CHICAGO–Credit union leaders from across the country wasted little time offering their views on the kinds of resources they are (sometimes desperately) seeking.
In early July, CUToday.info asked credit union leaders, especially at the small and medium-size CUs that have lagged larger credit unions when it comes to growth–about their interest in a highly-focused, very affordable, nuts-and-bolts conference that is designed for credit unions that do not have a merger listed as their primary growth strategy, but instead want to exist for the longer term by growing and serving members.
And then we asked for feedback from credit unions—and readers really delivered.
As CUToday.info proposed, the meeting would be aimed at mid-size CUs with a program built around a core of specific growth areas at which many CUs have indicated (and the data show) they need to improve. These practical learning and growth sessions would be led by credit unions that are peer group leaders in each respective category who will share their strategies, what they did, and how they made it work.
You can find more details on what is being proposed here.
Just Some of The Feedback
As CUToday.info continues to review all the input and make a decision on whether there is sufficient support to host the event, here is just a little bit of what leaders in the CU community had to say:
- “We are a small to mid-size CU and feel the pressure every single day of trying to balance services, growing regulation, and expenses…I read the trades and see that most of the billion-plus-dollar credit unions get their leadership teams from banks, so the M & A mentality existing today is understandable; even if not enjoyed. But, to answer your question, I’d be interested in a nuts and bolts conference.”
- “It is certainly getting tough for smaller CUs to compete. They are lacking in a lot of key competencies that I am not sure their revenue levels can support. Sharing among themselves could help a great deal.”
- “I think it’s a great idea. Many mid-size CU’s are unable to attend events yet they have so much to offer.”
- “I can say from a small credit union ($50 million) with solid growth that you are right on target. Keep costs as low as possible. I do not need to hear from celebrities, I need items I can implement now and the two-day event is awesome.”
- “It is so hard!! I wear many hats – compliance, security, CFO, CEO, BSA, HRD, collector, marketing manager, and many others. I work way more than 40 hours and most weekends. I can hardly go on vacation because I have no one to do my job when I am out. I could use some advice on how to survive. We care about our members – I know everyone says they are like family, but they truly are. My members are hardworking, less than paycheck to paycheck people. I worry what will happen to them if we merge with another credit union.”
- “I love the idea of a mid-size CU meeting! There is always talk about collaborating, but nothing gets done. Maybe this is what we need to get moving.”
- “Just read the CUToday.info article requesting feedback on a ‘Getting back to Basics’ conference for small to midsize CU’s and had to make myself late to a meeting to share you hit the nail on the head! AWESOME!!!!!”
- “SPOT ON. I am, and I know of many other CEO’s that are in agreement with where you’re trying to go with this conference. I would very much like to contribute and attend…We are $96-million and have no current blueprints that show/entertain the idea of merger. But we need help. Not only to survive, but thrive and be relevant.”
“The feedback from readers and leaders in the credit union community was invigorating to receive, but also difficult at times to read, given how poignant many of the stories shared were. It’s obvious how many credit union leaders, their voices usually unheard, care about their credit unions and their members,” said CUToday.info Cooperator in Chief Frank J. Diekmann. “That there is a need for a collaborative, practical, focused event for small and medium-size credit unions is not in doubt. We are continuing to evaluate how we can make such a low-cost event available to credit unions that want to continue to exist and serve their communities.”
Areas of Concentration
In their feedback to CUToday.info, readers agreed with the discussion topics identified that the proposed meeting would focus on: Those include:
- New membership growth/effective onboarding (especially in a mobile market)
- Building walletshare among current members
- Employee onboarding/training/culture
- Lending/sales
- Non-interest income
- Efficiencies/vendor management/cost management
CUToday.info Wants to Hear from You
Diekmann emphasized that he and CUToday.info continue to seek input from credit union leaders on whether such a meeting appeals to them, what they would like to see addressed, and whether they would attend if prices for both the program and hotel could be kept as reasonable as possible.
Share your feedback with Diekmann at Frank@CUToday.info.