The GAC scholarship was created to provide financial assistance to credit union staff and/or volunteers who are members of the Minnesota Credit Union Network (MnCUN) and wish to participate in CUNA’s Governmental Affairs Conference. The Foundation has a $8,000 scholarship pool, and funds allocated to applicants may be used for the cost of the conference registration.
The premier event for political impact in the credit union industry, will be an interactive virtual format taking place March 2-4, 2021. More information is available at https://www.cuna.org/gac/ Preference will be given to applicants who have not attended GAC, are from credit unions under $100 million in assets, and have shown engagement with MnCUN and credit union advocacy. The application deadline is November 30, 2020 Two credit unions received Financial Education Grants from the Minnesota Credit Union Foundation this fall.
Embarrass Vermillion Federal Credit Union received a grant to partially fund the LSS Financial Choice program for their members. This program will provide all members with financial literacy training to help improve their budgeting skills, increase their credit scores, or purchase their first home, plus one on one professional services provided by LSS. Mid Minnesota Federal Credit Union received a grant to help fund the production of financial literacy videos. Bridges (a resource for schools in Central MN) and MMFCU are partnering to film shortened Financial Education videos for teachers to embed in their online learning or show in class, in lieu of having financial education speakers on site in the classroom. MnCUF Financial Education Grants support credit unions’ implementation of financial education projects. Applications are evaluated by the Minnesota Credit Union Foundation Board of Directors and evaluated on factors such as credit union value, community impact, collaboration, and creativity. The application period is open so that credit unions may now apply for funding at any time throughout the year. For more information or to apply, visit https://www.mncun.org/apply-for-a-grant.html. While there are elections results still forthcoming and many races could still change as more votes are counted, here is the situation as it stands.
There are still millions of votes to be counted across several states so there is no winner to be announced in the Presidential race, but former Vice President Joe Biden has won the vote in Minnesota by about 8 points. Senator Tina Smith won her re-election bid against former U.S. Rep. Jason Lewis, with about 49% of the vote as it stands now. Nationally, the GOP appears to have held control of the Senate, though seats in Maine, Michigan and North Carolina remain to close to call. The most notable result of the Congressional races saw longtime DFL incumbent Colin Peterson lose by about 13 points. Incumbent U.S. Representatives Hagedorn (CD-1 R) and Craig (CD-2 DFL) appear to have won their respective races by about three points, while Representatives Phillips, McCollum, Omar, Emmer and Stauber easily defeated their challengers. If the current results hold, the Minnesota Congressional contingent will be evenly split at 4-4 along party lines. The Democrats have held the U.S. House but have lost seats, trimming their majority by at least a handful of seats. Prior to the election, the Minnesota state Senate had a 35-32 Republican majority. Currently, it appears that 2 DFL and 2 Republican-held seats have flipped, which keeps the GOP-controlled chamber at the same split. DFL incumbents Dan Sparks (SD 27) and Matt Little (SD 58) were unable to win re-election while GOP races in SD 44 (Open) and SD 56 (Dan Hall) came up short. There are still many races with uncounted votes in the state House, but it appears that the DFL will retain control, albeit with a smaller majority Prior to the election, Democrats held a 75-57 majority. Democrat incumbents in 5A, 6A, 19A, 54A, 55A, 57A and 57B have all either lost or are currently trailing which would leave the DFL with a much slimmer 69-63 margin. While the state of the race is still in flux, credit unions are well positioned going into the next legislative session in January. Many of our champions won their races and we still enjoy strong support on both sides of the aisle. We’ll have a more in-depth analysis during the Election and Recap Analysis webinar next week on Thursday, November 12 at 9 AM. If you haven’t yet, you can register online. Annual Conference Virtual Exhibit Hall Provides Solutions for Your Credit Union and Chances to WIN!11/3/2020
In addition to inspiring educational content and opportunities to network, the Virtual Annual Conference will provide an interactive, online exhibit hall where connections may reveal new solutions for your credit union. 40 exhibitors and sponsors are supporting our conference and virtual tradeshow. Each has their own company landing page with description, handouts and materials for attendees to download. You can also interact live with company representatives during exhibit hall hours on Wednesday and Thursday from 12:00 – 2:00 pm. Make sure to check out their Prize Videos! Exhibitors are asked to post a video on their custom landing page that provides a brief introduction to their company and announce a prize drawing winner from registered attendees. Attendees must watch the videos in order to hear if they won a prize! More chances to win To ensure we all stay connected, engaged and having fun, MnCUN be rewarding participation at the event through a number of activities you can take part in via the event platform. Points will be awarded for visiting the live virtual trade show, for viewing a sponsor video, requesting information from exhibitors, participating in sessions, engaging in online conversations, and more. As a reward, we will be providing prizes to the top five participants on the game's leader board. Prizes will include: the new Apple Watch SE for the top point-getter and VISA gift cards for four runners up. Registered attendees should watch for an email invitation to join the Virtual Annual Conference Event Platform coming late next week. If you haven’t registered, you may still do so by visiting the conference page on our website. Hurry! The registration deadline is Friday, November 6. Thank you to our event sponsors!
Last week, UCare’s Associate Vice President of Sales, Brian Eck, provided an overview of how a Health Savings Account (HSA) compliant plan works, the advantages of such a plan, the tax advantages delivered by pairing an HSA compliant plan with an HSA account.
UCare and MnCUN have 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. UCare has developed materials to credit unions to promote and answer questions about these types accounts to members and prospective members, including:
These materials are available on the MnCUN Members Only Publications Page. Additionally, UCare is offering to co-host webinars for your members to directly answer questions. UCare conducted focus groups and found that consumers had a lot of questions about health insurance, particularly HSAs. If you would like to co-host a webinar with UCare – contact Brian Eck at beck@ucare.org. NetGiver Wins NACUSO Next Big Idea 2020 Competition with Innovative Charitable Giving Mobile App11/3/2020
NetGiver took top honors at NACUSO's Next Big Idea Competitio! This is the first year that the competition offered prize money - $7,500 for first place, and $2,500 for second place, courtesy of CO-OP Financial Services.
Each contestant is given 7 minutes to present and then the judges were given 8 minutes to ask questions with the audience ultimately the deciding the winner. And with over 125 attending they voted NetGiver as number one and Posh Technologies took second place. Criteria for the Next Big Idea are initiatives to improve earnings, enhance member service, deliver new products and services to members and improve delivery channels to members. The innovations can be at various stages of development, including early stage and in need of investment, ready to be delivered or already in motion and are growing and changing the industry. Earlier this year, MnCUN joined the ownership of NetGiver; a CUSO which enables fee-free charitable contributions exclusively for credit union members through a mobile giving platform. For more information on the NetGiver partnership, contact Kris Jacobsen, MnCUN Director of Business Development. For more details on the Final Four competitors, visit: https://www.co-opfs.org/Media-Relations/2020/CO-OP-and-NACUSO-Announce-Next-Big-Idea-Winners-News-Release The Minnesota Credit Union Foundation (MnCUF) and Members Cooperative Credit Union are proud to recognize Tammy Heikkinen as a CU Builder Award recipient for her service to the credit union movement. Heikkinen has been dedicated to Minnesota's credit unions and the "people helping people" philosophy since the outset of her career. Throughout her years of service, which includes twelve years as President/CEO of Members Cooperative Credit Union, Heikkinen has been instrumental in the growth and strengthening of credit unions both locally and nationally. Her contributions as a credit union leader can be seen throughout the communities she has served, from sponsorships to community service, and have left a lasting impact. Heikkinen, who is retiring this fall, has served as an integral leader within the Minnesota credit union movement and beyond. Through her commitment and dedication to Members Cooperative Credit Union, the organization has grown to over $900 million in assets with 12 branches serving Minnesota communities. Created in 2008, the Credit Union Builder Award honors an individual’s dedication to the success, growth, and vitality of the not-for-profit financial movement in Minnesota. Dedications are typically made at a time of significance to acknowledge an individual’s contributions to credit unions. In total, 75 individuals have been designated as Credit Union Builders over the past nine years. The names of the recipients and the contributing credit unions are permanently displayed in the Minnesota Credit Union Network’s lobby as a tribute to those who have dedicated time and energy to building the credit union movement. Contact Andrea Molnau, Executive Director of the MnCUF with questions. Minnesota Credit Unions are encouraged to continue financial support the Minnesota Open Your Eyes to a Credit Union® Awareness Initiative for 2021. The ongoing investment to boost consumer awareness is paying benefits in growth and knowledge of credit unions across the state.
Our recent, state-specific consumer research indicates that fifty-two percent of non-credit union members age 18-34-years-old are likely to consider joining a credit union. This percentage has increased significantly since 2017, when Minnesota Credit Unions initiated a statewide Consumer Awareness campaign targeting this age group. And familiarity of credit unions among all ages increased 10 points in the past 18 months alone. We are extremely pleased to see these results in a year with so many challenges. As we enter 2021, we will continue to focus on reaching Minnesota young adults. The tactics include digital display ads and pre-roll video with audience targeting; social media ads on Facebook and Instagram targeting Minnesota consumers with financial interests; and Over-the-Top steaming video commercials (such as Netflix, Hulu, etc.). Contributors to the campaign will have access to new branded marketing materials; plus preferred placement on YourMoneyFurther.com. We are excited to introduce a number of enhancements and new features coming next year for contributors, like "audience sharing”, "join now” buttons, a credit union matcher, and more. “I believe we can continue to move the needle on awareness and market share if we work together and sustain the efforts we’ve begun,” said Mark Cummins, MnCUN President and CEO. “Minnesota’s credit unions are committed to their members in good times and challenging ones - and there has never been a better time to help more people understand the advantages of being a credit union member.” The recommended contributions are noted on the 2021 pledge form. Please send your credit union’s pledge to Andrea Molnau, VP Communications & Engagement at amolnau@mncun.org, by November 30, 2020. The Minnesota Credit Union Foundation (MnCUF) will participate in Give to the Max Day, Minnesota’s homegrown giving holiday, on Thursday, Nov. 19.
GiveMN is an independent nonprofit organization working to ignite generosity and grow giving through GiveMN.org, Minnesota’s giving marketplace, and RaiseMN, a fundraising coaching and training program. Since 2009, more than 600,000 donors have made gifts with ease and enthusiasm through GiveMN.org to make a difference for causes in their communities. Simply visit our page https://www.givemn.org/organization/Minnesota-Credit-Union-Foundation to make your donation. As not-for-profit financial institutions, credit unions are focused on empowering individuals, families, and communities through financial education. MnCUF provides grants, community partnerships, professional development and disaster relief to help the state's credit unions and communities prosper and thrive. Founded in 1969 by the Minnesota Credit Union Network, MnCUF is a 501(c)(3) charitable organization governed by a seven-member board of directors from various Minnesota credit unions. For more information, visit the MnCUF section of the website. |
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