The Pulse |
 Tomorrow, at the Great Minnesota Get Together, credit unions from across the state will host the life-sized board game, "Go Big or Go Broke®" at a day-long event in Dan Patch Park in partnership with UCare.
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. This event is part of the Awareness and Consideration campaign and is supported by mobile and out of home ads throughout the State Fair and a 12-day feature with iHeart media. Both Saturday’s of the Fair, MnCUN staff will host a live Go Big or Go Broke trivia game at 2:00 p.m. at the K102 booth. Thank you to the Minnesota Credit Unions who provided staff and prizes for the initiative! Accentra Credit Union City & County Credit Union First Alliance Credit Union FIRST PACE Credit Union Hiway Credit Union Ideal Credit Union Magnifi Financial Credit Union Members Cooperative Credit Union Mid Minnesota Federal Credit Union Minnesota Valley Federal Credit Union North Memorial Credit Union Northern Communities Credit Union Royal Credit Union SouthPoint Financial Credit Union SouthPoint Financial Credit Union SPIRE Credit Union TopLine Financial Credit Union If you are at the Fair - stop by and join in the fun! This summer, MnCUN partnered with Coopera to offer a series of webinars that connected the MnCUN Multicultural Opportunity Report with actionable examples for credit unions and communities to grow and prosper. Presented by Coopera, a full-service multicultural analytics and consulting firm, the series included three, one-hour virtual sessions: Financial Wellbeing from a Multicultural Perspective, Opportunities for Credit Unions to Serve Growing Multicultural Populations in Minnesota, and How can we do better? Addressing and closing the Wealth Gaps in Minnesota.
PowerPoints from each session are available for MnCUN member credit unions under the Resources to Improve Member Engagement and Attract Prospective Members section of our online DEI Resource page. Please note log in is required. Credit unions can also access the full MnCUN Multicultural Opportunity Report. With questions, reach out to Andrea Molnau, VP Communications & Engagement. Join the upcoming Training & Development Peer-to-Peer (P2P) on Thursday, September 29 starting at 1:00 p.m. via webinar and video conference.
The fall Training & Development P2P session will be an open format conversation with credit union peers around credit union training hot topics including remote/virtual staff development, Learning Management Systems (LMS), and sales training resources. This event is meant to be an opportunity to meet and share with one another. Stay tuned for further announcements and updates! For a list of all P2P sessions, visit our Peer-to-Peer (P2P) webpage. With questions, please contact MnCUN Director of Engagement Ben Hering by email or by phone at 651-288-5519. By Dennis R. Bauer, EVP and Chief Financial Officer, Ideal Credit Union  This year marks the 90th anniversary of the Federal Home Loan Bank System. As a proud member of FHLB Des Moines, Ideal Credit Union congratulates the System, and we celebrate our partnership with the FHLBanks for playing a pivotal role in the way we have served the families and businesses in our communities for over 96 years.
As a member-owned financial institution, our mission is to deliver financial solutions that help our members live their Ideal Life. Our partnership with the FHLBanks empowers us to meet the funding needs of our community by providing access to liquidity. If this access was not available, it could potentially hinder our ability to make loans, and we would have to scale back on many services that allow our credit union to give back that make a real difference in the community. Let me share a few examples... During the pandemic, Ideal Credit Union turned to FHLB Des Moines to assist us when our members sought to delay their loan payments. So much was unknown as many businesses shut down and Ideal’s members were concerned about losing their jobs in addition to being concerned that their income could be being negatively impacted. Ideal gave members the opportunity to defer payments and save money so they could have a cushion for their families and some peace of mind. We were proud to empower our members with payment options that met their financial needs at the time. Our partnership with the FHLBanks has also inspired Ideal Credit Union to be creative in how we develop and provide products to first-time home buyers. Research indicates that the high cost of a down payment can be a key barrier to home ownership for many people. Enter the FHLB Des Moines Home$tart Program, a down payment assistance program that allows us to provide members with the funds upfront so they can become successful homeowners. We’re especially proud to utilize the Home$tart Program for our Community Heroes Mortgage Program, a program that gives us the opportunity to say “thank you” to those that have dedicated themselves to the wellbeing of others, including fire fighters, teachers and nurses. This program, which provides a special 1% down payment benefit, would not be available if not for FHLB Des Moines. With access to the FHLBanks’ safe and reliable liquidity, Ideal Credit Union has been able to expand our mortgage lending while also offering volunteer and educational programs that benefit the broader community. On the volunteer side, our employees have created programs that support veterans, students, the homeless and the hungry, among others. In the area of education and financial literacy, we offer webinars on topics that range from Buying Your First Home, Selling Your House, Investments and Retirement Planning, Running Your Business, to Investing as a Woman and Cybersecurity Awareness. It’s been very rewarding for all of us at Ideal Credit Union to participate in and provide these programs to our members and to the markets in which we serve. It is interesting that while the benefits of our partnership with the FHLBanks impact so many in our community, not everyone has heard of FHLB Des Moines or the FHLBanks. The Banks are a critical element of the nation’s financial infrastructure and their unique business model has ensured they are here for us and Minnesota communities in all economic cycles – in both critical and stable times. That is the purpose of the System. Without the FHLBanks, Ideal Credit Union – and more importantly, the communities we serve – would not be as vibrant or prosperous as we are today. This article is provided through MnCUN's Strategic Alliance with FHLB Des Moines. For more information, visit the Solutions Directory. The Foundation Scholarship Council (FSC) has officially launched the 2022-23 scholarship. This year, the council will be awarding $16,000 in $1,000 individual scholarships - providing 16 Minnesota credit union members the opportunity to cut the cost of college. Any member of a Minnesota Credit Union Network affiliated credit union pursuing post-secondary education in the fall 2022/spring 2023 OR is a high school senior graduating in 2023 is eligible to apply.
The 2022 scholarship question is: With rising costs of living, how has this impacted your financial goals and how can your credit union help you achieve them? (Essay tips: Please share your personal story; use the specifics you identified in the preliminary questions to write your essay) Additional Notes:
Help us make this a record year for applications! Promote the scholarships on your website, social media, electronic messaging centers, in branch posters/postcard handouts, newsletter articles, and more! The link to the application, as well as a media kit for your use in promoting the credit union scholarships, is available on the FSC Page. Another way to get the word is to contact local high school guidance counselors' offices and notify them about the credit union scholarship program through the FSC. All applications must be submitted no later than November 30, 2022. The Foundation Scholarship Council is a sub-committee of the Minnesota Credit Union Foundation. This benefit is available to credit unions affiliated with the MNCUN. The FSC raises money through donations from credit unions, vendors, individuals, and other companies to be able to offer scholarships for your credit union members. Contact us: scholarships@mncufoundation.org The GAC scholarship was created by the Minnesota Credit Union Foundation to provide financial assistance to credit union staff and/or volunteers who are members of the Minnesota Credit Union Network and wish to participate in CUNA’s Governmental Affairs Conference.
Scholarship monies allocated to applicants may be used for the cost of the conference registration and to help cover some travel expenses. The Foundation will be offering multiple $2,000 scholarships. Preference will be given to applicants who have not attended GAC, are from credit unions under $100 million in assets, and have shown engagement with MnCUN and credit union advocacy. Applications are now available on the Grant Programs page and the deadline is Nov. 30. With questions contact Andrea Molnau, MnCU Foundation Executive Director.  Join us September 14-16 at Maddens on Gull Lake, Brainerd for LEAD 22 - the Minnesota Credit Union Network’s rebranded Fall Leadership Conference. This in-person event will feature industry experts providing insight and relevant information on top credit union issues.
Conference Registration Deadline – Wednesday, August 24, 2022 With educational sessions and recreation activities, this event provides an opportunity to come together with your credit union colleagues for learning, networking, and fun! More information, schedules, lodging information and registration links are available online at mncun.org/lead22. Learn more about the outstanding programs, new initiatives and well-deserved recognition received by your peers recently. Got news of your own? Send stories, pitches, press releases and published articles to MnCUN Director of Communications Julia Miller.
How Altra's Myriad of Youth Financial Wellness Programs Benefits Its Community... 'It was an emotional moment': Twin Cities nonprofit gets $1.9M donation from MacKenzie Scott (Wings Credit Union) NCCU Wins Statewide Member Service Award SPIRE’s Dan Stoltz Named AARP 50 Over 50 Honoree North Star Credit Union Announces New Branch in Mountain Iron Royal Credit Union Foundation Announces $150,000 Gift To Carpenter St. Croix. Valley Nature Center Magnifi Financial Launches New CUSO, Ultum Group  Join the Minnesota Credit Union Network for the CUNA Governmental Affairs Conference (GAC). The credit union industry’s premier advocacy event returns to Washington, D.C., February 26 to March 2, 2023.
To make a reservation in MnCUN's room block, visit the MnCUN GAC page (log in required) for instructions. We'll meet with our elected representatives to tell them how their lawmaking affects the 2 million credit union members in Minnesota. The conference will also feature a wide range of informational breakout sessions, training, and resources designed to help credit unions advance their communities and improve financial well-being for all. Registration information is available at cuna.org/gac. Contact MnCUN Director of Governmental Affairs, Ryan Smith, with questions. |
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