The head of the $4 billion Randolph-Brooks Federal Credit Union in Texas said he is looking forward to Saturday's CUNA Corporate Summit in Chicago as a pivotal conclave where key decisions on the future of corporate services and structure might be made.
Randy Smith, president/CEO of Texas' third largest CU, told Credit Union Times he is primarily representing a 13-member CEO panel chosen by the interim management of the NCUA-conserved Southwest Corporate FCU charged with coming up with a new business model or so-called system wide solutions.
"We are indeed looking for a way to stay with a corporate solution because we know from experience what can go wrong and I'm talking about events of the 70's," Smith said, referring to a third party, bank-owned vendor that "shut us out of share drafts trying to discriminate." He said that is what led to the formation of the CU-owned Town North Bank of Dallas.
Smith, who said he will also be representing NAFCU in Chicago, will number among an exclusive invitee list of 80 CEOs and top policy makers from corporates, leagues, third party vendors and CUNA leadership committees, including members of CUNA's own Corporate Next Steps Task Force.
As for Southwest, he said he is optimistic a set of service options now being readied by the 13-member committee chaired by Kerry Parker, a fellow Texan and president/CEO of A+ FCU of Austin, will be put forward soon. That 13-member panel represents the wider 140-member Advisory Council also set up by the interim Southwest management and is acting as a sounding board for CEO views among Southwest users across the U.S.