On Thursday, June 18, at 3:00 pm, credit unions are invited to meet for a virtual Town Hall with National Credit Union Administration Chairman Rodney Hood. All MnCUN members are encouraged to attend.
The Town Hall will cover a range of topics, including updates from the NCUA, Hood’s priorities for his term as chair, and an opportunity for attendees to ask questions.
The event is free, however we ask that you please register .
With questions, please contact Mara Humphrey.
CUNA Mutual Group Webinar - Moving Forward Forum: Insights and Strategies for the Credit Union New Frontier
No one could have predicted the course of 2020 so far, and we’re all called to leverage the very best that we can bring to the table. Change is accelerating faster than ever. Plans are out of whack. Budgets are tight(er). As we look into the future, finding a new normal feels like both a tremendous responsibility and a giant guessing game.
That’s where being part of the credit union system makes a difference; we know how to pull together to share resources that help you make more informed decisions based on best practices across our industry.
Join CUNA Mutual Group on Thursday, June 25 for the Moving Forward Forum: Insights and Strategies for a New Frontier for these three sessions hosted by credit union industry experts at CUNA Mutual Group to provide ideas to help you increase agility, increase revenue, and effectively serve the growing multicultural consumer population.
Date: Thursday, June 25, 2020 – 11:30 am Eastern/8:30 am Pacific
Sessions: Three sessions by top industry experts
Length: 45 minutes per session
Where: Online – Register now!
Five Minnesota Credit Unions were honored by the CUNA Marketing & Business Development Council Diamond Awards, picking up 11 awards including several with the Category’ Best distinction. Overall, out of 1,295 entries submitted six credit unions won Best of Show Awards, 93 won Category’s Best Awards and 255 won Diamond Awards.
Full list of award winners and categories
City & County Credit Union:
First Alliance Credit Union:
Hiway Federal Credit Union:
Royal Credit Union
SPIRE Credit Union:
The Minnesota Credit Union Foundation has established a $65,000 Grant Pool for the purpose of pandemic relief fund to support MnCUN affiliate members under $100M in assets.
Credit unions may apply for funding to address a past, current or future expense as they transition to address the challenges that the COVID-19 crisis has created for the industry. Pandemic-related expenses that have been incurred after March 15th, 2020 will be considered.
Credit unions may apply beginning immediately and the Foundation will accept applications as funding permits or until December 1, 2020. A portion of the available funds were provided by a generous donation from Alloya Corporate Credit Union.
Grant requests can be up to $2,500 and must be used to support expenses directly related to the pandemic including but not limited to:
How to apply: Complete the application form, which includes a description of the fund use, proof of expense or detailed proposed budget, and credit union CEO approval. With questions, contact Andrea Molnau, MnCU Foundation Executive Director.
These past days have been incredibly difficult for Minnesota, for our members, for us. While as a credit union community we are physically unharmed, we are mentally shaken by the tragic death of George Floyd and the subsequent events that followed. It was incredibly difficult to watch rage boil over into the destruction of a thriving, multicultural residential and commercial sector of Minneapolis. It was heartbreaking to see the unchallenged destruction of government buildings when a post office and police precinct building were over-run, vandalized and burned. It was equally disheartening to see that a full mobilization of the Minnesota National Guard was required to help re-establish order in the streets of Minneapolis and St Paul.
There is also hope. It was heartwarming to see brigades of volunteers from all sectors of the community converge with brooms and shovels on Sunday morning to help clean up neighborhoods that are not their own. Charities have been overwhelmed by donations of water, food, and other personal necessities of daily life. Incredible generosity - that is also part of Minnesota.
Yet the anger is still there - burning. It has always been there. Mostly we as a society have chosen not to see it. We ignore it – until we cannot. And then we really just want to turn down the heat. But we have never actually worked to extinguish the flame. This has to change, and credit unions cannot be bystanders. We must be participants. DEI can no longer be an industry buzzword or HR Department responsibility, but viewed by all in our industry with a much broader lens, and tangible steps taken forward at the most basic level.
I am sure many of you have noticed the Open Your Eyes to a Credit Union bus ad that was present at the time of George Floyd’s murder, captured on video. These images will be with us for a long time as the cases against the four officers proceed through the judicial system. For all of us, these images should be a powerful reminder that credit unions serve people – all people. And that we are present – even in the most difficult times. Over the years we have worked together and made significant contributions to our communities; you have grassroots organized, volunteered, shared acts of kindness – these strengths and values of our movement can hold us up – even when the world seems to be falling apart.
Your work to help members during a pandemic and now civil unrest – and the economic impacts that will follow - is vitally important and a great example of how credit unions can be a force for good in the world. I look forward to continued conversations on how we can cooperatively leverage our unique business model to serve all people, and instigate real and positive change in our communities.
Together, we will make a difference!
Mark D. Cummins
President & CEO, Minnesota Credit Union Network
In light of the Covid-19 crisis, the Minnesota Credit Union Awareness Initiative shifted strategy to focus on how credit unions are supporting their members and communities through the pandemic. This includes paid Public Service Announcements on web, social media and radio running throughout Minnesota. This strategy will continue through the end of June.
On the national level, CUNA paused the digital Open Your Eyes to a Credit Union® ads as of March 20 due to Covid-19. They have since retooled and calibrated the marketing assets, and are now releasing updated ads into market in several states. Minnesota will begin using the updated marketing assets in July.
Yourmoneyfurther.com remains live, and credit unions participating financially in the Open Your Eyes to a Credit Union campaign have access to social media tools and an updated messaging guide via the Contributor Headquarters portal.
With questions about the Awareness Initiative, contact VP Communications & Engagement Andrea Molnau.
Your team at the Network is diligently working on a new website to better connect you, our members, to the services we provide. The new site will include a new design, easier navigation, and simplified event registration. In addition, members will have access to an updated Member Portal which includes exclusive access to content and more self-service options.
The launch is planned for the week of June 8th.
Please note we will not be publishing the Pulse that week. Members will need to set up a new profile for the site – we will email you an invitation with links and instructions on how to set up your new credentials. Those members currently serving on Network Boards and Committees will also receive instructions on how to access your new group pages.
We invite you to attend a webinar which will provide a virtual tour of the new site and guide to our new Members Only area. There are two options – one webinar for credit union employees on June 16th, and another for our business partners on June 18th. Please register by following the appropriate link below.
New MnCUN Website Walk-Through for Credit Unions – Tuesday, June 16 at 10 a.m. :
New MnCUN Website Walk-Through for Partners – Thursday, June 18 at 10 a.m.
Regulatory and Legislative Updates for credit unions during to COVID-19 pandemic.
MnCUN, CUNA and Leagues wrote to the Small Business Administration (SBA) and the Treasury Friday to seek clarity on Paycheck Protection Program (PPP) loan forgiveness. Credit unions and other lenders need detailed guidance on loan forgiveness as conflicting processes are likely to create problems and lead to litigation:
CFPB: CFPB Issues FAQs on Remittance Transfer Issues Related to COVID-19 – June 2, 2020
The Pulse is MnCUN's newsletter that keeps credit union professionals and board members updated on current news and information.