The Pulse
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The Association of Black Economic Power held a townhall meeting last week to provide updates to the community on the new credit union and to announce the results of voting for the new name. The community voted for “Arise Community Credit Union” by a landslide. The new name will be used in place of Village Financial Credit Union going forward.
Also last week, CUInsight published an article by Nation Credit Union Foundation executive director Gigi Hyland and MN CU Foundation Executive Director Andrea Molnau on the importance of the creation of the credit union and its opportunity to truly impact Financial Well-being with cooperative values. The Minnesota Credit Union Foundation is seeking both Capital Contributions, Individual Donations, and Pledges of Deposit to help support this effort. To learn more, visit mncun.org/villagefinancial or contact Minnesota Credit Union Foundation President Mark Cummins or Executive Director Andrea Molnau.  Tim Tacheny, General Counsel for the Minnesota Credit Union Network is leaving his position on Aug. 18 after 5 years of service. We are excited for his next endeavor and thank him for his contributions to the Minnesota credit movement!
Earlier this year, Tim received Excellence in HR & Organizational Development Award in the Management Practices category for his role in developing the Minnesota Credit Union Employee Benefits Plan. The Minnesota Credit Union Network is accepting applications for the General Counsel position. Interested applicants can apply at the Minnesota Credit Unions Jobs Board. Ahead of the graduation of the first cohort of MnCUN’s Trailblazers Executive Readiness Training program in September, we will be highlighting the credit union professionals participating in the inaugural year of the program.  Nicholas Mathiowetz, President/CEO, NorthRidge Community Credit Union Why have you chosen a career in credit unions? I choose to make a career with the credit union because of the impact that we, as a movement, can make on our members and communities. The cooperative structure can provide support for people, we can make dreams come true, change lives and help people live to their fullest potential. I couldn't ask for a better cause to dedicate myself to. How do you think the Trailblazer program will impact your career? This program has given a nice review of credit union operations. It was quite beneficial to see how other organization operate within the same constraints. I was also interesting to hearing the differences between credit unions at varying asset sizes. While our challenges are often the same, they are certainly tackled differently. These insights have allowed me to look at our operations with a new perspective and that has assisted some creative problem solving. What have you enjoyed most about the program? This program has provided a great resource to revisit some of things I've already done, and to give new ideas to handle those same things. It's also been a great place to connect with others in the industry and learn more from them. This Trailblazer's group is a fantastic group filled with incredibly talented and motivated people. Listening to them inspires me to learn and do more.  Jodi Maus, Training and Development Manager, Magnifi Financial Credit Union Why have you chosen a career in credit unions? I think the credit union industry is very unique. Staff are able to provide financing to members to help make their dreams come true. As an organization, we support the community through community involvement and donations. Our profits are reinvested to help members and the community. As staff, we are supported to grow and develop, personally and professionally. In the credit union industry, staff collaborate with other credit unions to share ideas to move credit unions into the future and continue to grow. It is truly a great industry to be part of! How do you think the Trailblazer program will impact your career? The Trailblazer program provided an overview of all areas of the credit union, from leadership, financial, branch operations and strategy. It was a great opportunity to learn about other areas of the business and gain ideas from other credit unions and industry leaders. The network and relationships built with other credit union leaders was the most valuable piece. The trust and collaboration will continue into the future. What have you enjoyed most about the program? I enjoyed the content and perspectives provided. However, the opportunity to build relationships with other credit union leaders was the most valuable piece of the program. There are many talented professionals in the Trailblazers and I am honored to be part of the cohort.  Denise Meinert, VP of Member Service & Marketing, South Metro Federal CU Why have you chosen a career in credit unions? It's an industry where professionals can come together to provide a service to members because they want to make a difference. They improve members lives by providing exceptional service and products and focus on improving members lives beyond their financial wellbeing by being involved in the local community. It's a unique industry and I feel fortunate to have a career helping others and working alongside other professionals with similar values. How do you think the Trailblazer program will impact your career? The practical hands-on approach of the program enables me to apply the knowledge firsthand and develop into a more skilled leader. It offered the opportunity to learn more in depth about areas of the credit union that I don't work directly with and provided me with a stronger understanding of all aspects of a credit union. What have you enjoyed most about the program? I've enjoy being able to collaborate with the cohorts and gain knowledge from their professional experiences in the Credit Union industry. Coming together as a community of professionals to learn to be better leaders has been invaluable and I look forward to continuing to network with each of them.  Brianne Meszaros, VP of Branch Operations, Hiway Credit Union
Why have you chosen a career in credit unions? As a lifelong credit union member, and a credit union employee pretty much since high school, I have become fully immersed in the credit union movement and it feels like a natural fit with my values and beliefs. Making a difference in member's lives by acting in their best interest, providing financial education to better their future, and contributing to our local communities is fulfilling a greater purpose. How do you think the Trailblazer program will impact your career? I believe the Trailblazer program is a launch pad to the next level of credit union leadership. It has armed me with more in depth exposure and experience on key focus areas, enhancing my leadership skills, providing a solid foundation of credit union financials and operations, and giving me insight into successful strategic planning efforts. I am grateful for the network of peers that I have access to and can build future relationships with! What have you enjoyed most about the program? The most enjoyable part of the Trailblazer Executive Readiness Program is the camaraderie, collaboration and connections made amongst a group of high energy, highly driven, motivated individuals within the industry. The content was well rounded and provided a deeper dive into the important topics of leading and running a credit union. The Tristate Mentor Match is a 12-month program designed to build, grow, support, and inspire credit union professionals in their careers and commitment to the Credit Union Movement. It envisions relationships based upon commitment, common goals and expectations, and mutual trust and respect, in which both the mentee and mentor grow in the process. This program is a partnership among the Minnesota Credit Union Network, Montana’s Credit Unions and the Wisconsin Credit Union League to expand our reach and bring our collective members a rich and diverse opportunity to network and grow.
See what this year’s participants are saying about the experience: “I think this mentorship program was one of the best ideas and collaborations I have ever been a part of! My mentor has been FANTASTIC and I am still trying to figure out how the team was able to match us so perfectly. She has been vital to my recent successes and helped me find more confidence within my role, my development, and myself. I highly recommend this program!” Caitlin Brama, Branch Manager Financial One Credit Union This was my first experience mentoring an individual in a structural format. I felt like my own leadership skills increased as a mentor - it was like a two-way street. I gained new perspectives each time we connected, and I can honestly say this experience has changed the way I look at myself as a leader. I feel like I became more motivated in my own role. My mentee grew in her role and was promoted in the process! Serving as mentor is an opportunity to gain satisfaction giving back to your work community, and provides yourself a deeper appreciation and pride in what you do. I wholeheartedly recommend this experience! Kathy Harrington, President Heartland Credit Union "Being a mentor as part of the Tristate Mentorship Match program has been rewarding beyond words. Being part of another individual’s credit union’s journey is such a privilege. During the time I spent with my mentee, I have learned more about myself and my leadership style. I believe we both have grown and now have a strong bond with another credit union professional. The time commitment and agenda were driven by my mentee. She was excited to learn and so appreciative of the time we spent together. The 12-month commitment really is a lifelong connection. I am excited to see how my mentee will make an impact in the future!" Anita Quaglia, CUDE, VP of Member Engagement Minnco Credit Union Applications are open for both mentees and mentors. Deadline to apply is August 5, 2022, and the program kicks off in September. More information and a link to application are available on the online mentorship page. With questions, reach out to Mara Humphrey or Andrea Molnau.  This year's CREW Summer Social will be hosted IN-PERSON on Wednesday, August 17 from 4:00-8:00 p.m. Registration is open through Wednesday, August 10.
The CREW is excited to bring together credit union young professionals for an evening of socializing at The Boat Club Restaurant at Fitger's Inn in Duluth. This event will include meeting with peers, getting credit union industry updates and a speed networking activity with credit union executives. Credit union executives from across Minnesota will be joining us for a speed networking activity. The guest leaders joining us are:
This event comes at no cost for attendees and includes dinner. Space is limited! Agenda: 4:00 p.m. Social Hour 5:00 p.m. Dinner starts 5:30 p.m. Network Updates 6:00 p.m. Speed Networking with Executives 7:00 p.m. Open Forum and Networking! With questions, please contact MnCUN Director of Engagement Ben Hering by email. The Minnesota Credit Union Network works to ensure the success, growth and vitality of our member credit unions. To help achieve this goal, MnCUN has established restricted funds to strengthen our efforts on behalf of Minnesota’s credit unions – the Advocacy Fund and the Awareness Fund.
The Credit Union Advocacy Fund provides resources to strongly position credit unions on the legislative and political fronts. The Advocacy Fund is proactive in nature, helping to create a strong credit union environment and augment MnCUN’s advocacy efforts. Expenditures from the Advocacy Fund are used to enhance MnCUN’s dues supported advocacy activities and increase credit unions’ impact through:
The Credit Union Awareness Fund is focused on increasing consumer awareness of credit unions, including but not limited to, commissioning research, working to expand media coverage, and coordinating other visibility opportunities. Expenditures from this fund promote the benefits and value of credit unions, helping to spread the word that credit unions are the best financial choice for consumers. Minnesota’s 2021 Awareness Initiative made strides in boosting consumer awareness of credit unions and exceeded goals. 110,000,000 ad impressions were delivered through OTT Streaming Ads, Social Media, Banner and Video Pre-roll, MN State Fair sponsorship and transit ads. The year-end Google Poll conducted in December noted ad recall of respondents in our target demographic increased beyond our goal of 37% - from 34% in 2020 to 43% in 2021. In addition, the likelihood to join a credit union goal of 55% was achieved with 55.2% indicating likely or very likely to join a credit union; an increase of over 5 points from the previous year. The first half 2022 brought new Your Money Further brand concepts, and a major upgrade and redesign of the Your Money Further website. Focus of the effort has shifted from Awareness and Consideration to Consideration and Conversion. MnCUN worked with CUNA to test new ad concepts in Q1 2022, and has fully launched the new ads in Q2. New out of home transit ads were launched in greater Minnesota markets. Along with the consumer awareness initiative, the Awareness Fund supports additional Public Affairs activities on behalf of Minnesota’s Credit Unions:
As restricted funds, expenditures from the Advocacy and Awareness fund are governed by their respective committees of credit unions, with input from MnCUN staff and consultants. Solicitation for these funds occurs each year in conjunction with the issuance of the Network’s annual membership dues invoice, as well as on an as-needed basis. The Minnesota Credit Union Network would like to thank credit unions for their support of the Awareness and Advocacy Funds. Full report details and financial statements have been mailed to member credit unions. Association for Black Economic Power (ABEP) hosting virtual town hall meeting Thursday, July 287/26/2022
The Association for Black Economic Power (ABEP) is hosting a virtual town hall meeting on Thursday, July 28 at 6:00 p.m. for Twin Cities residents to unveil the new name and update the community on the status of the credit union charter application. Credit union supporters are invited to attend.
Due to many financial organizations using “village” in their names, and to avoid further delays with approval of the charter; the ABEP Board of Directors have decided to change the name of the new credit union. In addition to unveiling the new name, ABEP will provide an update on the progress of the De Novo credit union status; and request critical participation still needed from the community before it submits the charter application. Residents will have an opportunity to weigh in on the new name of the credit union by voting online. There will be two names for each voter to choose from and the name with the greatest votes will be announced during the town hall meeting. All residents of Hennepin and Ramsey counties are strongly encouraged to visit learnaboutvillage.org, then:
The Minnesota Credit Union Foundation continues to seek both Capital Contributions and Pledges of Deposit to help support this effort. To learn more, visit mncun.org/villagefinancial or contact Minnesota Credit Union Foundation President Mark Cummins or Executive Director Andrea Molnau. The U.S. House Committee on Financial Services is scheduled to take up H.R. 6889, the Credit Union Board Modernization Act, in its mark-up today.
Hike the Hill returns in-person to connect credit union representatives with federal legislators and regulators to talk about top credit union issues in Washington, D.C.
Meetings will be scheduled on various days during the week of September 19th to allow for maximum flexibility for members of Congress to be able to attend. Attendees should plan to arrive by late Tuesday morning and be prepared to meet for legislative and regulatory briefings at CUNA’s offices. Meetings with legislators will be scheduled for throughout the day on Wednesday. Assuming availability of staff or Board members, NCUA meetings will take place Thursday morning and attendees can plan to fly out by Thursday afternoon. A room block for Hike the Hill has been reserved at AC Hotel Navy Yard located at 867 New Jersey Ave SE, Washington, DC 20003. Reservations by attendees must be received on or before Friday, August 19th, 2022. With questions about Hike the Hill, contact MnCUN Director of Governmental Affairs Ryan Smith by email or at 651-288-5533. |
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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