In 1980, I developed a friendship with an economist at the Federal Bank of Atlanta. When he retired, he did work for the World Council of Credit Unions in Russia and South America. At one point, he told me that American credit unions are relevant, even meaningful in some places. but he went on to say that credit unions in America are not vital to people.
THE 'tude
I was speaking to a group of marketers a few years back about member service as a differentiator, and how to choreograph wow experiences. It was after lunch and my next set of slides was on the Net Promoter Score.
Maybe GAC should no longer be an abbreviation for Governmental Affairs Conference and instead stand for “Go About Complaining.” And then go home.
NAFCU Chair and SRP Federal Credit Union President and CEO Ed Templeton recently testified before the Senate Banking Committee on regulatory relief for credit unions. He said while NAFCU and its member credit unions take safety and soundness extremely seriously, the regulatory pendulum post-crisis has swung too far towards an environment of overregulation that threatens to stifle economic growth– an especially fitting characterization of NCUA’s second risk-based capital proposal.
Jack Welch, the legendary CEO of General Electric had an interesting philosophy regarding employees. He believed that each year you should take the lowest 10% of the performers in the organization and replace them. He thought this strategy would bring the highest performers to GE, while weeding out the weaker ones
The successful initial public offerings of Lending Club and OnDeck continue to reinforce the adoption, scale and economic viability of online lending platforms.
How to train fleas is demonstrated in a one minute video on YouTube that can be found here.
What’s that they say about what’s old being new again? Get ready! CUToday.info, which has grown into the number-one digital source of news, analysis, opinion and whatever “The Spin” is, is celebrating six months of extraordinary growth and online traffic by…publishing a print issue.
The NCUA’s revised Risk-Based Capital rule is dominating the news. While many are rightly focused on this particular rule and its perceived and actual shortcomings, the swell in attention also presents an opportunity to look at the larger picture of regulation and our examining bodies.
To remain competitive, credit unions must have an ever-evolving strategic plan that delivers greater member value across an increasing number of channels. To achieve this goal, several areas must be addressed: enhancing current efficiencies, meeting compliance demands and “keeping up with the Joneses” to make sure other financial institutions vying for your members do not make them their customers.