The President's Perspective
by Jeff Olson
President/CEO
11/16/2020

Greetings and Happy Monday!

As many of you know, North Dakota Governor Burgum issued new executive orders and COVID protective guidance standards last week, mostly on mask wearing and limits on public spaces and crowd gatherings in the state. Since many of you have been navigating through this crisis for months, we are anticipating that it won’t have much of an impact on credit union business and serving our members. There have been positive developments on a prospective vaccine, so if we can plow through this for a few more weeks, it appears that there is light at the end of the tunnel.

GAC Raffle nears the “7th Inning Stretch” – time to push for last minute sales.

One of the charges of our North and South Dakota Governmental Affairs Committees (GAC) is to raise money and awareness for our CUPAC/CULAC funds. We are now in the final stretch of our 12th Holiday Raffle fundraiser. The annual raffle is sponsored by the GACs, coordinated by our league advocacy team, and ultimately supports credit union friendly candidates in the Dakotas. It helps us to meet and exceed our national and local political action fundraising goals for the year.

The last day to sell tickets is Tuesday, December 1. Participating credit unions should be making plans to wrap up ticket sales soon!

Your credit union can help by selling remaining tickets to staff, volunteers, and to your members who are eligible to participate. Several of our member credit unions are also helping by sponsoring our prize contributions again this year; however, as of last week, we are still a little short. If your credit union can help with a cash donation, please contact Jay Kruse as soon as possible.

Remember, all contributions are strictly voluntary. Anyone has the right to refuse to contribute without any reprisal. Contributions are not deductible for federal income tax purposes. In accordance with federal law, CUPAC/CULAC is required to record the name and address of individuals that contribute $50 or more.

Monies from the ticket sales along with your ticket stubs and reports must be sent to the association no later than Friday, December 4. The drawing for $5,000 in prizes will take place on Thursday, December 10 at 3:00 p.m. (CT). The winners will be posted on our website.

World Council of Credit Unions hosting COVID-19 Response Webinar.

Credit unions are invited to tune into the World Council of Credit Unions’ COVID-19 Response Webinar on November 24 to learn more about the economic impacts of the pandemic on credit unions. CUNA’s Chief Economist Mike Schenk will join credit union leaders from Costa Rica, Trinidad and Tobago, and the United Kingdom to share how credit unions have dealt with the global pandemic. There is no cost for affiliated members, but you do need to register in advance.

360 Degree Advocacy update.

As some states work to finish up their elections, there are some still undecided, and we’re analyzing the post-election results and the potential impact on the financial service industry. CUNA’s overall analysis of the election and what it means for credit unions going into the 117th Congress is available here

Also, NCUA Chairman Rodney Hood testified before the Senate Banking Committee and the House Financial Services Committee on the regulator's responses to the pandemic. During the hearing with Chairman Hood, the House Financial Services Committee discussed two CUNA-supported bills: one to exempt credit union pandemic MBLs from the cap for one year; and the other to prevent regulatory penalties for PPP lenders.

Have a great week, and please be safe!

Jeff

 

 

 

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