To celebrate Financial Well-being Month in April, Minnesota Credit Unions will host the life-sized board game, "Go Big or Go Broke®" at the Capitol Rotunda on April 27 from 1:30 to 4:30 pm. This is a fun opportunity to demonstrate to legislators how credit unions provide financial education and advance financial well-being for all.
Go Big or Go Broke, the game where BIG stands for Behaviors Impact Goals and players learn how their choices can impact their financial future, is designed to provide financial education in a fun and engaging way. The game has been donated and offered in partnership by Royal Credit Union. We are looking for volunteers to help run the game and also offering the opportunity to bring promotional materials to the event:
If you are interested, please email MnCUN Director of Communications Julia Miller by Tuesday, April 11. 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.
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. 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." Dates: Tuesdays in June, 11:00 a.m. to 12:00 p.m. Cost: $550 Early Bird (expires April 25) and $600 Regular FinCEN Guidance on Beneficial Ownership Information (BOI) Rule: The Corporate Transparency Act (CTA), part of the Anti-Money Laundering Act of 2020, requires uniform beneficial ownership information reporting for certain types of corporations, limited liability companies, and other similar entities to FinCEN to collect that information.
CFPB Final Rule on Small Business Lending Reporting: The final rule under Section 1071 (Dodd-Frank Bill) issued March 30, 2023, requires higher volume lenders to collect and report data earlier than smaller volume commercial lenders (gross revenue $5M or less in preceding year). Fair Share Update: Money contributed to CULAC (CUNA’s PAC for federal candidates) and CUPAC (MnCUN’s PAC for state candidates) ensures that we continue to have credit union champions in all levels of elected office. To help credit unions remain strongly positioned politically, MnCUN has created a number of fundraising programs, including the Fair Share Program.
Legislative Update: Last week, the U.S. Senate Banking Committee and the House Financial Services committees held hearings on the failures of Silicon Valley and Signature banks, featuring testimony and questions of representatives from the FDIC, Treasury and the Federal Reserve. The Minnesota Credit Union Network (MnCUN), and the Servion Group are expanding their partnership to provide MnCUN member credit unions quality growth solutions. The partnership will provide mortgage, servicing, title insurance as well as commercial underwriting and related services to MnCUN Member Credit Unions. “At Servion, we’ve always taken pride in helping credit unions deliver valuable products and services to their members. I have been a part of this CUSO for more than 25 years, and this is a great opportunity for us to lean into helping the credit unions in our home state,” said Brad Crandall, President and CEO of The Servion Group. The Servion Group exists to provide credit unions with the tools to reach their true potential. Each member of the Servion team comes to work with a Be The Solution mindset and views their financial institution partners not as customers or clients, but as partners. Servion offers solutions to help credit unions establish and grow product and service lines that meet the needs of the people and businesses in their communities. “We chose The Servion Group because of their quality solutions and history of helping credit unions reach their goals, said MnCUN Chief Operating Officer, John Ferstl. For more information, contact MnCUN COO John Ferstl or visit the Solutions Directory. The MnCU Foundation is proud to open the CUDE Scholarship. This scholarship was created to provide financial assistance to credit union staff and/or volunteers who are members of the Minnesota Credit Union Network (MnCUN) and wish to attend the National Credit Union Foundation’s Credit Union Development Educator Training. Preference will be given to applicants have shown engagement with the credit union movement.
Application Deadline: May 31, 2023 Scholarship recipient will be notified in June 2023 Fall DE Training Date options: September 25-29, or October 23-27 sessions A program of the National Credit Union Foundation, the CUDE program brings renewed relevance to the philosophy of "People Helping People." This unique and transformative training provides critical lessons in cooperative principles, credit union philosophy, and development issues, while incorporating challenges credit unions face today. To apply, visit mncun.org/cudeapp. The Enhanced Financial Counseling Certification Program (FiCEP) teaches credit union staff how to counsel members so they can budget better, smartly save, pay down debt and plan for the future. Obtaining the training and associated credentials allows your credit union to differentiate itself from other financial institutions and be more confident in helping members build a stronger financial future.
The cohort-style training consists of 8 tutorial webinars, exam preparation, proctored exam, and program development training - taking place between June and September. Upon completion, participants will receive the Certified Credit Union Financial Counselor (CCUFC) designation. Attending the webinars live provides the opportunity to participate in discussion; however, they will also be available as a recording. On average, students should expect to spend approximately 30 minutes studying each chapter, 60 minutes participating in each webinar, and additional time as needed to review the materials before the exam. The last training session following the proctored exam is designed to help you develop a detailed vision and plan for financial counseling at your credit union. Cost: $479 per participating student Registration Deadline: Friday, April 28 As a central part of its mission to provide resources for credit unions and communities to prosper and thrive, the Minnesota Credit Union Foundation (MnCUF) has generously committed funding to help support the cost of the program for another year. The program is provided in partnership between CUNA's Center for Professional Development (CUNA CPD), CU Difference, and a collaboration with the Minnesota, Wisconsin, and Montana Credit Union Foundations. Contact MnCUF Executive Director Andrea Molnau with questions or visit the Enhanced FiCEP page. |
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