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Context for change in CU system

May 1, 2007

When asked for a quote here is what I said for a recent CUCBC publication.

“We can mould a new financial reality for credit union members. We need to be as vigilant with technology implementation as with lending risk. It is imperative that we are aware of the ever unfolding technologies to see how they can be used to better serve our membership. We can continue to exist as small and nimble entitites. Service should be based on trust from knowing our members. You can then manage risks instead of risks managing you. This new financial reality is ever moving and paying attention to the owners who we serve will continue to bode well for all of us.”

There are a tremendous discussions going on now about Web 2.0 and the families of services it has created. Cole Camplese says it best: “I guess that is part of the answer though — people are listening (not thousands) and they are trying to engage. Without us making the time to provide the first conversation starter it wouldn’t be going on. I am becoming more and more amazed at how open and transparent the community I live in is becoming — blogging, sharing photos on Flickr, sharing tags on del.icio.us, and Twittering — all of it is changing the way we interact.

This engagement, this interaction, is creating and changing the way we do things. But will we take the next step? Will we risk changing some core pillars in our institutions? Those that don’t will be left behind.

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