To celebrate Financial Capability Month, Minnesota Credit Unions will be at the State Capitol tomorrow hosting a fun event that demonstrates how credit unions advance financial well-being for all Minnesotans.

​​We're bringing the life-sized board game, “Go BIG or Go Broke,” which helps players learn how their choices can impact their financial future. BIG stands for Behaviors Impact Goals. The game has been donated by and offered in partnership with Royal Credit Union.

Date: Thursday, April 27, 1:30 to 4:30 p.m.
Location: Minnesota State Capitol Rotunda

Go BIG or Go Broke is an engaging, life-sized board game designed to teach financial education in a way that's anything but boring! The players are the game pieces, moving around the board by answering trivia, decision, and chance questions, with some unexpected trips to the Money Pit and Credit Chaos Corner along the way. The object of the game is for players to earn the most money while expanding their financial knowledge.

We'll be joined by Dawson Co-op Credit Union, Farm Credit Employees Federal Credit Union, Royal Credit Union, SPIRE Credit Union, and Wings Financial Credit Union. 

CUOnline Multi-Factor Authentication User Account Registration Required: In order to comply with Executive Order 14028 “Executive Order on Improving the Nation’s Cybersecurity” the National Credit Union Administration implemented Multi-Factor Authentication (MFA) for the CUOnline application on April 1, 2023. 

NCUA Considers Interest Rate Ceiling: The NCUA board was briefed at their April 20 meeting on whether a floating interest rate between 15-18% was legal and the impact of lowering it back down to 15%. 

​NCUA Requests Comment on Climate-Related Financial Risk: The board voted to request comment on climate-related financial risk specifically, current and future climate and natural disaster risks to federally insured credit unions, related entities, their members and the National Credit Union Share Insurance Fund.

All Minnesota House and Senate committees have passed their budget bills and the legislation is being sent to the floor to be voted on by the by the full House and Senate. These omnibus bills include both legislative priorities and provisions that MnCUN is monitoring.

Credit union foundations are charitable organizations, subject to complex state and federal laws and regulations. This session is intended to bring simplicity and clarity to the state and federal laws that govern our credit union foundations. You will leave the session with an understanding of:

• governance and fiduciary obligations of directors of a credit union foundation
  
• requirements of our foundations as 501(c)(3)s under federal law 
  
• what makes a credit union foundation a public charity versus a private foundation
  
• why the public charity/private foundation status of a credit union foundation matters
  
• lessons learned from the 2022 Otto Bremer Foundation decision in Minnesota

We will also have time for your questions.  Send them in advance or bring them to the session!

​Tuesday, May 23, 2023
10:30 AM - 2:00 PM 
Wings Financial Credit Union
14985 Glazier Avenue
Apple Valley, MN 55124
Presenter: Heidi Christianson, attorney at Nilan Johnson Lewis, PA. Heidi’s clients are nonprofits, and they include corporate and family foundations, trade associations and public charities like hospitals and social services organizations. 

This session is sponsored by Wings Financial Credit Union and will only be offered in person. Lunch will be provided. Please register by May 12. With questions, please contact  Andrea Molnau, VP Communications & Engagement at amolnau@mncun.org. 

By Steve Heusuk, Director, Competitive & Market Intelligence, CUNA Mutual Group. This article is provided as part of MnCUN's partnership with CUNA Mutual Group, to learn more visit the Solutions Directory. 

Without question, the multi-year plan still has its place – even amid today’s unprecedented pace of change. After all, long-term planning is how leaders put meat on the bones of their vision. 

At the same time, visionaries must also be nimble, pivoting to take advantage of emerging technologies and market opportunities. Executing the following near-term strategies can set the table for adaptability without letting shiny objects pull teams too far off course. 

1. Reexamine your competitive advantage
Many credit unions believe member service is the core of their value proposition. In fact, when CUNA Mutual Group surveyed credit union leaders in Q2 2021, 41 percent of respondents said member service was a top-three source of their organization’s competitive advantage. 

How many of those credit unions’ members would say the same? If you believe the data, fewer of today’s members feel their credit union is providing great service. It’s no secret credit unions have been trailing banks in customer satisfaction for several consecutive years. Yet, many credit union leaders continue to contend that member service is their greatest strength.

Credit unions that believe their advantage is member service yet find evidence to the contrary may want to reexamine their perceived advantages. That investigation starts at the very top, by checking on the relevancy of the credit union’s purpose, mission and vision. Are they still aligned with what members need?
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From there, strategists can identify the areas in which the credit union must win to reach its North Star. 

The Minnesota Credit Unions for Kids Committee has announced the 28th Annual Best Ball Golf Tournament!  Join and support the CU4Kids on Thursday, June 15, 2023 at the Refuge Golf Club in Oak Grove. 

The Minnesota CU4Kids Golf Tournament, founded in 1995, supports Children’s Miracle Network/Gillette Children’s Specialty Healthcare in St. Paul.  Over the years the event has raised over a half-million dollars for the credit union-sponsored cause.

Please see the Event Flyer for more information on sponsorships. Contact Marty Kelly via email with questions.

28th Annual Credit Unions for Kids Golf Tournament
Thursday, June 15, 2023
Refuge Golf Club | Oak Grove, Minn.
11:00am – Registration/Box Lunch
12:00pm – Shotgun Start
4:30pm – Social Half-Hour
5:00pm – Awards Dinner

Newly appointed MnCUN CEO and President Mara Humphrey addressed the general session and retiring MnCUN CEO and President Mark Cummins was honored during a celebration on Thursday night.

​Casey O'Brien, 5-time cancer survivor, former Minnesota Gopher football player, speaker and closed the conference with his presentation, “The Three Keys to Overcoming Adversity.”

During the annual business meeting, the election results were announced. One incumbent was re-elected, and two new members was elected to three-year terms on the MnCUN Board of Directors:

• Randy Willert, Two Harbors Federal Credit Union – 10,000 or Fewer Members Category
• Steve Ewers, President/CEO of Member’s Cooperative Credit Union – At Large Category
• Greg Worthen, President/CEO of My Credit Union – At Large Category ​

​Mark Cummins, MnCUN Board Members Tom Smith (TopLine Financial Credit Union) and Dan Stoltz (SPIRE Credit Union) were honored with a framed painting of Minnesota’s state flower, the lady slipper. Part of a one-of-a-kind state flower collection, these prints are displayed at the Credit Union House on Capitol Hill in Washington, D.C. Cummins and Smith were recognized for their upcoming retirements and Stoltz for his final term as a Board Member.
 
Following the Business Meeting, Board table officers were elected. Dave Boden of Hiway CU will serve as Chair, Dana Garrett, North Memorial Federal CU will serve as Vice Chair, and Steve Ewers of Member’s Cooperative Credit Union will serve as Secretary/Treasurer.

View the entire photo gallery from the event: https://photos.app.goo.gl/PdeKxRFQPNQ1nUz57

The Minnesota Credit Union Network presented the Outstanding Credit Union Director of the Year and Outstanding Credit Union Professional of the Year awards at a ceremony during the conference.

The Professional of the Year Award is given to a remarkable person who truly stands behind the “people helping people” credit union philosophy. This year, the Minnesota Credit Union Network’s honoree for Outstanding Credit Union Professional of the Year Award went to Tom Smith, retiring President and CEO of TopLine Financial Credit Union.

​The Director of the Year Award is given to a credit union board member who best represents the credit union spirit through dedication to, and belief in, the credit union movement. The Outstanding Credit Union Director of the Year Award honor was awarded to Tom Heinzen, Board Chair of SPIRE Credit Union.
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“The Outstanding Professional and Director of the Year is the Minnesota Credit Union Network’s most prestigious awards and its recipients have distinguished themselves in their efforts to better their credit unions and promote credit union movement,” Mark Cummins, President and CEO of the Minnesota Credit Union Network, the state’s trade association for credit unions.

​Video tributes of each of the award winners are available on the Minnesota Credit Union Network’s website.

Minnesota Credit Union Network is excited to partner with Montana and Wisconsin credit unions to bring you this valuable and timely The No Nonsense Experience (NNE)™: Diversity, Inclusion, and Bias Workshop. 

Tuesday, June 6, 2023 11:00 AM - Tuesday, June 27, 2023 12:00 Noon CST
Fees: $550 Early Bird (expires April 25) and $600 Regular

​This four-week No Nonsense Experience (NNE)™ Workshop is a deep dive into Diversity, Inclusion, and Bias. During this NNE you will be introduced to the Diversity, Inclusion, and Bias (DIBs)™ Model which undergirds much of the work we do.
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Participants will be provided with homework or prework that serves as prompts and the foundation for in-session discussions. Attendees will be placed into cohorts of 8 people that meet for 1 hour, once a week, for 4 weeks. Trained facilitators will guide participants toward building comfort, strength, and strategies for change, in partnership with their cohort. This cohort learning model challenges and supports professionals as they engage with others in sometimes sticky and difficult conversations. We utilize a ‘no nonsense’ approach to create an environment that allows participants to grow while feeling “The RIGHT Kind of Uncomfortable."

Compensation for Insurance Sales: The Minnesota Department of Commerce issued guidance last week regarding compensation for insurance sales. This has been a long-standing priority of MnCUN's state charter working group.
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Bureau of Fiscal Service (Treasury) Proposed Rule on Treasury Checks: CUNA along with other financial trade organizations has sent a letter in response to the Bureau of Fiscal Service’s proposed rule on the indorsement and payment of checks drawn on Treasury.