ANAHEIM, Calif.– “What pisses you off about CUSOs?”
A question that would seem highly unlikely to be asked at a conference of CUSO representatives was in fact deliberately asked just because it is so unlikely to be heard, according to the person who asked it. Sue Mitchell, CEO of Mitchell, Stankovic & Associates, gave attendees at NACUSO’s annual meeting a taste of the “underground collision” movement her firm has been championing in credit unions that seeks to raise discussion around uncomfortable issues.
“We need to start asking some key questions and thinking in terms of what is happening in the future and what questions are you talking about out in the hallway that you’re not hearing on the stage,” said Mitchell. “To be relevant in today’s world we need to ask our leadership to stand up and to stand up for a common purpose. It’s time for us to get real. The Underground was to get us to start thinking and talking about real issues. You were founded to make money and to provide value for members. At a forum we conducted last year we talked about off-balance sheet activity and I asked how many of us talk about that in context of our updates. Most do not. Is that income being put back to use for member value?”
Mitchell told the meeting that the very founding of a credit union required risk, but as the enterprises grew, many have become risk-adverse.
“You were entrepreneurs when you started,” she said. “Many of you are bringing big ideas to the table and you want those ideas funded. How are you collaborating to make that happen? Are you saying to CEOs or as CEOs, ‘Let’s look at our total assets under management, not just the credit union’s assets. That can have enormous implications. CUSOs can have a significant impact on your bottom line and have a significant effect if not managed well and that income goes away.”
A 'Near and Dear' Issue
A subject seldom discussed at credit union meetings that has become “near and dear” to her heart, according to Mitchell, is what she called “social disaster recovery.” That issue became near and dear in the wake of the October 2017 mass shooting at the Harvest Music Festival in Las Vegas, where Mitchell lives, that left 58 people dead.
“We’ve seen things in the last few years things taking place in the United States…—and all six credit unions in Las Vegas responded to members after the mass murder,” said Mitchell. “But then what do we do? Do we offer employee assistance programs? Think in terms of the reality of our society today and the role you play and establish plans for accountability and diversity in our industry.”