The President’s Perspective

​Summer of interchange continues – help us stop this “big box bailout.” Plus, DakCU staff is celebrating some significant milestones this week! 

The “summer of interchange” continues, and our focus is squarely on the Senate as some members are pushing to have the interchange bill attached to this year’s National Defense Authorization Act (NDAA). Obviously, this bill should not be included in legislation funding our military, and this effort is simply a way to ram this consumer-damaging bill through without even as much as a committee hearing.

The interchange bill is essentially a “big box bailout” that will only benefit large retailers and corporations while harming consumers. Following the implementation of the original Durbin Amendment, free checking services declined, debit rewards programs diminished, and the number of unbanked Americans increased. Additionally, the bill would let merchants choose their preferred routing network exposing consumers to more fraud – not to mention creating less access to credit for consumers. CUNA and the Leagues have emphasized these real data privacy and security concerns to policymakers, and also launched a new digital ad and outlined the problems with the bill in multiple media outlets.

The DakCU Advocacy Team is working with our Dakota delegation to keep this bill out of the NDAA.  We are asking for your help and encouraging all credit unions, volunteers and even members to contact our Dakota senators on this issue. Please use this link to send a message today.  

75th Anniversary of International Credit Union Day.
October 19, 2023, marks the 75th anniversary of International Credit Union Day (ICU Day). It’s a significant milestone for our movement, a chance to celebrate what we’ve accomplished, and a way to share our future goals. Since its inception in 1948, ICU Day has been recognized through outreach, volunteering, fundraising and other activities. I hope you will join me this year in celebrating our collective achievements, unity, and unwavering commitment to financial well-being for all. Now is the time to start planning! To get started, you can find free ICU Day downloads and purchase additional design assets and memorabilia here.  

DakCU staff celebrating significant milestones this week.
This is a special week here at the Dakota Credit Union Association, and I would like to take a moment to acknowledge and reflect on two significant milestones. First, Karla Clark, our CFO, will mark 30 years of service on Wednesday, July 26. And I will also be celebrating on Friday, July 28, as I reach my 15 year milestone.

Teddy Roosevelt put it best: “Far and away the best prize that life offers is the chance to work hard at work worth doing.”
It truly is an honor and privilege to lead the Dakota Credit Union Association and work on behalf of our credit unions across the Dakotas. I sincerely appreciate your support and confidence, and I’m looking forward to reaching the next milestone in a few short years.

Highmark CU executive achieves CCUE designation.
Cassie Pannone, CFO at Highmark Credit Union (Rapid City, SD) recently completed CUNA Management school, earning her Certified Credit Union Executive (CCUE) designation. The CCUE designation is awarded after completing three years of executive education including exams, projects and an oral presentation. This achievement demonstrates the highest level of aptitude in credit union leadership, and we congratulate her on this outstanding accomplishment.

Congratulations to Black Hills FCU on a membership milestone!
I would like to send a shout out to Jerry Schmidt and the staff at Black Hills FCU (Rapid City, SD) on their recent announcement of reaching a big membership milestone. The credit union has now surpassed 100,000 members – and plans to add 2 new locations to their current number of 18 later this year. There is no doubt this credit union will continue to serve their community in great ways in the future. Congratulations!

Professionals Forum and Golf – registration deadlines approaching.
One final reminder, the deadline to register is Friday, August 4th for the DakCU Professionals Forum (August 15) and Foundation Golf Scramble (August 16). This is an opportunity to have open discussions on topics that YOU bring to the table. There will be plenty of time to network during the social on Tuesday evening, in addition to spending the next day at Rose Creek Golf Course for a great cause – to raise money for the new CU4Kids Micropreemie Care Unit at Sanford Children’s Hospital. I am hoping to connect with many of you there.

Have a great week!

DakCU President/CEO