Miracle Treat Day is back! For every Blizzard Treat sold on Miracle Treat Day - Thursday, July 27, 2023 - at participating DQ locations, $1 or more will be donated to Gillette through our partnership with Children’s Miracle Network Hospitals.
 
Jump in on the delicious fun by stopping by a local participating location (find yours at www.MiracleTreatDay.com) for a Blizzard. 

​Each year, the DQ system donates millions to local Children's Miracle Network hospitals, like Gillette, across the U.S. and Canada. All contributions are made in Minnesota and Western Wisconsin help local Gillette patients in your community!  

As your state trade association, the Minnesota Credit Union Network's role is to help the industry as a whole grow market share by creating a favorable legislative environment, easing regulatory burdens, and increasing consumer awareness. MnCUN also provides credit union employees and board members professional development and networking opportunities. 

We are pleased to share our efforts on behalf of credits unions for the first half of 2023 and am excited to build the trade association of the future. Network version 2.0. 

We value our members' continued trust in us, and we appreciate the opportunity to be able to serve credit unions throughout the state.

We are excited to kick off a series of regional events in partnership with our various Chapters throughout Minnesota. New MnCUN President & CEO, Mara Humphrey, along with MnCUN staff, will be traveling around the state to share MnCUN’s vision, gather feedback, and provide updates on current and new initiatives for Minnesota Credit Unions. All credit union employees and directors are welcome to attend. 

​Our first stop is Lakes & Pines on Thursday, August 3, 2023 from 11:00 – 2:00 at Sawmill (5478 Mountain Iron Drive, Virginia MN 55792) Cost to attend is $29 and includes lunch.

Please reach out to Xiong Lee, Director of Engagement, with questions. 

The Network’s Board of Directors represent the interests of credit unions of all sizes from all parts of the state. The Board works together with MnCUN’s President & CEO to ensure that all member credit unions receive high-quality service and that the interests of Minnesota credit unions are promoted both at the state and national level.

​The Network Board met last week to review mid-year financials, receive department and committee reports, and discuss future planning and governance. The Network Service Corporation provided updates on several initiatives including the Employee Benefits Plan, TriState Solutions, and TruLync Medicare Advisors.

As your state trade association, the Minnesota Credit Union Network works to ensure the success, growth and vitality of our member credit unions. To help achieve this goal, MnCUN has established three restricted funds to strengthen our advocacy and awareness efforts on behalf of Minnesota’s credit unions. 

Advocacy Fund – Providing resources to strongly position credit unions on the legislative and political fronts, this fund augments MnCUN’s advocacy efforts.  

Awareness Fund – This fund is focused on increasing awareness and promoting credit unions as the best financial choice for consumers. 

Unity Fund – Past contributions to this fund help defend Minnesota credit unions against harmful legislation, including attacks on the credit union tax exemption. The Network is not actively seeking additional contributions to the Unity Fund at this time. 

The report was sent to CEOs via email and is available on the CEO page of the member portal (log in required).

These funds help create a positive public environment through leadership, political advocacy, education, awareness and regulatory assistance further initiatives that strengthen the credit union industry, and we thank you for demonstrating your strong commitment to the credit union movement by funding these efforts – in addition to the support provided by your MnCUN dues.  

Last Friday, the Minneapolis Star Tribune featured credit unions in a Curious Minnesota article, a community-driven reporting project. The article, titled "Why are there suddenly credit unions 'everywhere' in Minnesota?" notes credit unions proactive approach and personal touch in providing financial services as part of the increase in the number of credit union branches and members: 

"Credit unions have been opening up more branches across Minnesota in recent years, even as the overall number of credit unions has been shrinking. It's a reflection in part of how much more proactive many credit unions have become about growth, expansion and marketing to stay relevant in a competitive industry."

The article also attributes the cooperative model as attractive to new members:

"Credit unions offer many similar services as banks, such as checking and savings accounts as well as auto and mortgage lending. But they are also not-for-profit entities owned by their members. So instead of funneling profits back to shareholders, they redirect them back into the organization by offering perks such as reduced fees or lower rates on loans."

MnCUN CEO & President Mara Humphrey told the Star Tribune: "We've seen an increase in branches in credit unions in Minnesota and also in the number of branches per credit union."

Broader fields of membership and marketing are also attributed to the growth and the article quotes Affinity Plus CEO Dave Larson and SPIRE Credit Union Dan Stoltz. Stoltz.

Stoltz told the Star Tribune, "Credit unions have finally stepped up and said, 'Look, you can't sell a secret,' let's talk about who we are."

"The more success we have, the more we can give back to the members and give back to the employees and the community as a whole," Larson said.

Got news of your own? Send stories, pitches, press releases and published articles to MnCUN Director of Communications Julia Miller.

If you spot the iHeart vehicle while you are out and about this summer, post a photo on social tagging @mncreditunions. ​

Final Rule on Governance Modernization: The NCUA will meet on July 20 to discuss the final rule amending federal credit union bylaws regarding member expulsion implementing the Credit Union Governance Modernization Act (CUGMA), which was signed into law in March 2022. 

Fraud Exception in Reg CC: Section 229.13 of Regulation CC provides six exceptions allowing credit unions to extend the hold period for deposits that carry a higher risk to the institution due to their size, collectability, or the member’s deposit history (or lack thereof) and do not apply to cash or electronic payments. ​

Senators Dick Durbin, D-Ill., Roger Marshall, R-Kan., and Peter Welch, D-Vt are expected to introduce this week an amendment to the Senate version of the FY2024 National Defense Authorization Act (NDAA). ​