What are you going to do about it?
14 December 2010
A Question for You.
OK...we know things are broken. We've complained about it. We've criticized this. We've criticized that. We've talked about possible solutions. The key question is this:
12 October 2010
Put Us Out of Business
A few weeks ago, a colleague of mine was co-presenting a talk about emerging technologies in financial services for a large group of credit union executives and volunteers. At one point the discussion turned to PFMs; specifically, how giving members more information about their financial behavior could allow them to reduce spending, enjoy the fruits of thrift, minimize their dependence on high-priced credit, and prevent costly overdraft charges.
During the Q&A session afterward, a credit union CEO asked (paraphrasing), "why on earth would we want to make our members less profitable?"
My colleague's response (again paraphrasing): "if your credit union's success is tied to your members' failure, you may want to rethink your business model."
As much as I liked this response, the fact that this exchange took place is disheartening. How did we get to this place? How did our service organizations morph into disservice organizations?
Contrast that CEO's mindset with Jack Moser, an Ohio drunk driving defense attorney hellbent on putting himself out of business. Moser is one of the area's biggest supporters of initiatives to eliminate the senselessness of driving under the influence, and yearns for the day he has no more clients.
Credit unions seem to have forgotten one of Edward Filene's greatest teachings; that if you offer anything except the best possible products at the best possible prices, you are instituting an unsustainable (and inefficient) business model. In way too many cases we've overspent, overbuilt, and overgrown. We've prioritized our credit unions' net income concerns over those of our members. We are on record fighting against the consumer protections outlined in the CARD Act and the larger financial reform bill.
In many ways we've lost sight of what it is to be a credit union.
I can't help but relate the devolution of credit unions to that of labor unions. (I know this assertion will rub some of you the wrong way, but I'm not shy.) Certainly, there was a time in our nation's history at which labor unions served a very important, and productive, role. Labor conditions for railroad companies and steel mills a hundred years ago were atrocious, and needed to be remedied. Unions fixed those conditions and made sure that workers were safe, fairly compensated, and assured some semblance of work/life balance.
Today, labor unions are at least partially responsible for allowing bad teachers to litter our schools, professional athletes to price most families out of watching them play, the collapse of the U.S. automobile industry, and the shipment of millions of jobs overseas. This wasn't the goal, of course. It's simply a display of what happens when good intentions get pushed aside by greed. At some point, it would have been nice if unions would have decided, "We did it! Our mission has been accomplished. Let's have a beer and reconvene if and only if we're needed."
Credit unions should be working to put themselves out of business too. Our goal should be to make sure that consumers have access to affordable credit for provident and productive purposes, while understanding (and demonstrating that understanding) the importance of thrift. Instead, we're fascinated with growth, net income, power structures, competition with one another, and a childish "banks are evil, credit unions are saints" mentality. Competition is healthy. But our supply far exceeds the demand for our services. This, in many ways, is due to our success. In many ways we've succeeded.
In many more, we've failed.
If we truly are different as a movement, we should move mountains so that some day we can all call it quits.
During the Q&A session afterward, a credit union CEO asked (paraphrasing), "why on earth would we want to make our members less profitable?"
My colleague's response (again paraphrasing): "if your credit union's success is tied to your members' failure, you may want to rethink your business model."
As much as I liked this response, the fact that this exchange took place is disheartening. How did we get to this place? How did our service organizations morph into disservice organizations?
Contrast that CEO's mindset with Jack Moser, an Ohio drunk driving defense attorney hellbent on putting himself out of business. Moser is one of the area's biggest supporters of initiatives to eliminate the senselessness of driving under the influence, and yearns for the day he has no more clients.
Credit unions seem to have forgotten one of Edward Filene's greatest teachings; that if you offer anything except the best possible products at the best possible prices, you are instituting an unsustainable (and inefficient) business model. In way too many cases we've overspent, overbuilt, and overgrown. We've prioritized our credit unions' net income concerns over those of our members. We are on record fighting against the consumer protections outlined in the CARD Act and the larger financial reform bill.
In many ways we've lost sight of what it is to be a credit union.
I can't help but relate the devolution of credit unions to that of labor unions. (I know this assertion will rub some of you the wrong way, but I'm not shy.) Certainly, there was a time in our nation's history at which labor unions served a very important, and productive, role. Labor conditions for railroad companies and steel mills a hundred years ago were atrocious, and needed to be remedied. Unions fixed those conditions and made sure that workers were safe, fairly compensated, and assured some semblance of work/life balance.
Today, labor unions are at least partially responsible for allowing bad teachers to litter our schools, professional athletes to price most families out of watching them play, the collapse of the U.S. automobile industry, and the shipment of millions of jobs overseas. This wasn't the goal, of course. It's simply a display of what happens when good intentions get pushed aside by greed. At some point, it would have been nice if unions would have decided, "We did it! Our mission has been accomplished. Let's have a beer and reconvene if and only if we're needed."
Credit unions should be working to put themselves out of business too. Our goal should be to make sure that consumers have access to affordable credit for provident and productive purposes, while understanding (and demonstrating that understanding) the importance of thrift. Instead, we're fascinated with growth, net income, power structures, competition with one another, and a childish "banks are evil, credit unions are saints" mentality. Competition is healthy. But our supply far exceeds the demand for our services. This, in many ways, is due to our success. In many ways we've succeeded.
In many more, we've failed.
If we truly are different as a movement, we should move mountains so that some day we can all call it quits.
24 September 2010
An Old Flame Gets Me Excited...About Credit Scores
I received an email from an old flame a few weeks ago that really got me excited. "Umm...Matt," I'm sure you're thinking. "Your wife may be reading this blog. Perhaps there's a better venue for this post?"
If so, that's an excellent observation...save these two important points: 1) There's a better chance of me wearing a Lady Gaga meat dress than my wife reading my blog; and 2) The old flame I'm referring to is the company CreditKarma.
Several years ago, OpenSourceCU brought my attention to an internet startup company called CreditKarma. The site was great, offering free credit scores to consumers within minutes of signing up. You also received a ton of tools to help you understand what your score means, how it compares to your peers, and how you can improve upon it. The catch was really no catch at all. Based on your credit score, CreditKarma displayed affiliate financial services advertisements for which you qualified.
Theretofore, it had always frustrated me that credit scores, which were so vital to consumers' financial lives, were so hard (and expensive) to get and understand. I loved CreditKarma, and wanted my credit union to embrace it. Alas, it was extremely difficult to make the case that sending members to a site that cross sells competitor products and services was a brilliant business move for our credit union (I still argue that it's our duty as credit unions to get this information to members as affordably as possible, that we should want our members to get the best deal possible no matter who it's from, and that this model works for Progessive Insurance...but I wasn't going to win that argument.)
That's why I was so excited about CreditKarma's email. After spending some time kicking the tires of their new white label service, and talking with CreditKarma staff, I think it's time for credit unions to give them another look.
Here's why:
If credit unions want to remain competitive in an evolving marketplace, we need to do a better job of seeking out innovative services. This doesn't mean purchasing every new idea that comes along (or any of them), it simply means exploring them, evaluating their impact on your members, and deciding whether or not there's a business case for your credit union to adopt them.
(Personal note: I don't do paid product reviews on this blog. Never have, and never will. I wrote about CreditKarma because I like the service, and believe it can help credit unions.)
If so, that's an excellent observation...save these two important points: 1) There's a better chance of me wearing a Lady Gaga meat dress than my wife reading my blog; and 2) The old flame I'm referring to is the company CreditKarma.
Several years ago, OpenSourceCU brought my attention to an internet startup company called CreditKarma. The site was great, offering free credit scores to consumers within minutes of signing up. You also received a ton of tools to help you understand what your score means, how it compares to your peers, and how you can improve upon it. The catch was really no catch at all. Based on your credit score, CreditKarma displayed affiliate financial services advertisements for which you qualified.
Theretofore, it had always frustrated me that credit scores, which were so vital to consumers' financial lives, were so hard (and expensive) to get and understand. I loved CreditKarma, and wanted my credit union to embrace it. Alas, it was extremely difficult to make the case that sending members to a site that cross sells competitor products and services was a brilliant business move for our credit union (I still argue that it's our duty as credit unions to get this information to members as affordably as possible, that we should want our members to get the best deal possible no matter who it's from, and that this model works for Progessive Insurance...but I wasn't going to win that argument.)
That's why I was so excited about CreditKarma's email. After spending some time kicking the tires of their new white label service, and talking with CreditKarma staff, I think it's time for credit unions to give them another look.
Here's why:
- They've grown. CreditKarma now serves over 2 million members. Credit unions can display ads with either CPM or CPC pricing basis to market to members and potential members based on zip code, credit score, and other data. Until credit unions embrace this service, these 2 million members will see only ads from big banks. Now is a great time for credit unions to compete for their business.
- They're all yours. With the launch of their new while label offering, credit unions are able to provide members with credit score information, various credit score analyses, and targeted offers based on credit worthiness without directing them to competing services.
- They can help you create a stronger borrower base. The quality of your loan portfolio depends on helping members improve their scores. It's always bothered me when credit unions spend more time and effort trying to attract new members than they do developing and deepening their relationships with existing members. You could spend a fortune marketing outside your credit union to attract high quality borrowers. I'd suggest that spending those dollars on improving members' credit profiles makes more sense.
If credit unions want to remain competitive in an evolving marketplace, we need to do a better job of seeking out innovative services. This doesn't mean purchasing every new idea that comes along (or any of them), it simply means exploring them, evaluating their impact on your members, and deciding whether or not there's a business case for your credit union to adopt them.
(Personal note: I don't do paid product reviews on this blog. Never have, and never will. I wrote about CreditKarma because I like the service, and believe it can help credit unions.)
21 September 2010
Credit Unions, Circa 2010
"When a man walks into a room he brings his whole life with him. He has a million reasons for being anywhere -- just ask him. If you listen he’ll tell you how he got there, how he forgot where he was going, and then he woke up. If you listen he’ll tell you about the time he thought he was an angel and dreamt of being perfect. And then he’ll smile with wisdom, content that he realized the world isn’t perfect. We’re flawed because we want so much more. We’re ruined because we get these things and wish for what we had."
- Don Draper, Mad Men (Season 4, Episode 8)
09 September 2010
DefaultCase Follow-Up
Last week I wrote about a seemingly too good to be true offer from DefaultCase for 1-cent iPhone Cases. I promised a follow-up, and am pleased to report that the deal was legit.
Today I received the first part of my order, a blue iPhone 4 case. It's actually a pretty nice case. I'll never understand why any of the iPhone cases you see at AT&T and the Apple Store cost $30-$35, but I guess as long as people keep paying for them... The case I received from DefaultCase is every bit as nice as some of the cases you find in other retail establishments. It fits my phone tightly, feels good in my hand, and seems pretty durable.
Is it worth the $35 list price? That's a tough one. But, again, I think all cases are over-priced. If DefaultCase could find it in their hearts to price these in the $15-$20 range, I think they'd find a huge market ready and willing to buy from them.
My favorite part of the package (aside from the fact that DefaultCase proved to me that sometimes really good deals are legit), was the letter that was included. I love their personality, their openness, and humor. See for yourself:
Also, here are some images of the case itself:
Today I received the first part of my order, a blue iPhone 4 case. It's actually a pretty nice case. I'll never understand why any of the iPhone cases you see at AT&T and the Apple Store cost $30-$35, but I guess as long as people keep paying for them... The case I received from DefaultCase is every bit as nice as some of the cases you find in other retail establishments. It fits my phone tightly, feels good in my hand, and seems pretty durable.
Is it worth the $35 list price? That's a tough one. But, again, I think all cases are over-priced. If DefaultCase could find it in their hearts to price these in the $15-$20 range, I think they'd find a huge market ready and willing to buy from them.
My favorite part of the package (aside from the fact that DefaultCase proved to me that sometimes really good deals are legit), was the letter that was included. I love their personality, their openness, and humor. See for yourself:
Also, here are some images of the case itself:
02 September 2010
An iPhone 4 Sucker's Experience with DefaultCase
Because I'm a sucker, I bought an iPhone 4. Because I bought an iPhone 4, I hang up on people all the time. It's embarrassing.
It was especially embarrassing last week when I hung up on a webinar I was hosting for CUES.
Now, because I'm a sucker I continue to think that, even though AT&T's network is terrible and the iPhone 4 is fatally flawed, I can still fix this situation. I've changed the way I hold it. No luck. I've used a bumper. No dice. Undeterred, I keep looking for a wonder case that will fix my phone's ills.
And because I'm a sucker, I responded tonight to a web ad for one-cent iPhone 4 cases from a company called DefaultCase. Regular price: $34.99. My price: $0.01.
Am I an idiot?!?!
(Don't answer that.)
I should be too embarrassed to tell you all about this. I mean, if it's too good to be true, it usually is. And the jury is still out about this one, too. But I want this tactic to be legitimate so badly.
Here's why.
The site makes no secret that they are trying to build their brand, get people to use their product, and encourage customers getting this deal to tell their friends about it. They offer a "Share" link that allows you to tell all of your Facebook friends about the great deal you got. This, of course, is not a unique tactic. But, get this. They don't force you to share the information. It's up to you.
Interesting.
Then, I get the following email:
Don't go to the site to buy these cases until I tell you how this thing turns out. BUT...if this is legit, I love them and their style. And if this is legit, it's one of the best examples of humanizing a brand, living transparency, and being remarkable I've seen in years.
It was especially embarrassing last week when I hung up on a webinar I was hosting for CUES.
Now, because I'm a sucker I continue to think that, even though AT&T's network is terrible and the iPhone 4 is fatally flawed, I can still fix this situation. I've changed the way I hold it. No luck. I've used a bumper. No dice. Undeterred, I keep looking for a wonder case that will fix my phone's ills.
And because I'm a sucker, I responded tonight to a web ad for one-cent iPhone 4 cases from a company called DefaultCase. Regular price: $34.99. My price: $0.01.
Am I an idiot?!?!
(Don't answer that.)
I should be too embarrassed to tell you all about this. I mean, if it's too good to be true, it usually is. And the jury is still out about this one, too. But I want this tactic to be legitimate so badly.
Here's why.
The site makes no secret that they are trying to build their brand, get people to use their product, and encourage customers getting this deal to tell their friends about it. They offer a "Share" link that allows you to tell all of your Facebook friends about the great deal you got. This, of course, is not a unique tactic. But, get this. They don't force you to share the information. It's up to you.
Interesting.
Then, I get the following email:
Don't go to the site to buy these cases until I tell you how this thing turns out. BUT...if this is legit, I love them and their style. And if this is legit, it's one of the best examples of humanizing a brand, living transparency, and being remarkable I've seen in years.
10 August 2010
My Friend's New Blog
If you know her, you love her. If you don't know her, you should.
Kelley Parks just launched her new blog today. Please check it out...she's doing great things for credit unions at her firm, Giraph.
http://giraphcu.wordpress.com/
Kelley Parks just launched her new blog today. Please check it out...she's doing great things for credit unions at her firm, Giraph.
http://giraphcu.wordpress.com/
06 August 2010
What If We Used Paint?
Sometimes it feels like we're drawing with chalk. You can draw with chalk, don't get me wrong. It's a fine medium for certain applications. But make no mistake, that's definitely what we're doing.
We're drawing with chalk.
Messy.
Clunky.
Inefficient.
Temporary.
Chalk.
It's certainly not the most likely tool a professional artist would use to create her life's crowning artistic achievement.
We try, nonetheless. Sometimes successfully. Sometimes not. Sometimes criticizing each other for holding the chalk incorrectly. For using the wrong colors. For not sharing.
Even when we create amazing works of art, deep down inside we know all too well that the sidewalk is only so big. That rain clouds could come any minute. That our co-creators may have a different, or competing, vision. That our success is fleeting.
We draw with chalk because that's what we know. Because it's from the earth. Because it feels right. Because of the dinosaur bones that made it all possible. Because it's the way we've always done it.
What if we used paint?
Bottle caps?
Rubber bands?
Would our art be less artistic?
We're drawing with chalk.
Messy.
Clunky.
Inefficient.
Temporary.
Chalk.
It's certainly not the most likely tool a professional artist would use to create her life's crowning artistic achievement.
We try, nonetheless. Sometimes successfully. Sometimes not. Sometimes criticizing each other for holding the chalk incorrectly. For using the wrong colors. For not sharing.
Even when we create amazing works of art, deep down inside we know all too well that the sidewalk is only so big. That rain clouds could come any minute. That our co-creators may have a different, or competing, vision. That our success is fleeting.
We draw with chalk because that's what we know. Because it's from the earth. Because it feels right. Because of the dinosaur bones that made it all possible. Because it's the way we've always done it.
What if we used paint?
Bottle caps?
Rubber bands?
Would our art be less artistic?
03 August 2010
Tim Filene's Job Hunt Experience
Marketing Assistant - Posted August 1, 2010
ABC123 Credit Union is looking for a highly-seasoned Marketing Assistant in its fast-paced, extremely demanding Business Development department. The successful candidate will have a Bachelor's Degree in Business, Journalism, Accounting, Economics, or Ornithology with an MBA or PhD highly desirable, as well as 7-10 years of progressively responsible leadership experience in a marketing role. Must possess superior copy-writing, public speaking, creative, interpersonal, and analytical skills. Mastery of SQL, C#, HTML, PHP, MCIF, BSA, OFX, OFAC, and LOL also expected. Demonstrated community involvement is a must, as is proof of successful appointments/elections to state or federal government agencies. Bilingual or trilingual applicants are strongly desired.
Job Duties
Perquisites
___________________________________________________________
August 2, 2010
Dear Ms. Anderson:
Few things in my life have given me more pleasure than seeing ABC123's listing for an open Marketing Assistant position. My great grandfather was the late Edward Filene, widely credited as being the father of the American credit union system. It should be no surprise, I know, that credit unions caught my attention at an early age.
By the age of 9, I had organized my first not-for-profit financial cooperative, which has now blossomed into the $3 billion BMFCU in Leota, Indiana. Mother made me leave the credit union six years later because I received the lowest test score in my life: a 94% in 9th grade Geometry. Clearly, I had proven myself to be unable at that point to balance my academic life with running a large financial institution, while fulfilling my duties as Governor of the Hoosier state.
As usual, Mother was right. Stepping down from my role as President/CEO of BMFCU, I was able to focus on, and thrive with, my studies. I graduated after my 10th grade year to attend Yale, where I triple majored in Journalism, Business Administration, and Ornithology. An internship my sophomore year with IDEO got me interested in expanding my horizons to more creative outlets. So, with three undergraduate degrees under my belt the following semester, I turned down a Rhodes Scholarship in favor of admission to Cooper Union's famed art school. Thankfully, I was able to master the requirements of their BFA program while earning my MBA at nearby NYU.
Echoes of my father's voice telling me "reading and learning don't mean a thing if you don't do something with that knowledge" were inescapable, so I decided to help my good pal Mark Zuckerberg get a little project he called "Facebook" off the ground. I learned everything there was to know about PHP, C#, HTML, SQL, and more...Mark insisted on it. What's better, the elementary nature of this initiative gave me plenty of time to start refocusing on the credit union movement that I so dearly love. In my spare time, I taught myself German, Spanish, and Mandarin Chinese just in case a credit union somewhere may need multilingual help.
In 2006, I rejoined BMFCU to put all of my education to use. I was named President/CEO, but demoted myself to Marketing Assistant so I could understand how that function worked within our organizational structure. This was a good move. My experience allowed me to make the department run more efficiently, saving the credit union $487,000 in that year alone. Pleased with those results, I promoted myself to CMO. Under my leadership, we averaged 78% annual membership growth from 2007-2010. Even better, our return on average assets improved from a respectable 3.1% to a whopping 6.7% during that period.
These last six years have been amazingly productive for my self actualization needs, but I have found myself yearning for another opportunity to help a credit union from the Marketing Assistant position. I trust that you will find the attached resume meets the qualifications for your opening quite well. The enclosed references (Debbie Matz, Dan Mica, Barack Obama, Chuck Norris, and Gene Blishen) will also attest to my ability to perform the functions you have spelled out. I also took the trouble of flying to Johns Hopkins University Hospital to submit to four separate urine analysis tests. The results should have been shipped to you already via FedEx overnight delivery.
Please allow me the pleasure of setting up a time during which we can further discuss how ABC123 and I may help one another maximize our potential.
Sincerely,
Tim Filene
Enclosures
___________________________________________________________
August 3, 2010
Mr. Filene:
Thank you for your interest in ABC123's Marketing Assistant position. Unfortunately, our job description clearly calls for "7-10 years of progressively responsible leadership experience in a marketing role."
We will keep your resume on file for the next six months in case a suitable position opens up.
Sincerely,
Lucy Anderson
HR Generalist
ABC123 Credit Union
ABC123 Credit Union is looking for a highly-seasoned Marketing Assistant in its fast-paced, extremely demanding Business Development department. The successful candidate will have a Bachelor's Degree in Business, Journalism, Accounting, Economics, or Ornithology with an MBA or PhD highly desirable, as well as 7-10 years of progressively responsible leadership experience in a marketing role. Must possess superior copy-writing, public speaking, creative, interpersonal, and analytical skills. Mastery of SQL, C#, HTML, PHP, MCIF, BSA, OFX, OFAC, and LOL also expected. Demonstrated community involvement is a must, as is proof of successful appointments/elections to state or federal government agencies. Bilingual or trilingual applicants are strongly desired.
Job Duties
- Assist with the creation and implementation of all marketing initiatives
- Answer the telephone when vendors call
- Make paper copies of things that should be delivered electronically
- Other duties as assigned
Perquisites
- Excellent Benefits
- 401K Plan
- Salary Up to $25,000 (Based on Experience)
- Business Casual Workplace
- Exciting Growth Potential
___________________________________________________________
August 2, 2010
Dear Ms. Anderson:
Few things in my life have given me more pleasure than seeing ABC123's listing for an open Marketing Assistant position. My great grandfather was the late Edward Filene, widely credited as being the father of the American credit union system. It should be no surprise, I know, that credit unions caught my attention at an early age.
By the age of 9, I had organized my first not-for-profit financial cooperative, which has now blossomed into the $3 billion BMFCU in Leota, Indiana. Mother made me leave the credit union six years later because I received the lowest test score in my life: a 94% in 9th grade Geometry. Clearly, I had proven myself to be unable at that point to balance my academic life with running a large financial institution, while fulfilling my duties as Governor of the Hoosier state.
As usual, Mother was right. Stepping down from my role as President/CEO of BMFCU, I was able to focus on, and thrive with, my studies. I graduated after my 10th grade year to attend Yale, where I triple majored in Journalism, Business Administration, and Ornithology. An internship my sophomore year with IDEO got me interested in expanding my horizons to more creative outlets. So, with three undergraduate degrees under my belt the following semester, I turned down a Rhodes Scholarship in favor of admission to Cooper Union's famed art school. Thankfully, I was able to master the requirements of their BFA program while earning my MBA at nearby NYU.
Echoes of my father's voice telling me "reading and learning don't mean a thing if you don't do something with that knowledge" were inescapable, so I decided to help my good pal Mark Zuckerberg get a little project he called "Facebook" off the ground. I learned everything there was to know about PHP, C#, HTML, SQL, and more...Mark insisted on it. What's better, the elementary nature of this initiative gave me plenty of time to start refocusing on the credit union movement that I so dearly love. In my spare time, I taught myself German, Spanish, and Mandarin Chinese just in case a credit union somewhere may need multilingual help.
In 2006, I rejoined BMFCU to put all of my education to use. I was named President/CEO, but demoted myself to Marketing Assistant so I could understand how that function worked within our organizational structure. This was a good move. My experience allowed me to make the department run more efficiently, saving the credit union $487,000 in that year alone. Pleased with those results, I promoted myself to CMO. Under my leadership, we averaged 78% annual membership growth from 2007-2010. Even better, our return on average assets improved from a respectable 3.1% to a whopping 6.7% during that period.
These last six years have been amazingly productive for my self actualization needs, but I have found myself yearning for another opportunity to help a credit union from the Marketing Assistant position. I trust that you will find the attached resume meets the qualifications for your opening quite well. The enclosed references (Debbie Matz, Dan Mica, Barack Obama, Chuck Norris, and Gene Blishen) will also attest to my ability to perform the functions you have spelled out. I also took the trouble of flying to Johns Hopkins University Hospital to submit to four separate urine analysis tests. The results should have been shipped to you already via FedEx overnight delivery.
Please allow me the pleasure of setting up a time during which we can further discuss how ABC123 and I may help one another maximize our potential.
Sincerely,
Tim Filene
Enclosures
___________________________________________________________
August 3, 2010
Mr. Filene:
Thank you for your interest in ABC123's Marketing Assistant position. Unfortunately, our job description clearly calls for "7-10 years of progressively responsible leadership experience in a marketing role."
We will keep your resume on file for the next six months in case a suitable position opens up.
Sincerely,
Lucy Anderson
HR Generalist
ABC123 Credit Union
16 July 2010
Reasons
There is a reason you keep working for credit unions.
That reason has changed with time, no doubt. But there's a reason.
The people who I love working with, and for, in the movement have reasons that sound a lot like these:
"I believe in what we stand for." Or "I like helping people." Or "I want to make a difference." Or "this is fun!"
This group could help consumers from any desk, laptop, or setting in any industry. This group measures success in terms of impact, not in accountant speak. This group doesn't need credit unions. Credit unions need them.
There are other reasons people work for credit unions. Their reasons sound different. Their reasons are sprinkled with descriptors like "trapped," "stuck," "scared," "it's all I know," "the job market" and "I'm the [fill in leadership position of your choice], for crying out loud."
This group has seen new ideas fail, knows how hard change is, and fights like the dickens to avoid it. This group is toxic and all around us.
My reason for working for credit unions has changed dramatically over the years. "I don't know what all of this credit union stuff is, but this job description sounds like fun" quickly turned into "I believe in what we do." Later, my new "I want to make a difference" reason morphed into "I can make a difference."
I think I have a new reason.
Over the past several years, many amazing opportunities have presented themselves to me. In some cases, I created those opportunities with hard work, sacrifices in my personal life, and a naive insistence that I matter. In many other cases, serendipity gets the credit. Still, the major source of opportunity in my career has been the belief others have placed in me.
My latest opportunity was being able to attend the 1 Conference with the Crash the 1 group. The reasons these young adults "crashed" varied, I'd imagine. They came from all over the globe from credit unions large and small. They came from many different disciplines, education levels, and experience. Most important of all, however, was another attribute they brought: naiveté.
I think this struck me the hardest when I heard Tim McAlpine and Gene Blishen close the Crash event. Gene, after all of these years, is still naive enough to think small credit unions can do huge things. Tim is still naive enough to think he can create a youth movement that will add 1,000,000 members to credit unions in his career. They're not just naive...they're right.
The optimism of some of my favorite people in credit unions has been poisoned by cynicism. The lumps of the last several years have jaded even the most impervious credit union spirits. The same folks that used to ask "why can't we?" are telling each other why "that can't be done." The regulatory and economic environment has created a leadership crisis.
The reason I keep working for credit unions is because I don't want to grow up. The people that believe in me haven't provided me opportunity because of experience, or title, or politics. They've given me opportunity because they think I'm crazy and naive enough to do something with it.
"Crashing" has nothing to do with entitlement, or instant gratification, or unfair opportunity. Rather, Crash is a reminder to the old guard that what we need more than anything right now is inexperience, energy, optimism, and a self-assured belief that maybe, just maybe, we can change for the better.
What is the reason you keep working for credit unions?
That reason has changed with time, no doubt. But there's a reason.
The people who I love working with, and for, in the movement have reasons that sound a lot like these:
"I believe in what we stand for." Or "I like helping people." Or "I want to make a difference." Or "this is fun!"
This group could help consumers from any desk, laptop, or setting in any industry. This group measures success in terms of impact, not in accountant speak. This group doesn't need credit unions. Credit unions need them.
There are other reasons people work for credit unions. Their reasons sound different. Their reasons are sprinkled with descriptors like "trapped," "stuck," "scared," "it's all I know," "the job market" and "I'm the [fill in leadership position of your choice], for crying out loud."
This group has seen new ideas fail, knows how hard change is, and fights like the dickens to avoid it. This group is toxic and all around us.
My reason for working for credit unions has changed dramatically over the years. "I don't know what all of this credit union stuff is, but this job description sounds like fun" quickly turned into "I believe in what we do." Later, my new "I want to make a difference" reason morphed into "I can make a difference."
I think I have a new reason.
Over the past several years, many amazing opportunities have presented themselves to me. In some cases, I created those opportunities with hard work, sacrifices in my personal life, and a naive insistence that I matter. In many other cases, serendipity gets the credit. Still, the major source of opportunity in my career has been the belief others have placed in me.
My latest opportunity was being able to attend the 1 Conference with the Crash the 1 group. The reasons these young adults "crashed" varied, I'd imagine. They came from all over the globe from credit unions large and small. They came from many different disciplines, education levels, and experience. Most important of all, however, was another attribute they brought: naiveté.
I think this struck me the hardest when I heard Tim McAlpine and Gene Blishen close the Crash event. Gene, after all of these years, is still naive enough to think small credit unions can do huge things. Tim is still naive enough to think he can create a youth movement that will add 1,000,000 members to credit unions in his career. They're not just naive...they're right.
The optimism of some of my favorite people in credit unions has been poisoned by cynicism. The lumps of the last several years have jaded even the most impervious credit union spirits. The same folks that used to ask "why can't we?" are telling each other why "that can't be done." The regulatory and economic environment has created a leadership crisis.
The reason I keep working for credit unions is because I don't want to grow up. The people that believe in me haven't provided me opportunity because of experience, or title, or politics. They've given me opportunity because they think I'm crazy and naive enough to do something with it.
"Crashing" has nothing to do with entitlement, or instant gratification, or unfair opportunity. Rather, Crash is a reminder to the old guard that what we need more than anything right now is inexperience, energy, optimism, and a self-assured belief that maybe, just maybe, we can change for the better.
What is the reason you keep working for credit unions?
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