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|The Pulse (01-14-15)|
The Pulse (01-14-2015)
January 14, 2015 ● Volume 04, Issue 2
Credit Union News
The National Credit Union Administration (NCUA) has released its agenda for the Board’s Jan. 15 meeting, including the revised risk-based capital proposal (RBC2). It is anticipated that the revised proposal will address common concerns raised in the Network’s comment letter, including the 10.5 percent requirement to be well-capitalized, risk weights, and also a reasonable implementation time frame.
NCUA, through its Office of Examination and Insurance, will be hosting a webinar on Jan. 21 at 3 p.m. that will cover the changes from the original RBC proposal to the revised version, as well as providing some explanation and justification for the changes made. Registration for this event has not yet been provided, and we will continue to monitor its release and follow up with additional information in a future article.
CUNA will also be hosting a free webinar, titled “Update on NCUA’s Risk Based Capital Proposal” on Jan. 26 at 2 p.m. Registration is limited so interested participants should register as soon as possible. To register, see CUNA’s registration page. The presentation will be archived and made available at a later date.
As a dues-paying member of the Minnesota Credit Union Network, we thank you for your involvement and support. To ensure that you are aware of all that MnCUN has to offer and to make the most of your membership, credit unions are encouraged to take a deeper look at the Network's core areas of focus as listed below. Follow the headline links for additional information!
In addition, the products & services section of the Network website provides information about Shared Branching opportunities, CUNA Strategic Services, and the Minnesota Item Processing Corporation (MnIPC).
With questions about the Network, please visit the contact us page of the Network website.
The Financial & Audit Professionals Grant Fund was established in 2014 through a generous contribution from Rich Gabrielson, a CPA who worked with Minnesota credit union supervisory committees, boards of directors and management throughout his 36-year career. Gabrielson retired from CliftonLarsonAllen, LLP at the end of 2013.
This contribution provides up to $2,000 in annual grant funding for Minnesota credit union staff and volunteers who have financial and audit-related responsibilities to attend various educational events, conference and seminars. Eligible credit unions must be headquartered in the state of Minnesota, and individuals are only eligible to receive Financial & Audit Professionals Grant Fund dollars (maximum of $1,000) every four years. Grants will be available on an annual basis until the fund is exhausted.
Funding from the Financial & Audit Professionals Grant program is intended to cover or defray the costs for credit union professionals and/or volunteers to attend timely and accurate educational events, conferences and seminars on financial and audit-related topics. Reputable course providers include, but are not limited to, the following:
The Financial & Audit Professionals Grant application period will be open from Nov. 1-30 each year, and grant recipients will be selected by the Foundation Board in December. Recipients will be notified within two weeks of the Foundation Board’s selection. Grant funds must be used by Dec. 31 of the following year, and recipients must submit proof of registration and the .
Consumers across the country continue to discover credit unions – the smarter choice in the financial industry!
aSmarterChoice.org uses news stories and member testimonials to educate consumers about credit unions. The national credit union locator on the site enables users to quickly and successfully find a credit union in their area. In addition, this website offers marketing materials that credit unions can use to promote this valuable tool. The free marketing resources available to credit unions include:
In 2013 consumers who used aSmarterChoice clicked on search result links to individual Minnesota credit unions nearly 3,000 times. To maintain that momentum, credit unions need to update their own information within the locator to ensure that it’s accurate and comprehensive. Take the time to review information posted for your credit union on the website. To edit your profile, visit aSmarterChoice.org's update your records page or contact Scott Shoberg at the Network office for login credentials.
MnCUN is now accepting nominations for two of its most prestigious awards! Now is your chance to nominate a colleague for the Outstanding Professional of the Year or Outstanding Volunteer of the Year.
Presented on an annual basis, the Professional and Volunteer Awards showcase dedicated service and professionalism of credit union staff and board members for their work over the previous calendar year. The winners of these awards will be recognized during the Minnesota Credit Union Network Annual Meeting & Convention, which takes place April 10-11, 2015, at Radisson Blu Mall of America, Bloomington. Honor what makes your coworkers special! Consider nominating a supervisor, CEO, colleague or volunteer for these awards.
Nominations for both awards must be received by the Network no later than Friday, Feb. 6. Complete information and online nomination forms can be found on the 2015 Professional & Volunteer of Year Awards page of the Network website. Please note that only nominations completed using the online forms will be accepted.
With questions about these awards programs, contact MnCUN Director of Communications Connie Kuhn by email or at (651) 288-5527.
There are only a few short weeks left to apply for the Family Involvement Council scholarship program!
This year, the FIC is awarding more $1,000 scholarships with $10,000 in scholarships available to credit union members in Minnesota. A total of 4 applicants will be awarded $1,000 each. The remaining scholarships will be awarded $500 each.
The deadline for applications is Feb. 1. Details and the online application are available on the FIC website.
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 Director of Communications Connie Kuhn.