CU News (01-20-12)

The Pulse (01-20-12)

January 20, 2012   ●   Volume 01, Issue 03

View 01-20-12 Issue of The Pulse

Credit Union News

MnCUN Compliance Reference Guide available online

Credit unions can now access MnCUN's 2011 Compliance Reference Guide online. This resource provides information on a variety of regulatory and compliance topics.

The reference guide is available for download in its entirety or as individual sections. The following resources are contained within the compliance publication:

  • Deceased Member Guide;
  • Checks & Endorsements Guide;
  • Regulatory Summary 2011;
  • Credit Union Report Deadlines 2012 (organized by category); and
  • Credit Union Report Deadlines 2012 (organized by date).

These resources are available on the Regulatory Compliance Publications page of the Network website. With questions about the content of this reference guide, contact MnCUN General Counsel John Wendland by email or at (651) 288-5519.

NCUA webinar to feature CFPB director

NCUA Board Chairman Debbie Matz will host a free webinar on Wednesday, Feb. 8, at 2 p.m. featuring Richard Cordray, the first presidentially-appointed director of the Consumer Financial Protection Bureau (CFPB). The session will provide an overview of a variety of regulatory issues affecting credit unions.

During the NCUA portion of the webinar, Matz will highlight the agency's Regulatory Modernization Initiative, the corporate credit union resolution and other current topics. Cordray will discuss the CFPB, including its regulatory priorities and how its actions will affect credit unions. Participants will also have the opportunity to submit questions to Matz or Cordray.

While the webinar is free, registration is required. For more information and to sign up, visit the Event Calendar section of the Network website. An archived version of the webinar will be available two weeks after the event.

Financial education data available on Foundation website

Credit unions now have quantitative data that illustrates how the movement is making a difference through financial education and counseling.The National Credit Union Foundation (NCUF) through its REAL Solutions™ program recently released a free report titled "Credit Unions: Focused on Financial Capability Across the Nation,” which is the result of a yearlong data collection effort by NCUF with the help of Minnesota and leagues around the country.

In an effort to help the credit union community understand the depth and breadth of existing programs, NCUF and REAL Solutions™ conducted this comprehensive national study of credit union-provided member and consumer financial education and counseling. The data derived from this study will help quantify the extent to which credit unions are providing opportunities for members/consumers to advance their financial knowledge and decision-making skills.

The Minnesota Credit Union Foundation has a strong commitment to financial education and has made the Minnesota profile available online. The website also contains a link allowing for easy viewing of the profiles of other states. To view the report, visit the Financial Education Data page of the Foundation website.

CUNA survey on credit union domain name

CUNA is currently seeking responses to a survey that assesses credit union interest in obtaining a ".creditunion" domain name. The survey was developed in response to actions from the Internet Corporation for Assigned Names & Numbers, which has begun the process of allowing organizations to apply for their own custom internet domain names.

Comments can be provided to CUNA through a three-question online survey. CUNA notes that a potential benefit to pursuing the domain name would be that it could provide additional brand recognition. However, the switch to a new domain name may involve a fee and could take some time to complete. CUNA notes that the banking sector intends to obtain the ".bank" domain.

CUNA would like your credit union's input and feedback on this domain issue. To complete the survey, visit the CUNA website.


Minnesota Credit Union Network
555 Wabasha Street N, Suite 200
St. Paul, MN 55102

(651) 288-5170
(800) 477-1034