If credit unions learn just one thing from the recession, it should be that they're not just tied together through the cooperative spirit-they are also bound together for better or worse as a regulated industry.

The credit union needs to serve its members, but stick to the same credit mix that management calculated that the credit union could handle during "normal" times.

We are not just sitting in our offices, waiting for the members to come to us with their needs; we are proactively reaching out to our members and the community.

The troubles that began in 2008 prompted Clarence Community & Schools FCU to begin paying closer attention to the "writing on the wall."

Credit Union Direct Lending (CUDL) expects credit union indirect lending programs will benefit in the long run from the recent trough times.

Nancy Bodhorn, Manager of Spencerport FCU, can't narrow it down to one lesson from the recession, instead saying the CU learned to do a number of things better.

Pre-recession it was relatively easy to bring in new members. We became accustomed to that, but with the recession member viewpoints changed. We had to be much more business savvy, and we had to be more astute in operating efficiency.

CEOs need to always remember they must be the risk-management gatekeepers, and not allow underwriting standards or other quality factors to be loosened simply for volume, yield or ego.

If there's one thing the 2007-09 recession taught us, it1s to never underestimate an economic contraction. Historically, the average duration of a recession has been about 11 months. Not only did this downturn last around two and a half years, but the recovery continues to struggle.

While we are the "good guys" in the financial services arena, we certainly aren't immune from the negative aspects of business.

Don't be overly cautious. Members have needs, and a lot of our members have been through a particularly difficult period in their lives financially. You need to be there for them.

If there's one thing Baxter CU learned from the recession, it has been the importance of understanding data at a deeper level.

Hiring a dedicated staffer to handle indirect lending has been a major change with major benefits at Affinity Group CU here, the result of a lesson learned during the recession.

GCS FCU is continuously moving along with the economy. The credit union has implemented strategies to help deal with these ever-changing times and to better serve its members.

Living through the recession has taught credit unions the importance of liquidity management.

Lesson number one: just because Fed Funds is at zero it doesn't mean rates can't fall further.

During the recent recession we have observed members have taken a more conservative attitude regarding debt and have increased their savings. As a result, our assets have grown tremendously and our loan-to-share ratio has decreased.

Credit unions across Ohio have learned since the economy collapsed in 2008 that it's not a bad thing to be called conservative, said Becky Hart, SVP of advocacy for the Ohio CU League.

The concept of saving money and driving revenue has become part of the fabric of ArrowPointe FCU since the recession.

Steven Sobotta, Director of Marketing at Actors FCU, said belt tightening and alternative income strategies were discussed right before the economy tanked, proving right the old adage that prevention is better than a cure.