The need for succession planning in credit unions isn’t a secret. There is a very real need to groom future industry leaders as many CEOs prepare to retire.
I became interested in credit unions and cooperatives because they are business models that promote economic justice. I was looking for alternative to the traditional banking system that today appears solely to focus on profits over people.
While most people think of logos, taglines and corporate colors, they are not solely what a brand truly is. Your brand is the trust members place in your credit union. An exceptional experience and promise of trust is what your brand should be delivering at every interaction.
In last month’s Cooperative Trust column, Erin Steffen’s message was clear: Don’t be afraid to up sell your products to members, and start considering technology channels as critical components of your service. [See CU Times, April 4, page 17.]
Before attracting younger members, you need to educate them on why they should join your credit union, which was one of the main goals for 2012 at my credit union.
Consumers have been conditioned to have a “what’s next?” mentality when it comes to new product launches and technology improvements. They’re often not even aware they needed the latest gizmo, but it quickly moves to something they can’t live without.
Back in 1908, when Monsignor Pierre Hevey was setting up America’s first modern-day credit union in his Manchester, N.H. home, he probably wasn't concerned with delinquencies and charge-offs. As the founders of the modern American credit union, Hevey and his team focused on services important to his parishioners at the...
What do we do now that Bank Transfer Day has come and gone? How do we show what makes credit unions relevant to consumers today? Industry folks can clearly define the difference between a bank and a credit union. But if you ask the average consumer, what might their response...
Reflecting upon the life of Steve Jobs, I’ve thought about what the credit union industry can learn from the many great things said and accomplished by the man who helped build Apple.
Credit unions began as a revolutionary idea of people helping people by pooling together resources and encouraging self-help. It's time to remind people of that.