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The Minnesota Credit Union Network is accepting nominations for its most prestigious awards. Now is your chance to nominate a colleague for the 2024 Outstanding Professional of the Year or Outstanding Director of the Year.
The winners of these awards will be recognized with a video tribute during the Minnesota Credit Union Network's annual conference - ACCELERATE 24, which will take place April 18 &19 at the Mystic Lake Center in Prior Lake.
Please note that only nominations completed using the online forms will be accepted. Complete information and online nomination forms can be found on the MnCUN website. Contact Julia Miller, MnCUN Director of Communications with questions. Promoting Financial Education: National Credit Union Youth Month and Financial Well-being for All1/30/2024
Earlier this month, America's Credit Unions announced that they will not offer resources to promote National Credit Union Youth Month citing decreasing participation rates in recent years. National Credit Union Month was recognized during the month of April and encouraged kids to develop healthy saving habits by making savings fun and exciting.
The Minnesota Credit Union Network plans to continue utilizing April as opportunity to celebrate locally how credit unions provide financial education and advance financial well-being for all and is working on providing messaging and a framework for credit unions to use. Watch for an update in the coming weeks. We encourage credit unions to identify opportunities to share financial education initiatives and activities for the month of April with MnCUN, by emailing Director of Communications Julia Miller. MN Department of Commerce New Fraud Alert: Yesterday, at a meeting with the Network State Charter Subcommittee, Senior Director Michael Crow, spoke of a potential fraud ring to look out for.
CFPB Proposes Two New Rules On Fees: On January 24, the Agency issued a proposed rule to prevent NSF fees by financial institutions when a consumer’s attempted withdrawal, debit, payment, or transfer transaction amount exceeds the available funds in their account and is instantaneously rejected. FinCEN Seeks Comment on BOI Reporting Data: The Financial Crimes Enforcement Network (FinCEN) seeks comment on information to be collected from certain authorized recipients (credit unions included) when requesting access to beneficial ownership information (BOI), consistent with the agency’s final access and safeguards rule. FTC and DOJ Issue Joint Guidance On Internal Company Messaging Platforms: On January 26, the Federal Trade Commission (FTC) and Department of Justice (DOJ) issued joint guidance on the responsibility to preserve documents exists across all types of media, both ephemeral and non-ephemeral communications through messaging applications are documents. Fraud is Hitting Credit Unions Hardest: A recently released report by Alloy revealed 79% of credit union and community bank decision-makers surveyed experienced more than $500,000 in direct fraud losses in 2023. CDFI Postpones Webinar on New Application: On January 29, the Community Development Financial Institutions Fund (CDFI) announced it was postponing its webinar from January 31 until February 8, 2024, from 1:30 pm – 2:30 pm ET. The Minnesota Credit Union Employee Benefits Board of Trustees is thrilled to announce another successful renewal year of our Association Health Plan. We are delighted to share that Anoka Hennepin Credit Union has joined our growing community. We are also thrilled HomeTown Credit Union has rejoined the plan after two years away. The addition of Anoka Hennepin and HomeTown strengthens our collective commitment to fostering a robust and affordable healthcare plan.
The plan covers 450 credit union employees at 21 credit unions around the state with around 850 covered lives. Together, we aim to continue the positive trajectory, ensuring the continued success and prosperity of the AHP in the years ahead. To request a quote and for more information, visit the MN CU Employee Benefits Plan page. The Minnesota Credit Union Foundation is pleased to announce the following Financial Education grant recipients:
Heartland Credit Union Personal Finance Library – which will provide personal finance resources in each branch location. Northern Communities Credit Union for the FLi with NCCYou program – which will include My First Nest Egg, Kids Corner at branch locations, and two Reality Fairs. MnCUF Financial Education Grants support credit unions’ implementation of financial education projects. 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. The application period is open so that credit unions may apply for funding at any time throughout the year. Financial education initiatives may include projects in community financial capability outreach programs, financial education curriculum, or financial experiential learning programs – such as reality fairs, in-school branches, etc. For more information on grant opportunities, visit mncun.org/apply-for-a-grant. Please join your Credit Union Foundation colleagues for an informal networking luncheon to connect and share ideas on credit union philanthropy in Minnesota. All are welcome to join - if your credit union has an established foundation or you are considering one. Please register by Feb. 16.
Date: Thursday, Feb. 22 Time: 11:00 a.m. to 1:00 p.m. Location: MnCUN Office 555 Wabasha Street N, Suite 200 St. Paul, Minnesota 55102 With questions, please reach out to Andrea Molnau.
The MnCUN Board of Directors represent the interests of credit unions of all sizes from all parts of the state. The Board works together with MnCUN’s President & CEO to ensure that all member credit unions receive high-quality service and that the interests of Minnesota credit unions are promoted both at the state and national level.
The Board met last week to review financials, receive department and committee reports, and discuss future planning and governance. The Board reviewed the 2024 Advocacy Engagement plan and approved organization’s strategic deliverables for 2024. The Network Service Corporation provided updates on several initiatives including: the annual Business Parter Report from TruStage; the business plan for expanding TruLync Medicare Advisors; 2024 updates for Prize Linked Savings; and the TriState Collaborative. As a member of MnCUN, you have the support of the only trade association that champions Minnesota Credit Unions, ensuring credit union priorities are front and center as we advocate, accelerate, and collaborate to ensure a thriving credit union system in Minnesota. Learn 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 Julia Miller. |
The PulseThe Pulse is MnCUN's newsletter that keeps credit union professionals and board members updated on current news and information. Archives
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