The Pulse | 06-26-2018

Volume 7, Issue 25

The Pulse Archive


Hike the Hill Registration Open

Registration is now open for the 2018 Hike the Hill. Scheduled for Tuesday, Sept. 25 through Thursday, Sept. 27 in Washington D.C., Hike the Hill provides credit union representatives with an opportunity to meet face-to-face with federal legislators.


The three-day trip will include a legislative and regulatory briefing with CUNA to provide information on the critical issues facing credit unions and background information about the current happenings on the Hill. Attendees will then meet with offices of Minnesota's Congressional Delegation. The trip will also include visits to regulatory agencies including the NCUA.


Full details and registration are available online.


With questions, contact MnCUN Director of Government Affairs Ryan Smith by email or at 651-288-5523.



Regional Summer Series Events Begin July 17

New in 2018, the Summer Series is an extended version of the Minnesota Credit Union Network Peer-to-Peer (P2P) education sessions, held regionally throughout the state. Each event will offer a Marketing & Business Development P2P, Compliance or Operations P2P, and a Network Update offering information about current and new initiatives for Minnesota Credit Unions.


Regional Summer Series dates and locations:


Each Summer Series session will follow the schedule below:


  • 9:30-11 a.m. - Marketing & Business Development P2P Session
  • 11:30-1 p.m. - Network Luncheon and Networking
  • 1:30-3 p.m. - Compliance P2P Session

Additional events in the in the North Red River Valley and Lakes & Pines areas will be announced in the coming weeks.


Employees are invites to attend one or multiple session throughout the day. With questions, contact MnCUN Director of Engagement Ben Hering by email or by phone at 651-288-5519.





2018 Legislative Session Summary Available


View all Governmental Affairs news stories



NCUA Issues FOM Rule

MnCUN, CUNA Partner to Offer Minnesota Specific Compliance Community


View all Regulatory Compliance news stories


Don’t Sign That Contract Without a Second Opinion

By Kelly Flynn, John M. Floyd & Associates National Director

Before you buy a used car, you take it to a mechanic. When you’re under the weather, you go to a doctor. When you face a dilemma, you consult a trusted friend. We’re all accustomed to getting a second opinion for the simple reason that we don’t know what we don’t know.

So, when it comes to negotiating vendor contracts for your credit union, looking for a second opinion should absolutely be part of the process. A third-party review by experts who know the ins and outs of vendor contracts will give you reliable advice, along with confirmation for a number of significant concerns, such as:

  • Am I getting the best deal?
  • Am I getting the best terms?
  • Am I missing out on signing bonuses?
  • Are there other vendors I should be looking at?
  • Are other financial institutions negotiating more aggressively and getting better concessions?
  • Can I consolidate line items or bundle services to save money?
  • Am I leaving any additional incentives on the table?

When you get a second opinion, you arm yourself with more complete information and a different perspective Read this case study on how we helped Garden Island Federal Credit Union get more out of their service contracts.

JMFA is a Minnesota Credit Union Network Vendor Involvement Program participant. For more information about JMFA, contact MnCUN Director of Business Development Kris Jacobsen by email or by phone at 651-288-5515.

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

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