The Minnesota Credit Union Foundation held its Annual Meeting on July 13, 2023.
Board Chair Doug Hallstrom, of Minnco Credit Union, reported on the efforts of the Foundation in 2022. Focused on financial education and professional development initiatives, the Minnesota Credit Union Foundation provides the resources for credit unions and communities to prosper and thrive. The Foundation’s efforts focus on Financial Education for members and communities, Professional Development for credit union employees, and Disaster Relief for the wider credit union community. The following highlights the Foundation’s efforts in 2022:
The Board Election was held. Doug Hallstrom, Minnco Credit Union was reelected to his 3rd three-year term; and Mary Hansen, Mayo Employees Federal Credit Union, was elected as the MnCUN Board designee for a 3-year term. As a 501(c)(3) tax-exempt charitable organization, the Foundation is dependent on the support of Minnesota credit unions, employees, partners, and community organizations. Visit mncun.org/foundation for a copy of the 2022 Annual Report. MnCUN is pleased to welcome Cindra Kamphoff as our keynote speaker for LEAD 23 – MnCUN’s Fall Leadership Conference. Cindra Kamphoff, Ph.D., CMPC, PCC, is an award-winning keynote speaker and certified professional coach for leaders, professional athletes, and championship teams. Her clients range from Verizon Wireless, Target, and Walmart to the Minnesota Vikings. She has provided mental training for the Minnesota Vikings for the last four years, working one-on-one with the players. Cindra worked with the United States Olympic Track and Field team while they were in Tokyo working with the athletes one-on-one to help them train their minds. She is the author of an Amazon bestseller, "Beyond Grit: Ten Powerful Practices to Gain the High Performance Edge" and a recent second book, "Beyond Grit for Business: How to Boost Performance, Leadership and the Bottomline". We hope you can join us at Madden’s on Gull Lake in Brainerd, Wednesday, September 13 through Friday, September 15, 2023. LEAD 23 will focus on all things Leadership, featuring industry experts providing insight and relevant information on top credit union issues. Sessions throughout the event are designed for both credit union professionals and board members. With educational sessions and recreation opportunities, this event provides an opportunity to come together in person with your credit union colleagues for a conference of learning, networking, and fun! Registration and Sponsorship opportunities are now open. See our LEAD 23 Conference page for more information. Please take a few minutes to complete this important survey regarding your membership with the Minnesota Credit Union Network. Your responses are anonymous, and the aggregate feedback will be used by the leadership and board of MnCUN as part of its strategic planning process.
Please provide your response by Friday, July 21. This survey will take 5-10 minutes of your time and we welcome all comments. Thank you, in advance, for your input! Contact Andrea Molnau, VP Communications & Engagement, with questions. The Arrowhead Chapter is hosting an education and networking opportunity open to credit unions from other chapters. The Arrowhead Chapter and the Credit Union Investment Strategy Group of Oppenheimer & Co., Inc. is hosting a one-day Economic Update and Roundtable Discussion.
Date: Thursday, August 10 Target Audience: Credit Union CEOs, CFOs, and other CU Management Participants Cost: FREE Location: Members Cooperative CU, West Duluth Facility 4628 Mike Colalillo Drive Duluth, MN Time: 10:00 am - 11:00 am - Chapter Roundtable Discussions 11:00 am - 2:30 pm - Economic Sessions & Lunch Lunch: Lunch is included at no cost (courtesy of the CU Investment Group) RSVP by August 1 to: Doug Wolf, President/CEO of Northwoods CU, at dwolf@northwoodscu.org. Education Session Topics*: Part I: The Current Economic and Interest Rate Environment
*could have slight adjustments if markets change MnCUN to Host Legal & Compliance Meetings: As part of the Minnesota Credit Union Network's work to build the trade association of the future, Network 2.0, we are pleased to announce a new outreach program bringing legal and compliance meetings to our members throughout the state.
Recreational Marijuana Law and Credit Union Implications Webinar: Join MnCUN on July 27 starting at 2:00 p.m. Can Minors Vote at Credit Unions Annual Meetings? NCUA Simplified CECL Tool Updated: The National Credit Union Administration released the June 2023 update of its Simplified CECL Tool. Rep. Adam Schiff, D-Calif., has introduced H.R. 3928 which would increase the level of insurance for commercial deposits at banks and credit unions. Those institutions would be required to pay higher assessments in exchange for that increase in insurance.
The FDIC has recommended that the deposit insurance system be changed to increase the insurance level for transaction accounts. The current deposit insurance system may not be working well for accounts whose balances fluctuate frequently based on receipts, payments, payroll, and other transactions. CUNA issued a letter requesting that if Congress increases the deposit insurance for banks insured by the FDIC, it should do the same for credit unions insured by the NCUA. Members with accounts for their small and medium sized businesses that more frequently reach out to their community credit union for lending. These member businesses enjoy the service and stability of doing business with credit unions without added costs. The traditional model of fixed deposit insurance may not be the best way to insure such accounts currently under review by the agency as a result of recent bank failures. House Financial Services Chairman Patrick McHenry (R-NC) and House Republican have repeatedly expressed skepticism at about the need for increased insured account levels and action on this bill is unlikely at this point, but MnCUN staff will monitor any developments. The Tristate Mentor Match is a 12-month program designed to build, grow, support, and inspire credit union professionals in their careers and commitment to the Credit Union Movement. This program is a partnership among the Minnesota Credit Union Network, Montana’s Credit Unions and the Wisconsin Credit Union League to expand our reach and bring our collective members a rich and diverse opportunity to network and grow. Applications are now open for both mentees and mentors. “This was my first experience mentoring an individual in a structural format. I felt like my own leadership skills increased as a mentor - it was like a two-way street. I gained new perspectives each time we connected, and I can honestly say this experience has changed the way I look at myself as a leader. I feel like I became more motivated in my own role. My mentee grew in her role and was promoted in the process! Serving as mentor is an opportunity to gain satisfaction giving back to your work community and provides yourself a deeper appreciation and pride in what you do. I wholeheartedly recommend this experience!” Kathy Harrington, President, Heartland Credit Union The deadline to apply is August 18, and the program kicks off in September. More information is available on our online mentorship page. Please reach out to Andrea Molnau, VP Communications & Engagement with questions. |
The PulseThe Pulse is MnCUN's newsletter that keeps credit union professionals and board members updated on current news and information. Archives
May 2024
Categories
All
|