On Monday, in accordance with state law requiring Governor Walz’s most recent extension of his peacetime emergency order to be affirmed every 30 days, the Minnesota legislature convened for its fifth special session since their regular legislative session ended in May.

The state House took up and unanimously passed a bill that permits video conferencing to satisfy the requirement to appear personally before a notarial officer for certain conveyances.

The bill deems that the requirement to appear in person is met if both the notarial officer and the signer are both in Minnesota and communicate via video conference. The bill also requires that the notarial officer meet several requirements, including:

• Taking reasonable steps to ensure the integrity, security, and authenticity of the audio and video record of the performance of the notarial act
• Maintaining a backup of the audio and video record required in paragraph and protecting the record and the backup from unauthorized access or use.
• Maintaining the recording for at least ten years after the date of the transaction or proceeding.

​The Senate is expected to take up and vote on the same bill language on Thursday. Should it pass, this legislation would be in effect during the Governor’s peacetime emergency and for 60 days after its eventual expiration. The full text of the bill can be found on the Office of the Revisor of Statues website.

Credit unions have played a critical role in helping 120 million Americans - and 1.9 million Minnesotans  - manage the financial impact of the pandemic and it’s imperative we share this story with lawmakers at the 2021 CUNA Governmental Affairs Conference, March 2-4.

The Minnesota Credit Union Network is coordinating virtual visits with Member of Congress for CUNA GAC that give you the opportunity to meet with our state’s representatives and share how your credit union is making a difference for your members. Information will be posted on the mncun.org CUNA GAC page.

With a new Congress, and a host of new leaders in Washington this spring, this our chance for us to set the narrative on what people-over-profit means for advancing our communities. Please  join us at this very important event.

FinCEN Issues Advisory on Unemployment Insurance Fraud
The Financial Crimes Enforcement Network (FinCEN) issued an Advisory on Unemployment Insurance Fraud During the Coronavirus Disease 2019 (COVID-19) Pandemic.
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PolicyWorks Adds Marijuana Related Business Policy to PolicyAid
As of October 5, 2020, PolicyWorks added a Marijuana Related Business Policy to PolicyAid. 

NCUA Publishes Final Rule Temporarily Amending Appraisal Requirements
The Final Rule defers the requirement to obtain an appraisal or written estimate of market value for up to 120 days following the closing of certain residential and commercial real estate transactions, excluding transactions for acquisition, development, and construction of real estate. 

Economic conditions and balance sheets have changed dramatically in the past 12-months and positioning for 2021 and beyond will be critical. Join the Baker Group for a free webinar on Thursday, Oct. 15 at 10:30 am.
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Topics:

• Credit Union Industry Trends Thru Q2 2020 – Margin Compression and Building Cash Positions — Calm Before the Storm?
• Potential NCUA Premium Assessment – What Stabilizing the NCUSIF Could Mean for Your Earnings
• Investment Strategies for 2020/2021 – Focus on Income and Safety
• Demystifying Taxable Municipal Bonds – Regulatory Requirements and Relative Value Clearly Explained
• Government Guaranteed Loans – Opportunity for Yield in a Low Rate Environment 

Join the Oct. 28 webinar to learn the basics of Health Savings Accounts and their tax benefits. This session will cover
how an HSA compliant plan works, the advantages of such a plan, the tax advantages delivered by pairing an HSA compliant plan with an HSA account, and more. UCare’s Associate Vice President of Sales, Brian Eck, will be sure that all of your questions are answered so you are able to confidently assist your members who have questions about this type of plan and account.

Last year, UCare and MnCUN teamed up to connect Minnesotans with individual and family health plans that are compatible with health savings accounts (HSAs) to credit unions. HSA compatible plans were the most popular plan type for UCare in 2020, yet they found that the majority of people with those plans did not have an accompanying account at a financial institution.

For 2021, UCare is offering Minnesota credit unions a toolkit that includes an infographic, guide, blog post and video that promote HSA to members and prospective members. Additionally, UCare also offering to co-host webinars with credit unions to answer member questions. UCare has conducted focus groups and found that consumers had a lot of questions about health insurance, particularly these type of plans.

The webinar is free to MnCUN Members. Webinar link and credentials will be provided upon registration.
For more details on the partnership visit, https://www.mncun.org/health-savings-account-finder.html

Wed, Oct 28, 2020
10:00 AM - 11:00 AM 

Registration Details

At this year’s Virtual Annual Conference, hear from our lineup of forward thinking, inspirational speakers as they share what it takes to address the critical issues of today and emerge from 2020 even stronger.

7 Ways Highly Profitable CU's Calculate the Value of DEI
Ronaldo Hardy is a powerhouse speaker and executive with the personal mission, "To change the world by building people that change the world." As a purpose-driven, high-results CEO Ronaldo led Southwest Louisiana FCU (SWLFCU) to become a certified CDFI and $950,000 CDFI Award-Winner working with CU Strategic Planning.

Many credit unions are embracing the social responsibility of building diverse, inclusive, and equitable workplace cultures, but did you know it can positively impact your bottom line too? In this session, you will learn the seven ways highly profitable credit unions calculate the ROI on Diversity, Equity, and Inclusion. You'll also learn practical ways Diversity, Equity, and Inclusion can bring meaningful impact to the communities you serve.
 

U.S. Economic Outlook & Its Impact on Credit Unions
Steve Rick, CUNA Mutual Group, Steve is a director and the chief economist for CUNA Mutual Group. He is an economic researcher, analyst and forecaster with an expertise in consumer markets and the credit union industry.

The COVID-19 pandemic recession will be the biggest economic event in our lifetimes. Interest rates are the lowest in U.S. history and the unemployment rate is the highest in modern history. Explore the possible depth and duration of this economic crisis and what impact it will have on credit union balance sheets and income statements for the next two years.

​With the General Election a few weeks away, now is the time to remind members and credit union employees why being engaged in advocacy is essential to protecting our industry and help grow the number of GREAT members at your credit union.

During the COVID-19 pandemic, credit unions provided assistance to meet their members’ changing needs. Support from elected officials is critical to ensure that Minnesota credit unions can continue to have a positive impact across Minnesota as the economy recovers. If credit union advocates don't vote, credit unions don't count.
 
The Network has a GREAT toolkit to help engage new staff and members in this effort. MnCUN’s goal is 100% of credit union employees in Minnesota signed up for GREAT, as well as 2% of credit union members. We appreciate your help to ensure that we can have a big impact.
 
Additionally, the CUNA Member Activation Program (MAP) gets your members engaged in credit union advocacy. MAP provides plug-and-play content, you deliver the content to members, and your members discover ways to play a role in the future of their credit union. 
 
Credit unions members and staff can check voter registration status, find polling location and early and absentee voting option on the creditunionsvote.com website.

NCUA will host a webinar on financial inclusion and minority depository institutions (MDIs) on Oct. 21, starting at 2 p.m. (ET). Registration is now open for this webinar, “Pathways to Consumer Financial Well-Being: The Importance of Financial Inclusion and Minority Depository Institutions.” 
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This webinar is open to consumers, credit unions and parties interested in working with credit unions to expand access to safe and affordable financial services in underserved communities.

Eight new Nacha rules are coming!  With effective dates ranging from January 2, 2021, to September 17, 2021, you’d best be sure you know which rules are effective on which dates and how will they impact your operations.  Get clarity on the changes during this timely webinar.

Thursday, Nov. 19 at 2:00 PM 

After This Webinar You’ll Be Able To:

• Understand the new Same Day ACH windows and availability requirements
• Calendar the new timeframes for making ODFI authorization warranty claims
• Properly format a reversal
• Define a standing authorization
• Recognize the acceptable formats/methods for obtaining a consumer’s statement of unauthorized debit

 
Webinar Details
Nacha’s voting membership recently passed eight new amendments to the Nacha Operating Rules that will go into effect in 2021.  The new rules include:

• A time limit for an RDFI to make a claim against the ODFI’s authorization warranty – effective June 30, 2021
• Two rules addressing improper use of reversals – effective January 2, 2021, and June 30, 2021 
• A suite of meaningful modernization rules designed to improve and simplify the ACH user experience – effective September 17, 2021

 
The rules are intended to facilitate adopting new technologies and channels for the authorization and initiation of ACH payments, reduce barriers to ACH use, provide clarity and consistency for certain ACH authorization processes, and reduce some of the ACH authorization administrative burdens.  All this is in addition to the changes to Same Day ACH and account validation rules that were already set to be implemented on March 19, 2021.  This must-attend session will provide clarity about what the new rules are, when you should be ready for them, and how they will impact your financial institution.
 
Who Should Attend?
This informative session is designed for ACH operations personnel, compliance and audit staff, AAP candidates, and management.

This CU Webinar Network training is available live and on-demand, for details visit: 
https://cuwebtraining.com/registration-options