Don't Overreact! Avoid Creating Your Own Economic Downturn

Guest post by Garrison Wynn

Are we doing all we can to weather adifficult economy? In previous articles, I've pointed out that some people fare better than others. A few of us are even defiant in our approach. I recently saw a lady wearing a button that read "I refuse to participate in the recession." I guess that's better than wearing one that says "I've lost the will to live!"

Most of us are doing the best we can, but "the best we can" might not be good enough. We might need to do things better than we can, which means we have to look at how we think, examine what we believe and even get some help.

Do we hunker down, cut back all our expenses, let a few people go, watch the news and prepare for the world to end? Or do we increase our efforts, pinpoint our markets (which means targeting those who actually have money) and make sure our bosses, customers and employees can see our value?

Click here for the full post, including Garrison's Practical Pointers for Surviving a Tough Economy.

Invest in the Future

It’s time to rethink strategies and find innovative solutions to today’s challenges. Seeking ways to maximize the return on how time and money are spent is crucial. Southwest CUNA Management School (SCMS) is an environment where applied knowledge and networking are structured to help students find innovative and sound strategies to help position their credit unions forward.

This is the year to seriously consider enrolling yourself or key staff in SCMS — the place to connect with professionals dedicated to the future, an industry think tank.

- Credit union focused curriculum

- Networking opportunities
- Awesome faculty
- Student participation 

Two innovative credit union communication tools students initiated over the last year:

YouTube Video (Bank vs. CU Novella) - Kudos Alex Rascon, (SCMS Class of 2010 president, GECU)

This blog, CU Grow - Thank you James Robert Lay and Natasha Melugin (SCMS Cl of 2009) for your vision, commitment, heart and passion!

- Opportunity to be part of shaping the future of credit unions!

The school is intense. Less than 80% of a first year class make it to graduation. Successful completion of the school is something to take pride in. A three-year commitment, this summer's session is from July 12-22.

SCMS offers professional and personal development opportunity, providing a strong base for credit union leadership. Take the challenge. Make the commitment. Enroll today!

Shout out from Natasha Melugin at the TCUL Annual Meeting

We found Natasha Melugin, a CU Grow blogger, at the Texas Credit Union League Annual Meeting in Austin, Texas.  She just wanted to give a quick shout out to CU Grow readers. Watch her video below.

Southwest CUNA Management School at TCUL Annual Meeting

We caught up with Janine McBee, a CU Grow blogger, at the Texas Credit Union League Annual Meeting.  She was hanging out with a Southwest CUNA Management School alumni.  Watch the video below to hear what she had to say about her experience.

Video Update - Texas Credit Union League Annual Meeting

We have some video recaps from the first day of the Texas Credit Union League Annual Meeting.  Watch the video below to check and out see what is going on here in Austin, Texas.

Texas Credit Union League Annual Meeting Update

Hello to all! It has been a whirl-wind since rolling into to Austin late last night for the TCUL Annual Meeting.  We were up early this morning hitting up the expo and have met a ton of cool credit union folk.  If you are at the conference, and found our credit union blog by seeing one of our shirts or fliers, shout back at us and leave a comment.  We would love to hear from you and carry on the conversation. 

We will be updating the site with some video snap shots that we shot later in the day.  In addition, we will be blogging some of the breakout sessions tomorrow and getting those up on our credit union blog as soon as we can. 

Finally, I have had some great conversations with some about Twitter.  What is is? Is it worth looking into? Etc.  If we chatted at the conference, or if we didn't 't and you just read our credit union blog, feel free to follow me on Twitter here.

Credit Union Man: Friday Fun and Conference Update

Enjoy some Friday fun from Credit Union Man... giving you an update on our conference travels for the next two weeks. Click here if you missed where we will be next week.

Texas Credit Union League Annual Meeting in Austin

We will be attending the Texas Credit Union League's 75th Annual Meeting in Austin (watch the video below for a fun fact about Austin) happening April 14 - 17.  Just like we did for the CUNA Marketing and Business Development Council Conference, we will be bringing you post session interviews helping you gain knowledge through innovation, communication and collaboration.

Plus, we will be giving at some rockin' CU Grow shirts too.  Watch the video below we put together featuring "The Credit Union Man" (I have no idea where that came from... honestly).

Enjoy and we look foward to seeing you there.  Plus, be sure to follow me on Twitter as I will be keeping you updated if you are unable to make it.

How to Lead with LUV

When I fly Southwest Airlines I can't help but read Spirit Magazine. Even though it is wriiten for an airline, there have been times I actually bring the magazine home (and yes this is permitted). It was no surprise in the recent edition the message from Gary Kelly, CEO of Southwest Airlines, would be timely and at the forefront explaining Southwest's stance through the current economic crisis. Kelly's message parallels the credit union industry in many ways. Kelly states,

One of the sweet agonies of childhood was receiving a large gift of money from a relative. (At the time, $25 was a huge amount.) Like a typical kid, I would immediately begin calculating how many model car kits or (when I was older) eight-track cassettes I could buy. Of course, my parents had their own calculations: the compound interest the money would earn in a savings account. With hindsight, I see their wisdom, which was forged by the Great Depression.

While the country is in better shape than those dark days, we still are in the midst of what experts are calling the worst recession in the last 50 to 75 years. Some household names are already history, and by the time you read this, others may be. Still, in the midst of all this gloom, I feel very, very good about the Southwest Airlines brand and where it is headed.

Of course, no one knows the future, and I will be the first to tell you that no one could have predicted the unusual way this financial crisis erupted last fall. But I can tell you emphatically that Southwest Airlines was prepared for it—just like we were prepared to survive the aftermath of 9/11 and the first Gulf War in 1991. My parents knew that family finances would have their ups and downs, and companies are no different. One of the Cultural legacies that our Founder and Chairman Emeritus Herb Kelleher has given us is to manage during the good times so we can survive the bad times. And in our industry, bad times always come along—especially when you least expect them.

Sound familiar? Yes, the economy is in a bad place but lucklily the credit union industry as a whole is prepared to handle it. As a whole we are at 11% capitol and strong, safe, and prepared to serve our members.

To read Gary Kelly's entire message click on this link Managing for Bad Times

What do you think your credit union can learn from Southwest Airlines? Blog back and tell us!