The President’s Perspective

​90 years of the Federal Credit Union Act; new DakCU Board members receive orientation in Bismarck; and exciting things happening this summer with SWAP! 

Signing the Federal Credit Union Act

​GOTV – another credit union acronym? No, GOTV is short for Get Out The Vote. Last week, South Dakota voters turned out for their primary election and today it’s North Dakota’s turn.

There are several key races and challenges that will determine who will be on the general election ballot in November. Most notably, North Dakota Republicans will choose their candidate for the lone seat for the U.S. House of Representatives, which is open for the second time in a decade. Incumbent Kelly Armstrong is not running for re-election and is challenging Lt. Governor, Tammy Miller, to be the Republican candidate for Governor in November. Both the Democratic and Republican primaries for the U.S. House are contested this year. All told, there are seven candidates in the mix: two Democrats and five Republicans.

The race to be the surviving Republican candidate in November are: Cara Mund, an attorney and former Miss America; retired military veteran Alex Balaza (the endorsed candidate); plastic surgeon and former state lawmaker Rick Becker; Public Service Commissioner Julie Fedorchak; and Sharlet Mohr, a Williston nurse. The two declared Democrat candidates are: Trygve Hammer, a teacher from Minot and U.S. Marine Corps veteran; and Roland Riemers, property manager from Grand Forks and perennial candidate. John Alexander will provide a North Dakota primary recap in Thursday’s Memo.
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Celebrating 90 years of the Federal Credit Union Act!
Just 15 days from today we will mark the 90-year anniversary since President Franklin D. Roosevelt signed the Federal Credit Union Act. That historic day came on June 26, 1934, during the throes of the Great Depression, when folks needed financial help anywhere they could get it. Many were already turning to the country’s first credit unions that were slowly becoming popular with factory workers and those that were suffering and seeking financial assistance. I hope you’re planning to take a moment to pause and celebrate this milestone with your members and community. 

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Overseas Military Banking and the impact on the Federal Credit Union Act
Speaking of the Federal Credit Union Act, as I wrote in last week’s President’s Perspective, there has been a debate within our movement over that past several months regarding the Overseas Military Banking Program (OMBP). While this is not a priority for many of you, Jim Nussle, America’s Credit Union President-CEO, shared an update on the issue and the prospective impact on credit unions. Watch the video message here.

Terrance Williams Hosting Town Hall
We are looking forward to today’s (June 11) session, “Navigating New Horizons,” with Terrance Williams, president/CEO of Trustage. This virtual meeting begins at 2:00 p.m. (CT) and will include Dakota, Minnesota and Montana CEOs. Terrance will discuss his vision for the company, the importance of evolving to meet members’ needs, expanding credit unions’ access to innovation and technology, and the opportunities and challenges that lie ahead. There will also be plenty of time for attendees to ask questions. Credit Union leaders should have received a special email invitation to this exclusive town hall; contact me if you need the meeting link.

DakCU welcomes new board members for orientation and league onboarding.
Last week, it was our pleasure to host two new board members, Bob Herrington, President/CEO of North Star Community Credit Union, and Jake Klobuchar, SVP of Town & Country Credit Union, to the Bismarck office for new board member orientation.

The new members spent a day learning about the association’s governance structure, bylaw review, financials, reserves, investments, Dakota Service Corporation, education and professional development, and review of the association’s strategic plan, mission and vision, as well as our member value proposition. We are very pleased and excited to add these two active credit union advocates to the DakCU Board.   

Clockwise: Bob Herrington; Jake Klobuchar; George McDonald, Karla Clark, and Jeff Olson.

Be on the lookout for credit union GSTV ads this summer!
As part of our ramped-up State Wide Awareness Program (SWAP), new Gas Station TV (GSTV) ads began running on Memorial weekend featuring fresh videos from “Try a Credit Union.” If you haven’t seen them, you can watch the short 15-second videos at the links below:
 
GSTV Ad 1
GSTV Ad 2
GSTV Ad 3
GSTV Ad 4
 

As Lindsey reported in her article last week, our credit union awareness initiative has now generated more than 18 million impressions between GSTV, geofencing ads, digital newspaper, and billboards. Speaking of billboards – you will be seeing some bright new ones on (or around) July 1 in Aberdeen, Watertown, Huron, Sioux Falls, Rapid City, Bismarck, Fargo, Grand Forks, and Minot!
 
We are very pleased and excited with the direction the campaign is headed, and we expect even more increased visibility and connections while we continue to build trust and familiarity within our contributing SWAP communities as to what a credit union is, and what we can do for our members, both current and future. We are aiming for 40% of the population throughout the Dakotas to be credit union members by the year 2030, and with your continued support, I have no doubt we will achieve that goal! If you have any questions about our SWAP program, don’t hesitate to contact Lindsey Hefta.
 
Last call for ND GAC’s Golf Scramble!
In an effort to bolster our DakCU PAC fund heading into the general election in November, the North Dakota Governmental Affairs committees are each sponsoring a golf scrambles this summer. Please support our Political Action Committees in both states by joining one of our upcoming golf outings. First up – the North Dakota GAC is holding their PAC Golf Scramble on Thursday, June 20, at Memorial Park Country Club in Lamoure, ND. Registration opens at 9:30 a.m. CT with a shotgun start at 10:00 a.m. Find additional information and register here; contact John Alexander with any questions.

The South Dakota GAC is also planning a “Par for the PAC” event on Thursday, July 18, at Lead Country Club beginning at noon, MT. Additional information and registration available here; contact Chesney Garnos with questions about this event. I hope to see many of you on the course at either (or both) of these advocacy events!

​Have a great week,

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DakCU President/CEO