CU News (11-16-12)


The Pulse (11-16-12)

Nov. 16, 2012    ●    Volume 01, Issue 46

View 11-16-12 issue of The Pulse

Credit Union News

CUs called to legislative action

Dedicated to doing all that it can to pass member business lending (MBL) legislation, the Minnesota Credit Union Network is asking for 100 percent participation in its most recent advocacy effort. As Congress concludes its work this session, this will this will be our last and best chance to pass legislation to raise the MBL cap to 27.5 percent of assets. Credit union professionals, volunteers and supporters should contact their federal elected officials and encourage them to support this important piece of legislation. To respond to this Action Alert, visit the GREAT website.

NCUA estimates 2013 premium, stabilization expenses

During this week's NCUA Board meeting, the agency provided an estimated 2013 NCUSIF premium of 0-5 basis points and an estimated 2013 Stabilization Fund assessment of 8-11 basis points. Additionally, the agency approved a 2013 budget of $251.4 million, which is a 6.1 percent increase from the 2012 budget.

The total amount of 2013 budget increase is $14.5 million, and $12.8 million of this budget increase would go toward possible staff pay increases, employee benefits, locality pay, and full funding for full-time employees that were only partially funded in 2012. The approved budget will require an increase in the operating fee for federal credit unions of 0.24 percent. However, the agency noted that this number could change if Congress does not approve a federal employee pay increase for next year.

CUNA has stated that it is outraged by NCUA's planned 2013 budget increase and "will be pursuing this with other policymakers to achieve greater accountability and transparency in the agency's budgetary process”


Together we are stronger!

The strength of the Minnesota Credit Union Network is our unity and our willingness to work cooperatively. Not only do credit unions help each other as a part of the cooperative movement, but MnCUN also spearheads the state's credit union advocacy efforts and communicates with a broad base of legislators on behalf of credit unions.

The strength that comes from joining together to advocate for the credit union movement and 1.5 million Minnesota credit union members is immeasurable. In addition to legislative initiatives in the state, MnCUN member credit unions are also a part of the industry's national advocacy efforts through the three-tiered system of CUNA, MnCUN and Minnesota credit unions. The Network also works to enhance your consumer awareness efforts by delivering messages to the general public on the credit union difference.

We are acutely aware of the challenges and opportunities credit unions face in today's changing financial environment. Our staff of professionals is dedicated, experienced and passionate. Through specialized expertise and innovative services, our members can be sure to receive the assistance you need – when you need it.

Affiliation is key to our success and to the success of the industry. We appreciate the opportunity to serve credit unions across the state, working together to meet the present and future challenges. With questions about your membership with the Minnesota Credit Union Network, visit the MnCUN Membership page of the Network website or contact MnCUN Vice President – Association Services Kristina Wright by email or phone at (651) 288-5507.

Learn leadership excellence at the Western States Volunteers Conference

Credit union volunteers consistently work hard to face credit union challenges head on, and their roles require knowledge in a variety of increasingly complex areas. To excel, your credit union's volunteers need the right tools! This year's 2013 Western States Volunteers' Conference, set for Jan. 27-29 in Las Vegas, offers useful practices, strategies and expertise that will enhance the volunteer role as an effective leader.

Geared toward board members, supervisory committee members, credit committee members and all interested volunteers, this conference will provide vital industry updates, strategic tools and information on market trends. Attendees will leave with sharpened skills in the areas of governance, strategy, technology, financial management, regulatory requirements and leadership. This conference will help volunteers develop a strategic direction for the credit union and provide a great opportunity to network and exchange ideas with other credit union volunteers from across the country.

To register for this event, visit the Western States Volunteers' Conference page of the Network website. Those who register before Friday, Dec. 28, will receive a $50 early-bird discount.

Underwriting, CU mergers and more featured in new Webinars On Demand

Credit union professionals and volunteers looking to learn about today's current issues at a time and place that is convenient for them are invited to check out MnCUN's Webinars On Demand. These sessions are available via web link and enable individuals to learn on their own schedule.

Last month, a number of Webinars On Demand became available, including ones focused on loan underwriting, credit union mergers, computer security and business accounts.The new sessions include:

  • Frontline Series: Business Accounts: Who is Authorized to Open, Close, Transact?
  • Lending Series: Advanced Underwriting Skills for Consumer Loans
  • Credit Union Mergers: Pros, Cons, Due Diligence, Governance & More
  • Completing the New SAR Line-by-Line: Crimes, People & Narratives
  • Computer Security for All Staff

In addition to being convenient, Webinars On Demand enable credit unions to train multiple people for the price of one live webinar. For more information and to purchase a webinar archive, visit the Webinars On Demand page of the Network website.

Show your love to Gillette; participate in Chain of Hearts

Credit unions, great ready to line your lobbies with paper hearts! The Minnesota Credit Unions for Kids (MnCU4Kids) committee is preparing to launch its 2013 Chain of Hearts campaign. This is a statewide fundraiser that will run from Jan. 10 to Feb. 28. All proceeds benefit Gillette Children's Specialty Healthcare – based in St. Paul with clinics statewide – which helps kids with disabilities and chronic conditions.

To participate in the fundraiser, credit union members purchase paper links and hearts that are connected and hung in credit union lobbies to help illustrate the "people helping people” philosophy of credit unions. Ten years ago the MnCU4Kids committee took this fundraiser statewide for the first time, and last year was one of the most successful, with the committee surpassing its fundraising goal by more than $5,000. Committee members hope to do the same this year, bumping up the fundraising target to $40,000. You can help them beat this goal!

Chain of Hearts is available to your credit union at no cost. Each participating credit union will receive the following materials for free:

  • Fundraiser instructions;
  • A supply of hearts and links;
  • Sample press release;
  • Sample social media posts; and 
  • Chain of Hearts posters.

To participate, credit unions should complete the Chain of Hearts registration form by Friday, Dec. 7. With questions about this fundraiser, contact MnCUN Communications Specialist Kelli Sandhurst by email or by phone at (651) 288-5503.




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

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