as a less dangerous drug, a step clears the last significant regulatory hurdle before the agency’s biggest policy change in more than 50 years can take effect. Minnesota Bankers Association lawsuit: Last month, a Minnesota federal district court dismissed the Minnesota Bankers Association’s and Lake Central Bank’s lawsuit challenging the FDIC’s supervisory guidance on NSF fees. America’s Credit Unions interchange webinar, Tomorrow May 2: America’s Credit Unions announced a webinar on Thursday May 2 at 1:30 PM CST to go over efforts among federal regulators that could significantly alter credit unions’ operating landscape. Join the CREW Young Professionals for the "Coffee with the CREW" on Tuesday, May 21 at 9 a.m. This series focuses on providing credit union young professionals with continued opportunities for networking and collaborating to help further knowledge and professional growth within the industry.
This meet-up will be facilitated by Christopher Morris, Engagement Consultant from America's Credit Unions. Keep Purpose Constant: Credit Union Movement 101 In this session, get a comprehensive orientation to the power of the credit union movement. Where did CUs come from? How are CUs different? How is our system built? More importantly, how can learning about our movement help us build a bigger and stronger CU & career? We will open up the webcams and audio lines for the group to join our facilitated panel discussion. All aspects of this session have been created with the intention of shared learning among facilitators and attendees. We will be asking attendees to actively participate before and throughout this session. Date: Tuesday, May 21, 2024, Time: 9:00 AM- 9:45 AM Cost: FREE With questions, please contact Xiong Lee, MnCUN Director of Engagement. Exclusive to Arch MI, Essentials of Mortgage Lending is a training opportunity ideal for industry newcomers and those who want a refresher course on the basics.
Each session on the agenda is designed to enhance your ability to originate, process and underwrite first-mortgage loans to secondary market standards. The course runs two days and discounts are available for multiple attendees from the same credit union. For more information, review the agenda or view the complete course description. When: May 22–23, 2024 Where: Blaze Credit Union 840 Westminster St. St. Paul, MN 55130 Spaces Go Fast! Reserve your seat by sending RSVP/payment by May 3 to: Stephanie Roth W4040 Fairlane Circle Malone, WI 53049 REGISTER NOW This session will also be held in Fond du Lac, WI October 9–10. Details will be provided closer to the event date. Contact Stephanie Roth with questions at 920-960-1777 or sroth@archmi.com The Minnesota Credit Union Foundation (MnCUF) and St. Cloud Financial Credit Union are proud to recognize Alyce Justin as a Credit Union Builder for her service to the credit union movement. Alyce's story with St. Cloud Financial Credit Union began in 1979, a time when she stepped into the unknown world of financial institutions. Her journey, starting from the teller line, is a testament to her adaptability and commitment to growth. Alyce's career trajectory, from Teller to Executive Vice President (and so many in between), mirrors the remarkable evolution of the credit union over the years. Her list of achievements is extensive, from leading successful mergers to being an integral part of the groundbreaking remote conversion team. Alyce's impact extends beyond the walls of the credit union, with her instrumental role in community initiatives. St. Cloud FCU would like to honor Alyce's 44+ years in the credit union industry and being a huge part in building the credit union culture. Created in 2008, the Credit Union Builder Award honors an individual’s dedication to the success, growth, and vitality of the not-for-profit financial movement in Minnesota. Dedications are typically made at a time of significance to acknowledge an individual’s contributions to credit unions. The nearly 100 individuals have been designated as Credit Union Builders since the award's inception. The names of the recipients and the contributing credit unions are permanently displayed in the Minnesota Credit Union Network’s lobby as a tribute to those who have dedicated time and energy to building the credit union movement. The Enhanced Financial Counseling Certification Program (FiCEP) teaches credit union staff how to counsel members so they can budget better, smartly save, pay down debt and plan for the future. Obtaining the training and associated credentials allows your credit union to differentiate itself from other financial institutions, and help members build a stronger financial future. The deadline to register is Friday, May 3.
The cohort-style training consists of 8 tutorial webinars, exam preparation, proctored exam, and program development training - taking place between June - early October. Upon completion, participants will receive the Certified Credit Union Financial Counselor (CCUFC) designation. The program is provided in partnership between CUNA's Center for Professional Development (CUNA CPD), CU Difference, and a collaboration with the Minnesota, Wisconsin, and Montana Credit Union Foundations. Visit mncun.org/enhanced-ficep-program to learn more.
Each dollar that is raised through CU4Kids helps improve the health of kids and allow them the opportunity to grow to their full potential. And they couldn't do it without the generosity of millions of people in the local community. Through these donations, local member hospitals can provide treatments and support patients desperately need today, so that they can fulfill their potential for tomorrow.
Credit unions have been proud partners of CMN Hospitals through CU4Kids since 1996 and have raised more than $200 million benefiting local member hospitals. Member hospitals have used funds to provide both direct financial assistance as well as community-based programs in economic developments. This allows patients to have the needed support while helping put their family’s minds at ease while they are in the hospital. Visit the CU4Kids LinkedIn page to view a video from Marie Osmond announcing the award. And subscribe to the CU4Kids Newsletter by visiting cu4kids.org. Last week, nearly 500 credit union professionals, board members, and exhibitors gathered at the Mystic Lake Center in Prior Lake for ACCELERATE 24. The theme for Minnesota Credit Union Network's annual conference is "Driving Innovation and Growth for Credit Unions," and speakers included Economist Elliot Eisenberg from GraphsandLaughs and International Speaker and Violinist Diane Allen, a TEDx/TED Speaker and Thought Leader who speaks on increasing the meaning, joy and fulfillment in one's work and life by Accessing the Flow State. During the annual business meeting, the election results were announced. Three seats were up for election: two in the at-large category and one in the 10,000 or fewer credit union members category:
MnCUN Board Chair Dave Boden announced he will be stepping down as Board Chair after the Annual Meeting and stepping down from the Board later this year. Boden was recognized with a gavel award for concluding his term as Board Chair. Two Board Members concluded their service on the Board: Mary Hansen and Julia Havens are terming off the Board after twelve years of service. Dave Boden, Mary Hansen, Julia Havens were presented with framed painting of Minnesota’s state flower, the lady slipper. Part of a one-of-a-kind state flower collection, these prints are displayed at the Credit Union House on Capitol Hill in Washington, D.C. The rarity of this print represents the unique perspective, insight and wisdom they have brought to the MnCUN Board. Additionally, the Board passed an official Proclamation of Appreciation for their service and dedication to Minnesota’s Credit Unions. Following the Business Meeting, Board table officers were elected. Dana Garrett, North Memorial Federal CU will serve as Chair, Steve Ewers of Member’s Cooperative Credit Union will serve as Vice Chair, and Dave Larson, of Affinity Plus Federal Credit Union will serve as Secretary/Treasurer. Minn. Credit Unions Honor Colleagues during Awards Breakfast
Video tributes of each of the award winners are available on the Minnesota Credit Union Network’s website.
Learn 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 Julia Miller. NCUA Opens CDLRF Grant Round May 1: The National Credit Union Administration (NCUA) announced that credit unions can apply for the 2024 Community Development Revolving Loan Fund grants between May 1 and July 1.
CFPB HMDA Data Available: On April 5, the Bureau issued a press release announcing HMDA data supported report showing a trend that consumers are paying upfront fees seeking lower interest rates on mortgages. FTC Office of Technology Issues Reminder on Poor Company Security Practices: On April 17, the Federal Trade Commission (FTC) Office of Technology issued a reminder on security practices on its long-time effort to improve the technology security practices of companies from all industries. |
The PulseThe Pulse is MnCUN's newsletter that keeps credit union professionals and board members updated on current news and information. Archives
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