“Alone we can do so little; together we can do so much.” That'sa phrase coined by Hellen Keller. When we face challenges, both inlife and business, most of us can agree we have a better chance ofovercoming them when we band together with others. It's a conceptthe credit union industry knows very well – and should be carefulnot to lose sight of.

Credit unions are unique from banks in that instead of competingwith one another, they function as a unified team. As an example,for our last print issue's Focus Report, which focused on humanresources and benefits, the Filene Research Institute's AndrewDownin wrote a piece that encouraged credit union HR leaders topromote the industry's unique professional culture, including thefact that employees are welcome to hop from one credit union toanother as they climb the career ladder. “What if part of a creditunion's recruitment pitch was 'do well here, and you could move upto a leadership role here or at another credit union,'” he wrote.“I can't imagine Wells Fargo ever saying that working for Chase isa welcomed next step for a new hire.”

Earlier this month, the collaborative credit union spirit wasalive at the 2017 CUBG National Conference, hosted by businessservices CUSO CU Business Group in Portland, Ore. Defined by CUBGCEO Larry Middleman as a “boutique conference,” it drew only about150 attendees, which allowed for so much more interaction andconversation compared to, say, GAC. Nothing against the big shows,it's just fascinating how being part of a smaller group can morphpeople into friendlier, more open versions of themselves – kind oflike living in a small town versus a big city. CUBG even kicked offwith a lively session led by consultant Allison Clarke on how toremember people's names, which got everyone up out of their seatsand talking (looks like I was on target with my interactive sessionsuggestion in the column, “DearCredit Union Conference Planners”).

Getting to know new people at a conference is one thing, but ona larger scale, collaboration is a matter of survival for creditunions. In an interview with CU Times at the conference, Middlemandiscussed how credit unions have begun landing bigger business loandeals that could only be completed successfully when tackled as agroup. He described one deal in which a group of 13 credit unions,all working with CUBG, made participations to service a $45 millioncommercial loan. Since credit unions are still quite small in termsof the entire banking world, continuing to live by the motto“strength in numbers” is a wise move.

When it comes to business services, credit unions are morelikely to grow their programs when they have a support system inplace, and some may not even be aware of the help that exists outthere. In one CUBG session, “Buildinga Successful Branch-Based Small Business Program,” Jim Hansonof JDH Consulting gave attendees the rundown on his program, whichhelps credit unions train employees to proactively serve smallbusiness members in their branches and see results that infiltratethroughout the entire institution. To those credit union executiveswho feel overwhelmed by their daily tasks and are wearing so manyhats that they feel adding a small business program to their listwould be impossible, Hanson said, “Don't feel like you're alone.”Opening the gates to a new stream of business could be as simple asoutsourcing tasks to a third party with special expertise.

More collaboration success stories poured in during CUBG –according to Middleman, a large San Diego-based credit union beganworking with CUBG seven years ago to restart its commercial lendingprogram, which has grown steadily since; its portfolio is now morethan $300 million and the credit union is considering sellingparticipations through the CUBG network to manage its MBL cap.Another credit union attendee, Middleman said, shared how CUBGessentially trained her in commercial lending and has helped herbuild a participation portfolio from zero to $34 million. “She nowhelps and trains other credit unions in her area because of theknowledge she has gained,” he said.

Discussions at the conference even led credit unions involved inbusiness services to explore new concepts – Middleman said a newfocus for attendees this year was to broaden their ability to offermulti-family loans, as CUBG now has an avenue for credit unions toaccess HUD and Freddie Mac programs under better terms and pricingthan they could on their own. That's just one more example of howwhen credit union people get together and pick each other's brains,new doors open and progress begins.

Like any big-city dweller would know, it can be easy to feelalone even when you're surrounded by people, but in the creditunion industry, you don't have to. Looking to start a new projector line of business but don't have the resources to do so? Reachout to a CUSO, consultant or another credit union and figure outhow you can pool your resources to make it happen.

If collaboration is a matter of survival for credit unions, thisis no time to be passive, isolate or simply continue doing businessthe way you always have. Credit unions must continue to change andevolve their practices, and the only way they can do that is bysticking together, working together and allowing new ideas toflourish.

Natasha Chilingerian is the Managing Editor at Credit UnionTimes. She can be reached at [email protected].