SAN FRANCISCO-In a city known for its bridges, a networking group for credit union executives is helping small CUs cross the "Great Divide" that can often be found between larger and smaller credit unions.
The group, which recently changed its name to CU Executives of Northern California, was founded as the Credit Union Bay Area Executive Coalition in 2004. The original group was formed by 11 small CUs to network, discuss issues and find common solutions by sharing experiences and resources. Today, membership is limited to CEOs from credit unions with up to $250 million in assets, but it has been expanded to include more than just CUs in the greater San Francisco area.
Debra Trapani, CEO of $26.9-million Sierra Point CU, South San Francisco, who has been with the group for nearly seven years, is the new chair of the advisory committee, said the group helps CUs with collaboration and reduction of prices for services. "Probably the greatest aspect has been the networking opportunities. We are able to discuss issues in a frank manner without worrying about what we say or how we say it."
Trapani said recent topics of discussion have included vendor management, CEO contracts, retirement plans and lending.
A Common Bond Among CUs
Linda White, CEO of $50.2-million United Health CU, Burlingame, Calif., said the group is "keeping true" to the reasons it was founded in 2004.
"Only six of the members have more than $100 million in assets, and most have less than $50 million," she said. "Our credit unions have a common bond in that many people have to wear multiple hats, because we do not have separate departments."
The group meets every two months and maintains a website with a member-only, secure area for sharing documents.
"It has forged a lot of relationships that allow people to exchange ideas," she said. "We recently had an attorney come and talk to us about foreclosures. When we all had to go through electronic lien titles in California, and we were vetting different vendors, we came together and did it as a group. It is a nice setting for when looking at new products and services."
White said CUENC has no official "leader" beyond the advisory committee.
"I was one of the originals," White recalled. "We are still organic. We are about networking and solving issues amongst ourselves. The most useful part is the group vetting process and the open discussions we have. While I know a lot of CEOs among my peers, I now feel a lot more comfortable picking up the phone and calling them because of the group."
White said CUBAEC already had people coming to its meetings from outside the Bay Area prior to its recent expansion, which has led to a "shift" in the group.
"We are pretty pleased about that. It gives us different perspectives and ideas, and it enlarges our base for price reductions from vendors."
