The Pulse (01-15-14)
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The Pulse (01-15-14)

Jan. 15, 2014 ● Volume 03, Issue 2


The Pulse Archive

Credit Union News


Quick clicks to explore MnCUN's member services

As a dues-paying member of the Minnesota Credit Union Network, we thank you for your involvement and support. To ensure that you are aware of all that MnCUN has to offer and to make the most of your membership, credit unions are encouraged to take a deeper look at the Network's core areas of focus as listed below. Follow the headline links for additional information!

Governmental Affairs
The Network's governmental affairs department works to pass policy provisions to strengthen credit unions' charters, defend credit unions against adverse legislation, and positively position credit unions in the political arena through grassroots activities. Credit union staff, volunteers and members are sought to participate in grassroots activism through GREAT, as well as through political fundraising and a variety of programs and events. Governmental affairs news is shared with member credit unions each week through The Pulse e-newsletter. Individuals that have a password to the Network website can access MnCUN's issues & talking points briefs, track credit union-related bills as they progress through the state Legislature, and download the best-practices fundraising guide.

Regulatory Compliance
MnCUN's legal department is the primary source for information on compliance-related issues that affect the credit union movement. Staff works with and receives information from the Minnesota Department of Commerce, NCUA and CUNA to provide the most current information on federal and state laws and regulations that affect credit unions. This department fields thousands of questions per year, assisting with general compliance information on topics including lending regulations, anti-money laundering guidelines, bankruptcy, collections, employment issues and more. Additionally, compliance staff publish several guides each year, post FAQs and comment letters, and offer fee-based auditing services to member credit unions. 

The responsibility of the Network's communications department is to keep all of Minnesota's affiliate credit unions informed of the latest news and events affecting the credit union movement. Through newsletters, email alerts, press releases and the website, the Network places information at your fingertips. This department maintains relationships with media sources around the state and country to ensure that the credit union voice is heard on a variety of issues. Communications staff also collects published stories, press releases and summaries of news from credit unions. When MnCUN receive these stories, staff works to create a cycle of news that amplifies the message of credit unions and shares the credit union difference in a variety of ways – with your peers through our website and newsletters, on social media, with legislators and public opinion leaders, and with the media.

MnCUN is dedicated to providing credit unions the training and resources they need to grow and thrive in today's financial environment. Understanding the value of ongoing learning and training, the Network's full slate of offerings encompasses a wide variety of topics applicable to staff throughout the credit union. The education department coordinates multi-day conferences, half-day workshops and seminars, and focused departmental roundtables, along with virtual training through webinars, both live and on-demand. MnCUN also has a networking group for young credit union professionals, known as The Crew.

Products & Services
Through the Network Service Corporation (NSC), credit unions have access to a variety of products and services provided by a number of strategically-selected organizations. The Network offers a full slate of fee-based consulting services to credit unions, including compliance and audit consulting, strategic planning, board education, credit union training and more. In addition, the products & services section of the Network website provides information about Shared Branching opportunities, CUNA Strategic Services, Minnesota Item Processing Corporation, and participants of MnCUN's Vendor Involvement Program.

With questions about the Network, please visit the contact us page of the Network website, or direct inquiries to MnCUN Vice President – Association Services Kristina Wright by email or phone at (651) 288-5507.


Credit unions welcome new presidents

The new year marks the beginning of new leadership for two Minnesota credit unions.

  • Chris Goebel (Soo Line Credit Union) – Goebel, a 23-year credit union veteran, started his career at Richfield Bloomington Credit Union and most recently served as Controller of Anoka Hennepin Credit Union. He previously served as President/CEO of Catholic United Financial Credit Union from 2003-2007. Goebel begins his new position on Jan. 21, and he succeeds Lee Benedict, who is retiring.
  • Tom Smith (TopLine Federal Credit Union) – Smith has more than 21 years as an executive in the financial services industry. He has been part of the TopLine senior management team since 2008 when he joined the credit union as Vice President & Chief Lending Officer. Smith started his new position Jan. 1, and he succeeds Harry Carter, who retired at the end of December.


Nominate an outstanding colleague for MnCUN’s Professional & Volunteer awards

MnCUN is now accepting nominations for two of its most prestigious awards! Now is your chance to nominate a colleague for the Outstanding Professional of the Year or Outstanding Volunteer of the Year.

  • Outstanding Professional of the Year recognizes the notable service of one outstanding credit union professional who has selflessly given time, effort and talent to the support and promotion of the credit union mission and who has gone above and beyond to improve the credit union culture in Minnesota.

  • Outstanding Volunteer of the Year is given to one extraordinary credit union volunteer who best exemplifies the credit union spirit through dedication to, and belief in, the credit union movement. Grounds for nomination include involvement in the credit union movement at local and state levels and participation in other activities that support the credit union mission.

Presented on an annual basis, the Professional and Volunteer Awards showcase dedicated service and professionalism of credit union staff and board members for their work over the previous calendar year. The winners of these awards are recognized during the Minnesota Credit Union Network Annual Meeting & Convention, which takes place April 25-26, 2014. Honor what makes your coworkers special! Consider nominating a supervisor, CEO, colleague or volunteer for these awards.

Nominations for both awards must be received by the Network by Friday,Feb. 21.Complete information and online nomination forms can be found on the Recognition Awards page of the Network website. Please note that only nominations completed using the online forms will be accepted. With questions about these awards programs, contact MnCUN Director of Communications Connie Kuhnby email or at (651) 288-5527.


NCUA offers free webinars

Throughout the course of the year, the National Credit Union Administration (NCUA) hosts a variety of educational sessions to speak to credit union on topics pertinent to the industry. Below are the two most recent events announced by NCUA.

NCUA will host a free webinar on "Examination Modernization,” on Wednesday, Jan. 22, at 1 p.m. central time. During this webinar, speakers will provide an overview of the changes NCUA made to streamline and improve the consistency of the examination report process. This webinar provides participants with an opportunity to get a better understanding of the new procedures related to Documents of Resolution and the examination report. 

NCUA Board Chairman Debbie Matz will host a free town hall webinar with Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB), on Wednesday, Feb. 12, beginning at 2 p.m. central time. This free webinar will provide updates on current initiatives by both agencies. 


Credit Unions in the News

Follow the links on the stories below to read more about the outstanding programs, new initiatives and well-deserved recognition received by your peers recently. Got news of your own? Send stories, pitches, press releases and published articles to MnCUN Director of Communications Connie Kuhn.



MnCUN analyzes impact of potential bills

On Monday, Jan. 13, State Representatives introduced nearly 300 bills under a provision that allows for bill introductions in the House between the final day of the regular session in an odd-numbered year and the first day of the regular session in an even-numbered year. Pre-filed bills are numbered and may be unofficially referred to standing House committees.

All 280 bills, on subjects as diverse as taxation and allowing Sunday liquor sales, were proposed and sent along to committees for discussion. Once referred to a committee, a bill can be debated but no formal action may occur until the Legislature formally convenes at the end of February. In the interim though, the week of Jan. 27 has designated as the time for committees to meet and discuss bills.

Network staff is pouring through all of the bills to analyze their potential impact on credit unions. For a full list of the proposed measures, please click here. The Legislature gavels into session on Feb. 25 and is constitutionally required to adjourn no later than May 19.



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

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