By Frank J. Diekmann
We’ve all known the beautiful girl who shies from the camera, insecure that all the other girls are prettier. The gifted leader who dodges leadership assignments, confident everyone else is better. That “great little restaurant” where you can’t get in, but the owner fears the bigger restaurateurs have it all figured out.
Credit unions, meet thyself.
For eight years CO-OP Financial Services’ THINK Conference has moved about the country but it has always been marked by two consistent and related themes:
- Excellent, even world-renowned speakers who bring an outside perspective to an often insular credit union world
- The very same world-renowned speakers all trying to find ways to express their exasperation that credit unions aren’t dominating the financial services world.
Whether it’s the best-selling book authors, the consultants to Fortune 500 companies, the academics whose research has challenged or even altered long-held thinking, or the founders of successful “disruptive” new companies, the truth is that most of the speakers CO-OP brings in completely own their own knowledge silo, but they very seldom know anything about these not-for-profit financial co-ops that have hired them.
The best speakers do their homework on their audience and the “movement” prior to speaking, and almost universally they want to knock those mobile devices out of the hands of everyone holding them and shout, “Why are you asking me for advice? Look at the incredible advantages your have!”
What They Are Saying, Shouting, Screaming!
Last week’s THINK meeting in Colorado Springs, Colo. was no exception; if anything, the word from the stage was even more outspoken. Consider some of these observations and exhortations:
We are drawn to a common flame and that purpose ends up uniting us. What are co-ops all about? They are about an idea we all believe in.—Nilofer Merchant
Is a credit union just a building? Credit unions are so unique and you have such an opportunity to connect people’s social values to their money. –Sara Critchfield
I’m amazed at how little leverage there is with how much information you have. You could do amazing things. –JB Straubel
Credit unions are hip and sexy. –Lisa Gansky
There are 101-million people who give a damn because they own you. How many of them feel they can shape you? How many feel differently about you than a shareholder of a bank? –Ido Leffler
Hey! Wake up! You’ve got everything you need to compete! Millennials love a social connection, to be a part of organizations with values. Millennials! If they were inventing a financial institution from the ground up, they’d invent you. –Impatient Guy
OK, that last one was me. And I’d like to say OK, you get the point, but clearly most credit unions don’t.
It is said to be a gift to see ourselves as others see us. After eight years the message from the outsiders to the insiders is very simply this: open the gift, credit unions, open the gift.
Frank J. Diekmann is Cooperator in Chief at CUToday.info. He can be reached at Frank@CUToday.info.