ST. PAUL, Minn. (11/23/09)--Minnesota Credit Union Network (MnCUN) President/CEO Mark D. Cummins made his debut as a regular industry columnist in early November, highlighting the importance of credit unions as financial cooperatives in Minnesota’s Finance & Commerce
His article, entitled “Credit unions are built to last,” was MnCUN’s first published editorial in Finance & Commerce’s
“Association Update” section. “We’ve been working really hard this year to cultivate relationships with all the major metro finance pubs,” Kristina Wright, MnCUN vice president of communications, told News Now
. “In our second get-to-know-you meeting with them, we discussed their new ‘Association Update’ column and they asked us to take part. There are a number of associations that fit with their readership--us being one of them--so they asked us to join.” The article served as a platform to educate consumers about the credit union difference, focusing on credit unions’ perseverance in today’s economy and the safety and security of members’ deposits. “Credit unions operate more conservatively with less risk. They focus on serving and educating members … not forcing loans on them just to make a quick buck,” Cummins wrote. He went on to acknowledge feelings of mistrust in the financial industry and pointed out that Minnesota credit unions’ capital levels are higher than 10%, well above regulators’ definition of well-capitalized, which is 7%. Despite the fact that credit unions are still relatively small in terms of size and market-share when compared to other industry giants, Cummins mentioned that credit unions are sophisticated financial institutions in the business of serving consumers. “In today’s unprecedented times, we all want to save some money and feel secure in our finances,” Cummins wrote. “It’s good to know that you can turn to your local credit union for safety, security and strength.” To read the column, use the link. MnCUN’s next column is slated to run Dec. 4.