Volume 7, Issue 25.5
Engage and Make an Impact: Restricted Funds Update
MnCUN works proactively to create an environment for credit unions to grow market share. To help achieve this goal, MnCUN has established restricted funds to strengthen our advocacy efforts on behalf of Minnesota’s credit unions – the Awareness Fund and the Advocacy Fund.
Expenditures from the Credit Union Awareness Fund have been made to support MnCUN’s public affairs strategies, which include public relations and media relations activities, research, and consumer awareness initiatives. In 2018, Minnesota was selected as a pilot for CUNA’s national the Open Your Eyes to a Credit Union awareness campaign. While the statewide digital advertising campaign is currently on hold until the CUNA creative assets are deployed for use, MnCUN staff continue to push out key messages around community impact through public affairs efforts.
During the first half of 2018, MnCUN has:
- Garnered 373 earned media mentions in local and trade press January through June 2018.
- Managed the Credit Union News Channel to more efficiently share credit union news, publishing 292 stories January through June 2018.
- Partnered with Fluence Media to sponsor editions of Morning Take, Business Take, Ag Take, and Law Take, daily online news previews, which reach 10,000 influencers in Minnesota.
Expenditures from the Advocacy Fund have been used to enhance MnCUN’s advocacy activities through a number of activities and expenditures including:
- The Advocacy Fund supported public affairs initiatives as MnCUN works to advocate, educate and position credit unions as the best financial partner for Minnesota consumers.
- Support for Credit Union House – credit unions’ permanent “home away from home” – for credit union advocates visiting Washington D.C. Credit Union House provides the movement with a tangible and visible presence in our nation’s capital, serving as a symbol of the strength and permanence of credit unions.
- Collateral and resources for lobbying efforts. A portion of the Advocacy Fund is contributed on the state level to support the National Advocacy Fund coordinated by the Credit Union National Association (CUNA). National Advocacy Fund dollars have been spent on grassroots advocacy, electoral polling, research, and partisan communications as the industry works to positively impact the election of credit union-friendly candidates.
- Sponsorship of Wrong About Everything, a bipartisan podcast focused on local state and national politics
- Participation in the National Conference of State Legislatures, an event which draws over 5,000 state lawmakers and staff that attend NCSL.
- Support and resources for Minnesota’s CUNA Governmental Affairs Conference Activities.
The Minnesota Credit Union Network would like to thank credit union for their support of the Awareness and Advocacy Funds. Full report details and financial statements will be mailed to contributors.
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 Laura Whittet.
Upcoming Professional Development Opportunities
Below is a summary of the Minnesota Credit Union Network's July and August educational sessions. Browse the listings below and click the links for more detailed information and online registration.
P2P & In Person Events
- Thursday, July 12 - Auditing Your Loan Portfolio: Consumer, Commercial & Real Estate
- Monday, July 16 - Electronic Business Records: Seven Steps for Effective & Compliant Management
- Tuesday, July 17 - Developing, Maintaining & Sustaining Brand Loyalty
- Wednesday, July 18 - Reducing Consumer Loan & Collection Losses: Workouts, Forbearance, Restructuring & More
- Thursday, July 19 - Loan Review: Consumer, Commercial & Real Estate
- Wednesday, July 25 - Assessing Credit Risk for Directors
- Thursday, July 26 - Wire Transfer Security: Regulatory Guidance, Risk Management & Monitoring
- Wednesday, Aug. 1 - Regulatory Relief Act (S. 2155): Changes & Impacts to Credit Unions
- Thursday, Aug. 2 - ACH Rules & Responsibilities for RDFIs
- Tuesday, Aug. 7 - CECL: Making Strategic Decisions Regarding Methodologies, Processes & Governance
- Wednesday, Aug. 8 - Commercial Loan Application Danger Zones
- Thursday, Aug. 9 - Expanding & Improving Your Required IT Risk Assessment Program
- Tuesday, Aug. 14 - Advertising & the New Media Mix: What’s Right for Your Credit Union?
- Wednesday, Aug. 15 - Final Preparation for CFPB’s TRID Amendments, Effective October 1
- Thursday, Aug. 16 - Fair Lending Comparative File Review
- Wednesday, Aug. 22 - Stress Testing Your Loan Portfolio: Regulatory Expectations & Enhancing Credit Risk Management
- Thursday, Aug. 23 - Opening Minor Accounts: Signature Cards, Access, Ownership
- Tuesday, Aug. 28 - When ACH Fraud Occurs: ODFI & RDFI Responsibilities & Liabilities
- Wednesday, Aug. 29 - Managing Provisional Credit Under Reg E
- Thursday, Aug. 30 - Regulatory Requirements for the Board & Senior Management
Look for a complete schedule on the Event Calendar section of the Network website.
Minnesota CU4Kids Golf Tournament Raises $30k For Gillette Children's Specialty Healthcare
Last week, the Minnesota Credit Unions for Kids committee held their 23rd annual golf tournament. The June 20 event drew over 100 attendees and raised $30,000 for Gillette Children’s Specialty Healthcare, of which of which $10,000 will be matched by CO-OP Financial Services’ Miracle Match program.
“On behalf of the Credit Union for Kids Committee, thanks all of the sponsors and golfers for continuing to support Gillette Children’s Specialty Healthcare,” said sub-committee chair Marty Kelly. “I also want to congratulate City & County Credit Union for winning the tournament with an 18-hole total of 42, 30 under par.”
Enterprise Car Sales was the titanium sponsor of the 23rd event. For additional ways to support CU4Kids, visit the Minnesota Credit Union Foundation website.
Financial Education Grant Application Closing July 31
The Minnesota Credit Union Foundation Financial Education Grants support credit unions’ implementation of financial education projects. Grant applications are evaluated by the Minnesota Credit Union Foundation Board of Directors and evaluated on factors such as credit union value, community impact, collaboration, and creativity.
Financial education initiatives may include projects in the following areas:
- Community financial capability outreach programs
- Financial education curriculum
- Financial experiential learning programs – such as reality fairs, in-school branches, etc.
This year, there will be one extended grant application period rather than two shorter application periods. Applications are being accepted through July 31 and awarded in late August. Applications are available on the Minnesota Credit Union Foundation website.
With questions, please contact the Minnesota Credit Union Foundation.