BankThink

Bull’s eye.

Continued credit union growth is predicated on the ability of credit unions to not only keep the members they have, but also attract new members. It is important for credit unions to focus on employees and business operations, but in order to grow and prosper they should concentrate on their members. Members serve as the conduit between the employees of the organization and any earnings potential that an organization may realize.

Thinking about growing your credit union? Have growth at the heart of your strategic plan? Do you, the board and the management team spend time talking about growth? Big mistake!

Credit unions place a heavy emphasis on building member satisfaction and loyalty. Yet for many, developing deeper levels of trust and loyalty with their members remains an elusive and perplexing process. This may be because these organizations frequently neglect a critical ingredient–the “heart” or “emotional bond” between the credit union and its employees and members.

Notes from the road, from Lindbergh Field to Lindbergh Terminal, from cars to bikes...

Credit unions for the most part have had limited success in convincing members that they are a viable option for mortgage loans, and nationally credit unions still have less than 2% of the mortgage origination marketplace. Well, that’s about to change!

The rule is simple. An exceptional member experience may not necessarily happen as a result of happy employees; but creating a sustained, exceptional member experience is virtually impossible with unhappy employees. That’s why building an exceptional member experience begins with building a great employee experience.

Let’s face it. Some credit union CEOs just produce a lot of gas. Hot air. Bluster. Bravado. But mostly, gas. They’re not alone. Their management teams and their boards are, well, gassy, too. Indeed, their entire credit union is one big gas bag.

Malware writers continue to find new and inventive ways to infiltrate credit union computer networks and get past traditional security systems that were designed to stop them. Over the last year we’ve witnessed cyber criminals direct their efforts on a specific target with the primary goal of financial gain. What was once only an annoyance has morphed into a multi-billion dollar global enterprise. Not surprisingly, the characteristics of this new breed of malware involve a far more sophisticated approach that is not easily stopped.

Dispelling all thoughts of fairness and equity existing in Washington evaporated with the announcement of this “reform” plan. Perhaps it should be renamed the “let’s see if we can get the suckers [the public] to pay for more bank failures.” Did you and I forget the “Savings and Loan Mess” of the 80s?