St. Paul, MN – Gov. Mark Dayton joined several other prominent Minnesota legislators and officials in handing out some high praise for the valuable services and support that credit unions provide consumers. These were among many laudatory remarks heard at the Minnesota Credit Union Network’s (MnCUN) Credit Union Day at the Capitol event on Jan. 29 in St. Paul.
“I have special regard for those who serve their members and their needs, for those who provide savings back to their customers. I thank you for that,” said Gov. Dayton, speaking to more than 150 credit union representatives at MnCUN’s annual political advocacy event.
Credit union leaders also heard the governor’s plans for the budget and tax reform in the next biennium. Gov. Dayton stressed that his proposal for tax reform does not involve credit unions’ tax exemption, saying that credit unions provide important services, and he won’t tamper with that.
Along with tax reform, financial literacy was a hot topic at Credit Union Day. Gov. Dayton and Minnesota Department of Commerce Commissioner Mike Rothman touched on its importance. Rothman told Credit Union Day attendees he believes credit unions and the state can work together to make big strides in the financial literacy realm.
“We have a common goal – that people, from kindergarten to retirement, have the lifetime skills to attain financial stability,” Rothman said.
Credit union leaders took the financial literacy and credit union messages to the Capitol in visits with their local legislators. They touted the avenues used to help members with financial education, including in-school, student-run credit union branches with HomeTown Credit Union in Owatonna and St. Paul Federal Credit Union. Following the theme of this year’s Credit Union Day, “Minnesota Credit Unions: A Trusted Partner,” attendees talked with legislators about the reasons why more consumers are choosing credit unions, with trust being a top factor.
“Credit Union Day at the Capitol provides us the opportunity to bring our stories to elected officials and remind them how credit unions are benefitting their constituents,” said MnCUN President & CEO Mark D. Cummins. “Through this annual event, we are able to remind legislators how their decisions can affect consumers financially – outside state Capitol walls. We are able to effectively advocate for the benefits of belonging to credit unions and their mission to help their members, and all Minnesota consumers.”
Young credit union professionals also had a chance to hone their advocacy skills during Credit Union Day. Participants with MnCUN’s group The Crew – for new and mid-level credit union employees 35 and younger – learned first-hand how to advocate for credit unions and address issues in visits with elected officials. In an education session targeting the young professionals group, Crew attendees also learned about the basics of the credit union examination process from Minnesota Department of Commerce Chief Examiner Carl Schwartz and NCUA Supervisory Examiner Justin Burleson.
Additional education sessions offered during MnCUN’s Credit Union Day focused on political advocacy best practices, regulatory updates and 2013 legislative priorities. Other legislative speakers who attendees heard from included House Minority Leader Kurt Daudt (R-Crown), Speaker of the House Paul Thissen (DFL-Minneapolis) and Senate Majority Leader Tom Bakk (DFL-Cook)
The Minnesota Credit Union Network is an organization representing the state’s 134 not-for-profit cooperative credit unions serving more than 1.5 million member-owners in Minnesota. For more information, visit www.mncun.org.