Credit union membership is barely growing. In fact, it’s losing market share to banks and newer types of financial service providers such as ING. And goodness knows what Wal-Mart will do to us!
When was the last time the credit union movement launched a breakthrough, differentiating product or service? Are we dragging traditional thinking around like mules pulling a plow? Is success in our jobs a result of following the rules and carrying out the status quo?
Guess what. We‘re not alone. The Air Force is also hampered by old habits. According to the Washington Post, “Defense Secretary Robert M. Gates chided the U.S. armed forces today for not providing enough intelligence, surveillance and reconnaissance help to troops fighting in Iraq and Afghanistan, saying it has been ‘like pulling teeth’ to get the services to change old habits.”
Robert Gates is pushing The Air Force to change its old habits. Who’s pushing us in the credit union movement to change ours? Our employees? They won’t put their jobs at risk by pushing for change. Our boards? They are rarely futurists. Filene’s i3 group? Will we leave it up to BankAmerica, ING and Wal-Mart to push us to change? And then will we just be reacting?
May 1, 2008 at 6:47 am
I feel that I am right in the middle of this issue. I have been working with Filene for a few months now, yet I come from the frontline management aspect of my CU. Becuase of my unique position I see things that many never know about. As a CU, we are doing an amazing job of serving our membership to a point. We do what we have always done as good as anyone. In our market we can hold our own against any institution.
That being said, we suffer from our “old habits.” Our Board of Directors represent the same membership base that it represented in 1975. The problem is that we have added 100K new members, and 400 something new SEGs. So how much of our membership do they represent?
I am 24 years old. I started working here just as a PT job to get through college at 18. Like most people who will read this blog, I didn’t intend to be in the CU movement. But I am all in now. I can’t imagine doing anything else. I will tell you that it is my presonal initiative to PUSH my CU to change some of those old habits. No, I don’t want to lose my job. Yes we are currently doing things the right way. But, I beleive that the best way to strengthen and enhance the “status quo” is to challenge it. Tactfully and effectivelly. If I don’t, who will…