MnCUN Celebrates 2023 Accomplishments

The Minnesota Credit Union Network is proud to share accomplishments of the past year that we have undertaken on behalf of Minnesota Credit Unions. 2023 was a significant year for MnCUN as Mara Humphrey was appointed to lead the organization as President & CEO.​

​Dynamic, Bold Advocacy 

• Tracked 70 bills during the 2023 Minnesota legislative session and offered testimony, written comments or met with legislators on numerous issues at the Capitol, including: climate risk surveys, personal finance course requirements for high school graduation, recreational cannabis, coerced debt, payday loan rates, lienholder issues, Property Assessed Clean Energy (PACE) programs and several others.  
• As a result of working with Minnesota Congressional Delegation, four signed on as co-sponsors for the Credit Union Board Modernization Act and helped ensure it passed the U.S. House unanimously in 2023. Additionally, Senator Klobuchar agreed to co-sponsor the Senate version of the bill.  
• Worked with the Minnesota Department of Commerce to provide guidance to allow state-chartered credit unions to compensate for non-insurance product sales.  
• Responded to over 400 compliance and regulatory inquiries and submitted comment letters to the NCUA and CFPB on Credit Card Late Fees and Climate Related Financial Risk RFI and the FHFA on the FHLB Review Process.  
• Organic and paid ads generated 393.4K visits to yourmoneyfurther.com from Minnesota; with a conversion rate of over 6% (number of users taking desired action on the page – including visiting the locator, entering a zip code, visiting a credit union landing page, or clicking on a credit union link). Engagement rate with the social ads was over 15%.   

  
Inclusive Collaboration 

• Offered over 120 education sessions and webinars; including major events IMPACT Day at the Capitol, GAC, ACCELERATE 23, CEO Conference and LEAD 23, and events for the CREW Young Professionals Group & Women’s Leadership Network. 
• 19 credit union professionals earned the Minnesota Credit Union Executive Leadership Certification through the Trailblazers program.   
• 28 students participated in the Enhanced Financial Counseling Certification Program (FiCEP) in Minnesota in partnership with Mark Lynch and CU Difference, and the Wisconsin and Montana Credit Union Foundations.   
• Honored 7 Credit Union Builders.  
• MnCUN staff held “Network 2.0 Regional visits” at all six Chapters (Lakes and Pines, Hiawatha, Central, Twin Cities, Southwestern, and Arrowhead) in Minnesota, sharing MnCUN’s mission and vision and collecting questions and comments from over 160 credit union attendees.  
• The Minnesota Credit Unions for Kids Committee raised $150,532 benefiting Gillette Children’s and the Foundation Scholarship Council awarded $16,000 in scholarships to sixteen Minnesota credit union members. 
• 55 credit unions/organizations participated in CU Forward Day. 2,321 volunteers put over 14,500 volunteer hours impacting 680 community organizations with $59,176 dollars donated and expanded the kindness day initiative nationally to 7 credit union leagues in 8 states. 

 
Innovative Solutions to Empower Acceleration 

• ​Created insurance agency to provide Medicare Advisory services to credit union members resulting in 133 clients at six credit unions saving $138,000 dollars in premiums. 
• WINcentive – Minnesota program has over $12 million saved; over $75 million saved in TruLync managed PLS programs across the country. 
• Created formal entity to support Tri-State Solutions to create foundation for more opportunities. 
• Completed 67 Audit Engagements for 27 credit unions. 
• Held compliance webinars for CECL, BSA/AML, Senior Fraud Prevention, Recreational Marijuana Law, and Paid Family Leave (with Earned Sick and Safe Time Law) and two in person Compliance and Legal Outreach meetings in Brooklyn Center and Duluth. ​

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MnCUN staff would like to thank each member for supporting a thriving credit union system in Minnesota. We truly value the important work you do every day for your members, which inspires us to advocate on your behalf to make that job easier. Thank you for your continued support and trust and we look forward to advancing the credit union movement in 2024!