The Pulse |
NCUA Financial Innovation Rule: On September 21, the NCUA issued a bulletin for its final rule on Financial Innovation intended to provide federally insured credit unions more freedom to take advantage of advanced technologies and opportunities offered by Fintech.
Business Ownership Interest (BOI) Reporting Exemption for Credit Unions: FinCEN’s new BOI rule effective January 1, 2024, exempts federally insured credit unions from reporting requirements pursuant to 12 U.S.C. 1752 in its new Small Entity Compliance Guide. NCUA Update to Simplified CECL Tool: On September 25, the NCUA released its updated simplified CECL tool with the latest weighted average remaining maturity, factors and other enhancements for reporting effective January 1, 2023. If Congress does not pass a budget for the President's signature by the end of the fiscal year (September 30), the federal government will shutdown.
Join the upcoming Women's Leadership Network Peer-to-Peer (P2P) on October 5 starting at 1:00 p.m. via webinar and video conference.
We are pleased to be welcoming Eleni Giakoumopoulos, Director of the Global Women’s Leadership Network for the Worldwide Foundation for Credit Unions. Eleni will provide an update on the International Credit Union movement and the impact of the Global Women’s Leadership Network. In her role with GWLN since 2018, Eleni is responsible for directing the professional development programming, expanding GWLN Sister Societies, and growing membership in the U.S. and internationally. She has over 25 years of international experience working in 20 countries in western, central and eastern Europe. She is a member of the International Society of Female Professionals and the International Association of Business Communicators. Date: Oct. 5 Time: 1:00-3:00 p.m. Location: Webinar/Video Conference Cost: $49 This session will be held as a virtual roundtable. We will include time for open format conversation with the Women's Leadership Network. The open session and forum will include time to connect in break out groups and large format discussion. For a list of all P2P sessions, visit our Peer-to-Peer (P2P) webpage. With questions, please contact MnCUN VP of Communications & Engagement, Andrea Molnau, via email. This fall, TruLync Medicare Services is working with 6 credit unions during Medicare Open Enrollment to help their members sign up for Medicare.
Medicare can be an overwhelming and confusing process. And with 20% of credit union members aged 65 or older, we are excited about this opportunity to provide trusted guidance through this new program. Dave Brown, MnCUN Director of Insurance Services, has 15 years’ experience assisting and advising others with finding a suitable Medicare plan. To work with TruLync Medicare Services starting in 2024, contact Dave at dbrown@mncun.org. Nearly 150 credit union professionals and board members attended LEAD 23 at Madden's on Gull Lake in Brainerd last week. General and Breakout Sessions featured industry experts providing insight and relevant information on top credit union issues. Sessions throughout the event were designed for both credit union professionals and Board members. Speakers included:
Additionally, the 2022-2023 Trailblazer Executive Readiness cohort presented their credit union case studies while the new cohort kicked off the 12-month program. MnCUN’s Trailblazers Executive Readiness Training program is designed to accelerate executive level leadership skills and build credit union specific knowledge needed to succeed in our industry.
After a 6-week hiatus, Congress is back in session and needs to pass a budget or a short-term continuing resolution before the current fiscal year ends or the federal government will shut down on October 1.
Appendix E to 12 CFR §1002 Subpart B has amended the sample collection form for demographic information about principal owners for reporting.
Minn. Credit Union Professionals to Participate in Third Year of Tristate Mentorship Match Program9/19/2023
“MnCUN is excited to collaborate again with our league partners to connect top talent in the Tri-State Mentorship Program,” said Mara Humphrey, President of the Minnesota Credit Union Network. “We are grateful and proud to have so many participants from Minnesota commit their time and talent to the credit union movement.”
The pairs will meet monthly for the next year, supported by a program guide, check-ins from league staff, and additional resources to help maximize the experience for both the mentee and mentor. Congratulations to the Minnesota Credit Union Network participants:
The Tristate Mentorship Match is sponsored in part by Alloya Corporate Federal Credit Union, Corporate Central Credit Union, and Millennium Corporate Credit Union. |
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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