Your Weekly Update from Montana's Credit Unions

YOUR WEEKLY UPDATE FROM MONTANA'S CREDIT UNIONS | February 17, 2023

Has anyone else been noticing the longer days? They make me feel like spring may in fact be around the corner even if the temperatures remain in winter territory.

Monday is Presidents' Day, so the MCU office will be closed. I hope that you all are planning to enjoy a long weekend "weather" you are skiing, hiking, or just spending some time on the couch with a good book. If there's anything that we can help you with, please let us know.

NEWS & INFO YOU CAN USE

IRA Accounts Alert: A CUNA Mutual Group RISK Alert this week notes that fraudsters are attempting to open IRAs with fraudulent large-dollar cashier’s checks. The funds are then withdrawn before the fraudulent check is returned. Make sure your operations team is aware of the details by sharing this important alert with them!

CUNA Needs your Participation: Earlier this week, CUNA sent a call to action to small credit unions — join the Small Credit Union Community. If your credit union is under $150 million in assets, consider joining this community. It helps address challenges unique to smaller credit union as well as common challenges affecting everyone. Start by signing in to your CUNA account and opting in for the Daily Digest email.

NCUA Board Meeting Recap: The NCUA Board met yesterday and issued both a proposed rule and a final rule. The proposed rule to amend the chartering and FOM rules includes nine changes to enhance consumer access to financial services, especially in low- and moderate-income communities, while reducing duplicative or unnecessary paperwork and administrative requirements.

Board members also adopted a final rule to require federally insured credit unions to notify the NCUA as soon as possible, but no later than 72 hours, after they reasonably believe that a reportable cyber incident has occurred. NCUA promised more detailed guidance prior to the September 1 effective date.

FOR YOUR DUES

Take the Lead Registration Ends February 24: Our leadership program is welcoming it's fifth class March 7-9 in Great Falls, and we want your credit union to become part of this great group of leaders! Take the Lead participants will join a group of equally motivated credit union professionals from around the state who keep in touch throughout the year by offering support, answers to questions, and access to additional leadership training for free. Check out our website to learn more about the program, the facilitators, and what others have to say about their experience.

FROM OUR PARTNERS

IT Solutions & Services: Protecting your credit union and meeting the industry’s regulatory requirements can be challenging. First Call believes finding the right IT partner takes stress off everyone in your organization. Get in touch with First Call to discuss how they can help you get the most from your technology!

Upcoming Webinars: Looking for specific trainings for your credit union’s staff and/or volunteers? CU Webinar Network offers a variety of webinars that you can sort through by either using the search tool or categories drop-down list on their website. Webinars can be purchased and used at your convenience.

WE SEE THE #CUDIFFERENCE

We ❤️😍💕😘 our Credit Unions

(It's another two-for-one week!)

The Rocky Mountain Credit Union Gallatin Valley Operations Leaders made quite the Costco haul for the Healthy Kids Pack Program in Bozeman-area schools. This program provides weekly supplemental bag of groceries that provides healthy foods to children.

Valley Credit Union recently released their 2022 community impact (click the image for a larger version). It shows a whopping 1,362.5 volunteer hours spent by their staff, along with $113,000 contributed to community nonprofits, schools, and other causes.

That's the #CUDifference!

PARTING SHOT

Do you like pineapple on your pizza?

Yes

Select

The results will be in next President's Report!

This is an internal publication of Montana's Credit Unions intended for our affiliated credit unions and their official family. For more information, call us or visit our website.