Nearly two-thirds of Minnesota Credit Unions spent one day to give back on Monday, October 9 through donations, park clean ups, food drives, and supporting local nonprofits and community organizations deliver their services. Highlights include:
This year is the tenth anniversary of when Affinity Plus Federal Credit Union hosted its first organization-wide Plus It Forward Day in 2013. A play on “pay it forward,” the Plus It Forward concept grew out of an employee-driven idea of what it meant to be a part of the community and how credit unions could randomly spread kindness. The Minnesota Credit Union Network assumed the coordination of credit union participation going forward under the umbrella name CU Forward Day starting in 2017. Ten years later, CU Forward Day has spread to seven additional states. It brings together credit union employees, members, and partners to help community organizations and individuals by volunteering and spreading kindness. Credit Union Coordinators: Please complete the post-event survey. We can't wait to share the results of all your efforts showing the people helping people philosophy! We are excited to continue our series of regional events in partnership with our various chapters throughout Minnesota. Our new president, Mara Humphrey, along with MnCUN staff, will be traveling around the state to share MnCUN’s vision, gather feedback, and provide updates on current and new initiatives for Minnesota Credit Unions. All credit union employees and directors are welcome to attend. Each event costs to attend is $29 and includes dinner or hors d'oeuvres.
Central Minnesota Chapter on Tuesday, October 24, from 4:30 p.m. to 8:15 p.m. at Fraternal Order of the Eagles(730 41st Ave N., Saint Cloud, MN 56303). Registration Deadline is today! Twin Cites Chapter on Thursday, October 26 from 4:00 pm – 7:00 pm at The Machine Shed (8511 Hudson Blvd N, Lake Elmo MN 55402) Registration deadline is Friday, October 20th Southwest Chapter on Thursday, November 2 from 5:30 pm – 8:00 pm at The Redwood Area Community Center (901 E. Cook Street, Redwood Falls, MN 56283) Registration deadline is Friday, October 27th Arrowhead Chapter on Wednesday, November 8 from 3:30 pm – 6:30 pm at Clyde Iron Works (2920 W. Michigan Street, Duluth MN 55806) Registration deadline is Wednesday, November 1st Contact MnCUN Director of Engagement, Xiong Lee, with questions. CFPB 2024 HMDA Filing Instructions Guide: The Consumer Financial Protection Bureau (CFPB) published the 2024 Home Mortgage Disclosure Act (HMDA) Filing Instructions Guide, a technical resource to help financial institutions file HMDA data collected in 2024 and reported in 2025.
CTR Refresher: FinCEN requires a credit union to file a CTR (Compensated Transfer Report) for each currency transaction of more than $10,000 by, through, or to the credit union defining currency as coin and paper money, i.e., cash. The Minnesota Credit Union Network is celebrating GREAT Month and encourages credit union advocates and supporters to sign up to become a member of the Grassroots Education and Action Team (GREAT). GREAT provides credit union supporters a way to help preserve, protect and promote Minnesota credit unions. By participating in this program, credit union staff and members join other supporters from across the state in sharing the credit union difference with elected officials. By participating in GREAT, you join thousands of advocates in ensuring credit unions have a strong, unified voice when legislative and regulatory decisions are being made. Earlier this year, when some in Congress proposed radical changes to credit card payments that would dramatically hurt credit unions, thousands of Minnesota credit union advocates sent emails to their elected representatives to tell them to keep their hands off the current interchange system. Consumers and merchants alike benefit from the current interchange system but some lawmakers in Washington, DC are looking to make changes that could impact credit card security for consumers, make it harder for people to access credit, and increase costs to small businesses. Tell your lawmakers to keep the current interchange system that protects cards keeps the economy flowing. There are also opportunities to advance the credit union movement with the introduction of Veterans Members Business Loan Act and the Credit Union Board Modernization Act. These bills would modernize the Federal Credit Union Act to help credit unions operate more efficiently to meet their members' needs. Now is the time to remind members and credit union employees why being engaged in advocacy is essential to protecting our industry. We’re challenging all our member credit unions to increase the number of advocates during the GREAT Month. To help, please use the resources in the GREAT toolkit to help engage new staff and members in the effort. As your member experience continues to evolve, including new communication channels and competitors, have you ever considered whether your staff has the skills to take advantage of each opportunity and address each challenge?
ULEND Academy is a hands-on virtual training workshop that helps transform your lending culture from transactional to consultative, to better meet your members' financial needs. TruStage is hosting this virtual workshop at no cost, November 14-16, from 10:00 a.m. to 1:00 p.m. CST daily. Find more about Ulend and register your lending teams today! The global pandemic set into motion a series of historically unprecedented economic policies. Massive amounts of liquidity and stimulus from policymakers enabled a fast recovery, but at what financial cost? The side effect of those "easy money" conditions has been 40yr-high inflation that now must be fought through highly restrictive Fed behavior. Balance sheet managers have been left to deal with the resulting large swings in interest rate and liquidity risks. Quickly increasing cost of funds, stubborn loan rates, and ever-tightening margins are just a few of the most common worries for 2023. More than ever, it is critical that credit union leadership take a whole balance sheet approach, as understanding and utilizing wholesale markets (asset and funding) could significantly reduce some of these pressures.
Thursday, October 12, 2023 10:30 a.m. CDT Free of Charge This webinar will examine the challenges now faced by CEOs, CFOs, and investment officers who must navigate the next phase of these uncharted waters. Offered exclusively to Minnesota credit unions and credit union service organizations, the Minnesota Credit Union Benefits Plan harnesses the collective buying power of our members to gain access to more affordable and flexible health insurance.
The plan offers secure and stable rates through Medica, the largest health insurance network in the country. Members are given a designated Account Manager through Capstone Administrators to answer all of their plan questions. Learn more about the included benefits. The Minnesota Credit Union Foundation is pleased to offer Exploring Why TM - The National Credit Union Foundation’s experiential training that empowers employees of all levels to understand and leverage the Credit Union Difference to drive greater value for your members and organization. The interactive workshop incorporates lessons from the Foundation’s signature Development Education (DE) Program. This is an in-person workshop.
This program is generously sponsored by the Minnesota Credit Union Foundation and will be offered at no charge for MnCUN member credit union employees. Attendees will leave with a better understanding of:
The workshop will be delivered in person. For engagement and participation, there is a maximum of 60 participants. Registration will be taken on a first come, first serve basis; and limited to 5 attendees from the same credit union. (If more than 5 employees are interested, please email Andrea Molnau to be placed on a wait list.) Note: participants from the same organization will likely not be grouped together for discussions or activities. The deadline to register is Friday, November 3.
To join, please register to confirm your credit union's participation in CU Forward Day 2023. With questions, please contact Director of Engagement, Xiong Lee, via email or by phone at (612) 802-7695.
CU Forward Day After Party To celebrate the day, participants are invited to the CU Forward Day After Party, hosted by United Financials Making a Difference (UFMD), at Keg and Case Market in Saint Paul starting at 2 p.m. on Monday, October 9. UFMD and sponsoring credit unions will host food and beverages for all credit union staff and volunteers participating in CU Forward Day. This event is free for all CU Forward Day participants and volunteers from participating credit unions. Registration is not required. |
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