Credit union CEOs have developed a newfound "merger competency" that is fast becoming part of their skill set, according to a new white paper report issued Monday by the CUNA Councils.
The 19-page report, written on behalf of all six CUNA Councils, found that mergers sometimes flounder because of too much focus on the financials and operations whereas the "critical element" for CU managers is "knowing the importance of tradition and culture."
"While integrating two cultures, capable leaders know the importance of symbols and signals in communicating with employees about change," said the paper entitled "Developing a Merger Competency."
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