WEEKLY UPDATE FROM MONTANA'S CREDIT UNIONS | February 7, 2025

Happy Friday! We hope everyone is staying warm out there. We need the moisture, right? If you're having trouble looking beyond this lingering winter storm, you should note that Valentine's Day is next Friday. Weather (get it?) you're celebrating with a partner, your family, or your friends, here are a few money-saving tips (because who doesn't like saving money):


  • Create personalized gifts like a scrapbook, a photo album, or homemade treats
  • Instead of dining out, prepare a romantic dinner at home
  • Look for sales, discounts, or coupons for gifts and dining
  • Decide on a budget beforehand and stick to it

NEWS YOU CAN USE

ServeMontana Awards: We've partnered with The Governor's Office of Community Service once again for the annual ServeMontana awards. These awards highlight those in our community who exemplify the cooperative principle of "concern for community." There are categories for individuals and groups, so you'll find the perfect award for the outstanding community member you're already thinking of recognizing.

America’s Credit Unions: Registration is now open for many of America’s Credit Unions' 2025 events! These industry-specific events are the ultimate destination for credit union leaders to enhance their skills, expand their knowledge, and network with industry experts. Secure your spot today!

Montana Cooperative Academy: Credit union employees and volunteer board members are invited to the inaugural Montana Cooperative Academy hosted by the Montana Council of Cooperatives on May 12-14 at Great Falls College. Learn from other co-ops across all sectors, get creative, and problem-solve with cooperatives from across Montana. You will see a couple of familiar faces, too! MCU President/CEO Gerry Singleton and Clearwater Credit Union CFO John DeGroot are on the list of trainers. There are only 50 spots available, so register early!

FOR YOUR DUES

Channel Your Cheetah Retreat: Registration for the MCU Women's Community Conference is now open! Join us for an inspiring event dedicated to empowering women and fostering professional connections. Learn more about the event and register today at Channel Your Cheetah Retreat on March 18-19 in Fairmont. For more information, contact Karen.

Collaboration in Wellness 2025

Collaboration in Wellness Conference: Join the MCUL Group Benefit Trust and its valued partners for the 3rd Annual Collaboration in Wellness Conference on May 20 at Fairmont Hot Springs. As credit union leaders who know the value of healthy employees, this conference is for you! You’ll hear the Trust’s valued partners discuss wins (cost savings, better health) and discuss missed opportunities for healthier employees. Here's what previous attendees had to say:


  • "I wish I could have all my staff attend. We relay the information but receiving it first-hand was more beneficial."
  • "Our health insurance trust is so much more than just medical insurance. We have a dedicated team trying to take care of our 'whole' lives and not just treat symptoms and give us a pill to take."

Advocacy Update


CFPB Director Rohit Chopra's End of Term: CFPB Director Rohit Chopra addressed President Trump in a letter on X this week regarding the end of his term. Treasury Secretary Scott Bessent has been tapped as acting director until Trump’s nominee is confirmed by the Senate. Read more in a media release from America's Credit Unions.


Update on Treasury Payments System Access and New Resources: We are aware of the Department of Government Efficiency’s recent access to the U.S. Treasury Fiscal Service’s payments system and the concerns this has raised among our members. At this time, there is no indication that personal or financial information has been compromised. The Treasury Department has confirmed that access was "read-only" for individuals with the appropriate security clearances, and no changes have been made to the system. Payments, including those related to Social Security, Medicare, and Medicaid, remain unaffected. A judge has temporarily limited access to the payments system, prohibiting the two employees with access from sharing any data outside the agency. For further details, see the Wall Street Journal article. Additionally, America’s Credit Unions has launched a new Executive Order tracker (you'll need to log in to view), which will be regularly updated as issues evolve or new orders are released.


Advocacy Update Webinar: Don’t miss America’s Credit Unions' upcoming webinar on the latest policy impacts from DC — a must-attend event for anyone looking to stay ahead in the industry. Register now to secure your spot and gain valuable insights.

Online Learning Opportunities: Exciting learning opportunities are headed your way. The best part? You can enjoy them from the comfort of your office — no need to brave the snow and cold! Visit our website to explore our partners and the distance learning programs they provide. While you're online, check out our education calendar for even more upcoming virtual training. Here are a few of the upcoming virtual events:


What We're Reading, Watching, and Listening To


Economic Update: The latest economic update from America's Credit Unions will help you discover key trends, insights, and a breakdown of their 2025 forecast.


Getting Pumped for the Big Game: Whether you're rooting for the Eagles, the Chiefs, or just in it for the commercials, we know how you and 120 million other people will spend your Sunday evening. This list of the ten best Super Bowl commercials is sure to get you into the gameday spirit.

This Week's Blogs


A Direct Line: This week, our friend Jeff Rendel provided a fun and insightful guest blog. Be sure to share it with others at your credit union.


Personal Finance Blog: According to an article from Investopedia, "45% of partners argue about money at least occasionally and 25% of couples identify money as their greatest relationship challenge." That's almost half of your members! This week's blog is the first in a four-part series to help address and overcome common money arguments in a marriage.

FROM OUR PARTNERS

Money Mules & Their Schemes: Fraudsters recruit money mules to assist in laundering money obtained through illicit activities. In many cases, fraudsters recruit money mules with bogus job offerings through online job ads or social media with promises to earn easy money for minimal work. Register to join TruStage Risk Consultants Becky Garton and Ken Otsuka at noon on February 19 as they address how money mules are being recruited in account takeover schemes and fraudulent deposit schemes at a record pace. They’ll also share proactive steps to help you detect suspicious transaction patterns indicative of money mule activity and mitigation steps to fend off money mules.

PARTING SHOT

The Roundtable: We had our Roundtable (formerly MonDak) event in Las Vegas this week with record attendance from Montana (33 participants) and the event itself (over 150 participants). Last year, we invited Minnesota to join us, and this year they sent several more participants, and we also had credit unions from Wyoming and Wisconsin participate.


What I love about this meeting is the connections we make across these five states that share similar values and makeup. Seeing credit unions share their ideas and best practices — as well as ask questions of their peers — is a cornerstone principle of this event. Our thought leaders and facilitators brought their “A-Game” to the event, both challenging and inspiring us. Mara Humphrey, President/CEO of the Minnesota Union Network shared that from Advocacy to AI, this event has it all! TruStage, the platinum partner for the Roundtable hosted a Fintech Connect event, where we heard from several fintechs and how they can help us across a spectrum of needs. Here's what I specifically enjoyed about these fintechs:


  • They are relevant to the mission of credit unions
  • They are scalable to all-size credit unions


For the last several weeks, I have focused on our strategy at Montana’s Credit Unions across our three pillars. I saw all three of them play out this week at the Roundtable —advocacy, collaboration, and education/partnerships. Advocacy was a top topic this year given all of the dynamics going on in DC and our states. Collaboration happened all around us as credit union leaders and volunteers shared their ideas and asked questions of one another. I challenged both groups to get “curious,” and consider how they can take these ideas back to the credit unions. Finally, education and partnerships were prominent throughout the event as thought leaders talked about issues (and solutions) for the “here and now,” as well as for the future to make sure we continue to thrive and be relevant in our communities. Our partners participated in the meeting alongside us, sharing


Connecting with friends and colleagues — old and new — is one of my favorite parts of the Roundtable. We truly are a family in the credit union movement. I’ve long shared that when we have a common purpose, shared values, and high trust, we can tackle any challenge that comes our way. Events like the Roundtable are a way to build on these three principles.


Enjoy your weekend. 


Cooperatively, Gerry


p.s. While we enjoyed time in sunny and warm Las Vegas, many of our Montana communities got hammered with cold and snow this week. A special shout out to our families (especially my wife and youngest son) who shoveled lots of snow! 😊

This is an internal publication of Montana's Credit Unions intended for our affiliated credit unions and their official family.


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