Let’s be honest, small, community-based credit unions are the life blood our movement. They serve a unique purpose in their communities and to their members. Across the Dakotas, small credit unions continually make a difference in the lives of their members, improving their financial health and well-being. Truly, our movement’s success remains tied to the success of our small credit unions. That is one of the key takeaways from a report issued last week by the Credit Union National Association’s (CUNA) Small Credit Union Committee.
The definition, or criteria, of what is considered a small credit union today has certainly fluctuated since the Small Credit Union Committee began to meet and work on the challenges and opportunities 20 years ago. Today a small credit union is less than $100 million in assets.
The comprehensive white paper released last week is a snapshot of the current state of the country’s small credit unions. The report is designed to empower small credit unions to better serve the needs of consumers and advance their respective communities. The report also examines how cross-industry support can lead to greater collaboration across all asset levels and how working together can strengthen us against attacks on our tax status.
As you read the report, please note the recommendations shared are designed to benefit everyone within the credit union movement who support the work of small credit unions. CUNA and the Dakota Credit Union Association continue to work to sustain small credit unions and all those they serve. You can download the State of Small Credit Unions Whitepaper here.
Play Yellow – Help Kids!
In last week’s Memo, we announced that our own Dakota Credit Union Foundation will be hosting the first “Play Yellow for Children’s Hospitals” event ever held in North Dakota. As part of the Foundation’s annual Golf Scramble, a portion of the proceeds will be donated to our local CMN Hospitals. As you know, one of the goals of our Foundation is to increase awareness of Dakota credit unions by supporting children’s charities, and this event will certainly accomplish that. We are anticipating a great turnout, and I hope to see many of you there. Be sure to sign up by August 13th!
Forbes recognizes Two Dakota Credit Unions Among Best in the Nation!
Dakotaland Federal Credit Union (Huron, SD) and Capital Credit Union (Bismarck, ND) were recently named as the best credit unions in their respective states in a nationwide survey conducted by Forbes and the market research firm Statista. Forbes and Statista identified “America’s Best-In-State Credit Unions 2021” based on an independent survey of approximately 25,000 US consumers who were asked to rate credit unions at which they have or previously have had checking accounts. Participants made recommendations regarding overall satisfaction and also assessed credit unions in areas of trust, terms and conditions, branch services, digital services, customer service and financial advice. Congratulations to the terrific teams at Dakotaland FCU and Capital CU on this recognition! You can see the entire Forbes Story here.
Credit union "digital day" is less than three weeks away when we are going to blast our love for credit unions across all social media and digital platforms. Be sure to mark your calendars for the #ILOVEMYCREDITUNION social media blitz coming on July 30! This is a nationwide effort to increase awareness of credit unions by getting a trending hashtag on as many social media platforms as possible. If you haven’t signed up for this easy and FREE collaborative effort, I encourage you to do so here – and be sure to take advantage of the many turn-key resources available. The project is being led by the Illinois Credit Union League but feel free to contact Shawn Brummer if you have any questions.
Special Events You Don’t Want to Miss!
Don’t forget – we have added a special in-person CEO Town Hall and forum for Dakota Credit Union leaders with Jim Nussle, President/CEO, Credit Union National Association on Wednesday, August 25th in Bismarck. Jim will provide an update on important industry issues, including urgent legislative issues and pending regulatory guidance that will have an impact on your credit unions and your ability to serve your members in the coming months. There is no cost for this event, but we do ask you to register in advance so we can plan accordingly.
The event will be held at the National Energy Center of Excellence on the Bismarck State College campus and is being held in conjunction with our CU Professionals Forum on that same day and our 5th Annual Foundation Golf Scramble at Apple Creek Country Club on Thursday, August 26th.
Here is a tentative agenda for the two days in Bismarck:
Wednesday, August 25th
For your convenience, we have two options for accommodations. A block of rooms has been reserved at the Hampton Inn & Suites Bismarck Northwest - 2020 Schafer Street - Bismarck, ND. Make your reservations by August 10, 2021 to receive a special rate of $115 plus tax per room. Call 701-751-5656 and be sure to mention Dakota Credit Union Association.
We have also added a block of rooms at the Home2Suites by Hilton - 1122 West Turnpike Avenue - Bismarck, ND. Make your reservations by July 30, 2021 to receive the special rate of $119 plus tax per room. Call 701-712-3145 and mention Dakota Credit Union Association.
Just a quick reminder of other upcoming DakCU meetings and events to keep in mind as your summer and fall calendars start to fill up!
Dakota Credit Union Association
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