Over the next few weeks, MnCUN will be sharing testimonials from several members about the value of being a member of the Minnesota Credit Union Network. Thank you for your continued support and trust! 

​"As a small shop, Teamsters Credit Union relies on the support and guidance we receive from our Minnesota Credit Union Network. The Network is a lifeline for small credit unions! We know we have someone we trust – who we can call with questions on everything from compliance and legal matters to strategic planning for our future growth and success. We appreciate the educational opportunities, events, and networking opportunities the Network provides to help us stay connected with our credit union partners and colleagues.

The Network staff have always gone above and beyond to listen to the needs of Teamsters Credit Union. They connect the dots for us in ways that help our credit union stay relevant to our membership.  No matter the question – or event – the Network staff always helps us feel connected and gets us more excited to be part of the credit union movement. We share the same members helping members philosophy!"
-Andrea Adams, President, Teamsters Credit Union
 
"The strong relationships the Network Advocacy team has built with not only the Senators and the Reps, but their staffers as well, are obvious and really goes a long way to help Minnesota Credit Unions."
- Andy Deans, Mortage Servicing Manager, Hiway Credit Union

Membership in MnCUN and national trade associations ensures your connection to powerful advocacy, expertise, resources, opportunity, and influence. MnCUN staff would like to thank each member for supporting a thriving credit union system in Minnesota.

The CUNA National Awards Committee announced the 2023 recipients of the Dora Maxwell Social Responsibility Community Service Award, Louise Herring Philosophy-in-Action Member Service Award, and Desjardins Awards for Financial Education.

Congratulations to the MnCUN member credit unions for their winning entries: 

•  Dora Maxwell $250M-1B: MY CU - 3rd Place/Honorable Mention, 
•  Desjardins Adult $250M-1B: TopLine FCU - 3rd Place/Honorable Mention, and
•  Desjardins Adult 1B+: Royal Credit Union - 3rd Place/Honorable Mention.

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"I am proud of Minnesota credit unions for honoring the legacies of credit union pioneers by providing financial education and giving back to their communities," said MnCUN President & CEO Mara Humphrey. "Congratulations to MY CU, Royal CU and TopLine Financial CU for identifying needs and providing innovative programs to advance the financial and overall well-being of their communities."

The awards, which are given in multiple credit union asset sizes, were selected among state-level winning entries to compete nationally. Winners will be recognized in a virtual ceremony in January 2024 and at GAC in Washington D.C.,
March 3 to March 7.

FHFA Comprehensive Report: The Federal Housing Finance Agency (FHFA) released its comprehensive report on the Federal Home Loan Bank (FHLBank) system on November 8. 

​Customer Identification Program (CIP) Refresher: The PATRIOT Act and federal regulations require each credit union to implement a written CIP that includes certain minimum requirements found in section 748.2(b)(2) of the NCUA regulations and section 1020.220(a)(2)(i)(A) of the FinCEN regulations. 

NCUA Reinstating Call Report Penalties: The National Credit Union Administration (NCUA) announced that it will reinstate assessing civil money penalties for credit unions failing to submit NCUA Form 5300 Call Report on time, effective January 1, 2024.

The Minnesota Credit Union Network was notified earlier this week that Max Zappia will join the Minnesota Office of Cannabis Management (OCM) on a temporary assignment as its Implementation Chief Regulatory Officer. Zappia, the Deputy Commissioner of Financial Institutions at the Minnesota Department of Commerce, will be on a temporary reassignment from his current role to lead the design, implementation, and launch of the regulatory structure for the OCM.

In his role at the Department of Commerce, Zappia oversees the Financial Institution Division teams that work on regulation of state-chartered banks, state-chartered credit unions, and non-depository (non-bank) financial institutions licensed in Minnesota, encompassing finance companies, mortgage-related businesses, and money transmitters.

​He starts at the new agency today, Wednesday, November 29. Michael Crow, the Chief Examiner of the Financial Institutions Division, has been named interim department head while Zappia is on assignment. MnCUN prioritizes maintaining an excellent working relationship with the Department of Commerce and are confident that will continue during Mr. Crow’s tenure. In the meantime. Aeton de Long-Hersh, the Department’s Credit Union Chief Examiner, will remain in his role and you can feel free to reach out to him if you have any questions.

“We are pleased to connect MnCUN Member Credit Unions with a solution to help meet regulatory requirements, protect member’s data and their financial well-being,” said MnCUN Chief Operating Officer, John Ferstl.
 
Optimize Cyber also assists Credit Unions with Penetration Testing services, as required by the NCUA. Their team is led by highly credentialed Offensive Security practitioners and delivers exceptional quality at mid-market prices. Optimize Cyber is also committed to working with the MnCUN to educate employees and members about cyber risks through events, webinars, and other initiatives.
 
“Our team is committed to providing industry-best security offerings to help Credit Unions meet NCUA requirements” said Matt Quammen, President and Co-Founder at Optimize Cyber. “We are committed to assisting MnCUN in educating Credit Union leaders, as well as their members, about cyber risks. Individuals and Business Owners are concerned about losing money to cyber-attacks. Now is the time for Credit Unions to evangelize a focus on protecting members’ accounts and safeguarding their financial assets. Optimize Cyber is here to help in this mission.”
 
To learn more, visit optimizecyber.com. 

​All 2024 Professional Development Grants have a deadline of Dec. 8, 2023. The Foundation Board will finalize awards and recipients notified no later than Dec. 31, 2023. Grant applications submitted outside this timeframe may be considered by special request on a case-by-case basis. 

Eligible Professional Development Grant Categories include:

•  GAC Scholarship ($2,000 to support attendance at the GAC Conference)
•  Financial & Audit Professionals Grant ($1,000 for attendance at Financial or Audit specific training)
•  CUDE Scholarship ($3,800 to attend the National Credit Union Foundation Credit Union Development Educator training)
•  FiCEP Certified Credit Union Financial Counselor (up to $500 to attend MnCU Foundation Enhanced FiCEP training program)
• MnCUN Major Event Grant (grant for registration at MonDak, Accelerate, CEO Conference, Lead)
• Small Credit Union Grant (up to $1,000 for professional development opportunities for credit unions under $100 mill in assets)
• Other Professional Development Grant (Other credit union specific education and training – must specify program on application)

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For more information on these grant opportunities visit mncun.org/apply-for-a-grant. 

The Coffee with the CREW series focuses on providing credit union young professionals with continued opportunities for networking and collaborating to help further knowledge and professional growth within the industry.

​This meet-up will be facilitated by Tami Cybulski, Director of Human Resources and Learning and Development from Hiway CU. She will be speaking on, "How to advocate for yourself/budget for yourself." 

Tami will also touch on:

• How to start conversations with your supervisor/C Suite about budget requests
• How often and when is a good time to ask for room in the budget
• What resources can you provide on finding the right conferences for your role/title at your CU? 
• What suggestions do you have for conferences/people to follow outside of the CU world
• How to advocate for your own growth within your CU
• Tips for not getting discouraged when you are always told “no” or “not now”

Date: Wednesday, December 6 
Time: 9:00 - 9:45 a.m.
Cost: FREE!

We will open up the webcams and audio lines for the group to join our facilitated discussion. All aspects of this session have been created with the intention of shared learning among facilitators and attendees. We will be asking attendees to actively participate before and throughout this session. With questions, please contact Xiong Lee, MnCUN Director of Engagement.

MnCUN looks forward to developing the next initiative highlighting the “Credit Union Advantage” across Minnesota. Our objective for 2024 is to re-energize and amplify a Minnesota-based campaign to share the advantage credit unions bring Minnesota consumers.

​Join MnCUN to learn more about Minnesota's Credit Union Advantage initiative and the changes ahead for consumer awareness efforts in 2024 on Nov. 29th at 2:00 p.m. Content will include an overview of the new direction, tactical plans and funding model.

​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.