ST. PAUL, Minn. (10/29/13)--
|A meeting of Minnesota Department of Commerce examiners and the Minnesota Credit Union Network included Chief Examiner Carl Schwartz and his team of examiners, left, and, on the right, MnCUN President/CEO Mark Cummins and Vickie Ganrude, MnCUN director of business development. (Photo provided by Minnesota Credit Union Network)|
The Minnesota Credit Union Network conducted an education session last week with a group of credit union examiners from the Minnesota Department of Commerce, the state's regulatory agency of state-chartered credit unions.
The group met on Thursday with MnCUN President/CEO Mark D. Cummins and Director of Business Development Vickie Ganrude.
MnCUN presented an overview of its mission and an overview of consulting services provided by Ganrude and MnCUN Compliance and Audit Consultant Marcia Armstrong Lewis.
"From a compliance standpoint, receiving a document of resolution (DOR) is never a pleasant thing for a credit union," said Ganrude. She noted the consulting services "can help guide credit unions through the challenging process of addressing the issues raised in the DOR."
Other topics discussed included the scope of industry regulations and the potential impact of credit union taxation.
"This was a good opportunity to meet with the state regulators who work directly with our credit unions on a regular basis," Cummins said. "It's important for us to keep the lines of communication open so we can best serve our credit unions."