The Pulse (04-15-15)



The Pulse (04-15-2015)

April 15, 2015 ● Volume 04, Issue 15


The Pulse Archive

Credit Union News


MnCUN announces restructure

Recently, the Minnesota Credit Union Network (MnCUN) announced an internal reorganization in an effort to better serve its member credit unions as a more focused, strategic trade association.

As part of this restructure, John Wendland has been named Vice President & General Counsel. Wendland will be responsible for all dues-supported services provided by the Minnesota Credit Union Network. Wendland will oversee the Compliance and Education Departments. Mara Humphrey will continue in her position as Vice President – Governmental affairs but will now also oversee the Communications Department. John Ferstl will remain as Vice President – Network Service Corporation with the addition of  managing the Accounting and Information Technology Departments.

"The Network has made the strategic decision not to fill a senior management position,” said MnCUN President & CEO Mark Cummins. "This streamlined internal structure will allow your Network to contribute more resources to areas of major importance,”

For questions regarding the Network internal reorganization, please contact MnCUN President & CEO Mark Cummins by email or by phone at (651) 288-5501. 



Prominent speakers welcomed, board elected at Annual Meeting

The Minnesota Credit Union Network (MnCUN) held its Annual Meeting & Convention on April 10-11 at the Radisson Blu Mall of America. Nearly 400 credit union professionals and volunteers attended, representing 75 Minnesota credit unions and credit union service organizations from across the country.


The conference featured a number of prominent guests, including Joan Steffend, former KARE-11 reporter/anchor and HGTV network host of Decorating Cents, who served as master of ceremonies for Friday’s general session. Delivering the general session’s keynote address was Dr. Narayana Kocherlakota, President of the Federal Reserve Bank of Minneapolis, who spoke about employment trends and expectations about interest rates.

Other conference speakers included:

  • Larry Fazio, Director of the Office of Examination and Insurance for the National Credit Union Administration
  • Marketing and media expert Anthony Huey
  • Andy Janning, president and founder of NO NET Solutions
  • Lutheran Social Services Program Director Darryl Dahlheimer
  • Coopera CEO Miriam De Dios
  • Credit union industry consultant Jim Aho of Aho Consulting
  • Robert D. Branstine, Field Manager in the Midwest Region for the Consumer Financial Protection bureau (CFPB)

The conference also included a variety of education sessions, an exhibit hall and fundraising opportunities. The Family Involvement Council Silent Auction and Credit Unions for Kids blackjack tournament provided entertainment, and an Awards Breakfast hosted by former Paul Allen, the “Voice of the Minnesota Vikings,” on Saturday recognized the state’s top professional and volunteer credit union advocates. Allen also served as the keynote speaker for Saturday’s luncheon, and along with MnCUN President & CEO Mark Cummins, was officially knighted by Dan Stoltz, President/CEO of SPIRE Credit Union and this year’s King Boreas LXXIX of the St. Paul Winter Carnival. Stoltz also received MnCUN’s 2015 Professional of the Year award during the meeting.


Along with networking and education opportunities, conference attendees participated in the annual Business Meeting, which featured an overview of credit union accomplishments over the past year, as well as committee reports and Board elections.


This year three incumbents were re-elected – and one new member elected – to three-year terms on the MnCUN Board of Directors:

  • Chuck Albrecht, Mid-Minnesota Federal Credit Union in Baxter, was reelected to a seat for credit unions outside the Twin Cities metro area.
  • Mary Hansen, Mayo Employees Federal Credit Union in Rochester, was reelected to a seat for credit unions with more than 10,000 members.
  • Julia Havens, Riverview Credit Union in South St. Paul, was reelected to a seat for credit unions with less than 2,000 members.
  • Randy Willert, Two Harbors Federal Credit Union in Two Harbors, was newly elected to a seat for credit unions with 2,001-10,000 members.

The MnCUN Board also elected the following table officers:

  • Chairman Chuck Albrecht of Mid-Minnesota Federal Credit Union, Baxter
  • Vice Chairman Kelly McDonough of First Alliance Credit Union, Rochester
  • Secretary/Treasurer Dan Stoltz of SPIRE Credit Union, Falcon Heights 

“The Annual Meeting gives Minnesota credit unions the opportunity to celebrate our successes and plan for the coming year,” said MnCUN President & CEO Mark Cummins. “Getting together this way allows us to share best practices that benefit all Minnesota consumers.”



MnCUN honors two outstanding credit union champions


Paula Erdmann (center), longtime St. Cloud
Federal Credit Union Board member, 2015
Outstanding Volunteer of the Year. MnCUN
President & CEO Mark Cummins (left) and
MnCUN Board Chair and Mid-Minnesota
President/CEO Chuck Albrecht (right).


Dan Stoltz, President/CEO of SPIRE
Credit Union (center), 2015 Outstanding
Professional of the Year. MnCUN President
& CEO Mark Cummins (left) and MnCUN
Board Chair and Mid-Minnesota
President/CEO Chuck Albrecht (right).

The Minnesota Credit Union Network (MnCUN) presented its two most prestigious awards – Outstanding Credit Union Volunteer of the Year and Outstanding Credit Union Professional of the Year – at a ceremony held during the MnCUN 2015 Annual Meeting & Convention on April 11. These awards are given to individuals who have demonstrated excellence and leadership, and who also embody the credit union mission. This year’s ceremony was hosted by Paul Allen, the “Voice of the Minnesota Vikings.”

The Volunteer of the Year Award is given to a credit union volunteer who best represents the credit union spirit through dedication to, and belief in, the credit union movement. Recipients are chosen based on their involvement with credit unions at the local and state levels, along with participation in activities that better their communities.


The 2015 honoree is Paula Erdmann of St. Cloud Federal Credit Union.


Erdmann has served on St. Cloud Federal’s board for nearly a decade. During her time on the board, Erdmann’s actions and involvement have helped grow the credit union’s membership base from 10,000 to over 15,000, or nearly 50 percent. During that same time period assets grew nearly 60 percent from just over $70 million to nearly $112 million. Also a strong believer in giving back to the community, Erdmann volunteers with many local organizations, including St. Cloud Area Legal Services, the United Way, Stearns County Family Service Collaborative and Tri-Cap, a nonprofit agency that provides a wide range of services to assist low-income people with opportunities that help them be more successful in their lives.


“Paula has been a pillar of St. Cloud Federal Credit Union’s success during the years she’s served as a volunteer,” said St. Cloud Federal Credit Union CEO Jed Meyer. “She fights for what she believes in and is passionate about doing what’s right for our members and our community.”


The 2015 Outstanding Professional of the Year Award is given to a remarkable person who truly stands behind the “people helping people” credit union philosophy. This year’s honoree is Dan Stoltz, President/CEO of SPIRE Credit Union.

“One of Dan’s core beliefs is to give back – to our members and to our community,” said Tom Heinzen, Chair of SPIRE Credit Union’s Board of Directors. “His leadership keeps the focus on SPIRE’s core purpose of improving members’ lives.”

Stoltz joined SPIRE in 1999 as the CFO, when it was known as Twin Cities Co-op Credit Union, and became President/CEO in 2009. His credit union industry service also includes serving as Secretary/Treasurer for the MnCUN Board of Directors and on the Board for Alloya Corporate Credit Union. Stoltz believes strongly in giving back, not only in his professional role at SPIRE, but on a personal level, as well. Within the community, Stoltz serves on the Presbyterian Homes’ Board of Directors, as the Vice-Chair for the University of Northwestern’s Board of Directors, and on the Board for the Keep on Pushing Foundation. Most recently, he was named King Boreas Rex LXXIX at the 2015 St. Paul Winter Carnival. As part of the celebration of Stoltz’s Professional of the Year award, the St. Paul Winter Carnival’s Royal Family made a special appearance at the event.

“The Minnesota Credit Union Network is pleased to honor Paula and Dan for their tremendous contributions to their credit unions and the credit union movement,” said Mark Cummins, MnCUN President & CEO. “Their dedication is inspiring, and the Network is proud to have people like them working on behalf of all credit unions. I congratulate them on receiving these well-deserved awards.”


Fifth Annual Financial Capability Roundtable

2015 marks the fifth year the Minnesota Department of Commerce will hold a Financial Capability Roundtable. The roundtable will be held Tuesday, April 28 from 1 to 4:30 p.m. at the Minnesota History Center in St. Paul.

During the roundtable Consumer Financial Protection Bureau (CFPB) Director Richard Cordray will share details of the CFPB’s report on financial well-being and highlight the agency's work.

For more information, visit the registration page online. With questions, please contact Julia Miller by email or by phone at (651) 539-1467.



Offering for CUs in state deposit program

As part of the Minnesota Credit Union Network’s Advocacy efforts to remove regulatory barriers for credit unions they are able to fully participate in a state deposit program – the Minnesota State Board of Investment’s Certificate of Deposit Program. Through this program credit unions can access up to $1.5 million in deposits.

The Minnesota State Board of Investment (MSBI) has offered a Certificate of Deposit Program to financial institutions throughout the state of Minnesota since 1980. The program is on-going, offered quarterly, with the amount of funds committed depending upon the state's cash position and the relative attractiveness of CD's to other investment alternatives.

The MSBI will purchase CDs with three and/or six month maturities at each quarterly offering. The maturity date may vary, but always mid-month each January, April, July and October.

Credit unions are encouraged to take advantage of this state deposit program that provides the opportunity to be part of an important state initiative. Information about the specifics of the program is outlined in the state’s Certificate of Deposit Program brochure. NCUSIF limits are identical to the FDIC-stated limits, and no additional collateral needs to be pledged.

To participate in this program, credit unions must use one of the following clearinghouse financial institutions:

  • Alloya Corporate Federal Credit Union;
  • U. S. Bank, Milwaukee;
  • Wells Fargo Bank, Minneapolis; or
  • United Bankers Bank, Bloomington.

(Note: Credit unions do not have to be a member of Alloya to use them as a clearinghouse for this program.)

Interested credit unions should contact the Account Executive at their clearinghouse. With questions about the state deposit program, contact the Minnesota State Board of Investments at (651) 296-3328.


NCUA announces financial literacy webinar and Twitter chat (FP)

The National Credit Union Administration (NCUA) will host a free webinar, “Your Mission in Action: Developing Youth Financial Literacy and Savings Programs” on April 22 from 1 to 2:30 p.m. A twitter chat on the same topic is scheduled to begin at 10 a.m.


For more information, and to register for the webinar, see NCUA’s press release.


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.  


Affinity Plus Foundation will award five $1,000 Financial Literacy Cultivator Grants


Eden Prairie High School set to open an in-school Royal CU branch next fall


Central Minnesota CU helps Perham grow



Five CUNA and MnCUN-supported regulatory relief bills pass U.S. House


Minnesota Department of Commerce budget passes Minnesota House Job Growth and Energy Affordability Policy and Finance Committee


View all Governmental Affairs news stories


NCUA releases streamlined policy for low-income credit unions to access secondary capital


View all Regulatory Compliance news stories


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Minnesota Credit Union Network
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