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Minnesota Department of Commerce Update: MnCUN recently met with the Minnesota Department of Commerce Director of Credit Unions, Aeton de Long-Hersh, regarding the work of the Model Bylaws Subcommittee and the holding of Annual Meetings of Members pursuant to Article III of the state model bylaws.
CFPB Guidance Against Overdraft Fees Without Consent: On September 17, the Consumer Financial Protection Bureau (CFPB) published guidance to help federal and state consumer protection enforcers stop financial institutions from charging overdraft fees based on phantom opt-in agreements. NCUA Board Meeting and CTR Form Renewal: The National Credit Union Administration (NCUA) Board will meet on September 19. Join the CREW Young Professionals for "Coffee with the CREW" on Wednesday, October 23 at 9 a.m. This series focuses on providing credit union young professionals with continued opportunities for networking and collaborating to help further knowledge and professional growth within the industry.
This meet-up will be facilitated by Trina Hoff, President and CEO at Northern Communities Credit Union. She will share insights about her career path and discuss how she has remained inspired throughout her journey in the credit union industry. All aspects of this session have been created to encourage discussion and share insights among facilitators and attendees. Come to the meeting with your webcam on and ready to actively participate throughout this session! With questions, please contact Xiong Lee, MnCUN Director of Engagement Ahead of the graduation of this year's cohort of MnCUN’s Trailblazers Executive Readiness Training program next week at LEAD 24, we continue highlighting the credit union professionals participating in the program's third year. MnCUN’s Trailblazers Executive Readiness Training program is a 12-month program designed to accelerate executive-level leadership skills and build credit union-specific knowledge needed to succeed in our industry. Also at next week's LEAD 24 conference, the 2023-2024 cohort will present a strategic plan based on a real credit union and will share learnings from the leadership, operations, financial and strategy modules during a breakout session.  Bottom Left: Adam Daoust, Top Right: Priscilla Xiong Adam Daoust, AVP-Business Lending, Minnesota Power Employees CU,
Why have you chosen a career in credit unions? I chose to be in the business lending field in a local credit union because I am passionate about building meaningful connections with our members and being involved in the community. I enjoy being a small part of many businesses in our community and seeing them grow and succeed. How do you think the Trailblazer program will impact your career? The Trailblazer program will impact my career by building strong connections with other credit unions in the area and enhancing my leadership skills to help find more strategic and effective solutions to problems. What have you enjoyed most about the program? I most enjoyed the many presentations that were provided during the course. Many of the presentations gave insightful information on topics within the credit union I don't deal with on a daily basis. Priscilla Xiong, Lending Officer/Marketing Manager, Teamsters Credit Union Why have you chosen a career in credit unions? The credit union movement simply aligns with my personal values. My passion lies in helping people, so "members helping members" is what it's all about at the end of the day. I love being a financial resource and helping people achieve their financial dreams. The positive impact and relationships developed are the most fulfilling piece of my career. How do you think the Trailblazer program will impact your career? The program itself has helped me gain insight into strategic decisions, credit union operations, and leadership skills that will hopefully create opportunities in the future - whether it's a new project or a career advancement - I'll be ready for it! What have you enjoyed most about the program? I've enjoyed networking and the connections that I have made. Being able to collaborate with credit unions across Minnesota of all sizes and sharing our knowledge has been invaluable.  Join the 3rd Annual CU4Kids Topgolf Tournament on Wednesday, October 9, 2024, at Topgolf in Brooklyn Center. Proceeds supports Children’s Miracle Network/Gillette Children’s Hospital in St. Paul.
Registration is limited. Deadline is Friday, September 20, 2024. View the CU4KIDS Topgolf Flyer for more details and sponsorship opportunities. Contact Kim Peterson or Caitlin Brama via email with questions. Individual Professional Development Grants from the Minnesota Credit Union Foundation are available to staff and directors for education and training in order to sustain the credit union movement. The grant applications open in the fall on an annual basis – with awards for programming the following year. Grants may be awarded by special request throughout the rest of the year on a first-come, first-served basis. 2025 Professional Development Grants will be open for application Sept. 11 - Nov. 15, 2024. The Foundation Board will finalize awards and notify recipients by Dec. 31, 2024.
2025 Eligible Professional Development Grant Categories
For more information on these grant opportunities visit mncun.org/apply-for-a-grant. Please note the Small Credit Union Technology Grant, Financial Education Grant, and Financial Inclusion Grant opportunities will continue to be available year-round. Join us for an educational webinar on Cannabis Banking! This session will feature presentations from two leading experts: Robert Hoban, a renowned cannabis law attorney with extensive experience in cannabis banking issues, and Radhika Sheth Lipton, CEO of RADD, LLC, a company specializing in cannabis banking solutions for financial institutions. Both presenters have been involved since the early days of cannabis legalization and have deep insights into the 24 states that have legalized commercial cannabis.
Learn about the legal and regulatory challenges your credit union will need to address in your policies, whether you choose to offer cannabis banking services or not. Date: Thursday, October 17 Time: 1:00 PM - 2:30 PM Cost: Free Please contact General Counsel, Dan Le [email protected] or Xiong Lee, Director of Engagement [email protected] with any questions. The Minnesota Credit Union Network’s (MnCUN) Political Involvement Committee recently voted to endorse U.S. Representative Angie Craig in the 2nd Congressional District race and U.S. Representative Tom Emmer in the 6th Congressional District race. The Political Involvement Committee provides input and recommendations on legislative efforts at the state and federal levels.
U.S. Representative Angie Craig - 2nd Congressional District "Rep. Craig is committed to protecting credit unions’ ability to help their members and communities so everyone can have access to financial wellness,” said MnCUN Chief Advocacy Officer Ryan Smith. “We wholeheartedly endorse her re-election campaign and urge all supporters of credit unions in the 2nd District to vote for her in November." Minnesota Credit Union Network cites Craig’s historical support of the credit union mission and for highlighting the importance of credit unions during a floor speech at the beginning of this Congress for backing her re-election bid. “Credit unions’ mission values consumers over profit and have a history of empowering the middle-class, from farmers to first-generation homeowners,” said Craig. “Credit unions are a vital part of our local community. I am proud to have earned the endorsement of the Minnesota Credit Union Network so we can all thrive for generations to come.” U.S. Representative Tom Emmer - 6th Congressional District “We are proud to have a credit union champion in Congress that fights for their ability to serve credit union members and local communities,” said MnCUN Chief Advocacy Officer Ryan Smith. “We fully support his re-election efforts and encourage all credit union advocates in the 6th District to vote for him.” MnCUN highlights Congressman Emmer’s support of the Credit Union Governance Modernization Act and the Credit Union Board Modernization Bill. Both bills aim to support credit unions and their members. “Consumers and small businesses have a great partner with credit unions with local and Main Street-focused financial services,” said Congressman Tom Emmer. “I am honored to have the endorsement of the Minnesota Credit Union Network and will remain committed to fostering a fair marketplace, enabling credit unions to thrive.” Hike the Hill, organized collaboratively this year with our Tristate partners, Montana and Wisconsin, gets underway today and credit union advocates will meet with lawmakers at the U.S. Capitol tomorrow, Sept. 12. Contact MnCUN Chief Advocacy Officer Ryan Smith with questions. FinCEN Issues In-Depth Trend Analysis for Check Fraud Related to Mail Theft: On September 9, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Financial Trend Analysis (FTA) on mail theft-related check fraud incidents based on Bank Secrecy Act (BSA) data filed in the six months following FinCEN’s issuance of its 2023 alert on this same topic.
Ahead of the graduation of this year's cohort of MnCUN’s Trailblazers Executive Readiness Training program in September, we will highlight the credit union professionals participating in the program's third year. MnCUN’s Trailblazers Executive Readiness Training program is a 12-month program is designed to accelerate executive-level leadership skills and build credit union-specific knowledge needed to succeed in our industry.
Jacob Lies, Director of Retail Services, Farm Credit Employees FCU Why have you chosen a career in credit unions? I started on the bank side and can see a huge difference in vision on the credit union side of things and won't be turning back! How do you think the Trailblazer program will impact your career? It has helped me see all sides of how a credit union operates and just gives so much more perspective of what happens behind the scenes. What have you enjoyed most about the program? Being able to meet new people in the CU space and find out more about the different roles that make an impact in the industry. Morgan Mitchell, Compensation & Benefits Manager, City & County Credit Union Why have you chosen a career in credit unions? I have chosen a career in credit unions because of their member-focused approach, community values, and commitment to financial inclusion. I am passionate about making a positive impact on people's lives and knowing that the organization I work for does so by providing financial solutions and guidance allows me to align my values with my career. How do you think the Trailblazer program will impact your career? I think that the Trailblazer program will positively impact my career by enhancing my industry knowledge, leadership skills, and network ultimately enabling me to make a greater impact on those working with and around me in the credit union industry. What have you enjoyed most about the program? I have enjoyed the ability to learn from other credit union professionals on the varying credit union functions outside of my current scope as compensation & benefits manager. I have also enjoyed the ability to learn, grow, and network with other peers in the credit union industry. Jon Smale, Branch Manager, Heartland Credit Union Why have you chosen a career in credit unions? Better work/life. How do you think the Trailblazer program will impact your career? Better knowledge and understanding of the financial industry and higher-level discussions. What have you enjoyed most about the program? Meeting my fellow cohorts and the educational experience from leaders in the industry. 2024-2025 Cohort Announced |
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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