The President’s Perspective

​Congratulations to Melanie Stillwell, America’s Credit Unions customized reports now available; Summit “Give Back” project launched; and much more. 

Jeff, Melanie, Karla Clark, George McDonald

I trust you had a wonderful Easter weekend with family and friends! 
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Congratulations and Thank You Melanie Stillwell! 
Teddy Roosevelt put it best, “Far and away the best prize that life offers is the chance to work hard at work worth doing.”  I can’t of a better send off than that statement for Melanie Stillwell.

As of yesterday, Melanie has officially retired as CEO of Western Cooperative Credit Union. Last week, members of our DakCU team traveled to Williston to personally congratulate her and attend her open house celebration. We will all miss Melanie, who was a longtime DakCU board member, state credit union board member, a strong league supporter, and an engaged credit union leader and advocate. We appreciate the many contributions she has made to our movement, and we sincerely appreciate her friendship and explementary years of service to the industry. Bravo! 
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America’s Credit Unions customized benchmarking reports available now.
Last week, America’s Credit Unions reached out via email to affiliated members with information to access their updated quarterly peer analysis reports. The reports are based on the most recent NCUA Call Report data and allow you to compare your metrics with peer averages. If you have any difficulties accessing the reports or if you did not receive the email, contact America’s Credit Unions via email.

Filene seeking feedback on employer-sponsored small-dollar loans.
Our friends at Filene Research Institute are conducting a research project on employer-sponsored small-dollar loans among credit unions. The study is focused on how credit unions partner with employers to provide small-dollar loans to their employees. If your credit union offers employer-sponsored small-dollar loans, or even if you do not and care to explain why, I encourage you to complete the survey. It should take less than five minutes. Here’s to cooperation amongst cooperatives!

Kudos to Levo Credit Union!
I would like to send a shout out to Fran Sommerfeld and his team at Levo Credit Union. Last week, they were featured on Keloland Living for their Operation of Hope and Caring. The credit union is helping children to meet basic needs, including clothes, food, and more. Congratulations to Jen McKeown, vice president of marketing at Levo for her part in an excellent live interview. Click here to watch. Well, done Levo!

Aspire CU’s CEO featured in Minot State Connections magazine.
We often talk about “earned media,” and when it happens, it can be great PR for both individuals and businesses. Kevin Vigested, CEO of Aspire Credit Union, was featured in the spring edition of Minot State University’s Connections alumni magazine. In the two-page spread, he talks about the “big shoes” he had to fill when he stepped into retiring CEO Mindee Kohman’s position, as well as his college basketball years at MSU, and how the credit union has become like a family to him. You can find the magazine and article here.

Credit Union Strategies for 2nd Quarter
As we begin the second quarter of 2024, interest rates remain at the highest levels in more than 15 years as the Fed waits for more evidence that inflation is on path to 2.00%. Credit unions continue to face the challenge of tightened liquidity in a high-cost environment putting continued pressure on margins. Being proactive in balance sheet management and the Investment portfolio process is paramount. 

The Baker Group is offering a complimentary webinar on Thursday, April 11, at 10:30 a.m. (CT) where they will try to bring some clarity on what is ahead and offer some guidance for credit unions going forward. Those that sign up will receive the recorded version once it is completed whether you are able to attend or not. You can register here.

Summit Give Back Project Launched
We are now just 42 days away from the Annual Summit, which takes place May 14 – 16 at Grand Falls Casino & Golf Resort just outside of Sioux Falls. Each year, we have used our event as a platform to “pay it forward” with a “Give Back” project in harmony with cooperative principle #7 – Concern for Community. This year, we have chosen to support the Sanford Children’s Miracle Network Hospital in Sioux Falls. This will be the third consecutive year that our “Give Back” effort will benefit a local CMN Hospital, each being a tremendous success!

Just as we did in for our two other CMN Hospitals in Rapid City and Fargo, we are asking each credit union in attendance to bring prepaid cash cards in $25 increments. This allows each credit union to determine their level of giving, AND your credit union’s own branding can be used on the donated cards, if desired. Anyone who wishes to make a personal contribution may also donate a gift card for this great cause. To kick things off, I will be making a personal donation of four gift cards – or $100 – to help make this a success. I hope you will join me in this worthy endeavor by making a donation! 

Stack the PAC recognition and fundraising event to kick off Summit week.  
Finally, to help kick off the 2024 Annual Summit, the South Dakota and North Dakota Governmental Affairs Committees will be hosting a combined recognition and CUPAC/CULAC fundraising event on Tuesday, May 14th at 7:30 pm at the Grand Falls Casino venue.

The event will recognize last year’s CULAC and CUPAC contributors. The evening will be highlighted with a 2024 federal election outlook presentation from Trey Hawkins, Deputy Chief Advocacy Officer for Political Action America’s Credit Unions.

Everyone who contributed, either through our payroll deduction or direct contributions, or participated in our sweepstakes promotion at the CU Advocate level ($24 a year) will be invited to the event. Anyone wanting to attend who didn’t meet the invite criteria can simply make a donation of $24 at the door. I hope to see many of you there!

Have a wonderful week,

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DakCU President/CEO