Minnesota credit unions have responded to the financial implications of COVID-19 by providing their members relief from mortgages, auto loans, credit card payments and business loans.
Updated data in a special survey from more than three quarters of Minnesota Credit Unions indicate that:
I am writing you all today to provide an update on the past few weeks as we as an industry continue our response to the death of George Floyd and civil unrest. We are committed to cooperatively leverage our unique business model to serve all people, and instigate real and positive change in our communities.
As Minnesota grieves and processes the events of the past month, I am proud to see our credit unions step-up and help assist. We have witnessed credit unions all over the state help with clean-up efforts and supply donations; revisiting of DE&I policies; having discussions with staff; and reaching out to members.
The Minnesota Credit Union Network itself has had thoughtful conversations with our own staff, our credit union CEOs, and fellow League colleagues, as we work to build a long-term response to difficult challenges. MnCUN has signed onto the CU DEI Collective pledge for a commitment to change. We are supporting the African American Credit Union Coalition (AACUC) and joining with Leagues across the country to help fund scholarships through AACUC’s Commitment to Change Fund. We will also continue to support initiatives like the Global Women’s Leadership Network to help ensure diverse voices are heard and represented in credit unions.
Systemic racism will not go away overnight, but will need a commitment to change from many and multiple issues addressed. Input and dialog with each other and with the African American community is an important initial step - to both understand these issues and explore how our values and the credit union model positions us as an active participant in the solution. I look forward to partnering with credit unions to continue these important discussions.
The Minnesota Credit Union Network is proceeding with the 2020 Fall Leadership Conference as an in-person event. The Conference is scheduled for Friday, September 11 through Sunday, September 13, 2020, at Madden's Resort in Brainerd.
With the COVID-19 situation still in flux, we will continue to monitor that status closely and adjust appropriately. However, we do intend to open registration for credit union attendees and sponsor organizations next week.
Events will need to be different this year to ensure everyone’s safety and compliance with current facility restrictions. Expect a few changes. However, we are committed to providing thought-provoking educational sessions, recreation, and networking opportunities.
Watch for a detailed agenda, sponsorship opportunities, and registration details coming soon. With questions, contact Andrea Molnau, VP Communications & Engagement by email. We look forward to seeing you in Brainerd!
Although credit union giveback may look different this year, please save the date for CU Forward Day 2020 on Monday, October 12 and plan to join us in spreading kindness as a celebration of our people-helping-people industry. Stay tuned for updates, event details and sign-up instructions to come in July!
CU Forward is a state-wide initiative through the Minnesota Credit Union Network of credit unions coming together to do one simple thing – spread kindness. On CU Forward Day, credit union employees, members and partners join one another to volunteer with local organizations, give back to our communities, commit random acts of kindness and generally just say “thank you” to the people who deserve it most. It’s really at the heart of what credit unions represent.
Last year, a total of 58 credit unions and organizations dedicated over 20,000 hours of service to the community as a collective whole with 4,000+ volunteers. The concept spread outside of Minnesota across our nation, as well, with the Illinois Credit Union League launching CU Kind Day, a credit union driven kindness day, and Mississippi credit unions piloting a giveback day through their young professional’s group, LEAD.
Did you know that the NYIB is the only credit union organization that maintains standardized reporting of financial education presentations to youth in the U.S.? It’s true! The reporting information is used by national and state legislators who lobby for mandated financial literacy programs in schools. Data is used locally by leagues and credit unions to promote community service efforts and demonstrate the CU difference. That’s why it’s so important that ALL credit unions that do either in-school or online classroom presentations, including Financial Reality Fairs, Mad City Money, Junior Achievement, NEFE, etc., and/or any internal programs your credit union may have.
Reporting is easy! Just visit www.nyib.org and log into your NYIB account (or create one if you’ve never reported before). Then click the report button and complete the online form. Or, if you have multiple presentations to report, consider utilizing the Excel spreadsheet provided. Once you have the spreadsheet filled out, just upload it to the site. And voila! Your presentations have been reported!
Have questions about what qualifies as a “presentation?” Check out the Reporting page on NYIB’s website (http://www.nyib.org/reporting). Or check out the FAQ section!
The NYIB reporting year runs from July 1, 2019 thru June 30, 2020. So any presentations you/your credit union did during that time should be reported.
Have questions? Feel free to reach out to, your Minnesota State Delegate, Jodi Slais or Tina Jones, North Central Regional Coordinator.
As part of our ongoing commitment to providing you with the highest level of value and engagement, we've recently launched a new website! The new site features a new design, easier navigation, and simplified event registration. In addition, members will have access to an updated Member Portal which includes exclusive access to content and more self-service options.
Our website address has not changed: www.mncun.org.
We encourage you check out our new Member Resources menu item, enhanced Solutions Directory, and new Job Board features. In addition, the Minnesota Credit Union Foundation website has been incorporated into the new MnCUN.org.
MnCUN members should visit our Members Only Portal so you can set up a new login and update your profile. Simply click “forgot password” and enter the email address you currently have on file with MnCUN. You will receive a Password reset link sent via email from email@example.com with instructions to set a password. If log in assistance is needed, please contact Ben Hering.
Once signed in, you’ll be able to manage your username/password, update your contact information, update your preferences, pay invoices and take a survey to tell us what you think of the new site.
With questions or feedback, please contact Julia Miller.
On Thursday, June 18, at 3:00 pm, credit unions are invited to meet for a virtual Town Hall with National Credit Union Administration Chairman Rodney Hood. All MnCUN members are encouraged to attend.
The Town Hall will cover a range of topics, including updates from the NCUA, Hood’s priorities for his term as chair, and an opportunity for attendees to ask questions.
The event is free, however we ask that you please register .
With questions, please contact Mara Humphrey.
These past days have been incredibly difficult for Minnesota, for our members, for us. While as a credit union community we are physically unharmed, we are mentally shaken by the tragic death of George Floyd and the subsequent events that followed. It was incredibly difficult to watch rage boil over into the destruction of a thriving, multicultural residential and commercial sector of Minneapolis. It was heartbreaking to see the unchallenged destruction of government buildings when a post office and police precinct building were over-run, vandalized and burned. It was equally disheartening to see that a full mobilization of the Minnesota National Guard was required to help re-establish order in the streets of Minneapolis and St Paul.
There is also hope. It was heartwarming to see brigades of volunteers from all sectors of the community converge with brooms and shovels on Sunday morning to help clean up neighborhoods that are not their own. Charities have been overwhelmed by donations of water, food, and other personal necessities of daily life. Incredible generosity - that is also part of Minnesota.
Yet the anger is still there - burning. It has always been there. Mostly we as a society have chosen not to see it. We ignore it – until we cannot. And then we really just want to turn down the heat. But we have never actually worked to extinguish the flame. This has to change, and credit unions cannot be bystanders. We must be participants. DEI can no longer be an industry buzzword or HR Department responsibility, but viewed by all in our industry with a much broader lens, and tangible steps taken forward at the most basic level.
I am sure many of you have noticed the Open Your Eyes to a Credit Union bus ad that was present at the time of George Floyd’s murder, captured on video. These images will be with us for a long time as the cases against the four officers proceed through the judicial system. For all of us, these images should be a powerful reminder that credit unions serve people – all people. And that we are present – even in the most difficult times. Over the years we have worked together and made significant contributions to our communities; you have grassroots organized, volunteered, shared acts of kindness – these strengths and values of our movement can hold us up – even when the world seems to be falling apart.
Your work to help members during a pandemic and now civil unrest – and the economic impacts that will follow - is vitally important and a great example of how credit unions can be a force for good in the world. I look forward to continued conversations on how we can cooperatively leverage our unique business model to serve all people, and instigate real and positive change in our communities.
Together, we will make a difference!
Mark D. Cummins
President & CEO, Minnesota Credit Union Network
In light of the Covid-19 crisis, the Minnesota Credit Union Awareness Initiative shifted strategy to focus on how credit unions are supporting their members and communities through the pandemic. This includes paid Public Service Announcements on web, social media and radio running throughout Minnesota. This strategy will continue through the end of June.
On the national level, CUNA paused the digital Open Your Eyes to a Credit Union® ads as of March 20 due to Covid-19. They have since retooled and calibrated the marketing assets, and are now releasing updated ads into market in several states. Minnesota will begin using the updated marketing assets in July.
Yourmoneyfurther.com remains live, and credit unions participating financially in the Open Your Eyes to a Credit Union campaign have access to social media tools and an updated messaging guide via the Contributor Headquarters portal.
With questions about the Awareness Initiative, contact VP Communications & Engagement Andrea Molnau.
Your team at the Network is diligently working on a new website to better connect you, our members, to the services we provide. The new site will include a new design, easier navigation, and simplified event registration. In addition, members will have access to an updated Member Portal which includes exclusive access to content and more self-service options.
The launch is planned for the week of June 8th.
Please note we will not be publishing the Pulse that week. Members will need to set up a new profile for the site – we will email you an invitation with links and instructions on how to set up your new credentials. Those members currently serving on Network Boards and Committees will also receive instructions on how to access your new group pages.
We invite you to attend a webinar which will provide a virtual tour of the new site and guide to our new Members Only area. There are two options – one webinar for credit union employees on June 16th, and another for our business partners on June 18th. Please register by following the appropriate link below.
New MnCUN Website Walk-Through for Credit Unions – Tuesday, June 16 at 10 a.m. :
New MnCUN Website Walk-Through for Partners – Thursday, June 18 at 10 a.m.
The Pulse is MnCUN's newsletter that keeps credit union professionals and board members updated on current news and information.