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|The Pulse 11-17-16|
Volume 5, Issue 46.5
We are excited to announce the continued partnership between the Minnesota Credit Union Network and PolicyWorks to provide credit unions with compliance and education value-add benefits.
Compliance: All MnCUN member credit unions will receive complimentary access to PolicyAid - an online policy resource which contains over 80 sample policies, and is updated quarterly to help you keep your policies current. Policies are amended on a quarterly basis based on regulations, Letters to Credit Unions, AIRES questionnaires, and best practices.
Education: The Network will also deliver two complimentary compliance training webinars through our partnership with PolicyWorks.
In addition to these benefits, as a benefit to small credit unions under $35 million in assets, the Network will provide a free webinar of each credit unions’ choosing from the Credit Union Webinar Network.
The Minnesota Credit Union Network thanks credit unions for your continued support of the movement, and we truly believe that together we are stronger. With questions about these, or other benefits of membership, contact MnCUN Vice President & General Counsel John Wendland by email or by phone at 651-288-5519.
Credit Union Magazine is seeking nominations for 2017 Credit Union Heroes, those who serve as examples for the entire movement through their service, advocacy and commitment to the credit union movement. The nomination deadline is Dec. 9.
Credit Union Magazine will feature those selected as Credit Union Heroes in its March issue. Readers then vote at news.cuna.org to select the 2017 Credit Union Hero of the Year, who will be honored at the America’s Credit Union Conference, June 25-28 in Las Vegas.
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 Communications Specialist Laura Whittet.
MnCUN will hold the second meeting of the Minnesota Credit Union Women’s Leadership Network on Tuesday, November 29. The event is scheduled from 1 to 4 p.m. at 317 on Rice Park and attendees may participate in an optional tour of the Xcel Energy Center and Minnesota Wild Hockey Facility.
Program topics will include:
The Minnesota Credit Union Women’s Leadership Network is a local chapter of the Global Women’s Leadership Network established to further Global Women’s Leadership Network’s global mission by making a local impact. The purpose is to convene Minnesota’s women credit union professionals, discuss credit union issues, exchange ideas, network with neighboring credit union leaders, and share lessons learned with Global Women’s Leadership Network members worldwide.
In early 2017, the Family Involvement Council (FIC) will officially launch a new name and image, while continuing to enthusiastically pursue their mission to build credit union awareness and strengthen member relationships through their scholarship program.
After nearly two years of research and insight from fellow credit union professionals, the committee will officially be named the Minnesota Credit Union Foundation Scholarship Council (FSC) with its resolve represented in the tagline “Donate. Educate. Inspire.”
The new logo represents the FSC being part of the Minnesota Credit Union Network (MnCUN) family, as well as a committee of the Minnesota Credit Union Foundation (MnCUF). The green “swoosh” signifies scholarship money raised and awarded, and the graduation cap is an added flair to symbolize the commitment to higher education.
Because the committee is midst of their scholarship application season, the new name, logo and website will be officially rolled out to the general in the beginning of 2017. All links and redirects currently in place by credit unions to the FIC Scholarship Application will remain intact until the February 1, 2017 deadline.
The FIC, soon to be referred to as the FSC, will also be launching a new event to expand the amount of scholarships awarded to your credit union members.
More details about the January fundraising event will be made available soon.
National Credit Union Foundation Calls for Proposals to Conduct “Consumer Financial Health Check-ups”
The National Credit Union Foundation (the Foundation) is looking for credit unions to submit proposals leveraging the Center for Financial Services Innovation’s (CFSI) consumer financial health assessment tool.
CFSI is one of the leading organizations dealing with the subject of consumer financial health. CFSI’s Consumer Financial Health Study found that 57% of Americans are financially unhealthy, lack daily financial systems that serve them well, struggle to weather financial shocks, and are not well-positioned to pursue their financial aspirations.
Subsequently, CFSI has been piloting a consumer financial health assessment tool with a variety of institutions to gauge consumer financial health. Specifically, two credit unions, Wright-Patt Credit Union in Ohio and Coastal FCU in North Carolina have already worked with CFSI to leverage the diagnostic tool to conduct a “financial health check-up” to understand their members’ and employees’ financial health.
The Foundation is looking to fund financial health check-up projects by additional credit unions. Funding of $108,000 total is available to “seed” up to six credit unions to conduct an assessment project at their organization. Understanding members’ financial health and what their needs and struggles are, as well as how it compares to regional benchmarks, can help galvanize interest and enthusiasm among credit union management, staff, and board members to pursue initiatives to leverage products, services, and communications to help members improve their financial health.
“The Foundation’s intent is to assist more credit unions with the opportunity to respond to the fact that half their employees and members are struggling financially,” noted Gigi Hyland, Foundation Executive Director in the RFP. “The ‘financial health check-up’ will help credit unions assess the status of their members’ and employees’ financial health and provide insights on concrete actions the credit union can take to better respond to and improve members’ and employees’ financial well-being. Additionally, having more credit unions involved will bolster credit unions’ visibility as thought-leaders and ‘do-ers’ in the financial health arena.”
The deadline for credit unions to submit their applications is December 9, 2016.