The President's Perspective

​DakCU supporting SB2266 for ND state-chartered credit unions FOM modernization. Plus, it’s not too late to join us for MonDak in Las Vegas! 

Greetings and happy Tuesday!
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One former Speaker of the House used to say the legislative process goes very slow until it goes very fast. While that statement is suited more to Congress, it certainly has been the story in Bismarck and Pierre. The North Dakota legislative session is starting to ramp up after a slow start. As of last week, there were 638 bills introduced along with 14 Resolutions in both chambers. In just the first week in Pierre there have been 136 bills and 4 Resolutions  introduced so far. We are already engaged and tracking several bills in both states.  

Out first Dakota CEO Virtual Town Hall is scheduled for this afternoon at 3:00 p.m. CT (2:00 p.m. MT). We’ll share some updates on legislative activities in both state capitals and provide timely information on upcoming DakCU events.

North Dakota FOM Modernization and Expansion Bill introduced in the ND Senate.
We like to say that North Dakota is open for business, and that’s mostly true – except for North Dakota’s Credit Unions.

Today, North Dakota’s 19 state-chartered credit unions operate under one of the strictest Field of Membership (FOM) statutes in the nation, particularly in comparison to how federally chartered credit unions can operate. Since credit unions can only serve consumers who live in the field membership, many North Dakotans are being left behind or have limited options for financial services. 

Late last week, Senator Robert Erbele (Lehr, ND) introduced SB 2266. As written, SB 2266 would give North Dakota credit unions parity with federally chartered credit unions in many areas, such as allowing an individual to join a credit union if they work or attend school in the state. Additionally, we are looking to expand our FOM radius for our more rural credit unions to expand and diversify their FOM and to help maintain safety and soundness. Also supporting the bill as co-sponsors are Sen. Doug Larson (Mandan), Rep. Mike Brandenberg (Edgeley), and Rep. Pat Hatlestad (Williston).

Here is a video message that North Dakota credit unions are sending to their members in the State Senate this week that highlights the need for FOM expansion for state charter credit unions.

We are hosting a call for ND credit union leaders tomorrow, January 18 at 3: 00 p.m. (CT) when we will share our legislative strategy and engage credit unions in our efforts to get this bill passed through committee and the Senate. ND CEOs should have an email invite in their inboxes; be sure to contact me if you need that link.

It’s Not Too Late to Attend the MonDak CEO/Volunteer Roundtable in Las Vegas.
There is still time to make plans to attend our annual MonDak leadership Roundtable conference scheduled for February 7 – 8 at the Flamingo Hotel and Convention Center in Las Vegas, NV.  Who doesn’t want to have a short reprieve from the Dakota winter in early February? But more importantly, we have a terrific leadership event planned. Preconference sessions will feature Celeste Cook discussing future trends for credit unions and how to stay relevant and grow. For board leaders, David Reed will focus on effective board meetings. Our joint sessions on day two will focus lending and growth opportunities, economic outlook, credit union advocacy priorities for 118th Congress, and roundtable hot topic discussions. 

You can register and learn more about the 2023 MonDak on our web site events page.

MEMO now being Published Tuesdays and Thursday
As a reminder, the Memo e-newsletter will now appear in your in-box two days a week: Tuesdays and Thursdays. We hope you enjoy the new design – and rest assured, you will be receiving the same great content each week – just consolidated to reduce the number of communications you receive from us each week. As always, your stories on what you are doing at your credit union to positively affect your communities are welcome and appreciated, so please continue to share your news with Shawn Brummer, our communications specialist.  

Small Credit Union GAC Scholarship Opportunity
Don’t forget, there is a scholarship contest for the CUNA Small Credit Union Community and there is still time to enter if you act by January 20. Two winners will be randomly selected; simply record a video of yourself, or another member of your staff, describing a time when your credit union helped a member in a significant and meaningful way. (Full contest rules here). Upload your video to a Discussion post in the Small CU Community. All entries will be compiled for a random drawing on January 23. If you are interested and need assistance, Tom Sakash,  CUNA’s manager of small credit union initiatives, is also happy to assist with any questions or with recording and uploading your video.

GAC Crashers Announced
From the largest pool of GAC Crasher applicants in the entire history of the program, two Dakota credit union young professionals have been selected by Filene’s Cooperative Trust to attend the biggest CU advocacy event of the year in Washington, DC. Congratulations to Drew Gertsch, VP of Risk Management from Northern Hills FCU, Sturgis, SD; and Nanci Wilson, Marketing & Community Engagement Director from University FCU, Grand Forks, ND.

These two will be attending exclusive Crasher activities, enhanced with new learning panels focused on leadership development, credit union history, community partnerships, engagement, and key advocacy topics. They will also be joining our group of Dakota credit union advocates as we visit Dakotas’ legislative delegation on Capitol Hill. Congratulations, and we will see you in DC! 

Welcome Holly Steier to the Dakota Credit Union Foundation Board
Finally, I would like to send a “shout out” to Holly Steier, Marketing Representative at Western Cooperative Credit Union, for stepping up as the newest board member of the Dakota Credit Union Foundation. Holly’s application was approved by the Foundation board in December, and she begins her three-year term this month. Her extensive marketing background as well as her years of volunteer experience make her a valuable asset to our charitable foundation. We appreciate her volunteering her talents to help us in our mission to promote financial well-being for all! Thank you, Holly, and on behalf of the Foundation Board, we look forward to working with you.

Have a great week,

DakCU President/CEO