 We're excited to welcome 7,000 credit union members for Credit Union Day at the Minnesota State Fair!
To celebrate the credit union advantage, we will be hosting several meet-ups throughout the day. Stop by one for a group photo and testimonial opportunities. If you are at the Fair, just look for credit union members with the "Proud Credit Union Member" buttons:
KARE 11 host Alexis Rogers has invited credit union members to fill the barn for the 12:30 p.m. - KARE 11 News at Noon live at the Barn show and will give Credit Union Day at the Fair a shout-out! Please arrive by noon! Follow along on social @MnCreditUnions or the hashtag #CUDayMNStateFair, and see members share why Membership has its Advantages!
The National Credit Union Administration has announced the retirement of Cherie Freed, regional director of the NCUA’s Western Region, effective August 24, 2024.
"Minnesota's Credit Unions thank Cherie for her distinguished service and dedication to strengthening the credit union system," said Minnesota Credit Union Network President & CEO Mara Humphrey. Freed is retiring with over 37 years of service to the NCUA. Prior to being selected as regional director in 2016, she served as the associate regional director for the Western Region. She previously served as the director of supervision and as the loss-risk analysis officer in the NCUA’s Office of Examination and Insurance. Freed began her career in 1987 as an examiner in Phoenix. In 1991, she became a problem case officer and later a corporate examiner. Throughout her NCUA career, Freed received numerous awards and recognition, including Specialized Examiner of the Year, Supervisor of the Year, and the Chairman’s Outstanding Achievement Award for Career Achievement. John Kutchey, regional director for the NCUA’s Eastern Region, will oversee the Western Region until a new regional director is selected. Associate Regional Director Mike Ryan will serve as the Eastern Region’s acting regional director during this transition. The Minnesota Credit Union Network is saddened to learn of the passing of David Douglas. Dave worked for Credit Union Leagues in Iowa, Minnesota, and Oklahoma, where he served as Vice President. He retired from the Minnesota Credit Union League in 1999 and was remembered by staff for his thriftiness and Pontiac Firebird.
View Dave's Obituary. DEED Meeting Updating Paid Family Leave Law Program: The Minnesota Department of Employment and Economic Development has announced its next Small Business Monthly Call meeting on September 10 at 2:00 P.M. Staff from the Paid Leave program, managed by DEED, will present updates on the program, rulemaking procedures, and implementation.
Comment Sought on Joint Data Standards Under the Financial Data Transparency Act (FDTA):On August 2, the Board of Governors of the Federal Reserve System, Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), the Consumer Financial Protection Bureau (CFPB), the Department of the Treasury, the Federal Deposit Insurance Corporation (FDIC), the Federal Housing Finance Agency (FHFA), the National Credit Union Administration (NCUA), and the Office of the Comptroller of the Currency (OCC) issued a proposed joint rule to establish standards to promote interoperability of financial regulatory data across the agencies by establishing common identifiers for entities, geographic locations, dates and certain products and currencies. CFPB Report Finds Large Retail Chains Charging Cash-back Fees to Customers Using Debit and Prepaid Cards: On August 27, the Consumer Financial Protection Bureau (CFPB) published a new report finding Americans are paying tens of millions of dollars in fees to access their own money when getting “cash back” at large retail stores when making a purchase with a debit or prepaid card. CFPB Open Banking Update: In June, the Consumer Financial Protection Bureau (CFPB) issued a new rule to establish data sharing standards related to its Open Banking proposed rule from October 19, 2023.  The Minnesota Credit Unions for Kids Committee has announced the 3rd Annual CU4Kids Topgolf Tournament. Join and support the CU4Kids on Wednesday, October 9, 2024, at Topgolf in Brooklyn Center. Proceeds supports Children’s Miracle Network/Gillette Children’s Hospital in St. Paul. See the CU4KIDS Topgolf Flyer for sponsorship details.
Registration is limited. Deadline is Friday, September 20, 2024. Contact Kim Peterson or Caitlin Brama via email with questions.  Photo of John Manzer As a board member, you frequently craft opinions and make decisions – but how do you stay informed? What do you need to know? What is signal and what is just noise? Additionally, as a member of the credit union system, there are specific ways to consider many issues. As a board member, what trends do you need to keep an eye on? What focus needs to be on the day to day? Let’s discuss. In this highly interactive session, we will cover several pressing topics for board members, discuss best practices, review case studies, and learn from each other. Participants are encouraged to come with topics they are curious about and real-life stories to share.
Audience will leave with a clear understanding of major trends facing the CU System, an understanding of how other credit unions and financial institutions are facing these trends, how these trends could impact their credit union. The session speaker is John Manzer, a seasoned strategic partner and dedicated credit union advocate. His ability to connect with people and ask insightful questions allows John to achieve success with the teams he is on. Over his extensive 30-year career in financial services and the credit union industries, John has forged strong relationships with CEOs, executive teams, and board members. His expertise lies in clarifying strategic visions and fostering alignment among stakeholders, consistently delivering impactful results. Join us and your colleagues at Madden’s on Gull Lake in Brainerd, September 24 - 26. LEAD 24 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 24 Conference page for more information.
“With many retiring legislators and competitive seats across the State, developing relationships and educating candidates is vital in ensuring we have a voice when decisions are being made when the legislature returns next year,” said MnCUN Chief Advocacy Officer Ryan Smith. “The Minnesota Credit Union Network is continuing our tradition of being the strongest advocate for Minnesota credit unions by engaging in a bipartisan way with a wide range of candidates from all corners of the state, ensuring that we have genuine partners at the State Capitol, regardless of the outcomes of the election."
The 2024 election is on Tuesday, November 5th and one US Senate seat and all of Congress and the state House will be on the ballot. If you have questions about where the candidates in your community stand on issues impacting the industry, check out our 2024 Credit Union Voter Guide. Minnesota Housing's First-Generation Homebuyer Loan Program is a downpayment and closing cost loan for first-generation homebuyers. The program offers loans up to $35,000. The program has funding to serve approximately 1,500 eligible borrowers on a first-come, first-served basis.
The Minnesota Credit Union Network supported the legislation that created the program. The following credit unions are participating in the program: Two Harbors Federal Credit Union TruStar Federal Credit Union Magnifi Financial Credit Union Greater Community Credit Union TruStone Financial Federal Credit Union Lake Area Mortgage, A Division of Royal Credit Union Town and Country Credit Union – North Dakota St. Cloud Financial Credit Union Co-op Credit Union of Montevideo Greater Community Credit Union Ideal Credit Union First Community Credit Union – North Dakota For more information on the program, visit Minnesota Housing's website. |
The PulseThe Pulse is MnCUN's newsletter that keeps credit union professionals and board members updated on current news and information. Archives
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