Regulation P implements the Gramm-Leach Bliley Act of 1999 (“GLBA”) requiring credit unions to create and disclose to members their privacy policies with notice of the information gathered from members for sharing with third parties while giving members the opportunity to opt-out.

Join the upcoming Analysts/Business Intelligence Peer-to-Peer (P2P) on March 28 starting at 1:00 p.m. via webinar and video conference. 

P2P sessions will continue to be held as virtual roundtables, providing open forums for credit union staff throughout Minnesota, for knowledge sharing, resources and connections. 

The spring session will be an open format conversation with peers on Business Intelligence. This event is meant to be an opportunity to meet and share with one another. The open session and forum will conclude with time to discuss questions with participants. 

Date: March 28, 2023
Time: 1:00-3:00 p.m.
Location: Webinar/Video Conference 
Cost: $49

This event will be made only via webinar/conference call. Webinar and call-in instructions, along with recordings, session materials and resources, will be provided to registered attendees.
Stay tuned for further announcements and updates!

For a list of all P2P sessions, visit our Peer-to-Peer (P2P) webpage. With questions, please contact VP of Communications & Engagement, Andrea Molnau, by email.

Last week, Tristate Products & Services, a collaboration with the Minnesota, Montana, and Wisconsin leagues hosted a webinar with QCash Financial. Seth Brickman, QCash CEO, discussed how it's imperative credit unions take action to steer members toward the safety and financial security of their local credit union. 

​Some key points:

• Convenient and fast, your members can get a loan 24/7. See the process in this 2-minute demo.
•  Solution allows you to price the loan correctly while serving your members where and when they want to be served.
• Allows your credit union to offer an alternative to higher rate providers that are targeting your members today.
• Digital first financial inclusion and member advocacy through this product offering.

For more information please review this Informational sheet on QCash. Also please feel free to reach out to QCash at Contact Us - QCash Financial.

CUNA Strategic Services is also a proud supporter of both Tristate Credit Union League & Services and QCash. CSS is constantly exploring innovative solutions that will drive membership growth and operational excellence, ultimately streamlining operations and enhancing the member experience for credit unions. When we identify an offering that will benefit the industry, we collaborate strategically with the provider to determine how we can collectively deliver their solutions to serve credit unions nationwide.

Through the Minnesota Credit Union Employee Benefits Plan's partnership with Lockton Companies, credit unions have access Lockton Compliance Services & HR Compliance Consulting resources.

As a member benefit, Minnesota credit unions can access their catalogue of webcast and presentation slides (log-in required). Topics cover a wide variety of labor and employment issues to help navigate the ever-changing landscape of federal, state and local employment laws. 

About Lockton Companies 
​​Lockton Companies is the world's largest privately owned, independent insurance brokerage and consulting firm with offices on six continents. The more than 7,000 professionals of Lockton serve over 52,000 clients around the world with human resources, total rewards and employee benefits advisory services in addition to risk management, insurance and surety services. The Lockton Total Rewards Consulting Practice helps employers use all available tools to attract, retain and motivate employees. Our process for data-driven decision-making and analysis drives human capital costs to their most efficient levels, based on strategy and options. 

The Minnesota Credit Union Foundation Scholarship Council (FSC) is requesting your support for our annual Silent Auction fundraiser to benefit our scholarship program! 

Our annual Silent Auction will be held April 13 & 14, 2023 at the Radisson Blu Mall of America in Bloomington. As a signature event of the Minnesota Credit Union Network’s Annual Meeting & Convention, hundreds of credit union employees and their affiliates will bid on auction items. All money generated from this fundraiser goes directly to students through scholarships. Our goal is to raise $12,000! Details about the FSC are available at www.mnfsc.org.

We hope you will consider a donation of either a silent auction item, or a monetary/cash donation to help make our goal a reality! Your support is greatly appreciated, and any donation you make is an investment in the youth of Minnesota. 

Contributions:
Cash donations: Please submit with a contribution form* to the address below. Checks should be made payable to: Minnesota Credit Union Foundation; with “FSC” in the memo line. OR donate online at www.mnfsc.org

Foundation Scholarship Council
Minnesota Credit Union Foundation
555 Wabasha St N, Suite 200
Saint Paul, MN 55102

Item donations: Please submit with a contribution form as soon as possible for our records. The item can be sent to either the address below no later than Friday, April 7 or deliver in person at the FSC Silent Auction booth any time Thursday morning, April 14, 2023.

Andrea Molnau 
Minnesota Credit Union Network
55 Wabasha Street N, Suite 200
St. Paul, MN 55102

The collapse of Silicon Valley Bank on Friday is the second largest failure of a financial institution in U.S. history.  The bank was shut down and put under the control of the FDIC following a 48-hour bank run and capital crisis. While this was not a credit union failure, we recognize it may still create consumer concerns regarding the safety of their deposits. MnCUN and CUNA offer the following to help your staff members address any questions they may encounter from members.  

• All Minnesota credit union deposits are federally insured by the National Credit Union Administration (NCUA) per individual up to $250,000, just as bank deposits are insured by the FDIC.
• Minnesota Credit Unions want to reassure members their money is safe with a credit union.
• The NCUA insurance that all of our members have is meant to provide consumers’ confidence during times of uncertainty.
• The National Credit Union Share Insurance Fund was created by Congress in 1970 to insure members' deposits in federally insured credit unions. Administered by the NCUA, the Share Insurance Fund insures individual accounts up to $250,000, and a member’s interest in all joint accounts combined is insured up to $250,000.
• The Share Insurance Fund separately protects IRA and KEOGH retirement accounts up to $250,000.
• The Share Insurance Fund has the backing of the full faith and credit of the United States.
• Credit union members have never lost even a penny of insured savings at a federally insured credit union.

Other Resources:

• In addition to federal insurance, many credit unions offer additional private or excess deposit insurance. Visit MyCreditUnion.gov for more information about the National Credit Union Share Insurance Fund coverage for consumers.  
• CUNA has created a resource page with talking points and social media post options that address safety and soundness concerns.
• MnCUN Vice President Communications and Engagement, Andrea Molnau, was a guest on The Morning News with Vineeta Sawkar on WCCO Morning News and emphasized how credit unions are member-owned and deposits are insured.
• MnCUN Director of Governmental Affairs Ryan Smith, will be on the Wrong About Everything podcast to provide context and the credit union perspective today. The livestream begins at 4:30 p.m.
• The Federal Reserve is hosting an "Ask the Fed" webinar today to provide an overview of the Bank Term Funding Program and address frequently asked questions that have arisen since the program’s launch.

​
Please do not hesitate to reach out if we can be of assistance. MnCUN will provide updated information on the Silicon Valley Bank situation as available.

Last Friday, the Minnesota Credit Union Network staff provided an overview on legislative and regulatory priorities, events, initiatives, and updates credit unions can look forward to in 2023. A recording of the webinar is available on the Member Portal (log in required).

Do you have events planned for Financial Well-being Month in April or want to highlight your credit union’s ongoing efforts? Financial Well-being Month is an opportunity for credit unions to demonstrate their commitment to providing financial education to their members and communities. 

​Credit unions are encouraged to share their plans for April or financial education success stories with the Minnesota Credit Union Network by contacting Director of Communications Julia Miller by email by March 29, 2023.

Celebrate Credit Union Youth Month
This April, celebrate the spirit of the credit union movement with younger members during National Credit Union Youth Month. During this industry-wide celebration, you can help plant the seeds of financial well-being. 
Here’s how some credit unions celebrate Youth Month: 

• Contests and giveaways (coloring or writing contests)
• Special incentives and promotions (for opening a new account) 
• Financial literacy workshops for young members 
• Special savings match programs for youth accounts 
• Branch parties 

You and your credit union are part of a support system that can help kids understand the importance of saving and developing good financial habits. Together, let’s Unleash the Power of Saving at Your Credit Union™!
Learn more, get free resources, and purchase themed assets and products at cuna.org/youthmonth.