Welcome to fall! We are kicking off National Co-op Month in style with the opening of our New Ideas Conference this Monday-Wednesday in historic Deadwood, SD. It’s an exciting and busy month for credit unions as we are also gearing up to celebrate International Credit Union Day (ICU Day) on Thursday, October 21st.
Greetings from Deadwood!
We’re all set to welcome nearly 60 Dakota credit union and industry professionals to the historic old west community of Deadwood for the New Ideas Conference, which opens later today and runs through Wednesday. The setting couldn’t be more splendid with the glorious October skies set to splash over the Black Hills this week.
What a great way to kick off National Co-op Month! The DakCU New Ideas Conference is an energetic, fun-filled credit union educational experience that is held each fall at smaller, unique venues, which provides attendees a more intimate and causal setting for credit union learning and engagement. I am looking forward to a great week with our Dakota credit union leaders.
National Co-op Month
As I mentioned, October is National Co-op Month, which has been celebrated annually in October across the United States for more than half a century. The celebration of National Co-op month came out of the Midwest; in fact, Minnesota was the first state to declare an official Co-op Month proclamation in 1948. It is a time for cooperative businesses such as ours to reflect on our shared principles and to educate others about the value of belonging to a cooperative. In the U.S. there are more than 40,000 cooperatives of all types, supporting jobs and providing more than $25 billion to local economies. It is estimated that there are 350 million cooperative members in America!
Are you ready to Celebrate International Credit Union Day?
Each year, International Credit Union Day (ICU Day) is sponsored by the Credit Union National Association and World Council of Credit Unions. It has been celebrated on the third Thursday of October since 1948! This year’s ICU Day focuses on looking forward with the theme of “Building financial health for a brighter tomorrow,” which falls right in line with our system-wide mission of financial well-being for all! Your association has resources available to help you plan your celebration, click here for more information.
ND DFI Commissioner Weighs in on Recording Exit Interviews with Examiners
Earlier this month, our association hosted a virtual Hike the Hill meeting with National Credit Union Administration (NCUA) Vice Chairman Hauptman which was recapped in a Memo article on Friday, September 17. As part of the discussion and noted in the recap, NCUA Vice Chairman Hauptman stated his opinion on the recording of exam exit meetings. Please note that the NCUA Vice Chairman’s comments related only to NCUA exams.
The North Dakota Department of Financial Institutions Commissioner Lise Kruse wanted to comment on the Department’s position on the topic and provided the following statement in response to the Vice Chairman’s comments: “The Department has been made aware that a NCUA Board member is recommending that credit unions record the exit meeting with examiners. Recording any discussion with examiners is prohibited by the Department. The purpose of the exit meeting is to allow for board members to have a dialogue with examiners to ensure we understand your position, and to give you an opportunity to ask questions in a confidential and private setting. We want to foster an environment where the discussion is not inhibited in any way – the conversation can easily be stifled and less questions will be asked if board members know they are recorded. The examination record is the written report you receive after the examination. Comments in this report have been thoroughly vetted and reflect the department’s final position. We strive to have a transparent process, and to solicit feedback on the examination, the Department gives credit union management an opportunity to respond to an anonymous survey addressing the exam experience. We take these responses seriously, and we also welcome any feedback directly from you if there are concerns.”
Please feel free to contact me or ND DFI Commissioner Kruse if you have any questions.
Small CU Webinars Start Tomorrow!
Following the success of the CUNA/League System Small CU Webinar Series that concluded earlier this year, CUNA Mutual Group and LSC are sponsoring a second weekly series that starts tomorrow, Oct. 5 – and runs through Nov. 9, 2021. Each webinar starts at 2:00 p.m. and lasts for approximately one hour, with topics ranging from marketing, branding, sales, and service, and more. You can sign up for these free educational opportunities here.
DakCU Town Hall Scheduled for October 26
Throughout the last 18 months, we have utilized our virtual platforms to stay engaged and connected with our credit union leaders. In continuing with that platform, we have scheduled two CEO town halls for the 4th quarter, which we are calling “Town Hall Tuesdays.” The first Virtual CEO Town Hall is scheduled for October 26, at 3:00 p.m. (CT). The Dakota Credit Union Association team will be providing brief comments and updates on a proposed bylaw revision, on current regulatory and compliance issues, the Holiday Raffle, the new iLead@11 leadership development program, and the CU Awareness Campaign. Credit union CEOs should already have an email invite in their inboxes.
Our “One Stop GAC Shop” Now Open
As promised, our “one stop” for all things GAC is now open! Click here for GAC registration, accommodations, and the Roger Heacock Scholarship application which can assist with the cost of attending the GAC. Additional information regarding Crasher opportunities and congressional meetings will be added as it becomes available.
Be Recognized for Your Achievements
Last week, we announced that nominations are now open for our DakCU Awards. I encourage you to consider those individuals at your credit union (volunteers and staff) who deserve recognition. There are also several awards for credit unions that are making a difference in their communities through philanthropic and financial well-being programs. Be sure to visit our newly revamped DakCU Awards page for more information and nomination forms.
Dakotas’ Newest CU Rock Star!
Each year, the Credit Union National Association’s Credit Union Magazine and Fiserv recognize outstanding credit union professionals across the country for their exceptional creativity, innovation, and passion in the credit union movement. This year Steve Schmitz, CEO of First Community CU (Jamestown, ND) was one of 31 amazing credit union leaders representing 23 states and two countries that earned the CU Rock Star Status. Congratulations Steve – and thanks for continually promoting the credit union difference and making our movement better and much more interesting. Be sure to check out the full article in your print copy of October’s CU Magazine or you can access the digital version here.
Have a great week!
Dakota Credit Union Association
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