While credit unions are considered to be a form of a "cooperative," its

true we don't always cooperate and work as well together as we should

and sometimes there even seems to be some disdain for cooperation within

our industry. I often hear or read something in our industry that says

otherwise, but which seems somewhat delusional, putting a veil over the

true reality of the inner workings of our industry or lack thereof. We

are deficient in having a cohesive group mentality with concerted

efforts towards moving the industry forward sometimes or in utilizing

opportunities that may present themselves. Shared adversity, a common

enemy, or simply the "common good" often can promote cooperation and

teamwork, but even recent challenges we all share such as with new

regulations, the bad economy, and even the negative image of banks

lately, haven't had much if any of that uniting impact among credit unions.

Reasons given for not having more of a joint effort often involve a cost

of funding or having staff or other resources available, where

especially many medium and smaller sized credit unions feel they can't

contribute or make a difference. But excuses aside, we should all find

some way of uniting, whether it be nationally or on a smaller more local

level, and take advantage of strength and size in numbers. Together our

combined asset size and resources could be more formidable and effective

in satisfying member needs. Each one of us should make a greater effort

as much as we can toward a more unified and cooperative direction for

our industry than we have or are deluded in thinking we have. Becoming

active in our industry, such as joining the CUNA Councils and actively

participating on committees is something we all can do and may not

require as much time as you might think.

Sharing experiences and solutions to common needs and problems,

developing greater industry standards such as the CUFX system interface

standards, and helping one another in this industry of ours will not

only go a long way in helping our industry succeed, but will translate

in direct benefits to your credit union and yourselves, helping you to

grow professionally while also giving you that warm feeling of greater

fulfillment in life that helping often provides. Yes, you can make a

difference no matter what your circumstances or that of your credit

union are. You just have to decide to do so.

Robert Reh

Chief Information Officer

Nassau Financial FCU

Instant Insights /

Big vs. Small CU, SEG-based vs. Community Charter; CUs An Industry Divided?