LAS VEGAS—Jim Nussle told credit unions that it’s time more CU staff and volunteers get out of the stands and become players on the field.
The CUNA president and CEO made that request during CUNA’s 2017 America’s Credit Conference, asking CUs to take a more active role in the future of the movement—which he acknowledged could be at risk due to financial services disruption occurring today and what will arrive in the future.
“I am glad you are a fan. But there is a difference between fans and players,” said Nussle. “Some people say the sixth man makes a difference to a team. But we have a unique opportunity to get out of the stands and be a bigger player in this game. That is what we need to make a difference. I need all of you to be on the team.”
Nussle noted that credit unions are making a difference in members’ lives today but that they can make an even bigger difference tomorrow—something needed to build greater loyalty in the fight against financial services upstarts. He pointed to the 300,000 people who work in credit unions.
“That is a big team,” he said, “and when you add in our volunteers and members that becomes a really big team.”
Nussle described many efforts CUNA undertakes to ensure the future of credit unions, including its 360-Degree Advocacy program. But he said, again, those efforts become more effective if everyone within the movement is engaged.
“I am not sure we are all in,” said Nussle, explaining he is uncertain that enough CU employees truly understand what is behind credit unions, and the people helping people philosophy. “But understanding our credit union principles is as important today as it has ever been in our history.”
Nussle said that a strong grasp of CU principles is needed among credit union staff to help spread the word about credit unions throughout their communities.
“Some come to work at credit unions for a paycheck. But we have to turn that paycheck into a cause—a mission,” said Nussle. “If we want to be successful in the future we have to deal with financial services disruption today, because the future relevance of credit unions is in jeopardy.”
Complacency is a big threat to the future of the movement, as well, said Nussle, who reminded what happened to Kodak.
“Did Kodak have a meeting in this room years ago, pat themselves on the back and say we have a great product and company? Did they even think anyone could take a picture without film? Now we don’t even think about film,” he said. “We don’t want to become a footnote in Wikipedia.”
To avoid that, Nussle insisted credit union staff need to embrace and understand the credit union principles so they can explain to consumers in common terms what credit unions are and are about.
“To us, membership means something good for consumers, an advantage over banks. But many people see the word membership as a barrier to being able to join credit unions,” he said.
Nussle also addressed other misperceptions CUNA research shows consumers have regarding credit unions, such as being low-tech financial services providers, and not being very accessible.
“CUNA goes to work today to make sure credit unions remain relevant,” said Nussle, urging attendees to marshal member support. “I am not pessimistic about our future, but I want to be realistic. Even with all that we do in Madison, Washington and in the state leagues, our value proposition is sitting in the chair you occupy and in the seats next to you. You are our value proposition. Get involved in the advocacy army, get involved, we need more players on the field.”