CU News (02-24-12)

The Pulse (02-24-12)

February 24, 2012   ●   Volume 01, Issue 08

View 02-24-12 Issue of The Pulse

Credit Union News

Minnesota advocacy day touts CUs as a smarter choice


During MnCUN’s Credit Union Day at the Capitol on Feb. 16, Secretary of State Mark Ritchie encouraged credit unions to share with the public and legislators the advantages of being a credit union member.

Credit union representatives, state leaders and legislators proclaimed credit unions as a smarter choice during MnCUN's Credit Union Day at the Capitol on Feb. 16. The event, which welcomed more than 125 credit union professionals and volunteers, reminded elected officials that Minnesota credit unions are trusted, hometown financial institutions with a stake in and commitment to the communities and members they serve.

During this annual advocacy event, credit unions received political insight from several state leaders, including Secretary of State Mark Ritchie, Department of Commerce Commissioner Mike Rothman, Attorney General Lori Swanson, and Sen. Geoff Michel (R-Edina). These leaders recognized credit unions for their unique cooperative structure and not-for-profit business model and praised them for their dedication to serving members.

"Credit unions know how to develop value for their membership,” Commissioner Rothman said. "Your structure is unique, and it is important to have [credit unions] in the financial services sector.”

Commissioner Rothman went on to commend attendees for their involvement in legislative advocacy activities and stressed the importance of maintaining open communications with both legislators and regulators. Citing his commitment to financial literacy, the Commissioner invited credit unions to join him in teaching the public about money management and other aspects of personal finance.

Echoing Rothman's praise, Attorney General Swanson recognized the credit union industry as an "honest trade” that offers friendly service to members. Swanson also outlined her office's initiatives to combat predatory and payday lenders, unnecessary foreclosures and fraud, asking credit unions to join her in this fight.

Additionally, Secretary of State Ritchie, who classified himself as "a longtime credit union member, saver and borrower,” distinguished credit unions as an important and "driving force” in the state economy. He also encouraged attendees to use the International Year of Cooperatives as an opportunity to educate the public about this important sector.

"In this special year of the United Nations' International Year of Cooperatives, it is an ideal opportunity to tell all Minnesotans about the many advantages of being a member of credit unions,” Ritchie said.

With the theme "Credit Unions: A Smarter Choice," this year's Credit Union Day at the Capitol stressed to elected officials that credit unions are locally-based financial institutions that provide consumers a better financial option. Throughout the day, professionals and volunteers met with their elected officials to discuss how credit unions help Minnesota consumers improve their financial health and well-being.

Be part of The Crew at the MnCUN Annual Meeting & Convention

The Minnesota Credit Union Network invites credit union professionals and volunteers age 35 and younger to be part of The Crew at Annual Meeting. The Crew is an informal, event-based networking group for young professionals who have a desire to grow in their career.

At Annual Meeting, members will participate in a variety of unique networking events, including a "Coffee with the Crew” event featuring CUNA President/CEO Bill Cheney and MnCUN President & CEO Mark Cummins. Crew members also receive a discount on registration.

In addition to special Crew events, this year's Annual Meeting will feature national speakers including Cheney and former Minnesota Gov. Tim Pawlenty and renowned credit union experts Jim Aho, Rex Johnson and Mark Arnold. MnCUN and the Filene Research Institute will also unveil the results of a research initiative on attracting Gen Y members.

This year's Annual Meeting is not to be missed! To sign up for The Crew event and for general registration, visit the Annual Meeting page of the Network website.

Weekly regulatory advocacy report available online

Credit unions can stay up-to-date on compliance issues through MnCUN's online regulatory advocacy page. Featuring weekly reports from CUNA President/CEO Bill Cheney, this page provides updates on the movement's advocacy efforts to improve the environment in which credit unions operate.

The Regulatory Advocacy Report highlights significant developments from the National Credit Union Administration, Treasury, Consumer Financial Protection Bureau, and other federal regulatory agencies and departments whose rules affect the operations of credit unions. The report also details CUNA's efforts to convey credit unions' views to policymakers and improve the current regulatory environment.

The weekly advocacy report is posted on MnCUN's website and emailed to credit union presidents and compliance staff each Monday. If you would like to be added to this email distribution list, contact MnCUN Director of Technology Scott Shoberg by email or at (651) 288-5525. The report can also be downloaded on the Regulatory Advocacy Report page of the Network website.

Nominate a colleague for Minneapolis/St. Paul Business Journal's Women in Business

The Minneapolis/St. Paul Business Journal is accepting nominations for its 2012 Women in Business Awards. These awards will recognize top women business leaders in the Twin Cities who are on the rise in the corporate or entrepreneurial scene.

Through the awards, the newspaper will name 25 Women Industry Leaders and 25 Women to Watch and present one Career Achievement Award. Nominees should have impressive professional track records, leadership qualities, potential and drive. In addition, they must work in the 13-county Twin Cities metro area, including Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, Pierce, Ramsey, St. Croix, Scott, Sherburne, Washington and Wright counties.

Nominations forms are due by midnight on Friday, March 9, and can be obtained from the Minneapolis/St. Paul Business Journal website.



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

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