2025 Dakota Credit Union Association Membership Matters Impact Report

MEMBERSHIP

Matters 2025

Dakota Credit Union Association (DakCU) is the professional financial trade association serving 61 credit unions that employ nearly 2,400 individuals across the Dakotas. With more than 551,000 members in North and South Dakota, Dakota credit unions have assets in excess of $11.1 billion.

A NOTE FROM OUR BOARD CHAIR It is an honor and privilege to serve as chair of the Dakota Credit Union Association Board of Directors.

As you know, the Dakota Credit Union Association is the only professional financial trade association representing all credit unions in the Dakotas. As the voice for the credit union movement in our region, we stand firmly in the corner of our credit unions and work tirelessly on your behalf so you can better serve your members. As your strongest advocate, we promote, protect, support, and advance the credit union movement in our region.

The Dakota Credit Union Association is committed to remaining relevant and providing value to our affiliated members. Each year, your association board reviews and reaffirms our strategic mission and purpose. We strive to be fearless champions for all Dakota credit unions, while providing both proactive and responsive advocacy in order to advance, empower, and protect member credit unions.

Our rolling strategic objectives consist of five priority pillars that focus on advocacy, compliance, membership engagement, business solutions, and credit union awareness.

The association strives to assist our members and help them be successful. That is a simple objective, but it is truly why we exist. With your continued partnership, we can successfully promote credit unions as the best financial choice for families and communities across our region. Together with our national partner, America’s Credit Unions, Dakota credit unions have a strong, unified, and superior national trade association model that focuses on advancing an environment where credit unions thrive and our credit union members achieve their best lives.

I encourage all of you to take advantage of the many tools and resources that your association has to offer to your credit union.

Please accept my heartfelt “Thank You” for your continued support. I look forward to your active engagement moving forward.

Lacey Fetsch Board Chair Dakota Credit Union Association

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MILLION PROVIDED IN DIRECT BENEFITS TO DAKOTA MEMBERS

532k

AFFILIATED MEMBERS SUPPORTED

$236

SAVED PER MEMBER HOUSEHOLD IN NORTH DAKOTA

$333

SAVED PER MEMBER HOUSEHOLD IN SOUTH DAKOTA

Your membership in DakCU entitles you to many dues-supported benefits that enhance your relationships with your own members. To meet the evolving needs of our credit unions, we continue to review and expand our valueadded offerings while further streamlining our operations, providing you the tools, resources, and access to business solutions that can help your credit union continue to succeed. We encourage you to explore all that DakCU has to offer you in your service to your credit union, and your members.

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A WORD FROM THE PRESIDENT We invite you to continue your membership with the Dakota Credit Union Association, where we are united by a shared commitment to advancing an operating environment where credit unions not only survive but thrive. Together, we champion a future where credit unions are trusted partners in helping people achieve their best lives.

Credit unions empower communities and offer unique financial solutions that put people first. By reaffiliating with us, you reaffirm your belief in the power of collaboration, the strength of shared values, and the importance of our united voice in shaping a prosperous future for all.

Together with our national partners at America’s Credit Unions, we are committed to fiercely advocating for forward-thinking policies that uplift people and advance the communities we serve. At the Dakota Credit Union Association, our members are our focus. Every initiative we undertake, every policy we advocate for, and every challenge we face is driven by the needs of our credit unions and their members. We strive for excellence in all we do, seizing opportunities that strengthen our collective impact while promoting an industry where respect and integrity are non-negotiable.

In a rapidly evolving financial landscape, we remain committed to providing the resources, advocacy, and support you need to navigate today’s challenges and tomorrow’s opportunities. With your continued support, we can ensure that credit unions remain the trusted, community-centered institutions they have always been.

Our vision is clear! Join us as we continue this important journey, building a future where credit unions shine as the cornerstone of financial well-being and community success.

Thank you for your continued support and dedication to the credit union movement.

Best regards,

Jeff Olson President/CEO Dakota Credit Union Association

Ongoing credit union system evolution is necessary for an ever-stronger environment for credit unions and their members to continue to succeed.

In 2024, CUNA and NAFCU merged to form America’s Credit Unions. As our new national association continues to move forward with one united voice throughout 2025, together with your Dakota Credit Union Association, we will continue to deliver the best in advocacy, education, compliance resources, and member solutions.

LEGISLATIVE & REGULATORY ADVOCACY

As an “advocacy first” organization, DakCU is the backbone of the credit union movement in our two states’ political advocacy efforts. Our highest priority is to provide representation at local, state, and federal levels to strengthen and promote a favorable operating environment for credit unions throughout the Dakotas.

DakCU also works closely with regulators to provide the credit union perspective, ensuring that our voice is heard when rules, regulations, and guidance are created that affect credit unions’ ability to serve their members.

LOBBYING FOR CREDIT UNIONS

DakCU registered lobbyists represent you on state and federal credit union legislative matters.

OUT FRONT ON LEGISLATIVE AND REGULATORY ISSUES

We track and monitor potential legislative and regulatory changes that may impact Dakota credit unions and keep you informed.

ENGAGING IN ADVOCACY

DakCU provides opportunities to attend meetings with state and federal officials so our elected representatives hear from you. With your input, comment letters are submitted on important proposed rules and regulations.

We facilitate Government Affairs Committees in each state to establish political goals, develop legislative strategies, and maintain grassroots involvement.

POLITICAL FUNDRAISING (DakCUPAC/America's Credit Unions PAC)

Funds are raised and distributed by the DakCU Political Action Committee and America’s Credit Unions Political Action Committee (DakCUPAC/America’s Credit Unions PAC). We contribute to candidates at the state and federal level that are supportive of the credit union movement.

GET INVOLVED WITH PAYROLL DEDUCTION

Get involved in our advocacy efforts by participating in payroll deduction at your credit union! In South Dakota, contact Chesney Garnos, Director of Political & Grassroots Affairs, at cgarnos@dakcu.org or701-250-3928. In North Dakota, contact Director of Legislative & Regulatory Affairs John Alexander at jalexander@dakcu.org or 701-250-3948 for more information.

National Advocacy Wins • Successful in protecting the credit union tax exemption.

• Opposing the Credit Card Competition Act. • Homebuyers Protection Act/Home Privacy Act. • SAFER Banking Act/Secure and Fair Enforcement SAFE Banking Act. • Protected access to overdraft protection.

• Supported legislation that provides safe banking options and data security for credit union members.

• Supported and assisted Senator Rounds in South Dakota in launching the Affordable Future Loan Program Act (AFLPA).

• Worked to advance credit union opportunities: • Lifting the MBL Cap and regulatory lending limits • Increase loan maturity limits • Supported and advocated for credit union board modernization legislation.

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South Dakota Wins

• Evaluated over 500 legislative bills.

• Monitored and influenced 17 bills that had a potential impact on credit unions.

• Provided written or oral testimony on 2 bills.

• Over 60 legislators attended the South Dakota Hike the Hill.

North Dakota Wins

• NCUA Lawsuit: In early 2024, DakCU led the way and assisted ND credit unions in recovering $11.9 million in assets previously denied by the NCUA. • Provided quarterly updates on the State Credit Union Board quarterly meetings .

• Initiated updates and modernization of the credit union administrative codes.

• Coordinated and hosted quarterly compliance related webinars.

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STATE AGENCY ENGAGEMENT

26

MEETINGS HELD WITH CONGRESSIONAL STAFF IN D.C.

17

18

SD BILLS TRACKED

IN-DISTRICT MEETINGS PARTICIPATED IN WITH CONGRESSIONAL STAFF

3

HIKE THE HILL EVENTS FOR CU ADVOCATES IN D.C.

ENHANCING ADVOCACY ACROSS THE DAKOTAS

"Advocacy" encapsulates our ongoing efforts in legislation, regulatory issues, grassroots efforts, political campaigns, and much more. To ensure a favorable operating environment and to facilitate continued success for our Dakota credit unions, we work daily with elected officials and policymakers to ensure we remain competitive and relevant in the financial services marketplace in our two states. Legislative and regulatory advocacy remains our core focus at the association.

Engaged in 483 legislative contacts, reaching 246 state lawmakers.

Coordinated over 20 congressional meetings with our Dakota members of Congress in District and in Washington, D.C. • Implemented 3 legislative action alerts resulting in 405 letters to our Dakota federal representatives.

Implemented meetings with state and federal regulators, including: • Coordinated 10 conversations with the Consumer Financial Protection Bureau.

• Initiated over 20 contacts with the NCUA and implemented two comment letters on proposed rule changes impacting Dakota credit unions.

• Engaged with the North Dakota Department of Financial Institutions and coordinated more than a dozen contacts with the department, including discussions on modernizing and updating the administrative codes.

Prioritized political action fundraising that achieved over $101,300 in the Dakotas.

• North Dakota raised 237.3% of their goal.

• South Dakota exceeded their goal by reaching 182.23%.

Contributed $52,500 credit union friendly candidates in both the primary and general elections.

TOP FEDERAL REGULATORY PRIORITIES

TOP FEDERAL LEGISLATIVE PRIORITIES

NCUA’S DECENNIAL REGULATORY REVIEW

COMMUNITY REINVESTMENT ACT

REGULATION E

MAINTAIN INTERCHANGE

DEBIT CARD INTERCHANGE FEES

OVERDRAFT/NSF

WAR ON JUNK FEES

CDFI APPROVAL PROCESS

NCUA OVERREACH AND REGULATORY FOCUS

FIELD OF MEMBERSHIP

REGULATORY COMPLIANCE

Here to help your credit union stay up to date on the ever changing regulatory landscape that impacts credit unions with cost-effective compliance solutions to help reduce regulatory and compliance burdens.

COMPLIANCE HOTLINE: Credit unions can submit unlimited regulatory and compliance questions to

ViClarity by email: DakCU@viclarityus.com or phone: 833-978-6043.

COMPLIANCE UPDATES: Quarterly calls via ViClarity and DakCU to keep credit unions informed

about regulatory and compliance issues.

CU POLICYPRO: Over 230 detailed model policies written and researched by credit union experts and ready

for your credit union to customize. Reviewed and updated regularly to stay current with regulatory changes.

INFOSIGHT: Online destination for compliance information. Offers immediate access to 15 major

compliance areas – including state specific topics, with links to applicable laws, regulations, resources, checklists and frequently asked questions.

Please contact John Alexander, jalexander@dakcu.org, for any compliance related questions or comments.

271

COMPLIANCE CREDIT UNION TOUCHPOINTS

116

COMPLIANCE BSA TRAINING & ROUNDTABLE ATTENDEES

64

COMPLIANCE RELATED ARTICLES & BLOGS

653

CREDIT UNION PAGE HITS TO LEAGUE INFOSIGHT

956

CREDIT UNION LOGINS TO CU POLICYPRO

MEMBER SOLUTIONS

Dakota Service Corp (DakCUSC) is the business side of DakCU. We focus on working together to solve your needs, so you can continue to serve your membership with “best in class” services. By collectively negotiating, researching, and vetting products and solutions, DakCUSC can assist our members in leveraging new technologies, expanding resources, increasing revenue opportunities, and reducing overhead expenses. We offer many products and services at greatly discounted pricing.

SYSTEM PARTNERS AND STRATEGIC ALLIANCES

DakCUSC engages in important strategic partnerships in order to provide you valuable resources to serve your membership, including TruStage™ our one true credit union system partner. Our partnership with TruStage helps you stay relevant in this constantly changing market by aligning talent and resources from THE industry leader.

DakCU’s Cooperative Alliance Program (CAP) is another tool DakCUSC uses to engage like-minded business solutions to assist our members, by providing consistent service and solutions as well as industry related educational opportunities and multiple sponsorships of association events. When you purchase products or services from a CAP partner, you are not only working with a trusted strategic partner of your association but also a business that believes in the credit union movement and is focused on your credit union’s growth and financial success.

CUNA Strategic Services Inc. (CSS), owned jointly by America's Credit Unions and the state associations, also saves credit unions money through its alliance program. Along with their trusted providers, CSS offers products and services that contribute to your bottom line, add peace of mind, and enhance member relationships.

When your credit union is considering a purchase, please contact us. If we don’t have a strategic alliance provider for that product or service, you can count on us to help you find one!

HR AND EMPLOYMENT LAW LEGAL ASSISTANCE

Jackson Lewis, P.C., a DakCU dues-supported benefit, provides legal advice focused in the area of labor and employment law. Employers need proactive strategies and business solutions that reduce workplace law risk.

Jackson Lewis doesn’t just tell you what is legal – they will tell you what’s effective.

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Please contact George McDonald, gmcdonald@dakcu.org, for questions regarding membership solutions.

MEMBER VALUE

Dues are calculated using formulas that consider a credit union’s asset size and number of members.

As a result, financial support of DakCU is weighted equitably between small and large credit unions alike. Our continued long-term vision is to maintain momentum on political and regulatory advocacy, as well as to grow awareness of the credit union difference. We do this in five core strategic areas:

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LEGISLATIVE & REGULATORY ADVOCACY Registered lobbyists on staff Coordinated congressional visits Political fundraising State and national legislative engagement

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COMPLIANCE Weekly compliance updates Compliance hotline CU PolicyPro InfoSight ViClarity

Comment letters

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and 5

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CU AWARENESS

MEMBER SOLUTIONS

Association website

Turn-key products and services

The Memo

Collaborative partnerships and preferred pricing

State-wide awareness program and public relations DakCU mobile app Visual ad campaign

Strategic alliances Cooperative Alliance Program (CAP)

PROFESSIONAL DEVELOPMENT & NETWORKING

To keep our members informed about the latest industry trends and to facilitate purposeful networking connections, DakCU provides a variety of opportunities for volunteers and staff to come together to collaborate and innovate. We also provide numerous on-demand and remote learning options available from the convenience of your own office. As a member of DakCU, you have the option to attend outstanding local and regional conferences and educational events that are affordable for every budget.

IN-PERSON/VIRTUAL OPPORTUNITIES TO LEARN

ON-DEMAND & REMOTE LEARNING

Annual Meeting & Summit New Ideas Conference Roundtable Dialogues Chapter Meetings Legislative Events Training for Volunteers GAC Crasher Program DakCU Summit Crasher Program iLead@11 DakCU Emerging Leader Sales CU Training CEO Town Halls Pints & Politics Events

Board Member & Supervisory Committee Responsibilities Compliance Issues & Regulations IRA Training Consumer Collection Lending HR Topics Strategic Planning Cyber Security and Fraud Online Education and Webinars And More!

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iLEAD@11 DAKCU EMERGING LEADER PROGRAM STRENGTHEN YOUR LEADERSHIP BENCH

The need to develop and train future credit union leaders continues to be a common theme arising from Dakota credit unions’ strategic planning sessions. The DakCU iLead@11 Emerging Leader Program was specifically developed to fill that need, utilizing the best cooperative principles of the credit union movement.

Credit unions need to define and develop leadership skills, develop deeper bench strength for future demands and expansions, and promote personal and professional growth for their staff and the next generation of credit union leaders.

Based on the successful and very popular iLead@11 program, DakCU has collaborated with Eleven Performance Group to bring this directly to you. This emerging leader program is tailored to fit the specific needs of Dakota credit unions, eliminating extended and expensive travel with a virtual – yet personal – course of instruction that features three pillars of study: leading yourself, leading others and leading the organization.

Over the past three years, DakCU has successfully supported over 20 emerging leaders through program completion. Now in our fourth year of the program, we’re excited for even more growth! Thanks to the support of your Dakota Credit Union Foundation and other strategic partnerships, program attendees can apply for funding of their tuition, paying up to 50 percent of the program cost through scholarships and grants.

If you are interested in learning more about how the iLead@11 DakCU Emerging Leader Program can benefit your credit union, please contact: George McDonald, Chief Officer of Strategic Services 701-250-3942 | gmcdonald@dakcu.org

DAKCU CRASHER PROGRAM

Another way to engage and promote emerging leadership talent is through DakCU’s “Crasher” Program, held each year during our spring Annual Meeting and Summit. DakCU provides select attendees from the Dakotas with a career enhancing track, specifically designed for talented emerging leaders. In addition, Crashers receive free conference registration and are led in a group setting by a professional credit union industry leader. The only cost Crashers and their credit union endure are accommodations and/or travel expenses.

Futhermore, at the national level, each year the Cooperative Trust selects one Crasher from each state to attend the Governmental Affairs Conference (GAC). In addition to receiving free conference registration for the biggest credit union event of the year, DakCU provides financial assistance scholarships. Crashers represent their respective state during opening ceremonies in a grand procession, participate in league hill hikes, and, as a group, experience specialized training, networking, and events.

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STATE-WIDE AWARENESS PROGRAM DakCU’s local State-Wide Awareness Program (SWAP) uses a targeted, multi-tiered advertising approach, generating regional awareness of credit unions. Our campaign also supports local businesses by engaging them in our advertising process and allows contributing credit unions to keep their money right in their local communities where they can see firsthand how it’s working to promote the #CUDifference!

The licensing agreement with the Michigan Credit Union League which began in 2024 is helping our Dakota credit unions break barriers by putting them at the center of consumer consideration for financial services!

Along with our new Try a Credit Union partnership, we have set a new and bold goal, aiming for 40% of the population throughout the Dakotas to be credit union members by the year 2030. Working together towards this goal, we can achieve great things!

For questions contact Lindsey Hefta, Director of Marketing & Communications at lhefta@dakcu.org.

Over 18 million impressions served in the Dakotas (May 2023-May 2024) GSTV

Gas Station TV ads reached nearly 2 million (1,944,011) impressions at the pumps across the Dakotas from Memorial Day weekend to the end of August 2023.

THANK YOU 2024 CONTRIBUTORS Affinity First FCU Area Community CU Aspen FCU Aspire Community FCU Avanti FCU Black Hills FCU Consumer’s FCU Coteau Valley FCU

Billboards

SWAP has reached over 13 million impressions on billboards alone. This year, we added Huron and Watertown markets to supplement Bismarck, Dickinson, Fargo, Minot, Sioux Falls, and Rapid City.

Dakota Plains CU Dakotaland FCU East River FCU Explorers FCU Fargo Public Schools FCU ​Fargo VA CU Fort Randall FCU Healthcare Plus FCU Hometown CU Huron Area Education FCU

​Lakota FCU Lamoure CU Lisbon Farmers Union CU Minot Area Schools FCU Minuteman Community FCU M-O FCU Norstar FCU North Star Community CU Oahe FCU Postal Family FCU

Geofencing

Wherever there is a contributing SWAP credit union, the community receives digital geofence ads. This focused technology reached 300,000 impressions.

Railway CU Riverfork FCU Sentinel FCU Sioux Valley Co-op FCU United Savings CU University FCU Voyage FCU Vue Community CU Western Cooperative CU

HEALTH BENEFITS TRUST

The DakCU Heath Benefits Trust (HBT) is a Multiple Employer Welfare Arrangement (MEWA). This health benefits program allows credit unions in SD to pool their resources to get their employees better health insurance options. With a MEWA, several employers combine contributions in a self-contributing benefits plan, making payments based on the number of employees and the estimated costs.

Our health benefits program was launched in 2018 as a solution to the ever-increasing healthcare costs and to provide a ‘best of class’ benefits program to our affiliated credit union employees. The DakCU HBT is a $10 million self-funded trust providing annual health benefits to 698 credit union employees and their families in SD. Along with our benefit consultants, Brown & Brown Insurance, the DakCU HBT offers premium health insurance coverage through Wellmark for SD based credit unions.

For questions regarding the Health Benefits Trust, please contact: Lisa Zinno, Brown & Brown Senior Account Manager 720-279-3438 or lisa.zinno@bbrown.com

Jeff Olson, DakCU President/CEO 701-250-3940 or jolson@dakcu.org

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DAKOTA CREDIT UNION FOUNDATION The Dakota Credit Union Foundation (Foundation) is the charitable arm of DakCU with one mission: To enhance and advance the financial well-being of the communities we serve.

In 2024, the Foundation Board of Directors made a bold and courageous move by approving a major commitment to the three regional Children’s Miracle Network Hospitals. Recognizing that physical health is closely tied to financial well-being, a total of $200,000 was pledged, to be fulfilled over the next several years.

In addition, the Board approved multiple grants for individuals to attend the Financial Counseling Certification Program (FiCEP) to earn their CCUFC designations, providing them with the skills and knowledge required to guide their members to sound financial decisions. The Foundation is also dedicated to supporting financial education events for both children and adults for healthier communities across the Dakotas!

All this is possible with the generous support of our member credit unions and individuals. For more information, visit www.dakcu.org/foundation.

For financial well-being resources, visit www.dakcu.org/financialwellbeing.

DAKOTA ADVOCACY FUND

Unexpected legislative initiatives and regulatory pressures can impact our operating environment. DakCU is prepared to resist any threats with our Dakota Advocacy Fund (DAF) that can be used to respond quickly to any local legislative threats or regulatory challenges that could negatively impact Dakota credit unions.

A continual source of funds is necessary. Funds are collected through a shared voluntary assessment of Dakota credit unions above $125 million in assets and administered by the DAF Steering Committee. DAF pools nondues monetary resources from affiliated credit unions to support emergency advocacy efforts and provides an equitable share contribution to the National Advocacy Fund (NAF).

OUR TEAM MEMBERS

Jeff Olson

President & CEO

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George McDonald Chief Officer of Strategic Services

Lindsey Hefta

Director of Marketing & Communications

Chesney Garnos Director of Political & Grassroots Affairs

John Alexander

Director of Legislative & Regulatory Affairs

Shawn Brummer

Communications/Media Specialist

Paige Langhoff

Office & Membership Coordinator

YOUR YEAR IN REVIEW

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MISSION

The mission of DakCU is to help credit unions succeed.

VISION

Our vision for DakCU is to be a premier, financially strong, relevant, inclusive organization that plays a key role in credit unions growing membership, strengthening their charter, and providing excellent service to members.

LONG TERM VISION

Our continued long term vision is to maintain momentum on political and regulatory advocacy, as well as to grow awareness of the credit union difference.

2005 NORTH KAVANEY DR, SUITE 201 BISMARCK, ND 58501 1741 SOUTH CLEVELAND AVE, SUITE 304 SIOUX FALLS, SD 57103 800.279.6328

www.DakCU.org