The Pulse (02-05-14)

The Pulse (02-05-14)

Feb. 5, 2014 ● Volume 3, Issue 5

The Pulse Archive

Credit Union News

Show Legislators that Minnesota credit unions are connected to the community

The 2014 Credit Union Day at the Capitol is scheduled for Thursday, March 13. CU Day provides credit unions the opportunity to meet and build relationships with the state's elected officials.

Credit Union Day brings credit union professionals and volunteers together to spread the credit union message among lawmakers. Attendees will receive critical legislative updates and first-hand knowledge from elected officials about the 2014 Legislative Session, which begins on Feb. 25. The event will culminate with visits to the State Capitol to meet with representatives and senators to discuss relevant credit union issues. Attendees will conclude the day with a late-afternoon reception that will provide the opportunity to network with other credit union professionals and volunteers from around the state.

Join us at Credit Union Day at the Capitol on March 13, to remind legislators that Minnesota credit unions are connected to the community. Discounted registration now available! For more information about this event and a recap of the 2013 event, visit the Credit Union Day at the Capitol page of the Network website.

Minn. Department of Commerce Commissioner Mike Rothman wins national Desjardins award

Last week, the Credit Union National Association (CUNA) awarded Minnesota Commerce Commissioner Mike Rothman the Desjardins Financial Education Award for State Government Policymakers.

The award, which is determined by the Credit Union National Association State Credit Union Subcommittee, recognizes the leadership for financial education at the state level.

In his nomination letter, Minnesota Credit Union Network President and CEO Mark D. Cummins commended Rothman's efforts to bring together 10 state agencies that had existing programs, outreach or policy interests in financial literacy. The Minnesota Financial Literacy Interagency Work Group was the first of its kind in the state. The Work Group stemmed from the recommendations developed out of the inaugural Financial Literacy Roundtable organized by Commissioner Rothman and held at the Department of Commerce in April 2011. Stakeholders from over 60 organizations representing the non-profit, business, education, government, and banking sectors gathered to advise Commissioner Rothman on what the Department of Commerce could do to support ongoing efforts to advance the cause of financial literacy in Minnesota.

During Financial Literacy Month, the Minnesota Financial Literacy Interagency Work Group sponsors and organizes outreachand education events. Collaboratively, the Work Group also convenes an annual Financial Literacy Roundtable, including more than 200 stakeholders from non-profits, schools, local governments, private enterprises, and financial institutions. The focus of the Roundtable is to engage in constructive dialogue, and pursue new opportunities for financial literacy program development and improvement.

"Commissioner Rothman has been a tireless advocate for financial literacy in Minnesota since he was appointed Commerce Commissioner in 2011," Cummins wrote.

CUNA's State Credit Union Subcommittee accepts nominations for this recognition annually. This year, Rhode Island General Treasurer Gina Raimondo also received the Desjardins Financial Education Award for State Government Policymakers.

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

MnCUN is now accepting nominations for two of its most prestigious awards – 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. Credit unions are encouraged to nominate a staff member, board member or colleague.

Nominations are due to 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 Kuhn by email or at (651) 288-5527.

Young professionals – Mark your calendars!

Calling all young credit union professionals with a passion for credit unions and a dedication to the movement! The Minnesota Credit Union Network invites you to mark your calendars for this year's Crew events.

The Crew is a credit union networking group made up of mid-level, young credit union professionals who are looking for the opportunity to grow in their career. This group is geared toward those new to the credit union movement or those who want to establish themselves in their profession. Crew members will learn about the credit union industry, explore options for advancement, and network with other young professionals.

The Network is excited to announce its lineup of Crew events for the year. The majority of these events are held in conjunction with MnCUN's major credit union conferences. Members receive discounts off the conference admission price and have special access to speakers, legislators and other key credit union leaders. This year's events include:

  • March 13– Credit Union Day at the Capitol, Saint Paul RiverCentre (specific Crew programming included) REGISTRATION IS OPEN!
  • April 25 & 26– Annual Meeting & Convention (specific Crew programming included)
  • Aug. 7– Roundtable & Webinar "Managing for Ultimate Performance: The 6 Building Blocks for Success”
  • Nov. 5– Crew Roundtable & Networking Opportunity

Additional MnCUN & Industry Events

  • May 5-7– Financial Principles & Business Planning with Jim Aho
  • June 9-11– Hike the Hill in Washington, D.C.
  • Sept. 5-7– Fall Conference Madden’s Resort, Brainerd
  • Sept. 15-17– Building Relevancy through Strategic Planning with Jim Aho
  • Oct. 15– CUNA Mutual Discovery Conference (Online & Free)

In addition to the events outlined above, MnCUN offers a comprehensive slate of live webinars and on-demand webinars, as well as in-person roundtables, based on various departments within credit unions such as Business Development/Marketing, Commercial Lending, Collections, Compliance/Fraud, and Trainers.

To learn more about this networking group, visit The Crew page of the Network website. With questions or add your name to the Crew database, contact Crew liaison Lindsey Evans by email or at (651) 288-5535.

National Credit Union Youth Week set for April 20-26

Join the movement in celebrating credit unions in April by coordinating activities during National Credit Union Youth Week on April 20-26!

This year’s theme is "Catch the $ave Wave™” and it harnesses the fun of sunny beaches and surfing to engage younger members and potential members with their credit union. The goal of Youth Week is to pave the path to life-long credit union membership by encouraging kids to set up savings accounts, learn how to manage money, and be more financially literate.

Credit unions nationwide may join in the celebration all through April, or just during National Credit Union Youth Week, by encouraging youth to set up savings accounts and learn how to manage money. By focusing on potential younger members, participants will have the opportunity to lower their age demographics, while increasing the loyalty of parents.

For official National Credit Union Youth Week art, articles, and celebration materials, visit the National Credit Union Youth Week page on CUNA’s website. For the latest information on Youth Week, credit union staff may sign up for the free Youth Week e-Newsletter or follow @CUYouthWeek on Twitter.


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.


Obama Touts Wage Hike, Creates 'myRA' Savings Plan
(KSTP-TV © 01/29/2013)

Advisors Explain Financial Success to Employees of Camp Ripley
(Brainerd Dispatch © 01/29/2014)

Robotics Program Started for Junior High Students
(East Central Minnesota-The Post Review © 01/29/2014)

Congress holds data security hearings this week

MnCUN testifies on mandatory mediation requirement

Reminder: less than one week left to register for GAC


NCUA Technical Assistance Grants available to low-income credit unions

USPS considers providing non-bank financial services to underserved

Federal Reserve Financial Services announces address change for paper filings

HUD updates foreclosure brochure for delinquent FHA loans

HUD releases guidance on manually underwritten loans

FHA to accept e-signatures on some loan documents

SPOTLIGHT: Risk-based capital rule proposed


NCUA Issues Letters to Credit Unions

Letter No. 14-RA-06: HMDA Data Collection Asset Threshold for Calendar Year 2014

    Minnesota Credit Union Network
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    St. Paul, MN 55102

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