Output (09-09-11)

Output (09-09-11)

September 9, 2011   ●   Volume 34, Issue 18                                                               Archived Issues

Register today for MnCUN’s Lending School

Experienced lenders and those new to the position are invited to attend MnCUN’s Lending School on Oct. 26-27. This popular two-day school offers content-packed sessions covering the lending process from start to finish and addressing hot topics. The training will teach not only the technicalities of lending but also the philosophies and strategies behind the process.
This year’s Lending School will feature two workshops to help attendees refresh and revitalize their credit union’s lending programs. Day one will be a Proactive Lending Workshop that will provide a solid foundation of lending knowledge and tools. Attendees will review basic loan underwriting skills, learn how to effectively use credit scores, and explore how to make better loan decisions while minimizing risks.
Day two of the school will be a Lending in Today’s Marketplace Workshop that will help attendees bring their lending practices to a new level. Geared toward more experienced loan officers, loan managers and CEOs, this program is designed to help credit unions make better loan decisions, increase revenue and profitability, and improve membership growth and retention.
Attend MnCUN’s Lending School and discover how to improve your credit union’s lending practices. For more information, online registration and a printable brochure, visit the Lending School page of the Network website.  Register by Tuesday, Oct. 4, and receive $50 off the standard registration price.

Let the Network tell your credit union’s MBL story

As part of efforts to draw attention to the importance of credit union member business lending (MBL), the Network and CUNA are seeking testimonies from credit unions. Specifically, we are looking for recent stories about small business owners who have been helped by their credit union.
Credit unions that have received positive feedback from their members regarding their MBL efforts are encouraged to tell their stories to the Network. These stories will be shared with federal elected officials and will support the movement’s legislative efforts to pass the Small Business Lending Enhancement Act, S. 509 and H.R. 1418, which would expand credit union business lending authority to 27.5 percent of total assets. These real-life stories will communicate how raising the MBL cap has the potential to help stimulate the economy.
If your credit union has an MBL story, the Network wants to hear it. Please send your testimonials to MnCUN Political Advocacy Director Monica Weber

MnCUN offers free rate-checking resource for member CUs

Looking for data to help your credit union make more informed decisions on deposit, loan and fee pricing? Look no further than the Minnesota Credit Union Network website! Last month, MnCUN added an online resource page, courtesy of RateWatch, that allows Minnesota credit unions to view the high, low and average rates on the most prevalent deposit and loan products in the state’s various counties.

Since 1989, RateWatch has been surveying up to 90,000 credit union and bank branches to collect advertised deposit and loan interest rates and fees. That data is accumulated into the largest database of its kind in the country.
This free map of average county interest rates is a dues-supported service offered to MnCUN-affiliated credit unions only. Visit MnCUN’s RateWatch page to view average rates in your local market for a variety of products. Rates are updated on a weekly basis.

MnCUN to host Compliance Update webinar

As one of the most heavily regulated industries in the business world, credit unions face numberous compliance challenges. The Network is offering a Compliance Update webinar on Thursday, Sept. 22, to help credit unions navigate current compliance requirements and stay up-to-date on changing regulations.
Led by MnCUN’s compliance experts, this half-hour webinar will provide participants updates on recently-enacted and pending compliance and regulatory changes that may affect credit union operations. Participants will receive insight into new and upcoming regulatory actions, investigate proposed rules and discuss issues that are out for comment.
For more information and to register for the Compliance Update webinar, visit the Event Calendar section of the Network website.  

Farmer Mac to host free agricultural lending conferences

 Minnesota credit unions are invited to attend a free half-day conference hosted by Farmer Mac. Set for Thursday, Sept. 22, in Owatonna and St. Cloud, these events will offer attendees lending tools, tips and information.
During the conference, credit unions will have the opportunity to network with other lenders and discuss agricultural credit and secondary market loan originations. Explore tools to grow the credit union’s member base and discover ways to offer innovative agricultural loan products. Other agenda items that will be covered include:
  • Recognizing eligible borrowers and properties;
  • Loan products and pricing;
  • Appraisals and title work;
  • Portfolio management;
  • Case studies;
  • Farmer Mac II update; and
  • Marketing Farmer Mac to your producer.
While the conference is free, pre-registration is required. For additional information and to register online, visit the Event Calendar section of the Network website. With questions, contact Farmer Mac representative Betsy Urso by email or at (800) 879-3276, ext. 5540.  

Save the date for MnCUN 2012 conferences

MnCUN has set the dates for its 2012 conferences. These main events are focused on providing credit union professionals and volunteers opportunities for education, networking and legislative advocacy.
MnCUN’s 2012 conferences include:
  • Western States Volunteers Conference – Feb. 11-14: Geared toward volunteers, this conference explores the intricacies of volunteer roles and discusses issues facing credit unions today.
  • Credit Union Day at the Capitol – Feb. 16: 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) – March 18-22: 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.
  • MnCUN Annual Meeting & Convention – April 13-14: The Annual Meeting features MnCUN’s Business Meeting, along with educational sessions, networking opportunities, a tradeshow and entertainment.
  • MnCUN Fall Conference – Sept. 7-9: Held at Madden's Resort in Brainerd, this conference offers a weekend filled with educational sessions, entertainment and recreation.

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

Products and service resources available on MnCUN’s website

Credit unions searching for additional products and services to offer members can turn to the Network website for information. The Network Service Corporation (NSC) section of the Network website serves as credit unions’ go-to source to investigate endorsed vendors that are dedicated to serving credit unions.
On the website, credit unions can peruse information on companies that offer credit union products and services. Learn more about each company’s niche in the financial services industry and find contact information. Additionally, visitors can discover the benefits offered through Shared Branching and investigate the member share draft and deposit services provided by MnIPC.
For a full overview of NSC's products and services, visit the Network Services Corporation section of the Network website. With questions, contact MnCUN Vice President – Network Service Corporation John Ferstl by email or at (651) 288-5505.

Credit union notes…

  • Heart of the Lakes Credit Union recently announced that it will merge with Central Minnesota Credit Union on October 1. The merged credit unions will have more than $600 million in assets and will serve members throughout 13 counties in central Minnesota. In conjunction with the merger, Heart of Lakes President Harold Siirila will retire as planned after 36 years of service with the credit union.

1,000+ credit unions help Alloya reach its capital goal

On Aug. 31, Alloya Corporate Federal Credit Union exceeded the minimum capital subscriptions required to move forward. In order to operate a viable business model, Alloya’s Private Placement Memorandum (PPM) called for a minimum of $70 million in contributed capital to be raised by the end of August.
In just three and a half months, Alloya raised $71 million, and additional capital contributions are expected. Alloya currently has more than 1,000 subscribed members, which will make it the largest corporate credit union in terms of membership in the country.
Alloya’s Charter Advisory Group voted unanimously to move forward and has formally requested NCUA to consider for approval Alloya's charter and merger application with Members United Bridge. It is expected that the NCUA will act on those applications at its September board meeting. 
Credit unions considering Alloya can still act to capitalize and join under the terms of their PPM through October 2011. For more information, please visit the Alloya Corporate Federal Credit Union website.  

CUDL Lending Solutions Seminar set for Sept. 28-29

Credit unions are invited to attend CUDL’s Lending Solutions Seminar on Sept. 28-29, which will include opportunities for learning, networking and fun. This executive-level event will feature a presentation on the latest product offers from CUDL and its partners, an outing at a Minnesota Twins game and the opportunity to participate in Credit Union Day at the Auction.
The seminar will begin the afternoon of Wednesday, Sept. 28, with a Solutions Presentation focused on providing credit unions information on the latest loan origination systems, lending best practices, superior portfolio analysis and more. Attendees will then have a chance to network as they attend the Twins’ final home game of the season. On Thursday, Sept. 29, credit union executives will attend a live auction and see firsthand how CUDL’s partnership can increase returns on repossessed vehicles.
Geared toward CEOs, CFOs, COOs, Vice Presidents of Lending and Collections Managers, this event is not to be missed. To register, complete the Lending Solutions Seminar registration form by Wednesday, Sept. 21. With questions contact, CUDL representative Cory Kadela or MnCUN Director of Business Development Vickie Ganrude

Calendar of Events

 The Minnesota Credit Union Network offers a variety of educational opportunities for credit union professionals and volunteers. Check out the roundtables, telecourses and webinars available. In addition, professionals and volunteers are invited to attend the Network’s fall educational events which include Financial Management School, Supervisory Committee Workshops and Lending School.
  • Sept. 12 (10 a.m.): TeleCourse – Growing Loans 10%
  • Sept. 12 (2 p.m.): Webinar -- Assessing the Debit Interchange Rule Impact
  • Sept. 13 (2 p.m.): Webinar – ACH Risk Assessment
  • Sept. 14 (12 p.m.): MnCU4Kids Committee Meeting
  • Sept. 14 (12:30 p.m.): Commerce Department Anti-Money Laundering Seminar
  • Sept. 14 (2 p.m.): Webinar – Strategic Planning
  • Sept. 15 (10:30 a.m.): Roundtable – Compliance/Fraud
  • Sept. 15 (5:30 p.m.): Hiawatha Chapter Meeting
  • Sept. 20: MnCUN Hike the Hill
  • Sept. 21 (10 a.m.): Interactive Forum – Marketing Post-Recession
  • Sept. 21 (10 a.m.): TeleCourse – Post-Recession Marketing Tips
  • Sept. 21 (2 p.m.): Webinar – FACTA Risk-Based Pricing Audits
  • Sept. 22 (9 a.m.): Farmer Mac Lending Conference
  • Sept. 22 (10 a.m.): TeleCourse – Account Administration
  • Sept. 22 (10:30 a.m.): Roundtable – Commercial Lending
  • Sept. 22 (2 p.m.): Webinar -- Compliance Update
  • Sept. 22 (2 p.m.): Webinar -- Electronic Banking & Accountholder Authentication
  • Sept. 26: MnCUN Financial Management School: Parts III & IV
  • Sept. 27 (2 p.m.): Webinar – Managing Data Leaks & Hacking Threats
  • Sept. 28 (10 a.m.): TeleCourse – Hiring & Interviewing Techniques
  • Sept. 28 (2 p.m.): Webinar – Fair Lending Issues


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

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