The Pulse (11-15-16)

Volume 5, Issue 46

The Pulse Archive


Connected to Minnesota: 2017 Awareness Initiative

MnCUN is planning a public awareness campaign that will connect the deeds and investments of credit unions to the communities they serve – and educate Millennials and other Minnesota consumers of the credit union difference. The campaign will be a statewide, cooperative effort, designed to complement credit union marketing and educate consumers about credit unions. The goal is to move the needle on credit union reputation and awareness in an effort to increase market share.


In fact, CUNA research cites that after learning the credit union difference, 82% of bank customers would be interested in moving one or more accounts to a credit union; and 68% of non-PFI credit union members would be interested in doing more business with their credit union.


MnCUN will create a series of short videos that align the common investments credit unions are making in their communities with values Minnesotans hold dear. Investments like education, the outdoors, small businesses, charities, and even hockey. The videos will be distributed via paid media buys, mainly online. A consumer-facing microsite will also be created with more information about the credit union difference and how to find a credit union to join.


MnCUN is currently seeking pledges of financial support to cooperatively fund this Awareness effort. For more information about the campaign and to view a sample video, visit Together we are stronger; and together, credit unions can educate more Minnesota consumers about the credit union difference!


More information is available on the awareness page of the MnCUN website. With questions, contact MnCUN Director of Communications Andrea Molnau by email or by phone at 651-288-5527.



See Your Membership@Work

While the Minnesota Credit Union Network works hard to keep credit unions informed about the work of MnCUN and the Credit Union National Association through newsletters, emails, phone calls, and in person meetings, on a quarterly basis we publish Membership@Work to give credit unions a snapshot of the activities, efforts and results of the state and national associations. 


A digital version of the 3rd Quarter 2016 Membership@Work is available online. Member credit unions will also receive a printed version in the mail.





Election Season Wrap Up



DOL releases first FAQ on fiduciary rule

FFIEC issues uniform interagency consumer compliance rating system

NMLS opens renewal period for MLOs

CFPB releases bulletin and policy guidance on service providers

FRB releases update to Debit Card Exchange Fees, FAQ; covers update in FedFocus Newsletter

NCUA releases Board Agenda

NCUA proposes additional amendment to FOM rules on community charter


View all Regulatory Compliance news stories


It’s Better to Be Different

By Paul Treinen, Vice President – International, CUNA Mutual Group


Every day, millions of lives are touched by credit unions, and millions more are looking to join. In the United States alone, we saw membership increase by more than 4 percent since last July1 – the fastest rate of growth in a generation.


The credit union message spreads far beyond our shores, though. Globally, there are over 220 million members in well over 100 countries2. It’s an impressive foundation but there’s still a way to go if we’re to reach the World Council of Credit Unions’ target of 260 million members by the year 2020.


Having spent my career working with and for credit unions, I am confident we will reach that number; in no small part because the movement is – as it always has been – steadfastly committed to its founding principle of people helping people.


When yet another banking scandal hit the headlines recently, we were reminded just how unique this philosophy is to our industry. It is what distinguishes the credit union system from other financial services. It is the authentic difference that we are proud to celebrate.


For members like Leslie Finklea – a hardworking single mother from Longview, Texas – and millions like her across the world, there is no question of the real and lasting impact that a credit union can have on the community it serves.


After saving for ten years to build a home for her and her son, Leslie was twice denied a mortgage by the banks she trusted. For them, Leslie’s teacher’s salary was deemed insufficient, and the absence of a co-signer too great a risk. But for East Texas Professional Credit Union, an institution with which she had no financial history, it was an opportunity to help someone build a better, stronger financial future.


As not-for-profit financial cooperatives, credit unions can do what banks beholden to their stockholders simply cannot: put a member’s wellbeing first. They can see value beyond a simple dollar sign.


At CUNA Mutual Group, we are proud to be a part of the international credit union movement. For us, it is a privilege to work with and for these institutions and we thank you for letting us share this journey with you.


For more information about CUNA Mutual Group, contact MnCUN Vice President – Network Service Corporation John Ferstl by email or at (651) 288-5505.



1)      CUNA Mutual Group Credit Union Trends Report, Sept 2016

2)      World Council of Credit Unions



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

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