The Pulse (01-20-16)



The Pulse (01-20-2016)

January 20, 2016 ● Volume 05, Issue 3


The Pulse Archive

Credit Union News

Membership deadline approaches Jan. 31

MnCUN membership packets were mailed to all Minnesota credit unions in mid-December. Packets included dues invoices, CUNA and MnCUN's Power of Association information, and details about the additional funds for 2016. Membership renewal should be completed by Jan. 31. We value your continued trust in us. With questions about your membership with the Network, or for a copy of your invoice, please contact John Wendland


Home Depot data breach conference call to be held today

Today, co-lead counsel for the financial institutions in the Home Depot data breach litigation (Gary Lynch, Kenneth Canfield, Joseph Guglielmo) will be hosting a conference call to discuss alternative recovery offers (ARO) that may have been received from Visa regarding the Home Depot Litigation. The call will provide an update about the Home Depot/Visa settlement, its present and future legal implications, and to answer any questions. The conference call will be at 1 p.m.


According to counsel, the compensation offered by the Visa AROs falls short of the losses sustained by financial institutions as a result of Home Depot’s breach. Further, in exchange for entering into a settlement, financial institutions would also be required to release their claims in the litigation and forfeit additional opportunity for further reimbursement. As a result, counsel is advising against acceptance of any ARO, as financial institutions will remain eligible to receive compensation from Visa’s Global Account Compromise Recovery card recovery processes.


Call-in information is as follows: (844) 286-3346; Code: 27507657. With any questions, counsel can be reached by email.


2016 MnCUN Annual Conference registration open

The Minnesota Credit Union Network provides educational sessions and networking opportunities each year through a slate of major events. In 2016, Credit Union Day at the Capitol and Annual Meeting & Convention have been combined into the 2016 MnCUN Annual Conference.

  • March 30: Legislative Visits, Radisson Blu Mall of America 
    This advocacy day provides crucial information about state political issues relevant to credit unions and offers the opportunity to build relationships with the state’s elected officials. The day will include a legislative briefing and luncheon at the Radisson Blu Mall of America with transportation provided to and from the legislative visits.
  • March 31-April 1: Annual Meeting & Convention, Radisson Blu Mall of America 
    These 2 days will feature exciting educational sessions, networking opportunities, the MnCUN Business Meeting, an exhibit hall, FIC silent auction, MnCU4Kids event and more. In response to feedback from member credit unions, MnCUN has moved its annual meeting to a Thursday through Friday format.

Complete event details are available online in the 2016 MnCUN Annual Conference section of the Network website. This section contains a schedule of events, lodging information, prices and online registration.  Register before March 9 to receive early bird pricing!


With questions about the conference, please contact MnCUN VP & General Counsel John Wendland by email or by phone at (651) 288-5519 or (800) 477-1034.



Know an outstanding co-worker or volunteer? 5 reasons you should nominate them!

The Minnesota Credit Union Network is now accepting nominations for the Outstanding Professional and Volunteer of the Year, and the Simon Hellermann Philanthropy Awards. These awards, presented during the MnCUN Annual Meeting & Convention, recognize notable people who have distinguished themselves in their efforts to better their credit unions and promote awareness of the credit union movement. To be eligible to receive these top honors, those recognized must be nominated by colleagues.

Do you know a credit union employee or volunteer who is passionate about what they do and goes above and beyond in their support of credit unions? Do you know an individual, credit union, group or chapter that has made an outstanding contribution to a humanitarian cause? Check out five reasons why you should make a nomination.

  1. Say "thank you” in a big way. What better way to say "thanks" for a job well-done than with an award that recognizes a colleague for their dedication to the credit union.
  2. Co-workers and volunteers love a pat on the back. People like to know that what they do matters. Show your colleague that their hard work hasn't gone unnoticed.
  3. Give them a lasting tribute. As part of this award recognition, the award winners will receive a tribute video featuring their peers talking about the great work they've done. This video will be shown during an awards presentation at the MnCUN Annual Meeting & Convention.
  4. Make their legacy known. Tell the rest of credit union land about outstanding efforts and set the bar high for what others in the credit union movement can accomplish.
  5. Honor them in front of family, friends and peers. Friends and family are invited to join the award recipients for a banquet and awards presentation during MnCUN's Annual Meeting March 31 – April 1, at Radisson Blu Mall of America, Bloomington.      

For more information about these awards and to download nomination forms, visit the 2016 Professional & Volunteer of Year Awards page of the Network website. Nominations are due Friday, Feb. 5.

With questions about these awards programs, contact MnCUN Director of Communications Andrea Molnau by email or at (651) 288-5527.


Minnesota Credit Union Foundation offering professional development grants

The Foundation apportions 25 percent of its annual budget to fund professional development grants for credit union staff and volunteers to further their education and knowledge of the credit union industry. Credit unions can apply for grant funding in any amount using the Foundation’s standard grant application, which are accepted on an on-going basis.

Examples of program opportunities which may qualify for professional development grant funding include:

Credit unions meeting specific criteria can apply for expedited approval through the Small Credit Union Grant Program. For more information, see the Professional Development Grants page on the MnCUF website.  


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 Communications Specialist Laura Whittet


MnCUN President & CEO, AACUL Chair Cummins shares goals for 2016

View all Governmental Affairs news stories


NCUA publishes Board Agenda for January meeting

NCUA Chairman Matz, CFPB Director Cordray to host Town Hall webinar

CFPB offers TRID compliance assistance re: construction loans

Request MLA database access for identifying military borrowers by Feb. 1

NCUA issues Regulatory Alerts

Regulatory Alert 16-RA-01: HMDA data collection requirements for 2016  

NCUA issues Letters to Credit Unions

Letter No. 16-CU-02: Online CUSO Registry Open for Registrations in February


View all Regulatory Compliance news stories


Register now for The Baker Group’s Quarterly Conference Call

Members of the Minnesota Credit Union Network are invited to register for The Baker Group Quarterly Conference Call, Credit Union Investment Strategies for 1st Quarter 2016, scheduled for 11 a.m. Wednesday, Jan. 20.

The conference call will focus on the following topics:

  • A New Year, New Rate and New Tools: Fed Policy in Transition
  • Yield Curve Behavior: What's the Market Telling Us?
  • Interest Rate Risk: Data Review and Thoughts for the Year Ahead
  • Evaluating Short Duration Alternatives: Are They Worth It?
  • Revisiting 10-Year AMs as The Fed Tightens and Curve Flattens

Click here to register for The Baker Group’s Quarterly Conference Call.

If this describes you, then you are invited to join The Crew. This group 
If this describes you, then you are invited to join The Crew. This group 

 Joanna Drennen
 Nathan Dormody

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

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