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News Now

CU System
MnCUN provides commissioner insight on CU issues
ST. PAUL, Minn. (3/9/11)--Minnesota Credit Union Network (MnCUN) staff held an introductory meeting Monday with newly appointed Minnesota Department of Commerce Commissioner Mike Rothman to continue efforts to deepen government officials' knowledge of the credit union movement. Representing MnCUN were Mark Cummins, president/CEO; Mara Humphrey, vice president-governmental affairs; and John Wendland, general counsel. They provided Rothman with an overview of the current challenges and opportunities facing Minnesota's credit unions. The visit focused on continuing MnCUN's open line of communication with the regulatory agency, which experienced personnel shifts due to the election of a new governor. They discussed the importance of having a strong state credit union charter and the benefits this charter option offers to Minnesota credit unions. The group also outlined issues credit unions are monitoring at the federal level, including member business lending, supplemental capital and the Federal Reserve's proposed change to debit card interchange fees. Rothman expressed a desire to work with the movement on issues affecting the financial services industry and the state. He outlined his vision for the Department of Commerce, stating he will focus on protecting Minnesota consumers, providing business opportunities to grow, and effectively executing regulatory oversight. "Our meeting with Commissioner Rothman provided us the opportunity to discuss the various ways we can work with the Department of Commerce to advance the issues important to the agency and the credit union movement," said Cummins. "Fostering this open line of communication further develops the solid working relationship we have built with our state regulator." Rothman officially introduced himself to the movement during his keynote address at MnCUN's Credit Union Day at the Capitol last Thursday. There, he acknowledged that credit unions are critical to Minnesota's economy.


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