Time for Credit Union Dribs and Drabs
I took last week off to work around the house, and one of the many things I did was wander the aisles of the local Home Depot. I ended up in the landscaping area with the colorful, eye-catching plants. And standing in the potting soil right beside the plants were basic plant information tags with QR codes.
QR codes are squares that look like a fancy bar codes, and with the click of a smart phone, these particular ones take you to more information about care for that particular plant.
Texans troubles, in large part caused by business lending decisions, had to come to light, but it is an unfortunate time as credit unions continue to lobby for increased business lending authority. The bankers are trying to make hay of it, but hopefully members of Congress are smart enough to realize Texans is the exception and not the rule when it comes to credit unions.
And on to the next topic of my ramblings: succession planning. When I assigned the Billionaires’ Club story you’ll see on page 10, I had no idea what it would eventually focus on. I love that it turned out to be about well thought-out succession planning.
And on a final grave issue for credit unions, the need for directors’ education is coming more into the spotlight. The need has been there for some time, but it’s been hidden in backroom discussions between CEOs over drinks or off-the-record conversations with reporters.
While many in the industry complain that the NCUA should not be meddling anymore in the running of credit unions than they already do, this issue necessarily needs to be brought into the sunlight and is critical to the industry’s safety and soundness.