Yesterday's [Blank] of Tomorrow
Posted by Trey Reeme on July 13th, 2007
A hearty “hear hear” goes to the CU Communicator for saying -
Being a large credit union can have its advantages, but big ships not only have a hard time steering away from icebergs … but also have a harder time steering toward opportunities.
So buck up smaller credit unions, and remember that knowing your member’s needs and designing products to suit them is far more important than asset size.
I’m typing this from the Pittsburgh airport, having just spoken to 75 NCUA examiners who work with small credit unions. “Small” meaning $2 million in assets small.
I can’t tell you how surprised I was that this was the most attentive (and lively) group that I’ve ever addressed. I sensed much concern from these examiners about the long-term survivability of many of the institutions with which they work.
If you ever pass through the Pittsburgh airport, look for signage promoting an exhibit commemorating the airport’s proud distinction as “Yesterday’s Airport of Tomorrow.”
Let us never become known as Yesterday’s [Blank] of Tomorrow. Financial institution, consultant, publisher, web developer, tech company, whatever or whoever you are.
Size, as Jeff writes, is irrelevant – and being small is certainly not an excuse to become Yesterday’s Credit Union of Tomorrow.
Yikes:
Credit Unions – Yesterday’s Bank of Tomorrow
Let’s hope that small credit unions can continue to thrive. Big box stores didn’t wipe out all the little mom and pop shops like everyone had predicted. In fact, I think there are more boutique shops where I live now since the big box stores have come to town. There is a need for the specialized, local offering and always will be. I think Mt. Lehman Credit Union is a prime example of this. The most amazing things can be accomplished with a group that is innovative, small, nimble and focused. Small is beautiful!
I love the “Little” credit union. They are a real life example of sheer determination over dominance. We have a few “Little Guys” that we consult with. These are folks whose entire marketing budget is less than we pay the receptionist.
However, they are the movers, the shakers and the innovators. They make do with the resources they have.
Growing up poor in northern California, you learn how to make do with what you have. $2 in beans and $1.50 in ham hock will feed 4 people for 4 days. We were all healthy, happy and BIG. I’m 6’2” and my “little brother” is 6’9” tall.
The moral is, “It doesnt matter what you’ve got as long as you make the most of it. If you are a little smart and a little lucky, a few beans may give you a lot of growth.”
Ok, so I have small kids, and after reading this inspiring bit, I have a song running through my head from Veggie Tales that says “little guys can do big things too!” I’ll be singing it all day now, thanks. ;)
No, but really, thanks for posting this. It is encouraging. I have been having issues convincing my “little” credit union to do big things. The response I usually get is “we’re not as big as they are.” So, thank you for the little boost.