The Pulse (03-17-16)



The Pulse

March 17, 2016 ● Volume 5, Issue 11.5


The Pulse Archive

Minnesota Item Processing Corporation Partners with OnApproach to Leverage Data for Credit Unions of all Sizes 

Minnesota Item Processing Corporation (MnIPC), a wholly-owned subsidiary of the Minnesota Credit Union Network, is pleased to announce a new partnership with OnApproach, a leading provider of Big Data and Analytics solutions for credit unions. Through the partnership, MnIPC will offer OnApproach solutions to clients in both hosted and service-bureau environments.


“Harnessing ‘Big Data’ for analytics is a mega trend everyone is watching. But actually applying this to everyday operations, particularly for small to mid-size credit unions, can be challenging from both a budget and implementation standpoint,” said John Ferstl, Vice President of the Minnesota Credit Union Network Service Corporation. “MnIPC will be applying the cooperative model to big data through the OnApproach solutions, which will not only allow more credit unions to participate, but also offers opportunities to aggregate data on a wider basis.”


"The credit union industry is facing into some very tough disruptive forces fueled by advances in mobility and unprecedented volumes of data. Today, the vast majority of the U.S. credit union market lacks the resources and infrastructure to access the full potential of Big Data through Analytics. To solve this problem, OnApproach has developed a technology solution that will work for any credit union, regardless of their size or system configuration. We are thrilled to partner with MnIPC to bring our analytic solutions to more credit unions," said Paul Ablack, CEO, OnApproach.


OnApproach is a CUSO that focuses on providing credit unions with the power to use data as a competitive advantage both independently and cooperatively.  With OnApproach, credit unions can now harness the value of Big Data/Analytics through integration, advanced reporting, and predictive analytics.  This deeper understanding of data allows credit unions to discover vital trends in member behavior, resulting in improved financial performance, reduced risk, and enriched relationships with members.


MnIPC has provided credit unions with a cost-effective processing facility for more than 30 years, and is a wholly-owned subsidiary of the Minnesota Credit Union Network. MnIPC works with credit unions across Minnesota and nationwide, providing a complete suite of processing services.


In Pursuit of the American Dream: an FIC education session at the MnCUN Annual Conference

On Friday April 1, the Minnesota Family Involvement Council (FIC) will present at the Minnesota Credit Union Network Annual Conference. This interactive, panel-based educational session will explore the complexities of attracting and engaging the youth as employees and members.


This session will include a youth focus group, and is based on the content of the 2015 FIC scholarship essays, which asked members for their interpretation of “the American dream”.


The FIC, a committee of the Minnesota Credit Union Foundation, strives to build credit union brand awareness and strengthen member relationships through its scholarship program. FIC Scholarships are available to all members of Network affiliated credit unions and are funded by the FIC Silent Auction held at the Network Annual Conference.


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



CIF investment supports financial education, Minnesota Credit Union Foundation

Credit unions can contribute to the Minnesota Credit Union Foundation (MnCUF) by investing in the National Credit Union Foundation's (Foundation's) Community Investment Fund (CIF). By investing in CIF, you help to expand the capacity of credit unions to serve members and communities, while earning a return for your credit union.

Credit unions investing in the CIF receive 50 percent of the dividend of their investment. The remaining 50 percent is distributed to the Foundation, half of which the Foundation returns, pro-rata, to the leagues or foundations of investment origin.

There are currently six partners that provide investment options for CIF. In addition to the Foundation’s general fund, there are four designated funds available to benefit specific programs for financial education, initiatives abroad, helping AACUC deliver on its promise, and support of the credit union Development Education (DE) training program.

For federal credit unions, a hybrid investment is also available in the form of a Charitable Donation Account (CDA) which permits expanded investment powers to fund charitable contributions.

For more information and investment options, see the National Credit Union Foundation’s CIF page.


NYIB debuts new website, new reporting with instructional webinar

The NYIB is a fantastic resource for credit union financial education professionals. In addition to their reporting tracking, they also offer a host of free resources in additional to a valuable annual conference. If you are new to NYIB, please visit their website and check out the video message from Chairman Juli Lewis about what is in store for 2016.


The National Youth Involvement Board (NYIB) is the only credit union organization that maintains standardized reporting of financial education presentations to youth in the United States. If you have not yet reported with NYIB, please consider checking out their new website, and register to report. This reporting of information is invaluable for our legislative advocacy and consumer awareness efforts, and demonstrating the credit union difference.


NYIB is hosting a webinar to go over all of the new reporting features on Monday, March 21st at 2:00 pm. To register, see NYIB’s registration page.



National Credit Union Foundation Releases Toolkit on CU Philanthropy & Foundations

The National Credit Union Foundation (the Foundation) recently released a new toolkit for credit unions, a Credit Union Philanthropy & Foundation Toolkit, to assist staff looking for information and resources about charitable and outreach activities, operating or starting their own foundation, and more.


This toolkit explores how credit unions are engaging in philanthropy, the resources available to credit unions, trends in starting credit union foundations, and some examples of different credit unions’ philanthropic endeavors. It also provides background on the philanthropic role and work of the National Credit Union Foundation and state credit union foundations, which credit unions can leverage in their own communities.


The toolkit is available to credit unions free of charge at Additional Foundation toolkits, on topics such as medical debt, non-prime auto lending, and more, are available online.


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