The President's Perspective

​Jeff has just returned from an event with Senator Hoeven and Governor Burgum, where he had the opportunity to thank them for supporting Dakotas’ credit unions! 

Greetings and Happy Monday!

Our 360-degree credit union advocacy is certainly in full effect, and we hit the ground sprinting following the CUNA Governmental Affairs Conference earlier this month. There was meaningful movement on federal credit union bills as well as significant updates for state-chartered credit unions here in North Dakota last week.

First, here in the Dakotas, the Department of Financial Institutions and the State Credit Union Board worked with DakCU advocates and the North Dakota Government Affairs Committee last fall in recommending updates and modernized language to the credit union administrative codes for state-charted credit unions. These updated operational rules were unanimously passed by the North Dakota Interim Legislative Rules Committee and will go into effect on April 1st, 2022. We were successful in obtaining several operating benefits that are important to state-charted credit unions in North Dakota; this is a direct result of our positive relationship with the North Dakota DFI and the effective coordination and diligent work of our League’s GAC Committee. You can view the committee hearing and get a complete breakdown of the Administrative Rules updates  here. The DFI testimony begins at the 1:03:25 mark.

On the Federal level, the House Financial Services Committee introduced a major field of membership (FOM) modernization bill that would allow credit unions to take huge steps in fighting financial inequities.

Also, the Credit Union Governance Modernization Act was attached to the omnibus bill passed by Congress last week, which President Biden signed into law last Friday evening. This bipartisan bill allows credit unions to better manage branch safety and was the result of our strong CUNA-League collaboration efforts.
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Lastly, I had the opportunity to attend a private event with ND Senator Hoeven and ND Governor Burgum  over the weekend (photo right). Given the current challenges that our country and state face, both had several comments on how our state and region can help get our country back to being energy independent and help curb rising inflation. I also had the opportunity to personally thank both of them for their support of our ag lending credit unions.  
 
DakCU marketing and social media resources can help credit unions fill vacancies.
From an idea that originated directly from our strategic session and CEO Dialogue in February, DakCU staff has developed a turn-key customizable resource to assist Dakota credit unions in filling job vacancies.  

Lindsey Hefta, our Director of Marketing has created a variety of graphics that affiliated members can use in job posting ads, social media posts, or anywhere you want to publish and find qualified applicants.  These graphics allow members to easily add your own logo or other messaging. If you need additional graphic design assistance, such as resizing or reformatting any of these canned designs, Please contact Lindsey at lhefta@dakcu.org or 701.250.3968
 
Supporting Ukraine’s credit unions.
We are all aware of the very serious and dire situation that citizens of Ukraine are facing. During the CUNA GAC, we were able to arrange a virtual visit from Oksana Markorova, Ambassador of Ukraine to the US. Late last week she sent a thank you note to Jim Nussle and CUNA along with a request for continued leadership, financial and humanitarian support.  
 
Leagues and credit unions around the U.S. are supporting credit unions in the Ukraine during this horrific time. The Ukrainian Credit Union Displacement Fund will directly support and help mitigate both short and long-term impacts to Ukraine's credit union system and those that look to it for support, including employees and members. The Worldwide Foundation for Credit Unions (WFCU) in partnership with the World Council (WOCCU), is leveraging their global network to identify the immediate priority areas where funding can be used to support displaced credit union members and staff. If you would like to help, click here to make a donation. 
 
Congratulations to Jeremiah Kossen
I want to offer our congratulations and best wishes to Jeremiah Kossen who has accepted the position of president/CEO of the $1.3 billion Publix Employees Federal Credit Union in Lakeland, Florida. For the past three years, Jeremiah served as the CEO of Town & Country CU (Minot, ND) and has been a strong local and national credit union advocate during his time in the Dakotas. He begins his new position today, March 14. On behalf of the association, I would like to wish him well in his future endeavors.
 
Christopher Morris to lead Summit Crashers
Last week, we announced that Christopher Morris, Midwest Engagement Consultant at CUNA, will be leading our group as Crasher Facilitator and Mentor during the Annual Summit. Many of you already know Christopher and what he brings to the table for our event. I strongly encourage you to consider having one (or more) of your emerging leaders apply for one of these spots. Each Crasher will receive free conference registration, not to mention a glimpse into the larger credit union world! Click here for more information and the application survey.
 
$ave with Summit Early Bird Registration
Speaking of the Summit – don’t forget, you can register for just $349 if you act by March 25th - a savings of $30 per attendee! Starting March 26th, the price will be $379 – so if you know you will be attending our signature event, we strongly encourage you to register now. I am truly looking forward to seeing many of you at the Holiday Inn Rushmore Plaza in Rapid City, SD on May 10 – 11 as we unite to gain insights on all things credit union!
 
Dedicating time for strategic planning is critical for your credit union’s future.
Your association is always seeking new ways and relationships with service providers to help our Dakota credit unions to remain successful in an ever-changing business environment. If you are looking for assistance with strategic planning, be sure to check out Amy Kleinschmit’s article from last Friday here. Also, don’t forget about our relationship with Jim Kasch and Canidae Consulting as a resource for your strategic planning efforts. Finally, today’s Memo  has a great article about succession planning - something all leaders should be thinking about for the future success of their credit unions. Contact George McDonald for assistance.
 
We appreciate all that you do to improve the financial well-being of your members.
Have a great week!

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DakCU President/CEO