BankThink

Someone forgot to tell Susan Chapman, vice president of marketing strategy for Smart Financial CU in Houston, that there is a recession going on. A sharp focus on the consumer relationship market this year generated more loan activity for Smart Financial and led to a budget increase in 2011 for her marketing department. "If I can go to our board committee and say for every dollar spent we're bringing back $10, or whatever it is, I can get an OK to spend more money," Chapman said.

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The Jan. 26 "Editor at Large" column on regulation of community banks, "Time for a Separate Regulatory Tier for Small Banks," struck a nerve with a variety of readers.

While the market downturn of the past three years has had an impact on mortgage lenders of all sizes, it has also provided an opportunity for many credit unions to emphasize the difference between their level of service and that perceived of the larger, national firms.

It remains to be seen whether the historical superiority of credit unions will hold up in the current environment. Early indications suggest it may persist, but the jury is still out.

Faced with the many challenges this crisis brings, how will the industry regain momentum and prosper? Innovations in processing payments may be the answer.

If you currently feel that too many loans are denied at your credit union, I suggest the following.

As this issue of Credit Union Journal is the last to be published in January, let's close out by acknowledging a story from 2010 that hasn't engendered a lot of discussion: No credit union converted to a bank charter.

Servus Credit Union in Alberta, Canada, said it is seeking to help its community fulfill their New Year's Resolutions through an initiative they are calling the Feel Good Ripple program.

By now, your strategic planning for 2011 is undoubtedly completed. Yet at this point, it is difficult for any of us in the credit union world to tell how effective our planning will be.