CUAD Leadership Town Hall Recap
by CUAD Communications

The Credit Union Association of the Dakotas held a Dakota-wide Virtual Town Hall yesterday morning. With more than 50 Dakota credit union professionals tuned in, CUAD staff proceeded to bring the credit union leaders up to date with current association activities and events.

Jeff Olson, CUAD President/CEO kicked off the virtual meeting by announcing that plans for the 2020 Summit are still moving forward at this time. Olson emphasized that a survey is being sent to all credit union CEOs/Managers to determine how the association should proceed, and to get a feel for the preference of an in-person or a virtual Summit.

In an exciting announcement made by Floyd Rummel III, CEO of Northern Hills FCU (Sturgis, SD) and Alloya Corporate FCU Board Chairperson, it was revealed that thanks to a generous gift from Alloya, CUAD is also launching the Alloya Reconnect Summit Scholarships.

“Alloya understands that credit unions are struggling right now due to the pandemic, and made the decision to give back to leagues and associations, money to be used for scholarships to reconnect,” Rummel explained.

Small credit unions under $35 million in assets are eligible to receive one full registration for the 2020 CUAD Summit scheduled for October 5-7 in Sioux Falls, South Dakota! Be sure to check out the related story in today’s Memo for full scholarship details!

In other announcements:

COVID Survey – CUAD has received very good participation in sharing stories about what credit unions have been doing to help their members and their communities during the COVID crisis. Dakota’s credit unions are doing some amazing things, as shared in an extensive Memo story on Monday. Remember, the more info we can aggregate, the more accurately we can promote the credit union difference. If you have not completed the survey or have updated information, be sure to contact Jeff Olson.

GAC Field of Membership Survey – The North Dakota GAC is seeking your feedback to determine how the association will move forward in getting parity in North Dakota regarding Field of Membership rules. If you are a North Dakota CEO/Manager, kindly return the completed the survey, or contact Jay Kruse if you have any questions. Your responses will determine our path with legislators.

Legislative Chapter Events are moving forward with our Pints & Politics events. A number of legislative candidates have indicated they welcome the opportunity to attend these meetings. We are also in the process of putting together an “Advancing Communities” video to be used at these events, so if you have photos, video, or stories to share about your credit union staff or members out in the community doing volunteer work or making contributions, be sure to contact Lori Welder. The video will also be featured on our website and shared with lawmakers and potential lawmakers.

CU Professionals Roundtable is scheduled for August 20 in Jamestown at the FCCU Administrative Building. There is still time to register!

Foundation Golf Scramble is also being held on August 21st in Jamestown. Remember, all funds raised go to support the Credit Union Foundation of the Dakotas and their efforts to raise awareness of credit unions all across the Dakotas. There is still time to sign up! If you are unable to attend the golf outing, contributions are welcome and appreciated.  

Compliance Updates – Amy Kleinschmit, CUAD’s Chief Compliance Officer, provided a regulatory landscape update. Be sure to check out Amy’s Compliance Update on Friday for detailed information on dealing with deceased members’ stimulus checks. Also, ongoing fraud issues continue to plague credit unions during the pandemic so be advised. As a reminder, the fall Hike the Hill will be a free virtual event this year. You can sign up here, and be sure to email Amy with any suggested topics or questions.

Legislative Updates – Jay Kruse, Chief Advocacy Officer provided an update on recent developments in DC including the funding proposals that have been presented by both parties regarding the next round of COVID assistance. Based on discussions with Senator Thune’s office, the next round of PPP funding would be available for businesses not included in the first round of funding. Legislation for PPP loan forgiveness is also underway, although details are still being worked out. An Action Alert is being issued to send support for the PPP forgiveness legislation to our elected representatives. For more details, see Jay’s Legislative Update in today’s Memo.

Thank you to everyone to took the time to participate in our Virtual Town Hall yesterday. 



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