HENDERSON, Nev.–Credit unions must understand that change is inevitable and that they cannot become commodities, according to one CEO.
“Change will happen and it’s neither good or bad by itself, it’s how we react to it that matters,” said Joe Thomas, president/CEO of NextMark Credit Union in Virginia during an interview with Susan Mitchell, CEO of Mitchell, Stankovic & Associates and founder of the Underground. “If we build change into our industry DNA, we can have some control over the impact on our members and communities.”
During the interview, Thomas offered two ideas for turning ideas into action:
• Don’t Be a Commodity. “Transactional relationships define you as a commodity. Embrace the credit union mission. Meet the members where they need you.”
• Change is Inevitable. “Change is a process and not an event. Prepare, anticipate and strategize to control its impact on your organization.”
The full chat can be viewed here.