Legislative & Regulatory Update

John Alexander takes a deep dive - literally! Plus, are you taking advantage of your DakCU membership benefits with compliance? ​

by John Alexander, Director of Legislative & Regulatory Affairs

​A Dance with Glacier Lake
This past weekend, following the advice of some locals, I (and my significant other) embarked on an adventure to Glacier National Park. Despite the relentless rain and snow, our spirits remained undampened. Each day, we hiked roughly ten miles, undeterred by the weather, embracing the wild beauty of the park. One particular hike led us to a spectacle of six waterfalls cascading from one massive fall, creating a vibrant display of nature's artistry. The soaked landscape enhanced the colors of the rocks, making them stand out vividly in a photograph of me leaping from one side of the waterfall to the other. It was a majestic, almost surreal experience.

​On our second to last day, we set forth on our greatest adventure of the year—a 1,600-foot ascent to the mountain tops surrounding Glacier Lake. As we climbed, the snow poured down like a scene from my childhood memories of Narnia. Reaching the summit, we were greeted by a second lake, a breathtaking mirror of the first, formed by the runoff from Glacier Lake. The sight was so compelling that I felt an irresistible urge to swim across it.

Finding a short rock on the west side of the lake, I prepared for my icy plunge. With a deep breath, I dove headfirst into the frigid water, breaking through the thin ice that covered the surface. The cold was shocking, nearly stealing my breath as I began to swim. My lungs felt like they were being pierced by hot spikes, and every instinct screamed at me to surface, but I pushed on, determined. I swam perhaps fifteen feet before my limbs began to ache, my fingers tingling as if they were asleep, my feet pricking like they were stepping on Legos. Despite the pain, I kept my composure, resurfacing only to find my face pressed against the ice once more. Gathering momentum, I broke through on my second attempt, gasping as the cold mountain air filled my lungs.

The water was bluer than anything I had ever seen, reminiscent of the scene in Game of Thrones where Daenerys Targaryen’s dragon was dragged onto the frozen lake. I pressed on, each stroke a battle against the numbing cold. My fingers screamed for me to stop, my limbs tingled, and every breath felt like my lungs were about to explode. Yet, my mind had never been clearer. It was exhilarating, freeing, and dangerously intoxicating. I felt more alive in that moment than ever before. I could see the snow-capped peaks, the snowy banks, and the flurries falling around me. The lake's bottom, hundreds of feet below, seemed as close as the sky above. In that brief moment, I felt connected to the very essence of the mountain.

I swam almost the entire length of Glacier Lake, emerging from the icy water with a growl of triumph. My skin stung as the wind whipped against it, my legs shook, and I nearly collapsed several times. My fingers barely moved, my breath came in heavy gasps, and my eyes burned from the cold. But I was in awe of the moment and the raw, unfiltered intensity of life itself.

Climbing back up the cliff to retrieve dry clothes and warm jackets, I had never felt more alive or thankful. The other hikers, witnessing my feat, clapped and called me crazy, some even joking about following suit. I called out to them to make the jump, but they only laughed. I had done something extraordinary that day, something that was clear to me and to everyone who witnessed it. It was a moment of pure majesty, an experience that will stay with me forever.

While diving head first into ice cold water may seem risky, your compliance solutions do not have to be so scary! 
Did you know that membership in the Dakota Credit Union Association (DakCU) provides you with several valuable dues-supported products and services? Today, I am going to briefly review some of these.

First, we have a partnership with ViClarity, a world leader in credit union compliance solutions. This collaboration provides our members in the Dakotas with comprehensive compliance support at no additional cost. ViClarity’s expertise in governance, risk, and compliance consulting ensures that credit unions can rely on them for any compliance questions, policy or disclosure reviews, and preparation for external or regulatory audits. 

ViClarity is committed to making regulatory compliance easier through their superior consulting services and technology solutions. They currently support nine credit union leagues and associations across 16 states, serving over 1,000 credit unions nationwide. Their services encompass governance, risk, and compliance management, enabling credit unions to stay focused on improving the financial well-being of their members and communities. As a DakCU member, you have access to exclusive ViClarity resources, including a Compliance Hotline, Compliance Updates, Quarterly Webinars, BSA Training, and a comprehensive suite of online resources.

In addition, DakCU offers CU PolicyPro free of charge as a dues-supported benefit of membership. This service offers access to over 230 detailed model policies, assisting members in managing today's complex compliance and operational challenges. Paired with InfoSight, CU PolicyPro provides a comprehensive suite of policies and regulatory compliance guidance tailored specifically for credit unions, crafted by legal and financial experts to ensure relevance and precision.

CU PolicyPro stands out by offering not just model policy content, but a robust policy management system that allows customization to meet the unique needs of each credit union. This user-friendly system facilitates easy maintenance of all policies in one centralized location, enabling credit unions to add and manage their existing policies seamlessly. Explore the comprehensive suite of on-demand New User Training videos and resources area today and simplify your policy management process.
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Feel free to contact me with any questions about these value-added benefits of membership!