Minnesota Department of Commerce

Connexus Energy Named to Fast Company's Annual List of the World's Most Innovative Companies of 2024

Retrieved on: 
Tuesday, March 19, 2024
Electricity, Editorial, EV, Culture, Organization, Target, PG&E, Farmer, National Renewable Energy Laboratory, MISO, MIC, Level 2, Bird, AI, Hope, Énergir, Commerce, Cargill, Energy, Portland General Electric, Argonne National Laboratory, Most, Connexus, NREL, Federal, Minnesota Department of Commerce, Renewable energy

RAMSEY, Minn., March 19, 2024 /PRNewswire-PRWeb/ -- Connexus Energy has been named to Fast Company's prestigious list of the World's Most Innovative Companies of 2024. Ranked #4 in the Energy category, Connexus Energy is Minnesota's largest member-owned nonprofit electric cooperative.

Key Points: 
  • RAMSEY, Minn., March 19, 2024 /PRNewswire-PRWeb/ -- Connexus Energy has been named to Fast Company's prestigious list of the World's Most Innovative Companies of 2024.
  • Ranked #4 in the Energy category, Connexus Energy is Minnesota's largest member-owned nonprofit electric cooperative.
  • Alongside the World's 50 Most Innovative Companies, Fast Company recognizes 606 organizations across 58 sectors and regions.
  • Since the award's inception, just nine other Minnesota companies have been named, including Target, Cargill, Polaris, Prime Therapeutics, and Puris.

AM Best Downgrades Credit Ratings of RAM Mutual Insurance Company; Places Credit Ratings Under Review With Negative Implications

Retrieved on: 
Thursday, December 14, 2023
Banking, Professional Services, Insurance, Finance, Pressure, ERM, Credit, Commerce, Minnesota Department of Commerce, Uncertainty, RAM, AM Best, Good, News, ALL, Risk management

Concurrently, AM Best has placed these Credit Ratings (ratings) under review with negative implications.

Key Points: 
  • Concurrently, AM Best has placed these Credit Ratings (ratings) under review with negative implications.
  • The ratings will remain under review until AM Best can fully analyze the impact of these initiatives on the balance sheet metrics.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

Commissioner Arnold Testifies on Behalf of NAIC at U.S. House Financial Services Subcommittee Hearing

Retrieved on: 
Friday, November 3, 2023
Minnesota Department of Commerce, General insurance, Policy, Parity, National Association of Insurance Commissioners, Committee, Congress, NAIC, National Flood Insurance Program, NFIP, Climate, House, Consumer, Hearing, Housing, Task force, National Association, Insurance

Testifying at a hearing on "The Factors Influencing the High Cost of Insurance for Consumers," Commissioner Arnold observed how state insurance regulators "have the capacity to respond swiftly and nimbly to market conditions" in each of their markets.

Key Points: 
  • Testifying at a hearing on "The Factors Influencing the High Cost of Insurance for Consumers," Commissioner Arnold observed how state insurance regulators "have the capacity to respond swiftly and nimbly to market conditions" in each of their markets.
  • In her companion written testimony, Commissioner Arnold discussed NAIC Members' work on two of the biggest challenges facing the insurance marketplace: natural catastrophes and emerging technologies.
  • "We are on the front lines assisting consumers with policy questions and talking to businesses about their concerns.
  • She also urged support for the bicameral, bipartisan Disaster Mitigation and Tax Parity Act of 2023 (S. 1953 / H.R.

Department of Energy Awards Xcel Energy up to $70 Million for Long Duration Energy Storage

Retrieved on: 
Friday, September 22, 2023
Technology, Other Energy, Utilities, Oil, Gas, Coal, Alternative Energy, Energy, Batteries, Nuclear, U.S. Department of Energy, Office of Inspector General, Xcel Energy, Minnesota Department of Commerce, Form Energy, Ministry of Energy, Minnesota Public Utilities Commission, Electricity, DOE, Primary energy, Comanche, Sherburne County Generating Station, Wind, Commerce, Inflation Reduction Act of 2022, Form, Colorado Public Utilities Commission, Weather, Breakthrough, Sherburne County, Minnesota, Renewable energy, Construction, Becker

Xcel Energy announced today that it has received a grant of up to $70 million from the U.S. Department of Energy (DOE).

Key Points: 
  • Xcel Energy announced today that it has received a grant of up to $70 million from the U.S. Department of Energy (DOE).
  • The award will partially fund two long duration energy storage systems in Minnesota and Colorado.
  • Each demonstration-scale system will be a 10 megawatt/1,000 megawatt-hour iron-air battery developed by Massachusetts-based Form Energy.
  • The long duration energy storage systems will strengthen the grid against day-to-day and week-to-week variability of renewable energy.

CASE Launches Campaign to Oppose "Can Tax" on American Consumers

Retrieved on: 
Thursday, April 27, 2023
United States International Trade Commission, Minnesota Department of Commerce, CASE, Congress, Cleveland-Cliffs, United Steelworkers, Commerce

"A new 'can tax' would force consumers to pay more for the items they buy every day, even as millions are still struggling to make ends meet," said Gerard Scimeca, chairman of CASE. "Through this campaign we hope to protect consumers from artificially inflated prices at the grocery store. The Biden administration should reject this corporate handout -- and instead advance policies that will lower prices for Americans."

Key Points: 
  • The petition seeks tariffs of up to 300% on tinplate steel imports from eight countries.
  • Tinplate steel is used to make cans for a wide range of consumer staples, from tuna to baby formula.
  • Implementing the proposed tariffs would cause the price of canned goods to skyrocket even as inflation strains American families' budgets.
  • "Through this campaign we hope to protect consumers from artificially inflated prices at the grocery store.

NAIC Names Its 2023 Committee Leadership

Retrieved on: 
Wednesday, January 18, 2023
Colorado Division of Insurance, Consumer protection, Labour, Commerce, Pennsylvania Insurance Department, Name, Washington State Office of the Insurance Commissioner, Missouri Department of Social Services, Colorado Department of Regulatory Agencies, Division, National Association of Insurance Commissioners, Chair, Regulatory Agencies, NAIC, National Association, Regulation, Insurance commissioner, Minnesota Department of Commerce, Conduct of Employment Agencies and Employment Businesses Regulations 2003, South Dakota Department of Game, Fish, and Parks, South Carolina Department of Natural Resources, Management, Private investigator, Financial services, Insurance

KANSAS CITY, Mo., Jan. 18, 2023 /PRNewswire/ -- The National Association of Insurance Commissioners (NAIC) has named its 2023 committee chairs and vice chairs.

Key Points: 
  • KANSAS CITY, Mo., Jan. 18, 2023 /PRNewswire/ -- The National Association of Insurance Commissioners (NAIC) has named its 2023 committee chairs and vice chairs.
  • The NAIC also assigned members to its standing committees and named its 2023 task force chairs and vice chairs based on requirements established by the NAIC Bylaws .
  • "I look forward to seeing the work that the eight standing committees will produce and the lasting impact their work has on state-based regulation and the industry overall."
  • The 2023 NAIC committee leadership assignments are as follows.

Organizers of what will be Minnesota’s first Black-Led Community Credit Union conducted their “official” organizers meeting

Retrieved on: 
Tuesday, November 8, 2022
Professional Services, DEI (Diversity, Equity and Inclusion), Environmental, Social and Governance (ESG), Small Business, Socially Responsible Investing, Finance, Banking, Foundation, Color, Association, National Credit Union Administration, Minnesota Department of Commerce, National Credit Union Administration v. First National Bank & Trust Co., Insurance, Delta Community Credit Union, Commerce, Small business, History, Minnesota Department of Employment and Economic Development, Multimedia

On Oct. 27, The Association for Black Economic Power (ABEP), along with the Minnesota Credit Union Network (MnCUN) hosted the official Arise Community Credit Union Organization Meeting.

Key Points: 
  • On Oct. 27, The Association for Black Economic Power (ABEP), along with the Minnesota Credit Union Network (MnCUN) hosted the official Arise Community Credit Union Organization Meeting.
  • View the full release here: https://www.businesswire.com/news/home/20221108005197/en/
    Minneapolis credit union community organizers host official meeting to create Minnesota's first Black-led community credit union.
  • (Photo: Business Wire)
    The seven community organizers of Arise met to elect the membership; elect the credit unions board, supervisory and credit committees; and approve the credit unions by-laws.
  • To support ABEP in this effort, last year the Minnesota Credit Union Foundation set out to raise $1 million in capital from support of the credit union community.

BLUE CROSS AND BLUE SHIELD OF MINNESOTA FOUNDATION WELCOMES EMILY PIPER TO ITS BOARD OF DIRECTORS

Retrieved on: 
Wednesday, August 17, 2022
Piper, Multimedia, Minnesota Department of Commerce, Minnesota Department of Public Safety, Independence Blue Cross Foundation, Blue Shield, Commerce, Government, Health equity, Human services, Blue Cross, Hazelden Betty Ford Foundation, Blue Cross (animal charity), Lieutenant, Blue, Trustee, Insurance, Work, Management

MINNEAPOLIS, Aug. 17, 2022 /PRNewswire/ -- The Blue Cross and Blue Shield of Minnesota Foundation is excited to announce the addition of Emily Piper to its board of directors.

Key Points: 
  • MINNEAPOLIS, Aug. 17, 2022 /PRNewswire/ -- The Blue Cross and Blue Shield of Minnesota Foundation is excited to announce the addition of Emily Piper to its board of directors.
  • In her role at Hazelden Betty Ford, Piper leads the organization's communications, government relations, and advocacy work.
  • "We are thrilled to have Emily join our board," said Bukata Hayes, chair of the Blue Cross Foundation board and vice president of racial and health equity at Blue Cross and Blue Shield of Minnesota.
  • In addition to her role on the Blue Cross Foundation board of directors, she is a member of the Blue Cross and Blue Shield of Minnesota board of trustees and serves on AddictionAbatement.org's National Substance Use Disorder Strategic Advisory Panel.

The Community Speaks: Village Financial Is Now Arise Community Credit Union

Retrieved on: 
Thursday, August 11, 2022
Other Consumer, Finance, Marketing, Banking, Communications, Professional Services, Small Business, DEI (Diversity, Equity and Inclusion), Consumer, Other Professional Services, People, Confusion, Association, Minnesota Department of Human Rights, Commerce, Minnesota Department of Commerce, African Americans, Pernicious, Arise, Credit union, Property management, Bank

The Association for Black Economic Power (ABEP) has announced a name change for the first Black-led community credit union in Minnesota: Arise Community Credit Union.

Key Points: 
  • The Association for Black Economic Power (ABEP) has announced a name change for the first Black-led community credit union in Minnesota: Arise Community Credit Union.
  • The former name of the credit union was Village Financial Credit Union.
  • When approved, Arise Community Credit Union will be the first new state and federal chartered credit union to open in the state of Minnesota in nearly a decade.
  • People are encouraged to visit our website to find out more about Arise Community Credit Union.

TopLine Announces Completion of Conversion From Federal to State Charter

Retrieved on: 
Monday, August 1, 2022
Online, Investment, Commerce Department trade mission controversy, ATM, GLOBE, Insurance, Instagram, CEO, Topline, United States Department of Commerce, History, Social responsibility, Commerce, Small business, Family, Volunteering, National Credit Union Administration, Animal Care Centers of NYC, Facebook, Credit union, Technology, Bell System, Minnesota Department of Employment and Economic Development, NCUA, Minnesota Department of Commerce, Bank

This move comes after the credit unions board of directors and membership approved the conversion in May.

Key Points: 
  • This move comes after the credit unions board of directors and membership approved the conversion in May.
  • Previously, TopLine was regulated by the National Credit Union Administration (NCUA), and moving to a state charter means the credit union will now be regulated by the State of Minnesota Department of Commerce, which also regulates other financial institutions in the state.
  • TopLine will be joining more than 70% of Minnesota credit unions as a state-chartered credit union, and will continue to remain a federally insured credit union by NCUA .
  • We are thrilled to receive final approval for TopLines conversion to a state-chartered credit union , said Tom Smith, TopLine President and CEO.