Member Login

THE MEMO

DAKOTA CREDIT UNION ASSOCIATION
  • Advocacy
    • Bill Tracking
    • Grassroots Action Center
    • Political Fundraising
  • Compliance
    • Compliance Resources
    • Compliance Solutions >
      • AffirmX
      • ComplySight
      • CU CMS
      • CU PolicyPro
      • InfoSight360
      • Jackson Lewis
      • PayLynxs
      • RecoveryPro
      • ViClarity
      • Training
    • The Memo: Compliance
  • Member Resources
    • DakCU Awards
    • Financial Well-Being for All
    • Professional Development >
      • Chapters
      • Emerging Leader Program
      • Sales CU Training
    • Strategic Partners >
      • CAP Program Directory
      • Compliance Solutions
      • Pee Wee and Friends®
    • SWAP: CU Awareness
  • News & Events
    • The Memo
    • Events Calendar
    • Annual Summit >
      • Agenda
      • Crashers
      • Presenters
      • Sponsors
    • GAC
    • Par for the PAC
    • Sales CU Training
  • About Us
    • Board of Directors
    • Contact Us
    • DakCU Foundation >
      • Donor Wall
      • Foundation Golf Scramble
      • Memorials
      • Foundation Sweepstakes
    • DakCU Health Benefits Trust

The President's Perspective

8/8/2022

 
Picture
​ND Credit Unions schedule follow up call to claim recovered Member Capital Assets; Action Alert issued on interchange; Dakota CU Foundation launches their e-bike raffle; and New Ideas registration is set to open this week. 
Happy Monday!
We are just eight days out from our fall education kick-off with the CU Professionals Forum and Large CEO Roundtable meetings in Fargo on Tuesday, August 16 in Fargo at the Delta Hotel and Conference Center. There is still time to reserve your spot!  

Attention North Dakota CUS - US Central Member Capital follow up call for ND credit unions scheduled for tomorrow morning.
For several months, the Dakota Credit Union Association has been working with credit unions and legal council on a path for North Dakota credit unions to claim their recovered U.S. Central Member Capital Assets (MCA) from the NCUA. We will have a follow up call with our counsel tomorrow morning, August 9, at 9:00 A.M. C.T. All North Dakota CEOs and managers should have received an email invite with a link to the meeting. Please reach out to me if you need that link resent. We have an approaching deadline to act by, so it is extremely important that you or someone from your credit union is on the call. The meeting will also be recorded.

Registration for New Ideas Conference 2022 is opening this Wednesday, August 10!
This year’s New Ideas Conference is set for October 3-4, 2022 at the historic Black Leg Ranch just outside Bismarck, ND. Homesteaded in 1882, the ranch has broadened traditional commercial cattle ranching into a multifunctioning, value-added agricultural enterprise that has diversified into a hunting outfit, international agri-tourism operation, wedding and events venue, craft brewery, and its most recent venture, commercial meats. Stay tuned for details to follow in Wednesday’s Memo and on our website to get in on early bird savings starting August 10, 2022.

Members turn to their credit card as household debt surpasses $16 trillion in second quarter of 2022.
Trends across the country indicate that consumers and credit union members are using their credit cards to keep pace with the rising costs of products and consumer needs. As jobless claims continue to rise, last week the Federal Reserve Bank of New York’s Center for Microeconomic Data released its Quarterly Report on Household Debt and Credit, which revealed a $312 billion increase in total household debt in just the second quarter of 2022. Credit card balances also saw an increase of $46 billion, marking a 13% cumulative increase since the second quarter of 2021. This increase represents the largest jump in more than 20 years.
The Bureau of Labor Statistics "Job Openings and Labor Turnover Survey" (JOLTS) released last Tuesday revealed that total job openings declined by 605,000 from the upwardly revised 11.3 million in May. This means nearly six million people were counted as unemployed in June, which means there are an estimated 1.9 openings per every available worker. This will most certainly will add to the inflationary concerns for all consumers and credit union members.

Senate Interchange Bill Will Actually Harm Consumers - Action Alert issued – please weigh in!
As the cost to purchase household goods and services continues to rise and have a negative impact on Americans, more credit union members are using their credit cards to make ends meet. Yet, members of congress launch Credit Card Interchange that will hurt consumers.
The bill represents a massive financial windfall for big box retailers who could choose to use the most inexpensive credit card routing network, regardless of how much, or little, the vendor invests in data security. How this will hurt credit union members and Americans:
  • Consumers by limiting their credit card choices and increasing prices and cybersecurity risks.
  • Small businesses by increasing the cost they pay for payment processing services that are lower quality. The effects on the credit card market will also reduce access to available credit.
  • Community financial institutions through higher costs, ultimately leading to fewer card programs.  
CUNA and the Leagues have issued an official Action Alert to oppose the proposed changes to the interchange system. We strongly oppose this legislation, as it would bring further financial benefits to big box retailers at the expense of consumers. I encourage you to send a message to your elected representatives today through the Grassroots Action Center. You can also find valuable talking points here, and please pass this Action Alert along to your colleagues and staff. If you have any questions about this issue, please contact me or Jay Kruse, DakCU’s Chief Advocacy Officer.
 
E-bike raffle launching today!
As I hinted in my President’s Perspective a few weeks ago, the Dakota Credit Union Foundation is moving ahead with an extremely exciting raffle fundraiser! A limited number (250 total) of tickets will be sold at $50 each (limit of 5 per person or organization) for a chance to win a pair of top-rated Ride1UP e-bikes! That’s a prize worth $3,390! Ticket sales are officially open today. We don’t expect the tickets to last long – so do not wait too long to secure yours! A live grand prize drawing will take place at the close of our New Ideas Conference, October 3 – 4 in Bismarck. Good luck and happy trails!
 
SWAP messaging succeeding beyond our expectations!
In case you have been wondering where your State-wide Awareness Program (SWAP) contribution has been going, I hope you have been paying attention to the print and digital ads we have been running, along with static and digital billboards in multiple locations, and of course, our GSTV (Gas Station TV) ads that started in June and will run through August. We recently received our June numbers from GSTV, and I am incredibly pleased to share that the GSTV ads have been delivered to more than 666,600 consumers at Dakota gas stations. These ads all direct consumers to yourmoneyfurther.com to find a credit union they can join, so be sure your credit union’s information is updated. Contact Lindsey Hefta for assistance or with any questions regarding the SWAP program.
 
Emerging credit union leaders recognized! Congratulations to these Bismarck area young credit union professionals!
Many credit unions across the Dakota have placed a strategic emphasis on cultivating young talent and developing new intentional leaders for the movement. I am pleased to share that several of our emerging credit union leaders were recently recognized as outstanding local leaders under the age of 40 in the Bismarck-Mandan Chamber of Commerce special edition publication that highlights area businesses and talent. What’s more impressive is that four young credit union professionals from the Bismarck-Mandan area were named in the August issue of the Chamber Connection! Well done, and congratulations to: Travis Dengel, Railway CU; Zachary Dosch, First Community CU; Jillian Lagasse, Capital CU, and Katie Nehl, First Community CU.  
Picture
DakCU President/CEO 

Comments are closed.

    The Memo

    The Memo is DakCU's newsletter that keeps
    ​credit union professionals updated on current news and information. ​

    Memo Home

    Want the Memo delivered straight to your inbox?
    Sign Up Now


    Archives

    May 2025
    April 2025
    March 2025
    February 2025
    January 2025
    December 2024
    November 2024
    October 2024
    September 2024
    August 2024
    July 2024
    June 2024
    May 2024
    April 2024
    March 2024
    February 2024
    January 2024
    December 2023
    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021


    Categories

    All
    Action Alert
    Advocacy
    Awards
    Awareness Campaign
    Compliance
    CUPAC/CULAC
    Dakota CUs Give Back
    Events
    Financial Well Being
    Foundation
    Fraud Alert
    Grants
    In The Spotlight
    Marketing Tips
    Member Solutions
    Miscellaneous
    ND Legislative Update
    News And Notes
    President's Perspective
    Press Releases
    SD Legislative Update
    Webinars

Copyright Dakota Credit Union Association.  All Rights Reserved.
2005 N Kavaney Dr - Suite 201 | Bismarck, North Dakota 58501
Phone: 
800-279-6328 | [email protected] | sitemap | privacy policy
Picture
Picture
Picture
Picture
  • Advocacy
    • Bill Tracking
    • Grassroots Action Center
    • Political Fundraising
  • Compliance
    • Compliance Resources
    • Compliance Solutions >
      • AffirmX
      • ComplySight
      • CU CMS
      • CU PolicyPro
      • InfoSight360
      • Jackson Lewis
      • PayLynxs
      • RecoveryPro
      • ViClarity
      • Training
    • The Memo: Compliance
  • Member Resources
    • DakCU Awards
    • Financial Well-Being for All
    • Professional Development >
      • Chapters
      • Emerging Leader Program
      • Sales CU Training
    • Strategic Partners >
      • CAP Program Directory
      • Compliance Solutions
      • Pee Wee and Friends®
    • SWAP: CU Awareness
  • News & Events
    • The Memo
    • Events Calendar
    • Annual Summit >
      • Agenda
      • Crashers
      • Presenters
      • Sponsors
    • GAC
    • Par for the PAC
    • Sales CU Training
  • About Us
    • Board of Directors
    • Contact Us
    • DakCU Foundation >
      • Donor Wall
      • Foundation Golf Scramble
      • Memorials
      • Foundation Sweepstakes
    • DakCU Health Benefits Trust