Your Federal Quarterly Tax Payments are due April 15th Get Help Now >>

CUES SKYBOX by ProQuest

VIEWS: 9 PAGES: 2

In a recent class of credit union board members, the instructor asked how many in the room knew why their credit unions were created. Less than 10% knew the answer. Member education becomes even more important as the credit union grows. Credit unions are not just financial service providers. They operate on a different business model that not only provides a competitive advantage if it's done right, but that also can help engage members in the organization and provide them a sense of community. The author firmly believes that one of CUs' greatest assets is the cooperative business model.

More Info
									                                                                                   INSIGHTS
                                                                                   “I can see a future where
                                                                                   superior product knowledge,
                                                                                   sound financial advice, and the
                                                                                   willingness and ability to help
                                                                                   borrowers in need could help
        GAIN A WHOLE NEW PERSPECTIVE                                               a community-based fi nancial
                                                                                   institution compete with the
                                                                                   big banks.”


                                                                                   CUES member Bill Vogeney, SVP/chief
ARE YOU LEVERAGING YOUR                                                            lending officer, $2.5 billion Ent, Colorado
COOPERATIVE ADVANTAGE?                                                             Springs, Colo., in the CUES Skybox post,
BY CHRISTOPHER STEVENSON                                                           “Everything I Know About Lending I
                                                                                   Learned From Wii Fit” (at cues.org/
                                 In a recent class of credit union board mem-      skybox in the “Economy” category.
                                 bers, the instructor asked how many in the
                                 room knew why their credit unions were cre-
                                 ates. Less than 10 percent knew the answer.
                                 At the same time, credit union staff and          SITES OF INTEREST
                                 board members lament that no one shows            CUES member Gene Pelham, president/
                                 up for annual meetings or volunteers, and         CEO of Rogue Federal Credit Union,
                                 few new candidates run for the board. If the      Medford, Ore., invites members to Ask
                                 average member doesn’t understand how the         Gene at askgeneatrogue.blogspot.com/.
                                 structure of the credit union is different from
                                 a bank or how their actions directly affect       Arden Clise, marketing manager, is chief
                                 their own bottom line, why would they serve?      blogger for “Let’s get Fiscal” at Group
                                    Member education becomes even more im-         Health Credit Union, Seattle, at
Christopher Stephenson is        portant as the credit union grows. How can        www.ghcublog.org
CUES’ profes
								
To top