I am won over to credit unions. Even if they don’t always meet their ideals, at least the ideals are explicit and a continual gentle standard to which, in my experience, most sincerely strive. I enjoy reading tinfoiling, by Gene, G.M. of Mt. Lehman Credit Union (near Mission, B.C.). Here’s a guest post from him on why small is beautiful for credit unions:
There are 10 good reasons on why ‘Small is Beautiful’ for credit unions.
- Relationships – smallness dictates that the number of relationships between members, staff and board is manageable for all parties. There is a quality, not quantity, in relationships.
- Communication is quick and inclusive.
- Transparency. There is always an understanding on why things are happening.
- Challenges that are healthy. Being small means you can’t take anything for granted.
- Agility in being able to move and respond quickly to any circumstance.
- Planning that is truly dynamic. You have a plan but you are constantly reviewing and upgrading it based on any and all communication received.
- Teamwork. Everyone can participate in the continuing sense of accomplishment.
- Managing your own destiny. There are market conditions and circumstances beyond anyone’s control but you can steer and manage quickly and precisely. You aren’t a 53 branch credit union so can manage in a much different direction.
- Technology is cheap. If you put the pillars you need in place to use technology as a strategic advantage, today’s hardware prices and work tools have never been cheaper or more powerful. You can build what you need.
- Politics don’t get in the way of accomplishing what needs to be done.
- Members, members, members. They always come first.