The panel consisted of WesCorp CEO Bob Siravo, CO-OP Financial Services CEO Stan Hollen, Fiserv CU Division President Joe Barry, CUNA Mutual CEO Jeff Post. The session was moderated by Credit Union Times Editor/Publisher Paul Gentile.
The fate of small credit unions, overall consolidation, board diversification, a national branding campaign, and earnings disparity among credit unions were among the hot topics.
Each panelist also talked more specifically about their respective businesses. Post said while a name change is not on the table right now, it's also not out of the question. Siravo said corporate consolidation is up to credit unions ultimately to decide, but that economies of scale can help corporates deliver more to the industry. Hollen urged attendees to stop supporting banks and start looking to CU options for various products and services. Barry drove home the point that Fiserv is not looking to consolidate its seven credit union data processing subsidiaries, despite years of industry speculation. Gentile urged attendees to push for a national credit union branding campaign to make more consumers aware of credit unions.