Yesterday afternoon, the House Financial Services Committee held a mark-up for several bills, including one that was introduced by Congressman Tom Emmer (R-MN), H.R. 2311, the Credit Union Governance Modernization Act of 2021.
The Minnesota Credit Union Network can help you fall in love with your data in less time and money than you think, through the MnCUN Data Education Program.
Presented by Anne Legg, author of Big Data/Big Climb and Founder & CEO of Thrive Strategic Services, this data analytics education series offers tools and a forum for knowledge exchange to help key stakeholders fill knowledge gaps and launch their data journey with the assets they have at their credit union. The MnCUN Data Education certification program, to be held in hour-long segments starting at 9 a.m. CT January 20, 25 , 27 and February 1, 3, 8 and 10, have been thoughtfully scheduled to maximize learning and your day job. Visit the event page for details and to register. CO-OP Financial Services has launched its solutions and technology roadmap for 2022, addressing the fast-changing consumer preferences for digital technologies that accelerated in the wake of the pandemic. The roadmap keys on the need for credit unions to develop active, primary financial relationships with members who are increasingly meeting their own needs with fragmented financial affiliations. See what’s in store as CO-OP gears up for 2022.
CO-OP invited you join them live on December 8 for the Q4 Quarterly Update. It will review the CO-OP innovations that are helping credit unions meet the challenges of a changed and changing market and explore how CO-OP is helping our partners build those all-important Primary Financial Relationships. This article is provided as part of MnCUN's partnership with CO-OP Financial Services. Visit the Solutions Directory for more information. The MnCU Foundation has several current Grant opportunities open with Nov. 30th deadlines:
To apply for either of the grants noted above, visit mncun.org/apply-for-a-grant. Applications are due Nov. 30th. With questions, please contact the Minnesota Credit Union Foundation’s Executive Director Andrea Molnau. Can't make it to ACCELERATE 21 in person next week? New this year is a virtual registration option for $149 that will provide live stream access to the four general sessions on Thursday, November 18, and a recording of the Friday Awards breakfast. Registration for the Virtual option closes this Friday, November 12.
Details on the General Sessions included in the virtual option: General Session 1: ACCELERATE Minnesota Credit Unions: Featuring Roxanne Battle and special guest Jim Nussle, CUNA Join us as our emcee Roxanne Battle guides us through the current state of the industry, providing updates on several key initiatives, and previews the year ahead. We are honored to welcome leaders from state and national credit union communities, including Jim Nussle, President & CEO of the Credit Union National Association. General Session 2: Cryptocurrency & the Blockchain: Digital Dollars or Counterfeit Currency, Steve Stasiukonis, President, Secure Network Technologies It's like money, highly controversial, it's not country-backed, it's pseudo anonymous and becoming popular across the planet. In this session, crypto currency and its management vehicle known as the Blockchain are explained. The session will also explain how cryptocurrency is used for the purchase of anything like cars, homes, drugs and other illegal things. This session is an eye opener for anyone interested in digital currency, the technologies of Blockchain, and what you need to know as a financial person. General Session 3: Multicultural Growth Opportunities for Minnesota Credit Unions, Victor Corro, CEO, and Jennifer Esperanza, Director of Diversity, Equity and Inclusion, Coopera Consulting A DEI strategy requires evidence-based data points, especially information related to changing demographics, population trends and how these trends relate to financial inclusion. The Minnesota Credit Union Network and Coopera Consulting have partnered to do a deep dive into multicultural membership growth. In this session, Coopera will unveil the report’s insights into the economic and demographic dynamics of underserved and marginalized communities of color in the state; and the elements needed for a multicultural inclusion strategy within your credit union. General Session 4: Minnesota Political Update Get an up-close look at the political environment in Minnesota. During this session, Mary Lahammer, program host and political reporter for Twin Cities Public Television, will share an update on happenings at the State Capitol and preview 2022. With questions, contact MnCUN Vice President of Communications and Engagement Andrea Molnau or Director of Engagement Ben Hering. Federal Appeals Court Temporarily Blocks OSHA Vaccine Rules: On Saturday, the U.S. Court of Appeals for the Fifth Circuit issued an order temporarily staying the vaccine rules published by the Occupational Safety and Health Administration (OSHA) in an emergency temporary standard (ETS).
Risk Alert on Debt Collection Practices: CUNA Mutual recently issued a risk alert regarding Regulation F interpretations of the Fair Debt Collection Practices Act (FDCPA). The interpretations take effect on November 30. Late last week, the U.S. House, following passage from the Senate this summer, passed the $1.2 trillion infrastructure bill. The package was then signed into law over the weekend by President Biden. The bill includes:
The infrastructure bill is one part of the President’s larger economic agenda, with the other being a social safety net and climate spending package. The agreement struck last week between House Democrats to take up the infrastructure bill included a procedural vote to advance the other bill from the Rules committee and to the floor, where it can be taken up any time. This was the proposal that originally included the provision to require credit unions to report gross inflows and outflows of cash of $600 or more to the IRS as a means to enhance tax compliance. That IRS reporting provision, after nearly 1 million messages were sent to members of Congress from credit union members across the country, has been left out of the proposal in a huge win for our grassroots advocacy. That said, the proposal is never finalized until the last vote has taken. Credit unions are encouraged to be ready to continue to engage with their elected Representatives to ensure its not added back in at a later time.
Grow Your Membership and Recruitment by Engaging Your Biggest Fans
There is no stronger way to attract new employees and new members than building an advocacy system. We will talk about:
Contact MnCUN Director of Communications, Julia Miller, with questions. The sale of TruLync’s item processing services to Alloya Corporate Federal Credit Union completed its final major stage. As of Friday, November 5, TruLync's credit union clients have converted to Alloya Corporate FCU. The team of professionals from TruLync and Alloya FCU worked hard to ensure a seamless transition, so that credit unions will immediately begin to realize the benefits of this strategic partnership.
TruLync has found a strong partner in Alloya Corporate Federal Credit Union and is pleased to keep the item processing business in the credit union system. TruLync Services, including the business lines of Prize Linked Savings and M360 Data Analytics, will not be impacted by the transaction. With questions, contact MnCUN President & CEO Mark Cummins or Chief Operating Officer John Ferstl. |
The PulseThe Pulse is MnCUN's newsletter that keeps credit union professionals and board members updated on current news and information. Archives
May 2024
Categories
All
|