Dakota CU News & Notes

​Last call for Wegner Awards; BND names new president; leadership changes at Alloya Corporate; and a CEO opportunity in Fargo. 

Last Call for 2025 Wegner Awards
Do you know a visionary leader, program, or organization making waves in the credit union movement? There’s still time to nominate them for the prestigious Wegner Awards! Named after Herb Wegner, these awards celebrate those who see beyond the present to shape the future. Presented by the National Credit Union Foundation during the GAC in Washington, DC, these accolades are the highest honors in the credit union world. Nominations are due by July 26, 2024. Access the 2025 Nomination Packet and visit ncuf.coop to learn more.
 
BND Names Don Morgan President/CEO
The North Dakota Industrial Commission has named Don Morgan as the next President and CEO of the Bank of North Dakota (BND) at its meeting on July 2, 2024. Morgan succeeds Todd Steinwand who retired effective July 2, 2024, after serving in the position since July of 2021. Morgan has worked in the banking industry for over 23 years and most recently served as chief executive officer and bank president for Starion Bank. A Wyoming native, Morgan earned a bachelor’s degree in finance with an accounting minor from University of Wyoming and a master’s in accounting from the University of Phoenix.
 
In 2023, the state-owned Bank of North Dakota reported total assets of $10.1 billion, record profits of $192.7 million and a return on investment of 18.2%. BND’s profits are utilized to support loan participations with partner financial institutions and to support disaster recovery programs. Profits may also be used to support legislatively directed loan programs and capital transfers to the general fund. Excess earnings are retained and accumulated to fund capital. In 2023 Standard & Poor’s (S&P) affirmed the Bank’s credit rating as A+/Stable. The Bank’s mission “to support agriculture, commerce and industry” has not changed since its earliest days in 1919. The Bank of North Dakota is the only state-owned bank in the nation.
 
Alloya Announces Leadership Changes
Alloya Corporate FCU has announced Tom Slefinger, Senior Vice President of Institutional Fixed Income Sales, will step down from his leadership role at Alloya Investment Services as he transitions into a new role as the corporate’s Market Strategist. Slefinger joined the corporate in 2008, serving multiple roles and eventually overseeing the broker-dealer services of the corporate’s wholly owned credit union service organization (CUSO), Balance Sheet Solutions. In 2019, the corporate’s broker-dealer services rebranded to Alloya Investment Services, a division of Alloya Solutions, LLC. Over the course of his 16-year career with Alloya and its CUSO, Slefinger managed operations associated with institutional fixed income sales and optimized portfolio performance at the credit union level. Prior to joining Alloya, Slefinger was a Senior Vice President and Principal of Van Kampen Investments, a wholly owned subsidiary of Morgan Stanley.
 
Bill Paton, Vice President and Manager of Alloya’s Loan Participation and Subordinated Debt Programs, has been named Capital Markets Sales Director, taking over the management responsibilities of Alloya Investment Services, adding to his current management responsibilities. With 17 years of service at Alloya, Paton has sought ongoing opportunities to expand upon the corporate’s offerings to credit unions through the launch of a Loan Participation Program and Platform, Subordinated Debt Program, Sale-Leaseback Program and now an overarching Capital Markets Program. Paton also contributes to the corporate’s monthly publication, Capital Markets Monthly, and participates regularly in speaking engagements at credit union events across the country.
 
President/CEO Opportunity in Fargo
Fargo Public Schools Federal Credit Union is now seeking their next President/CEO. The credit union has $56 million in assets and serves over 2,300 members; supported by the Fargo Public School system, it has a healthy foundation to build upon. Duties include developing a strategic plan to lead a team forward in growth. This individual will maintain the strong financial structure of the credit union and have a strong foundation in analyzing and interpreting financial data. Application deadline is August 15, 2024.  Click here for additional information; email resumes to: Karla Volrath at [email protected] with CEO Position in the subject line.
 
TruStage Discovery 2024 Conference
Registration is open for the Discovery2024 Conference with TruStage. This annual virtual conference is your gateway to strategic industry insights you need to help navigate the evolving financial landscape and the diverse needs of members. The free event takes place on Thursday, August 8, 9:00 a.m. (CT) – 4:00 p.m. (CT). Join this valuable virtual conference to uncover actionable data and trends designed to empower your credit union to engage with members in digital, yet profoundly human-centered, ways. Click here to register and review the full agenda.
 
FREE Holiday Signs
DakCU has an assortment of messages for upcoming 2024-2025 federal holidays FREE for your use on your credit union branch doors, websites, and social media. The signs can be downloaded here. If you need a different size and/or format, don’t hesitate to contact Lindsey Hefta at 701.250.3968.
 
Credit Unions United “Operation Thank You”
Credit Unions United Chapter has once again launched “Operation Thank You” to support local veterans. Participating credit unions will be collecting personal care items and hygiene products now through July 15. Cash Donations are accepted at North Star Community Credit Union; contact Sandi Widdel with any questions or to make a contribution.
 
SWAP Contributors – FREE Job Postings on Try a Credit Union!
Contributing SWAP members have access to FREE job postings on the Try A Credit Union website! To have a job posted, contact Lindsey Hefta with your job description and she will be happy to assist you. The successful results we are seeing with our state-wide awareness program (SWAP) means we are increasing credit union awareness and consideration of credit unions as a better financial services option for consumers all across the Dakotas! It’s not too late to get on board for 2024. Contact Lindsey to find out how SWAP can reach more consumers in your area.
 
SalesCU Training
2024 dates are available for SalesCU workshops. SalesCU training offers practical and proven sales techniques and strategies that actually work in a credit union setting to bring affordable and convenient sales training to our Dakota credit unions. If you want to develop employees who know how to sell in a way that adds value to the member, and sales leaders who are empowered to drive results through developmental coaching and meaningful accountability, we have an award-winning solution for you! Additional information on upcoming sessions available here or contact George McDonald, Chief Officer of Strategic Services at 701.250.3942.
 
Leadership Development
Our iLead@11 DakCU Emerging Leader Program is designed specifically for credit union professionals in the credit union industry interested in enhancing their careers for advancement. Based on the popular Leadership@11 program designed by Eleven Performance Group, it is an ongoing program that allows participants to start whenever they want and determine their own pace. For a limited time, reduced pricing of just $1,999 per person and scholarships are also available! Learn more here.
 
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Please help us to make sure that your employees are receiving the Memo and are in our database for other important information. We strive to bring you the latest important information related to advocacy, compliance, networking and educational opportunities, and more. Is everyone at your credit union receiving this information? Be sure we have the names, title, and email address of any new employees. The more information your staff has, the better for all of us!  Email Shawn Brummer to be added to our distribution list or sign up directly here on our website.
 
In the Spotlight
Do you know someone at your credit union or another credit union, either employee or volunteer, who has an interesting story?  Nominate them for the CU Professionals Spotlight by emailing their name and a brief explanation of why they are “Spotlight” material to Shawn Brummer.
 
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Submit your news to Shawn Brummer. Employee promotions, awards, new products or services, community involvement/recognition, job openings, all are welcome!