The Pulse (01-21-15)



The Pulse (01-21-2015)

January 21, 2015 ● Volume 04, Issue 3


The Pulse Archive

Credit Union News


Revised Risk-Based Capital proposal released at NCUA’s Board Meeting

The National Credit Union Administration Board (NCUA) released the revised risk-based capital (RBC2) proposal at its meeting on Jan. 15.

A few of the significant revisions to the proposal include: 

  • Raising the complex credit union (those credit unions subject to the rule) threshold from $50 million to $100 million.
  • Reducing the well-capitalized minimum ratio from 10.5 percent percent to 10 percent.
  • Removing interest-rate risk from the risk weights.
  • Eliminating the cap on the ALLL account.
  • Including goodwill and other intangible assets in the calculation under certain circumstances for a limited time.
  • Adjustment to the concentration levels for commercial loans.
  • Differentiation between risk weightings for secured and unsecured consumer loans.

In addition, the proposed implementation date is Jan. 1, 2019. The revised risk-based capital proposed rule can be found on NCUA's website.

The following summary documents were provided by NCUA at the meeting and are available on the Network's Risk-Based Capital proposed rule resource webpage

The following are additional resources that you may find helpful:

The comment period is anticipated to be 90 days from the date of publication in The Federal Register; although approved at the January meeting, there will be an additional period of time between the NCUA board meeting and the publication date.

These changes were not possible without the efforts of CUNA, the leagues and the Minnesota credit unions that submitted thirty-six comment letters on the original proposal. The Network thanks all of you who took time to comment on the proposed rule. The Regulatory Review Committee will be meeting on this proposal in the near future to formulate the Network’s comment letter. The Network will provide a template of our comment letter to our member credit unions to use for their own comments. 

We will also continue to monitor developments on the RBC2 rule and will be updating the Network’s Risk-Based Capital Resource page, in addition to providing periodic updates in The Pulse.



Credit Union Day at the Capitol – registration ends tomorrow

With more than 1.6 million members, credit unions are an important cog in the financial services marketplace and are recognized as local, trusted financial institutions that provide tremendous benefits to the communities they serve. Help us share with legislators from both parties in the State House and Senate that Credit Unions are Minnesota Minded!

Credit Union Day at the Capitol attendees will begin the day hearing critical legislative updates and receiving first-hand knowledge from key legislators about the 2015 Legislative Session. The event will include visits to the State Capitol to meet with representatives and senators to discuss issues important to credit unions. Lastly, attendees will conclude the day with a late-afternoon reception that will provide the opportunity to network with other credit union professionals and volunteers.

  • Webinar – Insider’s Look at 2015 CU Day at the Capitol
    Thursday, Jan. 22 (10-10:30 a.m.)
    Prior to Credit Union Day at the Capitol, MnCUN will be hosting a free pre-event webinar. This half-hour session will ensure credit union professionals get the most out of this legislative event. 

  • Keynote Speaker: Mary Lahammer
    Mary Lahammer has been a program host and political reporter for Twin Cities Public Television since 1998. She has won several Emmys and numerous other awards in several states for her anchoring, reporting, producing and photography. Lahammer was named one of the best Capitol reporters in America by the Washington Post, “Best TV Reporter” by Minnesota Monthly and “Best Newscaster” by City Pages Magazine.

  • The Crew at the Capitol
    Participants of The Crew, MnCUN’s networking group designed for young credit union professionals 35 and under, have an exclusive opportunity at the 2015 Credit Union Day at the Capitol. Learn insights from young legislators and hear their perspectives on politics, effective advocacy, and their experiences and motivations in running for office. All young credit union professionals are invited to attend this exclusive event!

For more information, visit the Credit Union Day at the Capitol page of the Network website. With questions, contact MnCUN Director of Education Sue Groskreutz by email or by phone at 651-288-5521.


MnCUN’s Cummins notes federal political action committee’s banner election cycle


The Credit Union Legislative Action Council (CULAC) ended the 2013-2014 election cycle with a record setting $4.43 million in receipts. CULAC finished 2013-2014 13 percent ahead of the 2011-2012 total of $3.9 million.

CULAC is the Political Action Committee (PAC) for the Credit Union National Association (CUNA), charged with supporting credit union-friendly candidates running for federal office. CULAC deployed direct mail and television, radio and online advertisements for candidates on a bipartisan basis. In stark contrast to several other PACs, all of CULAC’s campaign communications were positive and focused solely on the candidate being supported.

“The work CULAC does to support credit union-friendly candidates is critical to the credit union system,” said CULAC chairman and President & CEO of the Minnesota Credit Union Network (MnCUN) Mark Cummins. “I am proud of the 2013-2014 election cycle we had and thank each of the state credit union trade associations for their contributions to the success CULAC has on federal elections.”

Gross receipts of $2.28 million in 2014 means CULAC is starting the 2015-2016 election cycle with more than $464,000 available. Nearly $6 million was spent on the midterm elections by CUNA and CULAC, including more than $3 million in direct contributions in 396 races, with a record 96 percent success rate.

“We’re proud the credit union system was able to create a credit-union friendly majority in both the House and Senate,” said Jim Nussle, President and CEO of CUNA. “We are removing barriers by electing members on both sides of the aisle who are friends of credit unions, and the bipartisan makeup of our support demonstrates the strengths of the credit union movement.”

With questions about the Network's political advocacy efforts, contact MnCUN Political Advocacy Director Ryan Smith by email or call (651) 288- 5533.


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 Awards. These awards, presented each year 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, individuals 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? Check out five reasons why you should nominate this outstanding co-worker or volunteer.

  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 them 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 professional or volunteer 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 this outstanding professional or volunteer 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 April 10-11, 2015, at Radisson Blu Mall of America, Bloomington.      

For more information about these awards and to download nomination forms, visit the 2015 Professional & Volunteer of Year Awards page of the Network website. Nominations are due Friday, Feb. 6.


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.  


Royal CU assists VITA with tax return assistance to qualified taxpayers


United Educators CU’s MoneyIsland teaches kids financial life lessons


SharePoint CU, Financial One CU and DAV of Minnesota donate 250 coats to veterans




Credit unions encouraged to follow important legislative issues online 

Program quickly and securely supports effective advocacy

View all Governmental Affairs news stories


NCUA releases Board Action Bulletin 

NCUA releases January NCUA Report 

NCUA to host webinar on revised risk-based capital rule today

NCUA to host CFPB Dir. Cordray at Town Hall 

US Supreme Court upholds Eagan couple’s mortgage rescission

CFPB releases application for Credit Union Advisory Council 

Have compliance questions? Contact us.

View all Regulatory Compliance news stories







Time to talk about TurboTax

The TurboTax program is in full swing. Marketing the program early to your members will allow them to take full advantage of the great savings on TurboTax federal products. 70 percent of online tax filers file their returns between Jan. 15 and Feb. 5, don’t let your members miss out on the great TurboTax discounts, start marketing now.

The Love My Credit Union Rewards program provides free marketing materials to all credit unions to assist you in communicating the TurboTax discounts to your members. The marketing materials are available in the Partner Center at

Below are some helpful tips on the most effective ways to market the TurboTax program to your members and fulfil your marketing requirements:

  1. Post TurboTax web banners on your website home page and online banking pages. Free standard-size banners are available in the Partner Center of
  2. Send dedicated emails to members the week of January 22nd and the week of February 5th. Free HTML email templates are available in the Partner Center for you to send to your members. CU Solutions Group also provides free services to credit unions to assist you in sending emails to your members. Click here to request our help in sending emails.
  3. Include newsletter articles in electronic and printed member communications. Newsletter messaging is also available in the Partner Center. There are short messages and long messages available to promote the program to your members.
  4. In-branch posters and take-ones. 8 ½” x 11” posters in acrylic stands are available to all credit unions to post in your branches, along with take one flyers for your members. Request your lobby materials today.

Additional marketing materials available for the TurboTax program include:

  • Statement inserts and e-statement onserts
  • Social media messaging
  • Mobile app banners

Not enrolled in the TurboTax program? It’s not too late! Click here to enroll online today and find out more about the benefits of the program.

With questions about Love my Credit Union Rewards, contact MnCUN Director of Business Development Vickie Ganrude by email or at (651) 288-5515.













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 

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

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