ST. PAUL, Minn. (5/2/14)--The Minnesota Credit Union Network (MnCUN) celebrated success, presented its annual awards and announced the results of its board elections at the league's annual meeting, held April 25-26 in St. Paul, Minn.
Len Luoma, center, Hermantown FCU board chair, was honored as the 2014 Outstanding Volunteer of the Year at the Minnesota Credit Union Network's annual meeting. The award was presented by Pat Pierce, left, MnCUN board chair and president/CEO of City and County CU, St. Paul, and Mark D. Cummins, right, MnCUN president/CEO.
National Credit Union Administration Chair Debbie Matz was the April 25 general session speaker. Among the issues Matz addressed were risk-based capital standards, interest-rate risk and consumer choice.
"Consumers choose the financial institution that best meets their needs," Matz said. "Credit unions are providing the up-to-date services that their members want, and other consumers are recognizing that, too."
She congratulated Minnesota credit unions for their solid growth and financial performance, including a 3% growth rate that is well above the national average.
MnCUN honored two credit union advocates with its most prestigious awards--Outstanding Credit Union Volunteer of the Year and Outstanding Credit Union Professional of the Year.
Leonard Luoma of $115 million-asset Hermantown FCU was recognized as the Outstanding Credit Union Volunteer of the Year.
Luoma has served as Hermantown board chair for 41 years. During his time on the board, Luoma's leadership has helped drive Hermantown's growth to $116 million in assets from $1 million in assets.
Barbara Brown, president/CEO of $70 million-asset Northwoods CU, Cloquet, was recognized as MnCUN's 2014 Outstanding Professional of the Year.
Barb Brown, president/CEO, Northwoods CU, Cloquet, is the Minnesota Credit Union Network's 2014 Outstanding Professional of the Year. The award was presented by Pat Pierce, left, MnCUN board chair and president/CEO of City and County CU, St. Paul, and Mark D. Cummins, right, MnCUN president/CEO. (Photos provided by Minnesota Credit Union Network)
Brown has served with Northwoods CU since 1987, starting as a teller and working her way through several positions before becoming CEO in 2003. Since 1999, Northwoods' assets have more than doubled--reaching $70 million--and membership has increased by more than 160%.
Brown also led Northwoods CU's sponsorship of its community ice arena.
Two incumbents were re-elected to three-year terms on the MnCUN board of directors. Dan Stoltz, president/CEO of $606 million-asset Spire FCU, Falcon Heights, was re-elected to a seat for credit unions in the Twin Cities metro area. He also was elected secretary/treasurer of the board.
Paul Knorr, president/CEO, Accentra CU, Austin, with $111 million in assets, was re-elected to the greater than 10,000 members seat.
The MnCUN board also elected the following table officers: