ST. PETE BEACH, Fla.– The African-American Credit Union Coalition hosted an inaugural Small Credit Union Summit during its 24th Annual Conference here. The event was for executives at credit unions with less than $100 million in assets.
The AACUC said the session was designed to leave CEOs empowered to tackle running their small credit unions with HR, compliance, lending, board and supervisory governance strategies and best practices.
According to the AACUC, leading experts from within and outside the credit union industry provided fundamental concepts and new ways of thinking to deliver impactful outcomes in the areas of board governance and supervisory committee matters, digital marketing, compliance (people and processes), lending, risk, financials, human resources and recovery solutions.
In addition, the summit was also an opportunity for the NCUA to share “invaluable resources” specifically geared towards small credit unions including training, grants, loans, minority deposit institutions, chartering and field of membership expansion, the organization said.
‘More Intense Support’
“While at an Inclusiv conference in Puerto Rico, mutual members asked for more intense support. Cathie Mahon, president/CEO of Inclusiv, and the Honorable NCUA Chairman Todd Harper agreed to hold a summit to laser focus on small credit unions to ensure their viability and sustainability,” said Renée Sattiewhite, AACUC president/CEO. “By banding together, we felt strongly that we could meet small credit unions where they are and equip them with the tools and connections that would help them overcome their most pressing barriers to success. Small credit unions play a distinct role in the credit union movement, and we believed it was our responsibility to address this gap so that small credit unions could not only survive but thrive.”
The session was predicated on the concept of joining together to solve three compelling problems facing small credit unions, the AACUC said, noting CEOs and board members were able to ask questions and interact with the experts. Those representatives included representatives from CUNA Mutual Group, Inclusiv, NCUA and PRO Found Recovery Solutions.
‘Means So Much’
“I am so thankful for this summit. I feel seen and heard,” said Alexandria Currie, President of FAMU Federal Credit Union in Tallahassee, Fla. “To know that so many people and organizations are invested in the success of small credit unions like mine means so much to me and my peers. We can walk boldly and confidently knowing that the unique communities that we serve – who are often low-income or minority communities – are just as valuable, and meeting their needs is equally as important.”
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