​As a credit union, your goal is to help your members achieve all of their financial needs, wants, and dreams. To reach this goal you need a team that is consistently promoting the products and services that will help your members save time and money, make more money, and bring greater levels of financial security to their life. The only problem is the member service your team provides is best described as “Order Taking” rather than “Value Creating.”

If this describes your credit union, you are not alone. Many, if not most credit unions struggle with an “Order Taker” approach to service and sales, and they are looking for a way to change it. In this webinar, we will discuss the 4 essential elements to build and maintain a highly effective sales and service culture which is focused on creating value rather than just taking an order:

• Fostering a member centric mindset within the credit union
• Providing effective sales processes and skills training
• Establishing a culture of coaching
• Shaping performance through meaningful accountability

In addition to addressing these topics, SalesCU will provide sales processes and skills suggestions and resources to begin training your team.

Monday, November 8, 2021 2:00 PM - 3:30 PM CST
Free 90 Minute Webinar
Presented by: Nick Brown, Member Services Guru of SalesCU

Who Should Attend:
This webinar is ideal for all credit union sales and service leaders which includes lending, branches, contact center, marketing, and training. 

Ransomware developers and affiliates have been telling victims that they must pay the ransom or stolen data and internal company secrets would be publicly released. Unfortunately, six- and seven-figure demands have become routine among ransomware attacks.
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"These cyber attacks have no boundaries and are truly a global issue. Ransomware has grown in frequency and severity and extortion demands have risen significantly. A ransomware incident is one of the most disruptive and costly attacks your organization can suffer,” according to Derek Laczniak, CIC, Director-Cyber Liability at M3 Insurance. Laczniak, who leads the cyber liability strategic relationship with M3 and CUNA Mutual Group, adds, “There’s no foolproof way of preventing ransomware attacks from occurring; however, there are a number of things to know to help you be prepared.”

Review “Ransomware: A Checklist of Things to Know” to learn more about how your credit union should prepare.
If you’d like to discuss ransomware or cyber risks in more detail, simply schedule a no-cost personalized discussion with a CUNA Mutual Group Risk Consultant or contact us at riskconsultant@cunamutual.com or at 800.637.2676.

This article is provided as part of our partnership with CUNA Mutual Group. Contact John Ferstl, MnCUN Chief Operations Office, for more information.

CUNA Mutual Group and Inclusiv are collaborating to help raise credit union awareness and utilization of the Community Development Financial Institution (CDFI) program: 
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• Need guidance on CDFI Certification? Join the Inclusiv/CUNA Mutual Group Office Hours. Inclusiv staff will provide an overview and answer questions pertaining to CDFI Certification every Wednesday from 2:00 - 3:00 pm.
  • In 2021, an unprecedented level of funding was allocated to CDFIs by the CDFI Fund and Treasury's Emergency Capital Investment Program. The next round of CDFI funding ($1.75 billion) will be targeted specifically to MDIs; however, only 15% of minority-designated credit unions are CDFI certified. Inclusiv offers specific resources targeted to MDIs interested in becoming CDFI certified and accessing these federal grants. Every third Wednesday of the month, the office hour will be dedicated to MDIs (September 15, October 20, November 17).
    
    

• The Streamlined CDFI Application Qualifying Round opens September 12-October 15th: On August 25, 2021 NCUA provided the following newsroom update. You can also find some helpful video tutorials on the Streamlined Application in the Inclusiv video library.  
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• 2021 Inclusiv e-Books Juntos Avanzamos and the CDFI Credit Unions Build Inclusive Economies. 

It’s an inconvenient truth - the timing of customers’ financial needs don’t always align with balance sheet strategy or marketing campaigns. Due to the pandemic, banks and credit unions were flooded with an unprecedented level of deposits but faced muted demand for the loans that put these funds to work. 

Although no one has a silver bullet to synchronize customer needs with portfolio strategy, there may be an equation. SRM’s latest white paper, How Financial Institutions Can Boost Account Growth to Move with Changing Margins, offers a disciplined approach to being present when customers are “in-market” as well as a “growth equation” to boost account growth performance.

SRM is a MnCUN Strategic Alliance. Contact Kris Jacobsen, Director of Business Development, to learn more.

Join our webinar to hear more about Credit Union Loan Source's monthly loan participation program, which is available to state-chartered credit unions in Wisconsin and Minnesota. 

Credit Union Loan Source (CULS) can help your credit union supplement your loan portfolios and boost income. The CULS program offers a monthly flow of high yielding, high quality indirect loan pools. Loans are underwritten to uniform guidelines for prime loans and are designed to maximize net yields while maintaining acceptable levels of credit risk and loss performance. CULS handles the entire loan cycle from origination, servicing and collection.

Thurs., Aug. 26
Time: 1:00-2:00 p.m.
Location: Webinar/Video Conference 
Cost: Free
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​Contact Kris Jacobsen, MnCUN Director of Business Development, with questions.

Across the credit union system, auto loan growth has flattened in recent years. Consumer preferences, economic conditions, competition, and technology have been shifting since long before the start of the COVID-19 pandemic. Even under normal conditions, these changes are nothing to ignore, especially when vehicle financing through auto loans makes up a significant portion of credit unions’ loan portfolios. But what does a flattened market and a shifting environment added on top of a life-changing pandemic mean for credit unions when it comes to their auto lending business?

While I can’t predict the future, as much as I wish I could (hello, lottery tickets!), I can tell you from my years of experience working in credit union, auto lending and technology fields, what the trends I’m seeing are pointing toward, what Filene’s research on auto loan trends and challenges are projecting for the impact to the industry, and what you should be planning to do about it.
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First, this goes without saying, but I want to be very clear: a solid understanding of current auto trends has never been more important. In addition to auto loans making up a significant portion of credit unions’ loan portfolios, a robust auto loan portfolio offers an asset that allows your credit union to be responsive to the interest rate market without the long-term risk inherent in the mortgage space.  

​For details about prize-linked savings, please contact Director of Engagement, Ben Hering, via email. More information about WINcentive Savings, including a list of participating credit unions, can be found at wincentivesavings.org.

CUNA's The State of Small Credit Unions Today cited health care costs as a top challenge facing small credit unions. This is not limited to small credit unions -- many credit unions don’t have the scale and number of employees to receive competitive pricing. This combined with continuing rising costs often means a reduction in the quality of the benefits a credit union is able to provide, which creates issues in obtaining and retaining talent. It’s also an issue that is likely to get worse, not better. According to a recent article published by the Society for Human Resource Management (SHRM), inflation, shortages of nurses and supply shortages will likely drive up the cost of health care. According to one source, costs will double in less than 10 years.

Rising health care costs and cost volatility are two of the factors that to led formation of an association healthcare plan for Minnesota credit unions -- the Minnesota Credit Union Employee Benefits Plan. By pooling costs under one plan, Minnesota credit unions have more bargaining power and control, can reduce healthcare costs and volatility, and offer more options to offer employees. The plan is currently fully insured and the goal is to become self-insured, which helps to further reduce costs and volatility. The faster the plan grows, the sooner that goal is realized. 

Get Competitive Pricing, Request a Quote Today
Pricing for 2022 should be available within the next few weeks. Please consider obtaining a quote. Visit our website for more information on the plan, including information on plan designs, provider networks, wellness benefits and ancillary benefits. If you have questions, are interested in learning more or obtaining a quote, contact Tim Tacheny or Tommy Rempfer of MnCUN.