CU News (09-21-12)

The Pulse (09-21-12)

September 21, 2012    ●    Volume 01, Issue 38

View 09-21-12 issue of The Pulse

Credit Union News

Grab your calendars – 2013 conference dates now available

MnCUN has set the dates for its 2013 conferences. These education events are focused on providing credit union professionals and volunteers opportunities for education, networking and legislative advocacy.

MnCUN's 2013 conferences include:

  • Western States Volunteers Conference – Jan. 27-29: Geared toward volunteers, this conference explores the intricacies of volunteer roles and discusses issues facing credit unions today.
  • Credit Union Day at the Capitol – Jan. 29: This advocacy event provides credit unions the opportunity to learn about legislative issues and build relationships with state elected officials.
  • CUNA Governmental Affairs Conference (GAC) – Feb. 24-28: Held in Washington, D.C., GAC provides attendees the opportunity to learn about national political and credit union issues and to meet with Minnesota's federal representatives.
  • Lending Conference – April 22-23: This educational event will offer credit unions new insights, perspectives and tools for tackling today's lending challenges and tomorrow's opportunities.
  • MnCUN Annual Meeting & Convention – May 17-18: The Annual Meeting features MnCUN's Business Meeting, along with educational sessions, networking opportunities, and a tradeshow.
  • CEO Conference – June 17-19: Targeted specifically toward credit union CEOs, this conference will discuss the issues, obstacles and opportunities facing credit union CEOs and their staff.
  • MnCUN Fall Conference – Sept. 6-7: Held at Madden's Resort in Brainerd, this conference offers a weekend filled with educational sessions, entertainment and recreation.
  • Supervisory Committee Workshops – Sept. 24, Sept. 26 & Oct. 16: Geared toward volunteers, this workshop will provide an overview of the Supervisory Committee's duties and responsibilities.
  • Hike the Hill – TBD (Fall): Hike the Hill is a national program coordinated by MnCUN and CUNA to bring credit union professionals and volunteers to Washington, D.C., to meet with Minnesota's Congressional Delegation.

For more information about each of these conferences, visit the Event Calendar section of the Network website. Additional information and online registration for each conference will be available six to eight weeks prior to the event.

Filene offers 4 tips for attracting Gen Y

Through a Gen Y webinar series coordinated by the Minnesota Credit Union Network, the Filene Research Institute has provided Minnesota credit unions four tips for attracting Gen Y members. The webinar series delivered the results of research conducted by Filene that investigated how Minnesota credit unions can attract and retain younger members.

Filene's top Gen Y marketing tips for credit unions included:

  1. Identify Gen Y needs: The characteristics that Gen Y members are looking for in a financial institution can be different than what credit unions are used to marketing to members. Filene suggests that credit unions make sure that they fully understand the Gen Y needs before they begin their marketing efforts.
  2. Build Gen Y products & services: When credit unions know what Gen Y wants and needs, the next step is to develop products and services specific to that demographic. Filene recommends that credit unions develop products and services centered on the "firsts” in life.
  3. Build awareness: The next step of the process is to build awareness among young adults about the credit union's products & services. When a credit union develops the message that it wants to focus on, social media platforms can be an effective method for communicating those messages.
  4. Use young employees: According to Filene, young employees are some of the most untapped resources at the credit union. Take advantage of the insight and perspective of your younger employees and use them to help you attract and retain young leaders, managers and volunteers.

For additional information and insight into each of these four tips, credit unions can view the archive of the Filene webinars held throughout the summer. To view the webinars and download the complete Filene research report, visit the Gen Y page of the Network website.

Hyland to leave NCUA on Oct. 5

During yesterday's board meeting, NCUA board member Christiane "Gigi" Hyland announced her resignation, effective Oct. 5. Hyland was sworn in as an NCUA board member on Nov. 18, 2005, for a six-year term, which ended Aug. 2, 2011. Prior to her time on the board, Hyland's credit union career included work as a credit union attorney and advocate for more than 14 years.

NCUA Chairman Debbie Matz said of Hyland's tenure at the NCUA, "Gigi has been an exemplary public servant. The credit union industry and the agency have been the beneficiaries of her intellect, tenacity and dedication to a safe and sound system." Matz also noted Hyland's initiative of updating the rules to raise the small credit union asset threshold, as proposed at the Sept. 20 NCUA open board meeting, as one of her most important.

Hyland, in her resignation announcement concluded, "It has been an honor to serve our country to protect the safety and soundness of nearly 7,000 federally insured credit unions and more than 93 million credit union members."

After Oct. 5, Hyland says she plans to take time off before considering future professional opportunities.

Looking for a co-op? There's an app for that

Last week the National Cooperative Business Association (NCBA) released a mobile app to help consumers find cooperatives in their area. Through the app, consumers can shop locally, support values-based businesses and find affordable alternatives to for-profit businesses in their communities.

The CooperateUSA app is a free resource developed by the NCBA in partnership with Cooperatives UK and National Cooperative Bank to provide access to 29,000 U.S. cooperatives in several industries, including credit unions and financial service, grocery and consumer goods, healthcare, childcare, housing, transportation, utilities and more. The app is compatible with Apple and Android smartphones and tablets, and offers the following features:

  • A locator to help find 29,000 U.S. co-ops by location, industry or product type;
  • Gaming features that tally points for cooperative activities and award prizes and discounts;
  • Timely updates about cooperative news, events and local offers; and
  • Education on how co-ops affect job creation, affordable housing, healthy food access and worker empowerment.

According to a recent study by NCBA and the Consumer Federation of America, consumers rank cooperatives higher than for-profit businesses on several measures of quality and service. The study found that nearly 80 percent of consumers believe cooperatives can be counted on to meet the customer's needs, and 74 percent believe co-ops have the best interests of the consumer in mind.

"This survey illustrates that cooperatives remain a trusted choice for millions of Americans who appreciate organizations that put the needs of the consumer first," said Liz Bailey, NCBA interim President/CEO. "Now more than ever, consumers want an alternative to businesses that focus only on the bottom line."

To download the cooperative finder app, search for CooperateUSA in the app store.

Foreclosure tools, training and reference materials available on CDFI Fund website

Credit unions can now find foreclosure aid materials on the U.S. Treasury's Community Development Financial Institution (CDFI) Fund website. The Foreclosure Solutions Resource Bank aims to help financial institutions improve their understanding of foreclosure intervention counseling and learn how to effectively implement a counseling program in their communities.

On the webpage, credit unions will find reference materials and information on foreclosure prevention training. The training resources include links to e-learning courses and government-run training programs. The new page "will be an essential tool for CDFIs navigating the intricacies of foreclosure intervention," the CDFI Fund stated.

The CDFI Fund helps locally-based financial institutions offer small business, consumer and home loans in communities and populations that lack access to affordable credit. Credit unions that are certified to take part in the CDFI program may apply for as much as $2 million in funding to help maintain their credit union's presence in the community. CDFI fund distributions are merit-based.

For more information about this fund and to access the foreclosure materials, visit the Community Development Financial Institution Fund website.


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

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