PayThink

Congratulations on the thought-provoking article in the Nov. 6 edition entitled, "Member Rights & Credit Union Democracy." Among the many important issues covered by your reporter and those individuals she interviewed, it was particularly illuminating to read former NCUA Chairman Dennis Dollar's concerns about the standard FCU bylaws such as, "I personally believe the viability of the federal credit union charter would be greatly enhanced by such flexibility being granted in the bylaw area, and I foresee NCUA eventually recognizing that it cannot prescribe strict standardized bylaws to practically every federal credit union and then not becoming a police force to enforce them."

Two of your credit union members just applied for home financing-at the bank down the street. They've been members for five years, feel perfectly at home with the convenience of your online checking account transactions, recently signed up for a safe deposit box, and stopped in last week to discuss a new car loan. But when they found their ideal home and needed financing, where did this young couple turn?

We all like to tidy up the unpleasantries of history. The further we get away from an event, the neater (not to mention shorter) we like to make it. Above all else, when we look back upon the opposing views throughout history we never fail to assume we would have sided with the forces of good and that we would have fought to defend those ideals.

"Taking a good, hard look at yourself" is a common cliche, but as another cliche so accurately notes, "it's easier said than done."

Member: Hello, I need to add an additional name to my credit card account. My son's going off to college, and I would like to have a credit card in his name that is attached to my account-you know-for 'emergencies only.'

This is the first in a series of articles that will describe how you can use data and analytics to improve your marketing success. What will be described is not a quick-hit solution, but a discipline that successful companies have learned to employ that creates the opportunity for continuous improvement of their business. This is not the next best marketing list, but a process to put your credit union on the road to success!

Frank Diekmann hit the nail on the head with his Oct. 23 editorial, especially when we see our economy going through some major adjustments. With outsourcing of business and jobs to other countries I believe we'll see an increase in the lower- and moderate-income households. In Detroit people are losing their jobs at a pace I've never seen before.

When you open your mailbox each day, how many credit card solicitations do you find? Chances are most days you get at least one-and so do your members. That's why it's vitally important that your members also receive mailings from you, reminding them that their credit union's card is the best deal around and that your card has the flexibility and features they want.

Since joining CUNA Mutual in 2005, President and CEO Jeff Post has been leading a review of the staid old insurance provider in ways that perhaps only an outsider to credit unions and the organization can. Recognizing that just because you dominate the market doesn't mean you satisfy the market, the review has led to realignments of product lines, the opening of a large, national customer service center in the Dallas/Ft. Worth area, some difficult self-analysis about its customer service, and even more painful staff reductions.

If a credit union-or any financial institution of any size-is going to succeed for the long-term and attract new members in an era of extreme competition, then its personnel must think of themselves as "problem-solvers."