With completion of these final steps, the Association for Black Economic Power (ABEP) finalized the credit union’s charter and insurance applications and submitted them to the Minnesota Department of Commerce and the National Credit Union Administration on Oct. 31.
ABEP is a nonprofit organization created to establish a Black-led credit union to address systemic financial challenges impacting Minneapolis residents, particularly people of color. To support ABEP in their effort, last year the Minnesota Credit Union Foundation set out to raise $1 million in capital from support of the credit union community. The Foundation is pleased to announce the goal was reach this past month, with $1,083,600 in capital contributions raised. “ABEP and the new Arise Community Credit Union leadership are extremely proud and humbled to be a part of this momentous occasion,” said Debra Hurston, Executive Director of ABEP. “We are witnessing history and are extremely grateful for the support and dedication of so many who worked to reach this milestone.” The initiative will now move onto its next phase – strategically planning and beginning to implement critical items from proposed credit union’s business plan. Next Tuesday, November 8, is Election Day and there are still opportunities to vote early. You can vote in person at your county's election office and some cities and towns also offer in-person absentee voting. Additionally, if you are not yet registered to vote, Minnesota allows for same day registration on Election Day.
Visit the Minnesota Secretary of State's Office website for the following information:
Check out why credit unions must get out the vote this November in this op-ed in CU Insight by Mark Cummins, MnCUN President & CEO. Information about candidates and where they stand on issues of importance to credit unions is available in the 2022 Credit Union Voter Guide. If you are unsure of which elected officials represent your credit union, visit the GREAT website. For additional information, visit Credit Unions Vote. CUNA and MnCUN Host Post-Election Webinars: log into to the Member Portal for details. Registration has been extended for the Twin Cities Chapter of Credit Unions until Tuesday, November 8. Join the chapter for a fun evening of networking and trivia at AxeBridge Wine Co. This is a free event however we ask all attendees to register using the link provided.
Schedule of Events 5:00 p.m. – Registration 5:30 p.m. – Appetizers, Wine and Trivia 7:30 p.m. – Event Adjourns Cost* Free to attend Location AxeBridge Wine Co. 411 Washington Ave N Minneapolis, MN 55401 Parking: Paid street parking can be found on all roads surrounding AxeBridge Wine Co. Additionally, there is a paid parking deck located on the corner of N 5th Avenue and N 3rd Street. https://axebridgewineco.com/ *includes one drink ticket, heavy appetizers and trivia. Event is limited to 100 people. With questions, please reach out to Mary Matheson via email at [email protected] The fall Branch Operations P2P session will be an open format conversation with credit union peers around branch operations trends, staffing, training, service to sales and new technology. This event is meant to be an opportunity to meet and share with one another.
Webinar and call-in instructions, along with recordings, session materials and resources, will be provided to registered attendees. Date: Thursday, Nov. 10 Time: 1:00-3:00 p.m. Location: Webinar/Video Conference Cost: $49 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. Law firms continue to send demand letters threatening a lawsuit or file a lawsuit against credit unions alleging members were improperly assessed overdraft and/or NSF fees. In addition, regulatory scrutiny of overdraft and NSF fees continues to increase.
These lawsuits, most of which are class actions, have plagued the financial services industry over the last several years resulting in multimillion-dollar losses. While CUNA Mutual Group has shared risk insights and mitigation tips with credit unions numerous times on this litigation trend, credit unions continue to be targeted. To help minimize these risks, CUNA Mutual Group’s Risk Management and LOANLINER Compliance teams have created an on-demand recording: Overdraft / NSF Fee Litigation. The on-demand recording is accessible to all credit unions within Related Resources on the Overdraft / NSF Fee Litigation page of our Emerging Risks Outlook web series. The Overdraft / NSF Fee Litigation recording (approximately 42 minutes) highlights:
In addition, the Emerging Risks Outlook page provides credit unions with access to key discussion questions and relevant, straight-forward responses along with links to other related RISK Alerts and resources (some require User ID and Password). Visitors can also submit questions/feedback to our Risk Consultants directly from the web page.  The Minnesota Credit Union Foundation (MnCUF) is proud to participate in the 14th annual Give to the Max Day on Thursday, Nov. 17. Give to the Max is a statewide giving event that raises millions each year for more than 6,000 causes across Minnesota and beyond. Considered Minnesota’s holiday for generosity, donors have given more than nearly $255 million since the inaugural Give to the Max Day in 2009.
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. To participate in Give to the Max, donors should visit GiveMN.org and search for the Minnesota Credit Union Foundation. Early Giving for Give to the Max begins Nov. 1 and continues through Give to the Max Day on Nov. 17, with random drawings for more than $100,000 in prize grants for Minnesota organizations throughout the event. To be a part of Give to the Max, visit GiveMN.org to make a gift, and use #GTMD22 to join in the social media conversation. Questions about Give to the Max or the Minnesota Credit Union Foundation can be directed to Executive Director Andrea Molnau. |
The PulseThe Pulse is MnCUN's newsletter that keeps credit union professionals and board members updated on current news and information. Archives
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