The Pulse | 2018

THE PULSE ARCHIVE

Credit unions in the news

GOVERNMENTAL AFFAIRS NEWS 🔒

REGULATORY COMPLIANCE NEWS 🔒

 
December 19, 2018

WINCENTIVE® SPECIAL HOLIDAY DRAWING WINNER RECEIVES GIFT FROM SANTA

On Saturday, December 15, lucky Affinity Plus Federal Credit Union member, Sheila M., was greeted by Santa with the gift of $1,000 as a part of her participation in the WINcentive Savings Account program. MORE

NO PULSE NEXT WEEK

The MnCUN office will be closed on Tuesday, December 25, and Tuesday, January 1, in observance of Christmas and New Year’s Day. The Pulse newsletter will not be sent on Wednesday, December 26, but will resume on Wednesday, January 2.

 

CREDIT UNION DAY AT THE CAPITOL EARLY BIRD DEADLINE APPROACHING

Registration is now open for the Minnesota Credit Union Network Credit Union Day at the Capitol on Tuesday, Jan. 29, 2019. MORE🔒

 

MNCUN COMMENTS ON FEDERAL RESERVE PAYMENTS SYSTEM 

On November 27, the Regulatory Review Committee met to discuss a proposal by the Federal Reserve to create and implement a faster payments system. With input from the committee, the Minnesota Credit Union Network drafted and submitted a comment letter to the Federal Reserve. MORE🔒

 

SUPPORT THE FOUNDATION SCHOLARSHIP COUNCIL AT DICE & ICE

Join the Minnesota Credit Union Foundation Scholarship Council for its 3rd Annual Dice & Ice indoor event raising funds for scholarships. MORE

 

2018 CU4KIDS DONATIONS DUE

The 2018 fundraising year for Minnesota Credit Unions for Kids (CU4Kids) is quickly coming to a close. All donations raised throughout the year must be received by the Minnesota Credit Union Foundation by December 31, 2018. MORE

 

December 12, 2018

CREW AMBASSADOR AND CREW ADVISORY GROUP APPLICATIONS OPEN FOR 2019

Applications are now open for the Crew Ambassador and the Crew Advisory Group in 2019.  MORE

 

2019 MEMBERSHIP PACKETS MAILED

MnCUN membership packets were mailed to all Minnesota credit unions on Dec. 7. Minnesota Credit Union Network dues should be remitted by Jan. 31. MORE

 

SUPPORT GRASSROOTS ADVOCACY WITH PROJECT ZIP CODE

With over 100 new members of Congress, as well as 39 new state Representatives, having up to date Project Zip Code numbers is essential leading into the new legislative sessions in January. We hope all credit unions consider assisting the Network’s grassroots advocacy work and run Project Zip Code (PZC) before the end of 2018. MORE🔒

 

MINNESOTA LAW UPDATED TO ALLOW FOR REMOTE NOTARIAL ACTS

During the 2018 Minnesota legislative session, with assistance and support from the Minnesota Credit Union Network, the legislature revised the laws for notarial acts. One of the more significant changes allows for notarial acts to be conducted remotely. MORE🔒

 

MNCUN CELEBRATES RECORD ATTENDANCE; NEW GROUPS WITH 2018 P2Ps

Each year, the Minnesota Credit Union Network (MnCUN) facilitates Peer-to-Peer (P2P) sessions, which provide educational training and networking opportunities for credit union employees.  In 2018, MnCUN celebrated record attendance, new groups, deeper connections and further developed programming through P2P sessions. MORE

 

REGISTRATION FOR ULEND ACADEMY 2019 NOW OPEN

In partnership with CUNA Mutual Group (CMG), the Minnesota Credit Union Network will be hosting the ULEND Academy workshop for credit union staff in Saint Paul from 8:30 a.m. – 4:30 p.m. on February 12-13, 2019. MORE

 

SUPPORT THE MNCU FOUNDATION WITH AMAZONSMILES

AmazonSmile is a simple and automatic way for you to support the Minnesota Credit Union Foundation every time you shop at Amazon, at no cost to you. When you shop at smile.amazon.com, you’ll find the exact same low prices, vast selection and convenient shopping experience as Amazon.com, with the added bonus that Amazon will donate a portion of the purchase price to the Minnesota Credit Union Foundation. MORE

 
December 5, 2018

MINN. CREDIT UNIONS RECOGNIZED FOR OUTSTANDING MARKETING

The Minnesota Credit Union Network is pleased to announce the recipients of their annual Minnesota Credit Union Marketing Awards. Winners were honored at a luncheon Dec. 3 in Minneapolis. MORE

 

CREDIT UNIONS SUPPORT OPEN YOUR EYES TO A CREDIT UNION COOPERATIVE AWARENESS INITIATIVE

Open Your Eyes to a Credit Union is a digital media campaign designed to raise consideration of credit unions as a brand category. The Network has been working closely with CUNA to put a strategy in place for deploying the campaign here in Minnesota. MORE

 

WELCOME JULIA MILLER, MNCUN DIRECTOR OF COMMUNICATIONS

MnCUN is pleased to announce Julia Miller recently joined our staff as Director of Communications. MORE

 

MINNESOTA DEPARTMENT OF COMMERCE CREDIT UNION ADVISORY GROUP

The Minnesota Department of Commerce created a Credit Union Advisory Group earlier this year. The Group seeks to improve and strengthen the Minnesota charter and state supervision while ensuring fair regulation and professional services to protect Minnesota consumers and credit unions. MORE🔒

 

WEBINAR ON UNCLAIMED PROPERTY AVAILABLE ON MNCUN WEBSITE

On November 28, the Minnesota Credit Union Network in conjunction with the MN Dept. of Commerce (DoC), hosted a live webinar on Unclaimed Property. MORE🔒

 

UPCOMING WEBINAR ON ADA WEBSITE COMPLIANCE

On Dec. 17, 2018 at 12:00 p.m. CT, CUsolutions Group and Audioeye will host a webinar discussing website compliance with the Americans with Disabilities Act (ADA). MORE🔒

 

MINN. CREDIT UNION WOMEN’S LEADERSHIP NETWORK CELEBRATES SECOND ANNIVERSARY

Last week, credit union professionals from across Minnesota gathered to celebrate the second year of the Minnesota Credit Union Women’s Leadership Network. MORE

 

CU4KIDS CHAIN OF HEARTS 2019 REGISTRATION

The Minnesota Credit Unions for Kids Committee invites all credit unions to participate in its 2019 Chain of Hearts fundraiser Jan. 8 to Feb. 28, 2019. MORE

 
November 28, 2018

 

AWARENESS INITIATIVE PLEDGE DEADLINE NOV. 30

MnCUN and CUNA are currently seeking pledges of financial support to cooperatively fund the Open Your Eyes to a Credit Union Awareness effort. We ask that you submit your pledge form by Friday, Nov. 30, 2018, so that we can finalize our initial media budget. MORE

 

HOUSE DFL LEADERSHIP TEAM ANNOUNCED THE COMMITTEE STRUCTURE AND CHAIR ASSIGNMENTS

On November 21, after winning 18 seats and control of the state House of Representatives, the House DFL leadership team announced the committee structure and chair assignments for the 2019-2020 biennium. MORE🔒

 

BUREAU INCREASES APPRAISAL EXEMPTION THRESHOLD FOR HIGHER-PRICED MORTGAGES

Effective January 1, 2019, the appraisal exemption threshold for higher-priced mortgages will increase. MORE🔒

 
 

FINANCIAL & AUDIT PROFESSIONALS GRANT APPLICATIONS CLOSING SOON

Financial & Audit Professionals Grant applications are now open. Funding from the Financial & Audit Professionals Grant program is intended to cover or defray the costs for credit union professionals and/or volunteers to attend timely and accurate educational events, conferences and seminars on financial and audit-related topics. MORE
 

 

November 21, 2018

REGISTRATION OPEN FOR 2019 CREDIT UNION DAY AT THE CAPITOL

Registration is now open for the Minnesota Credit Union Network Credit Union Day at the Capitol on Tuesday, Jan. 29, 2019. MORE

 

MN CREDIT UNIONS AMONG 2018 DESJARDINS AND DORA MAXWELL NATIONAL AWARD WINNERS

Credit Union National Association’s (CUNA) National Awards Committee announced the 2018 recipients of the Dora Maxwell Social Responsibility Community Service Award, the Louise Herring Philosophy-in-Action Member Service Award, and the Desjardins Awards for Financial Education. MORE

 

JOHN KERRY TO ADDRESS CREDIT UNION LEADERS AT 2019 CUNA GAC

John Kerry will be bringing his extensive experience and insights directly to the leaders of the credit union movement at the CUNA Governmental Affairs Conference (GAC) taking place March 10-14, 2019 in Washington DC. MORE🔒

 

REMEMBER TO REGISTER FOR WEBINAR ON UNCLAIMED PROPERTY

On Wednesday Nov. 28, from 10 am to 11 am, the Minnesota Credit Union Network will host a webinar conducted by the MN Department of Commerce on the topic of Unclaimed Property. MORE🔒

 

FASB OFFICIALLY DELAYS CECL IMPLEMENTATION

The Financial Accounting Standards Board (FASB) issued an update to its current expected credit losses (CECL) standard. MORE🔒

 

BUREAU UPDATES LOR AND HOEPA GUIDES

In response to amendments made by the Economic Growth, Regulatory Relief, and Consumer Protection Act (a.k.a. S2155), the Bureau of Consumer Financial Protection (Bureau) updated the Loan Originator Rule guide and the HOEPA Rule guide. MORE🔒

 

FSC SCHOLARSHIP APPLICATION DEADLINE APPROACHING

Applications are now being accepted through Nov. 30 for the 2018/19 Foundation Scholarship Council (FSC) scholarship program. MORE

 

MILL CITY CREDIT UNION HONORS CU BUILDERS

The Minnesota Credit Foundation is proud to recognize three individuals as Credit Union Builders. Created in 2008, the Credit Union Builder Award honors an individual’s dedication to the success, growth, and vitality of the not-for-profit financial movement in Minnesota. MORE

 
November 14, 2018

Complimentary PolicyAid Access and Webinar Benefits Continue in 2019

We are excited to announce the continued partnership between the Minnesota Credit Union Network and PolicyWorks to provide credit unions with compliance and education benefits. MORE

 

History in the Making: 2018 Elections

Last week’s elections were historic in many ways. Some facts from last Tuesday’s results: MORE 🔒

 

NCUA Issues Proposed Amendments to Federal CU Bylaws

On November 9, the National Credit Union Administration issued a proposed rule with amendments the Federal Credit Union Bylaws. MORE 🔒

 

Application to Crash the GAC Now Open

The Cooperative Trust, in partnership with Credit Union National Association (CUNA), is now accepting applications for Crash the GAC 2019. MORE

 

Join Credit Unions Marketers for the 2018 Award Luncheon Dec. 3

Please join us for a luncheon in celebration of outstanding credit union marketing efforts in 2018. Winners of this year's award program will be announced during the luncheon. MORE

 

Giving Opportunities for the Minnesota Credit Union Foundation

As the holiday season is upon us, we hope that you consider the Minnesota Credit Union Foundation in your giving plans – Give to the Max and Amazon Smiles. MORE

 

 
November 7, 2018

MINNESOTA CREDIT UNIONS SUPPORT NATIONAL AWARENESS INITIATIVE

MnCUN continues to work closely with the CUNA implementation team on segmentation strategy, creative content customization, the digital media buy, and performance metrics. MORE

 

CREDIT UNIONS WELL POSITIONED FOLLOWING ELECTION

Amidst near record turnout, the results from yesterday’s election are mostly in and there are some major changes in store for politics both nationally as well as in Minnesota. MORE🔒

 

BUREAU UPDATES HMDA COMPLIANCE GUIDE  

The Bureau of Consumer Financial Protection (Bureau) recently updated the HMDA Small Entity Compliance Guide. MORE🔒

 

FEDERAL RESERVE CONSIDERING REAL-TIME INTERBANK SETTLEMENT

On October 3 the Federal Reserve issued a request for comment on potential actions it could take to facilitate real-time interbank settlement of faster payments. MORE🔒

 

THE INNOVATION P2P REGISTRATION CLOSES FRIDAY, NOV. 9

The new Innovation Peer-to-Peer (P2P) is an opportunity to learn together and work collaboratively to bring back fresh new ideas to your credit union. This P2P group is open to every credit union staff that has a passion for innovation, loves coming up with ideas, and hopes to push the boundaries on what it means to serve our members. MORE

 

JOIN THE WOMEN’S LEADERSHIP NETWORK NOV. 28 FOR CONVERSATION AND CELEBRATION

All are welcome to attend the Women’s Leadership Network event on Nov. 28, from 4:00 – 8:00 pm at Urban Growler, St. Paul, for an insightful conversation and to celebrate a successful 2018. MORE

 

CREW AMBASSADOR AND CREW ADVISORY GROUP APPLICATIONS OPEN FOR 2019

Applications are now open for the 2019 Crew Ambassador and the Crew Advisory Group. MORE

 
October 31, 2018

OUR UNIFIED VOICE IS POWERFUL – TOGETHER MNCUN, CUNA AND YOUR CREDIT UNION ARE MAKING A DIFFERENCE

Together with you and your members, the Minnesota Credit Union Network and CUNA fight every day to advance the credit union movement. Our unified voice is powerful. MORE

 

CAST YOUR VOTE IN FAVOR OF CREDIT UNIONS

Election Day, Tuesday, November 6, is just a little less than a week away. Be sure to plan your visit to the polls and cast your vote in favor of Credit Unions! MORE 🔒

 

THE CREW YOUNG PROFESSIONALS P2P REGISTRATION CLOSES FRIDAY, NOVEMBER 2

Please join us for our next Crew Event on Wednesday, Nov. 7 from 12:30-3 at the Network office. MORE

 

CREDIT UNIONS RAISE FUNDS FOR KIDS THROUGH ANNUAL CU4KIDS BOWL-O-RAMA

On Wednesday, October 24, 92 bowlers from credit unions and organizations throughout Minnesota hit the lanes to raise $7,877 for Minnesota Credit Unions for Kids (CU4Kids) during the annual Bowl-O-Rama fundraiser. MORE

 

ONE MONTH REMAINS FOR FSC SCHOLARSHIP APPLICATIONS – DEADLINE NOV. 30

The Foundation Scholarship Council (FSC) is changing up the annual scholarship program to better align with the school year.  Therefore, starting in 2018 and going forward, the scholarship program will run from September 1 through November 30, with recipients being awarded in December. MORE

 

October 24, 2018

WINCENTIVE® CELEBRATES QUARTERLY WINNERS; $5.5 MILLION DOLLARS SAVED

In October, the WINcentive Savings Account program announced five $1,000 winners and 45 $100 winners throughout Minnesota for the third quarter prize drawing. MORE

 

JOIN THE WOMEN’S LEADERSHIP NETWORK FOR CONVERSATION AND CELEBRATION

All are welcome to attend the Women’s Leadership Network event on November 28, from 4-8 pm at Urban Growler, St. Paul, for an insightful conversation and to celebrate a successful 2018. Join us for a panel discussion of male and female credit union leaders as we discuss diversity, leadership, and career growth strategies. MORE

 

2019 CEO CONFERENCE MOVES TO PHOENIX; REGISTRATION NOW OPEN

Registration is now open for the 2019 CEO Conference being held Wednesday, February 6 through Friday, February 8 at Pointe Hilton Tapatio Cliffs Resort in Phoenix, AZ. MORE

 

DATA & ANALYTICS P2P REGISTRATION CLOSES FRIDAY, OCTOBER 26

On Wednesday, October 31, the Minnesota Credit Union Network is facilitating the fall Data & Analytics Peer-to-Peer (P2P) session at Novation Credit Union in Oakdale. Providing insights, connections and a forum for collaboration, this P2P session focuses on the opportunities credit unions have with their data, how to create and grow data-driven strategies and understanding this information through enhanced analytics. MORE

 

FINANCIAL & AUDIT PROFESSIONALS GRANT APPLICATIONS NOW OPEN

Financial & Audit Professionals Grant applications are now open. Funding from the Financial & Audit Professionals Grant program is intended to cover or defray the costs for educational events, conferences and seminars on financial and audit-related topics. MORE

 

MINNESOTA CREDIT UNION PROFESSIONALS RECEIVE FINANCIAL COUNSELING CERTIFICATION

27 professionals from credit unions across Minnesota completed the Enhanced Financial Counseling Certification Program (FiCEP). MORE

 

FFIEC UPDATES BSA/AML INFOBASE

The Federal Financial Institutions Examination Council (FFIEC) has launched an updated website (InfoBase). The purpose of InfoBase is to share information regarding examination procedures with examiners, financial institutions, the public and other stakeholders. MORE 🔒

 

FEDERAL RESERVE TO HOST TOWN HALL IN MINNEAPOLIS

On November 9, the Federal Reserve (Fed) will host a town hall from Noon to 3pm. The purpose of the town hall is to provide information and answer questions regarding the Fed’s recent proposal to facilitate real-timer interbank settlement of faster payments.  MORE 🔒

 

MNCUN AND DEPARTMENT OF COMMERCE TO HOST WEBINAR ON UNCLAIMED PROPERTY

The Minnesota Credit Union Network will host a webinar tailored to credit unions on unclaimed property from Minnesota’s unclaimed property program administrators. MORE 🔒

 

NCUA BOARD APPROVES AMENDMENT TO RISK-BASED CAPITAL RULE

Last Thursday, the NCUA Board voted to approve proposed amendments to the Risk-Based Capital Rule. MORE 🔒

 

 
October 17, 2018

GOVERNOR MARK DAYTON ISSUES CREDIT UNION DAY PROCLAMATION

In recognition of our positive impact in Minnesota and in celebration of International Credit Union Day, Governor Mark Dayton has issued a proclamation declaring Thursday, October 18, Credit Union Day in the state of Minnesota. MORE

 

MINN. CREDIT UNIONS LAUNCH SOLAR ENERGY CLEARINGHOUSE FOR CONSUMERS

Minnesota’s credit unions have launched a clean energy lending platform, CU Green. CU Green was developed to make clean energy accessible to more Minnesotans through educational resources, loans and investment options. MORE

 

JOIN US FOR THE “OPEN YOUR EYES TO A CREDIT UNION” WEBINAR SERIES

For an inside look at the research, creative and digital strategies driving the Open Your Eyes to a Credit Union™ campaign, be sure to join in for CUNA’s Awareness Initiative Webinar Series. MORE

 

MARKETING AWARD LUNCHEON REGISTRATION OPEN

Please join us for a luncheon on Monday, December 3, in celebration of outstanding credit union marketing efforts in 2018. Winners of this year's awards will be announced during the luncheon. MORE

 

MINNESOTA CREDIT UNIONS ACTIVE IN 2018 ELECTIONS

Credit unions' involvement in politics is vital to the growth and success of the movement. For that reason, it is essential that they become actively involved in the legislative process – including the elections. MnCUN has worked hard over the past several months on credit unions’ behalf to educate candidates about our legislative issues. MORE 🔒

 

FEDERAL AGENCIES ISSUE STATEMENT ON BSA COLLABORATION

The Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a joint statement discussing the benefits for financial institutions, including credit unions, in sharing Bank Secrecy Act (BSA) resources. MORE 🔒

 

NCUA TO VOTE ON RBC RULE TOMORROW

In August the NCUA proposed to amendment the Risk-Based Capital Rule (Rule) by delaying the effective date to January 1, 2020 and raising the asset threshold for compliance from $100 million to $500 million. These proposed amendments will be voted on at tomorrow’s NCUA Board Meeting. MORE 🔒

 
October 10, 2018

Credit Unions Impact 335,000 In Single Day of Kindness

On Tuesday, 49 credit unions and partners participated in a statewide day of kindness. Across Minnesota, the day was dedicated to community service projects and volunteer opportunities impacting over 335,000 people. MORE

 

Consumer Awareness Initiative Update

Work continues to accelerate toward the January 2019 launch of Open Your Eyes to a Credit Union™, an integral part of the national Creating Awareness Initiative. Both MnCUN and CUNA staff are busy preparing. The entire effort is based on changing consumer perceptions about eligibility and access to credit unions. National research revealed that too many believe they can’t join a credit union and have concerns about accessing their money (particularly when away from home). This national effort is aimed at changing minds to: I can join, and I can access my money. MORE

 

Minnesota Credit Unions Support Strong Legislative Representation Through Fair Share Goal

To increase the political prominence and influence of Minnesota credit unions, credit unions must have a strong and sustainable political fundraising program. MORE 🔒

 

Credit Unions for Kids Bowl-O-Rama Registration Ending Oct. 12

Join the Minnesota Credit Unions for Kids (CU4Kids) committee for the annual Bowl-O-Rama on Wednesday, October 24 in Wyoming, Minnesota. This event provides credit union professionals and volunteers the chance to raise money for a great cause and have fun doing it. MORE

 

MnCU Foundation Scholarship Winners Announced

The Minnesota Credit Union Foundation is pleased to announce the winners of its recent scholarship programs. MORE


OCTOBER 3, 2018 

THE PULSE STARTING A NEW DAY

Credit unions need to be aware of industry trends to best serve their members. Whether it is legislative news or upcoming regulatory changes, MnCUN provides several publications to keep you and your team informed. To ensure you receive the most up-to-date and relevant information, please take a moment to update your profile onlineMORE

 

46 CREDIT UNIONS PARTICIPATING IN STATEWIDE DAY OF KINDNESS

Minnesota’s Credit Unions will hold their second CU Forward day on Monday, Oct. 8.  Across Minnesota Credit Unions will dedicate the day to community service projects and volunteer opportunities that will impact over 335,000 Minnesotans. MORE

 

WINCENTIVE SAVINGS INCREASES PRIZE POOL, ADDS QUARTERLY CREDIT UNION DRAWINGS

WINcentive® Savings is a prize-linked savings account that offers members the chance to win cash prizes from a statewide drawing pool, with chances to win monthly quarterly, and an annual prize. MORE

 

VOTER GUIDE, ELECTION MATERIALS AVAILABLE AHEAD OF MIDTERM ELECTION

As owners of their not-for-profit financial institutions, many credit union members want to know where candidates stand on the issues that are important to credit unions. MORE 🔒

 

FOUR MINNESOTANS NAMED 2018 ROCK STARS BY CREDIT UNION MAGAZINE

Credit Union Magazine has announced 2018’s Credit Union Rock Stars, professionals and volunteers in the credit union industry whose innovations, service, and achievements have made an outstanding contribution to their communities and the credit union movement. MORE 

 

FEDERAL RESERVE ISSUES FINAL RULE AMENDING REG. CC

On Sept. 17, the Federal Reserve published a final rule amending Subpart C of Regulation CC. The rule creates a presumption of alteration when there is a dispute between financial institutions over whether a substitute or electronic check contains an alteration or unauthorized signature. The full text of the rule, which becomes effective Jan. 1, 2019, can be found on the Federal Register. More information and analysis can be found on CUNA’s websiteMORE 🔒

 

NCUA ISSUES CIP EXEMPTION

On Sept. 28, the NCUA issued an Order granting an exemption from customer identification program requirements (NCUA Reg., § 748.2) for certain finance contracts provided by credit unions to small businesses. Credit unions must still comply with all other Bank Secrecy Act requirements, including filling SARs when applicable. MORE 🔒

 

POLICYAID QUARTERLY UPDATE

As of Sept. 28, PolicyWorks added or updated the following policies... MORE 🔒


 

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