The Pulse (01-25-13)

The Pulse (01-25-13)

Jan. 25, 2013    ●    Volume 02, Issue 04

The Pulse Archive

Credit Union News

Dues deadline approaches Jan. 31

MnCUN dues packets were mailed to all Minnesota credit unions in mid-December. Packets included dues invoices, CUNA and MnCUN's Power of Association brochures, and MnCUN's 2012 Compliance Reference Guide. Invoices were also sent via email to each credit union president on Dec. 19. Dues should be remitted by Thursday, Jan. 31.

Use the following links for additional information about MnCUN dues:

With questions or for a copy of your invoice, please contact MnCUN Vice President – Association Services Kristina Wright by email or phone at (651) 288-5507.

Money Saving Tip: Order MnCUN's Webinars On Demand series

The Minnesota Credit Union Network is offering credit unions the opportunity to save money on valuable education through its Webinars On Demand series packages. Geared toward credit union boards and key departments, these series provide training on board issues, compliance, consumer debt and frontline service. Each package includes six sessions that are released at various times during the year but can be purchased in one package and used to train and educate employees and volunteers.

By ordering these unique webinar packages, credit unions can save 15 percent off the standard webinar price. This is a savings of nearly $200 when purchasing the entire series! Credit unions have three purchase options for each webinar series:

  • Live webinar sessions only;
  • On Demand sessions, with free CD-ROMs of each webinar; or
  • Live sessions, plus access to the On Demand features, including the free CD-ROMs.

To order a series package or to learn more, visit the Webinars On Demand Series page of the Network website. With questions, contact MnCUN Director of Education Sue Groskreutz by email or at (651) 288-5521.

CFPB to provide insight during Feb. 5 NCUA webinar

The Consumer Financial Protection Bureau's (CFPB's) release of its most recent regulations is raising questions among many credit unions about the changing regulatory environment. On Feb. 5, CFPB Director Richard Cordray will serve as a resource to answer credit unions' questions during a free NCUA town hall webinar.

The webinar, which will also feature NCUA Chairman Debbie Matz, will discuss the changing environment for financial regulation and consumer protection. Specifically, the webinar will cover the CFPB's recently finalized regulations, proposed rules and enforcement efforts. Webinar attendees will be able to ask questions of Director Cordray during the webinar and have the opportunity to submit questions in advance.

For more information about the webinar and to register, visit the Event Calendar page of the Network website.

FIC scholarships open until Feb. 1

If you know a credit union member who could use a financial boost toward their college education, encourage them to submit an application for the Family Involvement Council's annual scholarship program. This year, the FIC is awarding $10,000 in scholarships to Minnesota credit union members, which include two $1,000 awards and sixteen $500 awards.

To be eligible to receive these scholarships, the applicant must be a member of a credit union affiliated with the Minnesota Credit Union Network. Applicants who are not members but whose parents or other relatives are credit union members are not eligible. Additional eligibility requirements and an online application form can be found on the FIC website. Applications must be submitted by Friday, Feb. 1.

From diapers to retirement: CU Times outlines life-stage tools

As financial institutions that strive to be with their members from birth through retirement, credit unions must use creative methods to engage members through all life stages. The Credit Union Times recently highlighted eight effective life-stage credit union programs that can be used to involve members of all ages.

By targeting and engaging members of all ages, credit unions provide service that appeals to members' needs. Within its article, the Credit Union Times highlighted the following life-stage programs:

  • Dollar Dog Kids Club;
  • First Time Home Buyer Programs;
  • Kirby Kangaroo Kids Club;
  • Newlywed Club;
  • Not Your Mom's Account;
  • Senior Program;
  • Teen Advantage Club; and
  • Youth Products. 

To learn more about these programs, visit the Credit Union Times website.

"Your money is safe,” NCUA tells consumers

In a recently-release video targeting consumers, the NCUA reminds the public that their money is safe at credit unions. This video is part of the agency's broader effort to communicate to consumers that their money is insured up to $250,000 at credit unions – just like banks.

Your Money Is Safe is the first in a series of NCUA Consumer Reports designed to empower consumers to make better financial decisions. Future NCUA Consumer Reports will cover topics such as improving financial planning, resolving complaints at credit unions, and avoiding frauds and scams.

The new video explains how the National Credit Union Share Insurance Fund protects deposits. The segment also educates consumers about:

Credit unions are encouraged to share the video with members and those in their community by posting it on their website. To view the video, visit the NCUA's YouTube channel.

Advocacy Corner

Minnesota CUs obliterate 2012 fundraising goals by $6,000

CU Day attendee materials now online


At the Capitol

Legislature considers foreclosure legislation, reacts to Gov. Dayton's budget  

CFPB issues rule on mortgage origination
CFPB issues mortgage servicing rules 
CFPB issues final rule on appraisals and valuations
NCUA approves higher-priced mortgage appraisal rules
Treasury and IRS issue regulations to combat off-shore tax evasion
FinCEN invites nominees to join BSA advisory group
FTC publishes COPPA rule
Federal Reserve Bank to examine nation’s payments usage

Minnesota CU fills critical role in state’s Shared Branching network

LSS provides resources for credit unions to help members manage medical bills

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

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