Please join the Minnesota Credit Union Network Annual Business Meeting on Friday, April 23, at 1:00 pm via webinar. The meeting will feature an overview of credit union accomplishments over the past year and the Board election results. To attend, please register by April 16.
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Congratulations to the Minnesota Credit Union Network members who are the recipients of the 2021 CUNA Marketing & Business Development Diamond Awards. The most prestigious annual credit union marketing competition, the Diamond Awards recognize and reward creative excellence and outstanding results.
8 credit unions and NetGiver are among the winners:
Winners were announced following the Marketing & Business Development Council virtual conference and each day during the week of April 12, winners will be honored from a portion of the 35 Diamond Award categories in a fast-paced, virtual environment. More details on Diamond Awards week is available on the CUNA Councils website.
Bureau Proposing a Moratorium on Foreclosures
The Consumer Financial Protection Bureau (Bureau) issued a proposed rule that includes a moratorium on foreclosures.
Bureau Rescinds COVID Related Policy Statements with One Days' Notice
Last Wednesday the Consumer Financial Protection Bureau (Bureau) issued a statement rescinding the following COVID related policy statements, issued in 2020, that had provided temporary flexibility to financial institutions.
Webinar on Updates to the FFCRA
The Minnesota Credit Union Network is partnering with employment law attorneys from Eckberg Lammers to host a webinar on updates to the Families First Coronavirus Response Act (FFCRA).
On March 18, 2021, the NCUA announced an interim distribution representing a partial recovery to capital holders of the U.S. Central, Members United and Southwest Corporate Asset Management Estates (AMEs). Alloya has received several inquiries from its membership following this announcement and will be hosting an educational webinar on April 12, 2021 to provide additional details regarding resolution of the Estates.
Alloya holds an interest in the U.S. Central AME and expects to receive a partial distribution by April 30, 2021 with the remaining projected distributions to be received in 2022 or later.
Alloya does not have an interest in the Members United or Southwest Corporate AMEs. Credit unions that hold an interest in those AMEs will receive distributions directly from the NCUA. The WesCorp AME continues to project zero value while the Constitution AME shows a positive projected value with distributions projected to begin in 2022.
In anticipation of these distributions, Alloya’s Board of Directors declared a record date of March 17, 2021 for future Special Dividends associated with receipt of U.S. Central AME funds on Alloya’s Perpetual Contributed Capital (PCC).
For additional information regarding the educational webinar and open forum to be held by Alloya’s management team on April 12, 2021, please visit www.alloyacorp.org/asset-management-estates.
The Pulse is MnCUN's newsletter that keeps credit union professionals and board members updated on current news and information.