APIs provide tools and resources to integrate innovation into existing solutions. It seems like every week some new technology—usually software—is launched that’s designed to completely change the financial services industry. With so many new software and other programs available or on the horizon, how will credit unions keep up with these innovations, and get them into the hands of their members, quickly and cost-effectively?
The sun has set on the credit union system. That's what we've heard, anyway. Heck, you've probably even said it yourself. But instead of complaining about it or resigning ourselves to that fate, what if we adjusted the sails?
I actually googled something like that and found this title on the “For Dummies” website. Don’t ask me why. Never ask me why. Now that I have your attention, what I really meant to say is “How to Spice Up Your Credit Union and Rekindle the Mojo.” Really, there will be no sex talk today.
Recently, Ron Shevlin penned another outstanding post on The Financial Brand, this time about measuring marketing effectiveness. Ron lamented that too often marketers find it a “daunting task” to measure their effectiveness. That got me to thinking.
This was probably one of the best Symposiums put on. Why? The venue and weather were great which always helps. There was some people that haven’t been there for awhile so it was good to see them. But it was the speakers. They spoke with such a degree of earnestness, thought and pragmatism.
The 6th annual CU Water Cooler Symposium held in Kansas City on October 1 and 2 has come to a close. Each year, we proclaim it to be the best yet and this year was no exception. Thanks to everyone who attended, to all of our sponsors, to all of guest speakers, to all of our editors and to all of our organizers and volunteers. We couldn't do this without you!
The mission, vision, purpose or (insert your term here) statement at most credit unions includes some verbiage around creating value for members. Read literature about the advantages of credit unions, and you will see the words member-focused or member-owned. Clearly the concepts around value and operating as a cooperative are differentiators.
I am the CEO of the Fourth Corner Credit Union, or as some jokesters call it, the “Pot” Credit Union. I have to chuckle when people refer to the credit union by that name, because it triggers many stereotypes that could not be farther from the truth, for the credit union or for the cannabis and hemp industries.
Amazing things happen when you combine Canada and the United States. Pancakes and maple syrup, bourbon and Canada Dry, Steve Martin and John Candy...
Credit unions have a virtuous desire to create value for their members. So why do their management teams and member elected directors, fixate upon and reward for measures based upon profit extraction from members, instead of value created for members?