To help credit unions in planning and budgeting, and to leverage a new, efficient application program, the Minnesota Credit Union Foundation is pleased to announce a new professional development grant application process and timeline. All 2024 Professional Development Grants are currently open for application with 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. $18,000 in Scholarships Available to Your MembersThe Foundation Scholarship Council is awarding $18,000 in $1,000 individual scholarships - providing 18 Minnesota credit union members the opportunity to cut the cost of college. Any member of a Minnesota Credit Union Network affiliated credit union pursuing post-secondary education in the fall 2024/spring 2025 OR is a high school senior graduating in 2024 is eligible to apply. All applications must be submitted no later than November 30, 2023
Help us make this a record year for applications! Promote the scholarships on your website, social media, electronic messaging centers, in branch posters/postcard handouts, newsletter articles, and more!
To participate in Give to the Max, donors should visit GiveMN.org and search for the Minnesota Credit Union Foundation. Give to the Max’s Early Giving period begins November 1 and continues through Give to the Max Day on Nov. 16, with random drawings throughout for more than $100,000 in prize grants for Minnesota organizations.
The Minnesota Credit Union Network is the single greatest champion for Minnesota credit unions; therefore, we commit to dynamic, bold advocacy; inclusive collaboration; and innovative solutions that help accelerate the growth of credit unions.
Towards that goal, your membership benefits in MnCUN include:
The creation of American's Credit Unions, through the merger of CUNA and NAFCU, also provides an opportunity to evolve the credit union system to be more effective, responsive, and bolder advocates for credit unions. Based on discussions with member credit unions and the MnCUN Board of Directors, we encourage the proposed America’s Credit Unions to ensure the merger’s benefits strategically align with what is best for credit unions and ensure every credit union has the opportunity to thrive. It is an opportunity to provide a powerful, aggregated voice for national credit union policy and unified credit union advocacy. Thank you for your continued support and trust. Membership in MnCUN and national trade associations ensures your connection to powerful advocacy, expertise, resources, opportunity, and influence. Contact MnCUN President & CEO Mara Humphrey with questions on the benefits of affiliation with MnCUN. CFPB Proposed Expansion of Fair Credit Reporting Act (FCRA): On November 6, CUNA and NAFCU issued a letter objecting to the CFPB’s proposals as an “unwarranted and vast expansion” against Congress’s intent for the law without providing proper time for feedback.
CDFI Fund One-Time Eligibility Rule Change: The Department of Treasury announced on November 1, it will soon be taking applications for the Community Development Financial Institutions (CDFI) program. NCUA Proposed Rule on Fair Hiring in Banking: On November 6, the NCUA published its proposed rule for Fair Hiring in Banking announced as its “Second Chance” Interpretive Ruling and Policy statement at its October Board meeting. In the Brainerd Dispatch, Heartland Credit Union President, Kathy Harrington, shared the major concerns financial institutions have with proposed changes in Congress to the interchange system.
Harrington noted: "Supporters claim this competition will help lower “interchange fees” paid by the merchant on each transaction. Interchange fees help support the security and fraud protection on your card for a fraction of a cent per dollar transacted." "That means retailers could choose the cheapest possible routing option, not the most secure…Overhauling the interchange system needs to make sense for everyone it affects. We know that it would cut costs for merchants, but that comes at a cost for consumers." "Limiting interchange fees makes it likely fewer financial institutions will be able to offer credit cards, or rates will increase just to cover security costs. That means less access to credit for people who need it most." Thanks to Kathy Harrington for sharing her perspective on behalf of Minnesota Credit Unions and their 2 million members. Her editorial was also featured in CUNA News and CU Insight. There is still time to participate in one of the remaining Fall Peer-to-Peers! These sessions are open forums for credit union staff throughout Minnesota, for sharing knowledge and resources and making connections.
Accounting/Finance Peer-to-Peer (P2P) on Nov. 14 starting at 1:00 p.m. via webinar and video conference. Mark Bauman, The Baker Group, will cover the latest on economic trends, interest rates, and industry trends/liquidity. Marketing/Business Development Peer-to-Peer (P2P) on November 15 starting at 1:00 p.m. via webinar and video conference. Conor Smith from First Call Digital Marketing will present on the following topic: "Leadership, Marketing & Business Development Muscle." These events are only available via webinar. Log-in instructions, along with session materials and resources, will be provided to registered attendees. For a list of all P2P sessions, visit our Peer-to-Peer (P2P) webpage. With questions, please contact Director of Engagement, Xiong Lee, by email. Women’s Leadership Network Anniversary Celebration Event, Nov. 16, Featuring Courtney Godfrey11/7/2023
The Women’s Leadership Network invites female credit union colleagues and their male allies to our year end celebration event. Please join us on Thursday, November 16, from 3:00-6:00 pm at the Jax Café in Minneapolis. The afternoon will include insightful conversation and networking, as well as celebrating the accomplishments of the Women’s Leadership Network in 2023.
We are thrilled to have Courtney Godfrey joining us as our Keynote Speaker. Courtney is a local TV reporter in Minneapolis, appearing on Fox News and CNN.com. In September 2017, she was involved in a boat accident that resulted in the amputation of her left leg. The recovery was long and painful, but not once did she lose her positivity and drive. Courtney will share her journey "From Broken to Beautiful" and explain how a shift in perspective can change everything. Registration closes this Friday, Nov. 10. For more information about the Minnesota Credit Union Women’s Leadership Network, visit the group page online. Liza Gillan, Vice President, Operational Risk & Compliance, Alloya Corporate FCU
This article is provided by MnCUN's relationship with Alloya Corporate FCU. Visit the Solutions Director for more information. Meet the “Sister Swifties,” Lisa, Britney and Carla. As big-time, lifelong fans of the music sensation Taylor Swift, they donned that nickname years ago, long before the artist’s Eras Tour was even a glimmer in their eyes. Naturally, from the moment the tour was announced, they tried desperately to get tickets. When they sold out with unprecedented demand at lightning speed, the Sister Swifties were sadly left empty-handed. Adding insult to injury, Carla’s 16-year-old daughter, Reese, is more obsessed with Taylor Swift than the Sister Swifties combined! She was heartbroken when tickets sold out. As the tour got into full swing and social media exploded with Eras Tour content, Reese grew increasingly devastated at the thought of missing out… until the Sister Swifties hatched a plan. 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 special time of significance to acknowledge their contributions to credit unions. In total, 93 individuals have been designated as Credit Union Builders. The name of the recipients are permanently displayed in lobby of the Minnesota Credit Union Network, as a tribute to those who have dedicated time and energy to building the credit union movement. The honorees (or their families, in the case of a memoriam contribution) receive acknowledgement from the Minnesota Credit Union Foundation, and donors are also listed online and, in the Foundation’s annual report. A minimum $1,500 contribution is required to designate a Credit Union Builder Award. With questions, contact Andrea Molnau, Executive Director of the Minnesota Credit Unions Foundation. |
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