I've heard credit union managers and executives comment abouthow fast technology is changing, how fast information is coming atthem, and how quickly the industry is having to change to keepup.

One leader I spoke with even held his head and said, “Make itstop! Make it stop!” As the speed of change quickens, do you findyourself stepping on the gas or stepping on the brakes?

Try training your focus on these two mindsets to better prepareyourself for the onslaught of information and change.

Fuel Your Passion for the Ride

In my interactions with credit union executives, I've noticedmore people expressing passion for keeping things how they used tobe instead of feeling passion for where we are going. That's not atall unusual for an industry going through such dramatic change;however, to be a progressive leader, one must embrace change andfigure out how to create greater success under the “new rules.”

Look at your strategic plans for this year: Are you embracingtransformation, or are you hoping for an economic recovery to helpyou with incremental change? Your passions are leading you. As aleader in your credit union, your passion becomes the benchmark forthose looking to you for direction and inspiration.

If your passion is about embracing innovation, having a desireto thrive in this new economy and feeling driven to make the creditunion better daily, your passion is not only fueling your ride buttheirs as well. Conversely, if you shake your head at newregulations, wishing for how things used to be or literallycounting down until the day you can retire – you are also tellingyour employees how to follow your lead.

Once again, check yourself: Are you stepping on the gas orstepping on the brakes?

Embrace the New Rules

Credit unions once were very cooperative with each other. Todaythey can have overlapping memberships, and the gloves are off.

Credit unions always felt the banks couldn't touch credit unionservice; that gap has closed significantly. Credit unions once werelocally based and counted on great loyalty from their members.Members are now service/rate/product shoppers and are learning toembrace technology that credit unions may be lagging on. (Do youhave your mobile app yet?)

The new rules of member engagement have permanence, andtechnology is the driving force behind them. Virtual banking is nolonger cutting edge but rapidly becoming a minimum standard.

Mobile apps and virtual wallets are the new edge — that is,until the next innovation comes along. Members have higherexpectations and are looking for the best fit for their financialneeds, their time-demand concerns and their need for doing theirfinancial business on their time – not on branch hours.

The new rules call for a greater focus on competitiveadvantages, on serving the members on their terms, and havingfrontline staff with great skill in personal interaction withmembers.

Depending on your viewpoint, these can be exciting times wherecredit unions are aggressive in their competition and dramaticallygain market share, or these are dark times for credit unions ascompetitiveness replaces the family atmosphere of your friendlylocal friends in finance.

Without question, these are transitional times in the industry.How you decide to fuel your passion and how aggressively you wantto embrace the new rules of engagement will dictate the directionof your credit union. Which decisions do you think will make itstop?

Russell J. White is a consultant, speaker andpresident of Pinnacle Solutions in Lake Wylie, S.C.