The Pulse |
 Once again in 2022, Minnesota Credit Unions have remained highly visible related to election coverage and dialogue across the state.
The Minnesota Credit Union Network has been highly engaged in meeting with candidates for office, talking with legislative leaders in both parties and generally working to ensure that, whatever the partisan makeup of the state legislature looks like next year, credit unions will continue to enjoy strong support for our issues. “Our election activities did not just start this week or this month but last year,” MnCUN Chief Advocacy and Engagement Officer Mara Humphrey said. “The Political Involvement Committee approved a thorough election plan in December of 2021 that included candidate communication, political contributions to both individual candidates and party caucuses and a candidate survey to be distributed to all credit union staff and GREAT advocates. It's a comprehensive strategy to help ensure that credit unions are ideally placed to enact our legislative agenda at the state Capitol for the 2023-24 session.” MnCUN staff have:
Minnesota Credit Unions media engagement includes the following events, partnerships and activations throughout the state in the races for constitutional offices, congressional and state legislative offices.
Minnesota Credit Unions are also the exclusive sponsor of WCCO Radio’s Behind the Ballot Series and Election Night Coverage, which includes news stories in the final two weeks and election day coverage. The 2022 Credit Union Voter Guide is a compilation of responses from candidates for statewide, Congressional, and legislative office on their stances on credit union issues We are continuously updating the guide as we get closer to the November election. If you are unsure of which elected officials represent your credit union, visit the GREAT website. Early voting for the November General Election is now underway!  Minnesota was the first state to launch the national Credit Union Consumer Awareness Initiative in 2019 and since then, has seen both increased average membership growth and consumer familiarity of credit unions. The campaign’s digital-first strategy positions research-proven messages to put credit unions at the center of consumer consideration when needing a financial service.
In 2022, the YourMoneyFurther initiative shifted to a consideration-and-conversion strategy, upgraded to a more vibrant brand, and expanded opportunities for credit unions to capture qualified leads. Based on the success of the program and feedback from credit unions, the 2023 initiative plans to connect consumers more directly and measurably to participating credit unions, while continuing to create consideration and awareness overall. This change is also allowing for a change in pricing structure, moving away from a contribution/donation model to a participation and service delivery model. Join MnCUN and CU Awareness on Monday, Oct. 31 at 1:00 p.m. to hear an update on the Minnesota initiative and learn more about the changes ahead. We will be joined by Christopher Lorence of CUNA Awareness, and Blois Olson of Fluence Media. Content will include current results of 2022 strategies, and an overview of plans and new pricing options for 2023. The webinar is free and will be recorded. We do ask that you please register. With questions, contact Andrea Molnau by email or 651-288-5527. The Minnesota Credit Union Network, in conjunction with the Regulatory Review committee, weighed in with the Federal Housing Finance Agency (FHFA) on the importance of the FHLB system.
FHFA announced in August the "FHLBank System at 100: Focusing on the Future" initiative - two public listening sessions and a series of regional roundtable discussions through which the FHFA will engage the Federal Home Loan Bank System's stakeholders to position the System for the future. The comment letter highlighted the important role the FHLB system provides for liquidity and the secondary mortgage market.  The Credit Union National Association's Governmental Affairs Conference is the largest credit union advocacy gathering of the year. When credit unions arrive en masse in Washington D.C., there is a palatable energy one cannot ignore.
The Cooperative Trust, CUNA and MnCUN are joining forces to get at least one Crasher per state and D.C. to the 2023 CUNA Governmental Affairs Conference (GAC). This is the premier credit union advocacy event of the year and crasher spots are limited and coveted. We're looking for the brightest talent and those who are passionate about serving others through cooperative finance. Crashing the GAC has positively impacted hundreds of emerging professionals. Crashers receive free conference registration from CUNA. Travel, lodging, and food costs are the responsibility of the Crasher and their credit union. The MnCU Foundation’s GAC Scholarship or Professional Development Grant may be used to supplement the cost. Submit your application by 11:59PM CST on Friday, December 2. Credit unions big and small rely on databases, project management, social media scheduling and creative design tools in their operations. But how do you maximize these tools to make them work in harmony?
Please come to the Fall Marketing & Business Development P2P ready to share best practices, tips & tools to increase collaboration and efficiency. Date: Tues., Nov. 1 Time: 1:00-3:00 p.m. Location: Webinar/Video Conference Cost: $49 Webinar and call-in instructions, along with recordings, session materials and resources, will be provided to registered attendees. 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.
As of September 2022, over 8,500 members of credit unions in Minnesota have saved over $12 million in WINcentive savings accounts throughout the state.
WINcentive, Prize Linked-Savings Featured at NCUA DEI Summit Next month, Ben Hering, MnCUN's Director of Engagement, and Dawn Dunkelberger, North Memorial's VP of Financial Services, will participate in the panel "Increasing Financial Inclusion and Attracting New Members Through Prize-Incentivized Savings Accounts." NCUA's third DEU summit, All-In on DEI & ACCESS is a hybrid event taking place Nov. 2-4. Ultum Group is hosting a 6-week free virtual Bootcamp for credit union leaders about starting, building, and creating a successful commercial lending program. Please join us for Week 2 of the series coming up on Wednesday, November 2 at 10 a.m.
Missed Week 1? No worries! You can view the recording of Week 1 - Overview of the Industry landscape and the Benefits of Commercial Lending for Credit unions and Community Banks. Ultum Group is a Credit Union Service Organization (CUSO) that provides premiere end-to-end Commercial and SBA Lending services to financial institutions. Their goal is to give credit unions the opportunity to serve business members in their communities and across the country by providing products and services that exceed expectations. Upcoming series topics will include:
Full session descriptions, dates and times are available on the event registration page. With questions, please reach out to Theresa Tschumperlin, CEO, Ultum Group. Financial & Audit Professionals Grant applications are now open. Funding from the Financial & Audit Professionals Grant program is intended to cover or defray the costs for credit union professionals or volunteers to attend timely and accurate educational events, conferences and seminars on financial and audit-related topics. Reputable course providers include, but are not limited to, the following:
Applications will be accepted until Nov. 30, 2022 for use in 2023. The Financial & Audit Professionals Grant Fund was established in 2014 through a generous contribution from Rich Gabrielson, a CPA who worked with Minnesota credit union supervisory committees, boards of directors and management throughout his 36-year career. Gabrielson retired from CliftonLarsonAllen, LLP at the end of 2013. With questions, please contact the Minnesota Credit Union Foundation’s Executive Director Andrea Molnau.  Tomorrow is International Credit Union Day and is celebrated worldwide by 56,000 credit unions. Gov. Tim Walz has proclaimed October 20 as Credit Union Day in Minnesota.
ICU Day exists to raise awareness and celebrate what makes credit unions unique. This year’s theme Empower Your Financial Future with a Credit Union™ looks toward empowering your members and community to build a better financial future with your credit union. As we continue on our path of financial well-being for all, ICU Day is our chance to show the world how we are improving our members’ lives. There is a wide range of resources for you to take advantage of including free materials (themed logos, posters, coloring page, etc.) and customizable assets through the ICU Day Design Bundle. Share how you are celebrating the day by using the #ICUDay hashtag and tagging MnCUN (@mncreditunions) on social media. |
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