Greetings and Happy Monday!
Dakota Credit Unions Impact the NCUA Strategic Plan.
The Dakotas made a positive impact as we successfully led the charge and got the NCUA to make favorable revisions to their Strategic Plan last week. The new approved Plan included several (albeit relatively minor) changes, including revisions to the narrative describing the long-term risk posed by climate-related financial risk, which drew heavy criticism and comments from Dakota credit union leaders.
Governor Burgum (ND), Agriculture Commissioner Doug Goerhring, as well as Senators Hoeven (ND), Thune (SD), Cramer (ND) Rounds (SD), and Representatives Armstrong (ND) and Dusty Johnson (SD), all weighed in on the plan that lays out the agency’s strategic goals objectives for the next five years. The revisions included the clarification that the agency does not intend to micromanage credit union lending decisions for climate-related financial risk, and that nothing in the Plan should be construed as discouraging activities related to agriculture or fossil fuels.
It was a bit disappointing to see the lack of comments from industry stakeholders; there were only 16 total comments on a plan that provides the agency’s direction for the next four years. I’m quite certain a majority of those comments came from our Dakota credit unions and our Dakota federal and state officials, and we are thankful for their engagement. As inflation continues to impact everyone, our food producers are expecting an increase of $400 to $500 an acre this spring. We will continue to hold the NCUA accountable on their statement to “not micromanage” our credit unions that have concentrations in agriculture and farm production lending.
Survey Reveals Depth of League System Engagement
Following the recent GAC, the American Association of Credit Union Leagues (AACUL) released an infographic and press release regarding the success of the League System. Information compiled from a survey of all 50 states and the District of Columbia clearly demonstrates the collective power of League advocacy, our commitment to our member credit unions, and their 130 million members. Again, we thank you for your continued support as we work to advocate on your behalf and ensure the continued success and growth for our movement.
2022 GAC By the Numbers
The results are in and the return of the in-person CUNA GAC meetings in late February and early march were quite impressive. More than 4,900 credit union advocates participated, including nearly 3,000 registered guests, over 1,480 vendors, 265 virtual attendees, as well as speakers and CUNA support staff. If you are interested in attending for the first time, or returning to DC with us next year, the 2023 GAC is scheduled for February 26 – March 1.
Special DakCU Town Hall Guest: Tony Budet
I am pleased to announce that Tony Budet (photo right) has accepted my invitation to be our special guest on our next virtual Dakota CEO Town Hall on Tuesday, April 5th. Tony is the President/CEO of University Federal Credit Union, Austin, Texas, and was elected chair of the CUNA Board of Directors in February. He will provide an exclusive CUNA update for our Dakota CEOs. If you haven’t received the link/invite to this meeting and would like to attend, please contact me.
Town & Country Names Interim CEO
I would like to congratulate Kalli Schell, SVP Operations at Town & Country CU (Minot, ND) on being named interim President/CEO following the departure of Jeremiah Kossen. Kalli is an experienced executive with 20 years of service in the industry. Her extensive knowledge of operations, lending, member services and human resources certainly qualifies her to lead the team of 160 employees.
Your Comments Wanted on ND Appraisal Process
Jay Kruse, DakCU’s Chief Advocacy Officer, has been invited to attend the ND Real Estate Professionals Summit in Bismarck later this month. In case you missed it, Jay is asking for your experiences with recent appraisal and appraiser interactions as he prepares for a conversation with the ND Real Estate Professionals. Communication, as always, is the key to trying to solve some of these issues. Please reach out to Jay with any relative information at email@example.com.
$ave with Summit Early Bird Registration
This is the final week to take advantage of our Earl Bird Discount for the Summit. Be sure to register by Friday, March 25th for the special price of $349. Next week, the price will be $379 – so if you know you will be attending our signature event, we strongly encourage you to register now. Our staff is looking forward to seeing many of you at the Holiday Inn Rushmore Plaza in Rapid City, SD on May 10 – 11 as we unite to gain insights on all things credit union!
Summit Donations Needed!
Speaking of the Summit, our Dakota GAC Committees are seeking donations for our Silent Auction which raises money for our Roger Heacock Scholarship Fund. These scholarships provide financial assistance to our Dakota credit union professionals who attend the CUNA GAC and our fall Hike the Hill advocacy events. We are asking each credit union to donate an item valued between $75 and $100 (or more.) If you have any questions or need some ideas for your donations, please contact Jay Kruse.
Have a great week, and thanks for all you do!
The Memo is DakCU's newsletter that keeps
Want the Memo delivered straight to your inbox?