Treasury Secretary and NCUA Chair Support Third Party Vendor Oversight: Treasury Secretary Janet Yellen testified to the House Financial Services Committee and the Senate Banking Committee last week to give the annual report of the Financial Stability Oversight Council. 

2024 Minnesota Legislative Session Begins with New Bill Proposals and New Senate Leadership: Monday was the first day of the shorter, even-year legislative session.

​This important advocacy event forms the foundation for a positive working relationship with legislators throughout the Legislative Session. Through education sessions, legislative briefings, keynote speakers and legislative visits, IMPACT 24 brings the credit union message to elected officials. 

​Early bird discounts are available until February 23, 2024. With questions, contact Ryan Smith, Chief Advocacy Officer

Join the CREW Young Professionals for the "Coffee with the CREW" on Wednesday, February 28 at 9 a.m. This series focuses on providing credit union young professionals with opportunities for networking and collaboration to help further knowledge and professional growth within the industry.

This meet-up will be facilitated by CREW Advisors. Come and " Get to Know the CREW", bring your questions, and enthusiasm to share with everyone!

We will open up the webcams and audio lines for the group to join our facilitated discussion. All aspects of this session have been created with the intention of shared learning among facilitators and attendees. We will be asking attendees to actively participate before and throughout this session.

​With questions, please contact Xiong Lee, MnCUN Director of Engagement.

With the growing pool of competitors, rather than focus on “share of wallet,” credit unions first need to get “share of mind.” Credit unions are different because they are about their members’ financial well-being… and want to transform lives by helping people improve their financial health.

The FinHealth Hub is there to give credit unions the tools that they need to be able to live out the mission of “people helping people.” The resources provided through The FinHealth Hub help the people who are helping people and enable credit unions to own financial wellness.

The FinHealth Hub is an online community of financial well-being practitioners who are passionate about sharing their journeys and learning from each other. 

Designed in a “master class” type of format, the goal of the FinHealth Hub is to have people learn, connect, and grow. In the platform, credit union professionals can:  
LEARN: Take courses to learn about financial well-being for All.  
CONNECT: Engage in a forum to collaborate on solving roadblocks and sharing resources.  
GROW: Tap into resources and tools to help take action. 

For more information, visit FinHealth Hub - NCUF.

TruLync Medicare Advisors was established in September of 2023 as a licensed insurance agency designed to support credit union members through the Medicare process.

The case study details the pilot program held during the 2023 Medicare Open Enrollment Period. Six credit unions in the pilot were provided marketing materials and held educational events for their members to learn about Medicare options. Nineteen educational events were held between September and December.

​As a result of the events, Dave Brown, Director of Insurance Services, conducted 168 personal appointments. During these appointments, Brown reviewed members current Medicare selections and consulted with them to ensure the appropriate program was designated for their individual situations. These conversations resulted in 121 members obtaining a new Medicare option through TruLync Medicare Advisors, saving a total of $169,000 in annual premiums, or an average annual savings of $1,400 per member. 

Join MnCUN on Wednesday, Feb. 28 at 1:00 pm to learn more about TruLync Medicare Advisors and this new partnership opportunity.

The webinar will include results of the 2023 pilot program; expansion plans for 2024; and details about how your credit union can provide this impactful service to your members.

The webinar is free and will be recorded. We do ask that you please register. With questions, contact Kris Jacobsen, MnCUN Vice President of Business Development, by email or phone at 612-244-7138. 

Office of Cannabis Management (OCM) Update: On January 30, the OCM held a webinar to update the progress of its implementation of the 2023 recreational marijuana law with the goal to launch commercial licensing in 2025. 

CFPB Issues Two Advisory Opinions: On January 11, the agency issued two advisories clarifying the Fair Credit Reporting Act (FCRA) requirements on background check reports and credit file disclosure implementing their January 2023 report for improving and challenging credit reporting companies. 

Permitted Purposes for Consumer Reports Reminder: As the CFPB moves towards mandating open banking, it is important to remember the Fair Credit Reporting Act (FCRA) regulations for permitted purposes and use of consumer (credit) reports. 

​Cybersecurity Trends: Eder Ribiero, cybersecurity manager for Transunion sees the following things to watch out for in 2024.

Lizzy Cheney, Recruiter with Members Cooperative Credit Union, was named to participate in The Cooperative Trust’s award-winning Crash program at this year’s Governmental Affairs Conference (GAC) in Washington D.C. While this year marks the 15th “Crash the GAC” event, it is the first to be hosted by America’s Credit Unions.

​The event scheduled to take place March 3 – 7 brings together industry leaders and advocates to discuss critical issues facing the credit union landscape. America’s Credit Unions generously covers the registration costs for 51 Crashers to attend the nation’s largest credit union event, presenting a tremendous opportunity for these young professionals to attend. The Cooperative Trust is thrilled to bring along seven additional Crashers who were sponsored by their credit unions. 

"Congratulations to Lizzy Cheney for being selected to the Crash the GAC program," said Minnesota Credit Union Network Chief Advocacy Officer Ryan Smith. "Young professional involvement in federal advocacy is critical in ensuring credit union interests are promoted in the future. The Crasher program is unmatched in preparing young leaders to advance the credit union movement."

​The 2024 Crash the GAC delegation comprises 58 talented credit union professionals from across the country who have demonstrated exceptional dedication to the credit union movement. These emerging leaders have played pivotal roles within their credit unions and have shown a commitment to advancing the values and principles that define the industry.

In 2024, the program will offer participating credit unions updated marketing materials to promote the accounts to members and enhancements to data and reporting. 

​“We are looking forward to providing credit unions with improvements to the program to help meet the financial needs of their members and promote their financial well-being,” said John Ferstl, Chief Operating Officer of the Minnesota Credit Union Network.

For more information on the Minnesota WINcentive Savings Program, reach out to Xiong Lee, MnCUN Director of Engagement.