Cooperative Principles Can Help CUs Thrive
Focusing on the benefits to members and the community will result in policies that will help credit unions be more appealing than their competitors.
That was the message that CUNA Mutual Talent Management and Recruiting Director Jennifer Kuhn and Boeing Employees Credit Union Community Affairs Manager Debbie Wege during their talk at America’s Credit Union Conference about incorporating the seven cooperative principles for credit unions into daily operations.
"Credit unions are unique in the financial services space with their cooperative model. Leveraging the credit union difference can help generate growth and financial success," Kuhn said.
Wege explained how her Seattle-based credit union acts as a big sister to Express Credit Union in King County, Wash, which focuses on serving low- and moderate-income families.
“We use our leverage to negotiate better deals for them, provide them with technical assistance and we mentor their staff,” she said. “This helps us serve the community and use the skills we have while also helping a smaller institution do its job better.”