The President’s Perspective

​Celebrating 90 years of the FCU Act; ND PAC golf outing is a fundraising success; next CEO Town Hall scheduled for July 9; and much more! 

Celebrating 90th Anniversary of the Federal Credit Union Act
We’ll kick off the week with a little history lesson. Tomorrow, Wednesday, June 26, is a significant milestone in credit union land, as this year marks 90 years since the Federal Credit Union Act was signed by President Franklin D. Roosevelt.
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In the depths of the Great Depression, President Roosevelt signed this historic legislation into law and laid the foundation for the credit union movement in the United States, bringing financial services to millions of Americans and fostering a spirit of cooperation and mutual benefit that endures to this day.
 
The Federal Credit Union Act was born out of necessity and vision. At the time, many Americans found themselves excluded from traditional banking services, facing economic hardships and a lack of access to affordable credit. The Act was a response to these challenges, enabling the creation of federal credit unions that could provide savings accounts and low-interest loans to their members, particularly those of modest means.
 
Upon the 50th anniversary in 1984, President Ronald Reagan proclaimed, “Credit unions are uniquely democratic economic organizations, founded on the principle that persons of good character and modest means, joining together in cooperative spirit and action, can promote thrift, create a source of credit for productive purposes, and build a better standard of living for themselves. Because credit unions exemplify the traditional American values of thrift, self-help and voluntarism, they have carved a special place for themselves among the Nation's financial institutions.”

This week as we celebrate the 90th anniversary, it is important to reflect on the values that have driven this movement: cooperation, community, and a dedication to serving the underserved. These principles have not only sustained credit unions through decades of change but have also positioned them as leaders in promoting financial inclusivity and social responsibility.
 
Looking to the future, the credit union movement faces new challenges and opportunities. Technological advancements, regulatory changes, and evolving member expectations will shape the landscape in the years to come. However, the core mission of credit unions—to improve the financial well-being of their members and communities—remains as relevant today as it was in 1934. Be sure to check out the full story in today’s Memo for more information about this special day.
 
Save the date for #ILoveMyCreditUnion
Credit unions will once again be creating a social media blitz on Friday, July 26, when we unite using a common hastag: #ILoveMyCreditUnion. This one-day, organized social media campaign creates more credit union awareness and visibility as credit unions, staff, and members around the country (and even worldwide) post messages across the social media platforms, creating a high-energy trend. I encourage you to get involved by signing up (it’s free – only for tracking purposes) and then create your own message OR choose from a multitude of pre-made and pre-sized graphics found here. Here’s my post ready to go!

Next CEO Town Hall Tuesday scheduled for July 9
Before you head out for the July 4th holiday and a week full of family gatherings and celebrations, be sure to mark your calendars to attend the next CEO Town Hall Virtual Meeting on Tuesday, July 9. Receive an update on the latest activities from your association, from advocacy to upcoming events to credit union awareness wins! We will also have a special guest: Tiffany Villagomez, Compliance Officer with ViClarity. Tiffany has extensive knowledge in board governance, operations, BSA and regulatory compliance, and currently provides state and regulatory compliance assistance and training to ViClarity’s affiliated leagues. Please watch for the meeting email invite from me coming soon!

Three Dakota CUs recognized by Forbes
Forbes magazine recently ranked the top credit unions and banks in the U.S. based on consumer surveys that measured satisfaction and willingness to recommend the financial institution to friends and family. Three Dakota credit unions were named among the 207 that were ranked. Congratulations to: First Community CU (Jamestown, ND); Black Hills FCU (Rapid City, SD); and Levo Credit Union (Sioux Falls, SD). Well done! You can read the full article here.

Sponsors & players wanted for Foundation Golf Scramble
Last week, registration officially opened for the Dakota Credit Union Foundation’s 8th annual Golf Scramble on Tuesday, August 13 in Fargo. This event will be held in conjunction with the CU Professionals Forum, which takes place on Monday, August 12th. We have many sponsorships available; please consider supporting this great event for a great cause! Once again, 100% of proceeds will benefit Sanford Children’s Hospital in support of the CU4Kids Micropreemie Care Unit. I hope to see you there! Details and registration available here. 

North Dakota PAC Golf Outing was a fundraising success!
With several competitive primary legislative contests earlier this month, the North Dakota GAC held a PAC Gold Scramble fundraiser last week at the splendid Memorial Park Golf Course just outside of LaMoure, ND. I want to send a special shout out to Eric Musland and LaMoure Credit Union for hosting the event and we’re looking forward to another great event next year! 

Jeff’s team included (L to R) Harold Hagen, Hometown CU; Jeff Olson; Jakob Olson (Jeff’s son); and Cole Gendreau (soon to be Jeff’s son-in-law).

​DakCU Holiday Schedule
In closing, next week, DakCU offices will be closed on Thursday, July 4th in observation of Independence Day. There will be a special edition Memo on Tuesday, July 2nd, which will be full of information for upcoming events and special dates to mark on your calendars. My next President’s Perspective article will be on Tuesday, July 9. Have a safe and enjoyable holiday! 

DakCU President/CEO