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Do you have talented staff under the age of 30? Are you looking for opportunities to hone and develop their leadership skills? The Texas Credit Union Foundation (TCUF) and Southwest CUNA Management School (SCMS) have joined forces to invest in the future of the credit union system through the SCMS C2C Scholarship – Connect to Collaborate!
The Scholarship? Up to $2,899 (tuition for 2010 SCMS summer session) – The full amount of tuition paid by the student’s credit union will be reimbursed for one student though the TCUF SCMS C2C scholarship. Odds are better than 1 in 55 to win! At the end of the 1st year session of SCMS, the student’s classmates will vote on who exhibited the most leadership on campus. Simple majority wins. In the event of a tie, the scholarship will be split. We will announce the winner during the July 21 graduation ceremonies.
Who is eligible? Credit union professionals under the age of 30 as of August 1, 2010 who are enrolled in the July 2010 first year SCMS session. The credit union must be affiliated with their state league. Enrollment closes at 55 students.
What’s in it for the student?
Connect - opportunity to network and learn side by side with current and future credit union leaders and the school's highly acclaimed faculty.
Collaborate - peer to peer mentoring.
Added value for the 1st year students under the age of 30 - a special leadership packet – top secret contents! - additional bonus opportunities are in the works, like an invite to join 2nd year faculty member, marketing and branding expert, Mark Arnold, for lunch on campus. - VIP seating with industry leaders during graduation.
What’s in it for the credit union?
Connect your rising leaders to a phenomenal credit union network.
Collaborate with your student(s) as work is done to create a strategic business plan for your credit union.
To encourage and mentor up and coming credit union leaders, SCMS C2C will also hold a casual chat for all SCMS students and alumni under the age of 30 on July 20 after the annual alumni/student auction dinner. Watch www.scms.coop additional details. Wait until you see who is coming to campus to spend time with this group!
I don't know about you, but I am surrounded by books I plan
to read. Great books sit waiting to provide aha moments, challenge my thinking,
or to provide much needed escapes. Gifts waiting to be opened and explored, they
look at me wide-eyed as if to ask which book will I devour next?
I have collected a number of business books in the last year
that all seem more than worthy to spend quality time with. Yet, before I open any
of the books, another one lands on my radar and finds it way home. My list of
recommended books continues to grow. I trust the sources. They must be good reads.
Right?
And yes, I must confess, I’m a cycler. No, Lance Armstrong
doesn’t need to be worried that I might be a hidden threat. For as long as I
can remember, I’ve cycled between fiction and non-fiction reading. Lately I’ve
been reading historical fiction. The books have taken me on great adventures
back in time and broadened my perspectives.
Was my recent escape to fiction driven by guilt that when I
got bogged down reading “Einstein”? A trusted friend recommended the book. I
know she would not do that lightly. Yet half way through I laid it down and it
sits by my chair. I can’t completely let it go. It sits starring at me. Einstein
and I will reunite somewhere down the road.
During a recent CUChatUp
blog talk, the participants started chatting about business books. Book
recommendations started flying. Inspiration! Around the same time, I had
received one of those delightful Amazon emails about new books. I'm so weak and
they know me so well. This one mentioned "Getting Naked: A Business
Fable...about shedding the three fears that sabotage client loyalty" by
Patrick Lencioni. I'm a fan of his "Five Dysfunctions of a Team".
It hit. The perfect storm - energy sparked by a community of
friends who like to read and make a difference and a new book by an author I
like It’s time to cycle back to business reading.
The call to action. The call to community. The LinkedIn Group “Credit Union
Leaders Book Club” was born. Using the discussion feature of LinkedIn, this is
a community where credit union professionals and friends committed to
professional and personal development are encouraged to grow together. Being
part of the community adds a sense of accountability and responsibility. We’re
spread out across the country and all have busy schedules. The online
discussion gives us more options to learn from and share with each other. On March
15 we start our 1st book discussion, covering one chapter a week. Our community
will determine the next book.
Feel free to join our group and share the challenge with
your team. Together we can learn from and challenge each other forward. Feel the energy. Make the commitment.
Those who know me, know I did not embrace Twitter and Facebook until this last summer. Had enough on my plate already without adding any additional distractions or diversions from the work at hand. Many conversations, yes, real conversations, diving in, listening, learning and lots of coaching later, I now champion both tools. And, yes, I'm still learning.
As director of a leadership development school for credit union professionals, reaching my target market is crucial. The ability to develop a relationship with future students before they come to campus helps us to maximize their experience. You do become vulnerable when you put yourself out there. At the same time, you also gain strength and support as you spend the time to establish relationships and learn together. All relationships take time to develop.
As senior director of training for the Texas Credit Union League, finding new speakers and topic ideas help me to better serve our membership. When I’m looking for subject matter experts, tweets and blogs help me get a better picture about the speaker, as well as topic ideas to meet the needs of our membership.
As someone who likes to use financial services, I appreciate when I see tweets alerting me to special hours of business, challenges with websites/ATMs, financial management tips, and more. Time is precious. I like it when someone cares enough to save me time.
As a member of a various communities, it's nice to know where and when there are opportunities to serve and give back.
As the mother of a freshman college student, twitter is how I get campus wide alerts.
Some of my aha moments included:
1)Twitter provided a no cost way to set up crisis communications when we had students on campus. (Grateful the need to use did not arise.)
2)Twitter provided a way for me to bring subject matter experts into the classroom for brief periods of time who could not have been there otherwise.
3)After linking Twitter to Facebook, I was finding some people were more likely to respond to tweets through Facebook. Hmm. Unproven conclusion – until social media tools and applications are sanctioned in the workplace, people are more likely to respond on personal time through Facebook (unless they have cool phones).
4)Innovation and new ideas are important as you work to position your company forward. By strategically selecting who and what topics I follow, I’ve found solid information with minimal time.
5)Engaging with the right people through social media grows valuable relationships. It’s always been important to reach people in the manner they wish to be communicated with. I have treasured contacts who prefer Twitter or Facebook for 1st point of contact. From there we migrate to other forms of communication as appropriate.
6)Sometimes you just need a little laughter to break up your day or to know that there are good news stories out there.
Before writing this, I did a little research on tweet posts over the last 24 hours from folks I follow:
“And in 2010, we’re going to move from experimentation to methodology. It will be the year that the real-time Web and social media become operationalized.”
I agree with Jay that 2010 will see a lot of social media strategic decisions made and processes refined.
2)As someone who loved the efficiencies of RSS feeds for storing key topics in a summarized fashion, I find myself following into the same scenario that Richard MacManus describes in:
“One of the interesting trends of 2009 has been the gradual decline of RSS Readers as a way for people to keep up with news and niche topics. Many of us still use them, but less than we used to. I for one still maintain a Google Reader account, however I don't check it on a daily basis. I check Twitter for news and information multiple times a day, I monitor Twitter lists, and I read a number of blogs across a set of topics of most interest to me. “
3)@MattRhodes directed me to “Social Media asCrisis Management Tool” FreshNetworks - “I have a client who once said to me: “We want to use social media to attract more complaints”. This may seem an odd thing to say, all too often attracting complaints is a reason people cite for being anxious about using social media. But this client knew that one part of their service didn’t always perform as well as they might hope. They also knew that nobody ever really complained to them. They must be complaining somewhere, they thought, and we’d like them to be complaining to us.”
He goes on to note some uses for social media in context of crisis management:
·Keep people up-to-date
·Represent your brand
·Engage people talking about you
·Communicate strategically through hub and spokes format
All this to say that conversations are happening.
1)We have to be better about telling the good stories and turning around the bad ones. Social media tools provide opportunities to do so. It’s time to hone our skills to take advantage of these dynamic, rapidly evolving forms of communication.
2)New information is coming at us faster than we can absorb. Social media tools help us gather data and information rapidly. However, don’t let social media be your only research source.
Be deliberate. Have a strategy. Join the community. Looking forward to exciting things in years to come as we work together to innovate forward.
As we get close to closing out 2009, we have been looking forward to 2010 and beyond. What is the future of your credit union? A lot of focus has been on Gen Y. However, let's look past them into an even younger generation of future credit union members.
Watch the video below for a snap shot into the decade in review through the eyes of kids who were born in 2000. It truly provides an awesome insight into how they see the world from their perspective.
In closing, what are your thoughts on this past decade? What opportunities await us as credit unions in the future? What potential challenges must we overcome? We can move forward together through innovation, communication and collaboration.
My mind is racing as I think about the tremendous opportunities that lie ahead as we innovate, communicate, learn, and grow together.
Others may question the value of Twitter. It was not that long ago that I didn't even want to consider another communication channel. I was too busy and there was too much trivial communication. Now, I'm thankful for an ever-growing, thought-provoking, community of connections and viewpoints shared on Twitter.
Browsing through Twitter updates this morning, I came across @BertDecker's reference to a quote by Henry Ford:
"If I'd asked my customers what they wanted, they'd have said a faster horse."
Fortunately, Mr. Ford chose a different path, pioneering a new form of transportation. Might social media be to communication, like the Model T was to transportation, where Twitter is the higher speed evolution?
Next, I spent some time reviewing @MichaelHyatt's pointer post to the free ebook, "What Matters Now: Things to think about (and do) this year". More than 70 big thinkers collaborated to provide a picture of where we are headed, including Seth Godin, Chris Anderson, Tom Peters, Elizabeth Gilbert, Guy Kawasaki, and more.
The ebook begins with a spotlight on generosity. Logic would indicate that people start focusing on looking out for number one when the economy is tough. It turns out that the connected economy doesn't respect this natural instinct. Instead, we're rewarded for being generous.
Covering such areas as dignity, momentum, consequences, compassion, DIY, accountability, responsibility, collaboration, change, context, authenticity, and more, the ebook is worth taking the time to read. Slow down, contemplate, and give some serious thought to the concepts. Take time to ask yourself, "What does this mean to me?"
Many young people are not being taught how to benefit from the power of the web as a tool for building a network and for learning. I mean, anyone who uses Twitter or belongs to an online community of some sort has seen that sharing information and learning from one another is not only fun and rewarding, it's addictive. Kids need to be shown how to navigate that world too.
It's not just the kids who need to be introduced to or taught about the value of social media. All ages can benefit when they find the right focus and discover the best channels to use for their goals and interests.
I was compelled to pay it forward today, sharing insights I found valuable with others. Now will you share with me? Has someone's tweet inspired, challenged, and helped you position forward? It's your turn to pay it forward, shout out and share with others.
Are banks and credit unions in your target audience? Are you looking for new and creative ways to attract potential clients and help keep existing clients loyal ? TechMecca has just the contest for you. Create an informative video of value to the financial industry and you are on the road to stardom. Now is the time to create some buzz and become a rock star!
- Building the Business Case for 140 Precious Characters
Checking this morning's tweets, I came across @ConversationAge Twitter, Customer Service and Good Brand Management http://ow.ly/yz2H.
She got my attention and I followed her link. For those of you serious about brand management and customer service, I recommend spending some thought time reading Valeria Maltoni's post. She addresses how those 140 character twitter messages have the potential to directly impact your brand and can function as a customer service tool.
She gives great tools about how to track tweets about your company. Maltoni goes further, nothing that "online monitoring is broader than Twitter", as she mentions additional web monitoring sites.
Keep exploring and learning as online communication channels grow and develop. Join the conversation, develop the relationships, and keep positioning forward!
This past spring we attended the Texas Credit Union League Annual Meeting in Austin, TX. Matt Davis (on Twitter: @CUWarrior) who is the Director of Public Relations at Members Credit Union ($200 million, Winston-Salem, NC) spoke on the power of social media. As a member of the Filene Research Institute’s 30-Under-30 Group and author of “The Credit Union Warrior” blog, Davis has been at the center of credit union innovation since 2004. This session explored the power of social media and its vast potential for developing community with your membership. Matt discussed past successes and failures in credit union blogging and strategies that your credit union can use to succeed in this new form of media - regardless of your asset size. Credit unions of all sizes can be successful in social media and the failure to initiate may be far more risky than the failure to launch such a promotion! Check out the video below and let us know how your CU is leading the way with social media!
New term for me today - Forwarding Quotient (FQ). Are you strategically and thoughtfully taking time to forward content of value to your clients, peers, work team, and friends?
As I read along, I was nodding in agreement. Whether we grow our relationships through face to face contact or online connections, special are those who know us well enough to share pertinent information that build us up, help us with projects, or provide inspiration and spur innovation.
I've found useful information through posts to this LinkedIn group. Scott's post, his choosing to participate and not just observe, gave me value. HBP posting timely articles with attention grabbing headlines keep me coming back.
Have you made the commitment to participate in social networking communities? Twitter? Facebook? LinkedIn?
Do you add value by forwarding information or commenting on blogs that grab your attention?
Do you have a lesson learned, aha moments, informative articles that will help someone position forward?
Add value. Be a contributor to the communities and dialogues around you. Share!
While we were in Austin, at the Texas Credit Union League Annual Meeting, Lisa Renner spoke on innovation and trends. Lisa is CEO of CU Holding Company, LLC. Credit unions have traditionally coasted along with follow-the- leader strategy. But in a world of increasing competition from every angle, credit union survival is dependent on both monitory trends and innovation in order to capture market share and get ahead of the competition. Engage in critical thinking and collaboration by watching this video: The hottest consumer trends, innovations form around the world - including the latest from Filene's i3, how consumer trends can be applied to our industry and how to implement trend watching and innovation in your organization.
When reviewing the weekly update from one of my LinkedIn groups, I came across the following post from David Pittman (Sr. Director, Marketing Communications, Initiate Systems, Inc.). I found his approach insightful and have his permission to share…
My company recently jumped headlong into social media, becoming active on Twitter, Facebook, and, LinkedIn, with soon-to-roll plans for other social media outlets. As the marketing communications director, I'm responsible for getting all this action rolling. That means I also field a huge range of questions from co-workers.
The most frequent type of question I get is "How is [X] different from [Y]?", especially "How is Twitter different from Facebook?" To help my colleagues understand the different social networks, I borrowed from my product marketing friends and created personas for each network. Each persona is the name of a fellow well-known employee, so everyone can quickly picture the personality of each social network and the 'feel' we will try to give to each in our communications.
Below are the personas I wrote, with the names changed to protect the guilty.
Our blog is like Tom C: authoritative but with a humorous edge. Invites other opinions.
Twitter is like Bill F: clever, witty and fun; easily interacts with other people; not afraid to ask thought-provoking questions.
The website is like Ginger K: organized, has everything you need. Isn’t as outgoing as other media, but is always ready to interact with you.
Flickr is like Emily G: has all the images, pictures and graphics you could want. (One person added, “And is easy to use.”)
YouTube is like Dr. Robert H: has depth and technical knowledge, but also has a funny personal side.
LinkedIn is like Alexandra T: knows everybody; exudes a professional demeanor; isn’t afraid to reach out and make connections.
Facebook is like Ted P: cheerful, congratulatory and social. Reaches out to other people, encourages interaction among different people, has lots of friends; is able to integrate personal and professional.
What do you think of the characterizations he applied to each social network? What changes would you make?
My venture into social media began a little over a year ago as a result of a conversation with two young men before they were about to do a presentation at Southwest CUNA Management School (SCMS) for alumni and students. The students had arranged for the presentation about the basics of social media. At the time this was all new to me and I wasn't ready to embrace any of it. However, James Robert Lay and Brad Garland impressed me. They were young, professional, passionate, and communicated well. It wasn't even the presentation that got my attention. It was how they approached business. Since then they have both become treasured friends and mentors.
One of the lessons I was reminded of when visiting with James Robert and Brad was to invest time in getting to know professionals outside of your own generation and beyond existing customer/member and vendor relationships. As relationships grow and new ones are formed, when we are looking for them, there are numerous opportunities to learn from each other. Collaborations can be a driving force to help position forward.
James Robert coached me through basics of blogging, eventually opening the door for me to blog on this site. As with most social media tools, the advice was to observe first. See how the media is used. Find blogs that interest you. Participate by commenting. Submit guest blogs. Learn how to stand up. Walk. Run. You decide each step of the way how quickly you want to progress.
I was introduced to RSS feeds. Cool. They saved me time by organizing blogs with information that was of interest to me directly into files in my Outlook. Now, when I have time, I can quickly review information, looking for new ideas and innovative approaches. To position forward we need to be finding new ways to do business.
LinkedIn is still my favorite, though this one seems to be more difficult to get folks to "buy into". To me it's more professional. One of the challenges is for folks who ventured into LinkedIn when it was primarily a HR recruiting/job hunting communication tool. They tend to think, been there, done that, tool has no value. It has evolved beyond it's HR/Job function, though it still has elements related to that. I like the ease of sharing news and starting/following discussions. I much prefer following a discussion here as opposed to weeding through email or twitter strings.
Facebook. Twitter. Waiste of time? Why bother? To maintain and grow market share, as well as position forward, we need to reach people beyond our traditional market(s) and contacts.
Before SCMS began this summer, I had just started to explore Twitter as a communication tool. During some idea generating sessions we used Twitter for live comments. As the process evolved, we realized that Twitter had power to bring expertise immediately into the conversation or to share "back home". No travel. No expense. Real time. We had strategic "experts" join our classroom conversation from New York, Washington D.C., and California. The experts gained new ideas. Credit union employees were able to be part of the conversation, gaining insights, without leaving the office. All players won.
Recently Brad posted a twitter offering to help on projects. I took him up on his offer with a simple request for him, but something that would have taken me time to figure out. I wanted to sync twitter with facebook and had not spent the time to figure out how to do it. He made it happen with a few key strokes and I was off and running.
This morning I posted on Twitter that I was looking for ways to help folks see the business case for social media. Darrell Bahr picked up my message on facebook, sending me the following reply:
"Need case studies/examples. CU people are largely numbers people, so they need something tangible and proven/tested before they will try something so "radical". A few places to look:
While I was at the REAL Solutions partner meeting, James Robert, co-author, asked “Hey, why don’t you do an interview?” So… I was pondering what questions should I ask. Then I thought I will try something different this time. I am going to do this interview “Jeopardy Style”. I will provide the answers and let the questions come to me. I supplied the answers to the following: Brent Dixon , founder of The Haberdashery, Denise Gabel, Chief Innovation Officer at the Filene Research Institute, Lois Kitsch, REAL Solutions National Program Director, and Kathy Darwin (no relation to Charles), CUANM’s REAL Solutions Program Coordinator.
Answer: REAL Solutions
Brent: What program is out there that embodies the philosophy of the credit union movement?
Denise: What is a philosophy and program that supports credit unions and consumers?
Lois: What is a program that recognizes the future needs of members and the ability for credit unions to meet their financial needs with affordable products and services through credit unions and state leagues?
Kathy: What do credit unions do for their communities?
Answer: Opportunity (which by the way I did not say opportunity for credit unions, just the word opportunity)
Brent: What is one of the greatest things credit unions can walk away with given the current economic times?
Denise: What are the current economic times for credit unions?
Lois: What is the reason why credit unions should reach out in serving emerging markets like young adults, low-wage families, “New Americans”, and Senior Citizens?
Kathy: What do low-wealth households look for?
Answer:Credit Unions
Brent: What is one of the best kept secrets for consumers that are out there today?
Denise: What is the consumer’s best-friend with money?
Lois: What is the best vehicle for change to provide economic opportunities for American families?
Kathy: What is a not-for profit financial cooperative?
Answer: The Fonz (in the spirit of Milwaukee…)
Brent: What bronze figurine would I most love to pose in a picture with?
Denise: Who is an icon of a leather jacket?
Lois: Who is the young adult who needed financial education, but was cool when young?
Kathy: Whose bronze statue stands in a park in Milwaukee?
Well there we have it-the questions from some innovative credit union minds… Does anyone out there have some other interesting questions to these answers: REAL Solutions, opportunity, credit unions, or The Fonz? If so blog back and ask us!
Calling all nominations for the 2009 C.U.M.A.- Credit Union Movie of the Year Award. Last year Larissa Walkiw, spokesperson for Commonwealth CU’s Young & Free campaign, won the very first C.U.M.A. with The Difference Between Banks and Credit Unions – Part One
. Who will be the winner this year? Who will take the coveted C.U.M.A. home? Blog back with the link to your nomination- to do this post a comment to this article and include a link to the video you are nominating. You can nominate any credit union film you have seen this year- it doesn't even have to be from your credit union. Feel free to nominate more than one. We will have an online vote next week. The winner will be announced Tuesday July 21 at the SCMS Alumni & Student Scholarship Auction & Networking Dinner. The deadline for nominations is July 17, 2009.
The only rules are:
The video is no longer than 5 minutes.
It must have premiered between July 2008 and now
It promotes the credit union industry in a positive way
It is uploaded to a public viewing site: Such as YouTube or a public credit union website.
Southwest CUNA Management School Grad School - Social Media Lab: Credit Unions Get Down & Dirty
It’s time to stop talking about social media, roll up your sleeves, and experience some of the tools first hand. James Robert Lay, Brad Garland, and Kent Sugg team up to divide you up. Attendees will divide into work teams to create various social media elements. You’ll discover that with some strategic thinking, nominal investment, and time, you can effectively take advantage of opportunities afforded you through blogging, polling, podcast, Flickr, Twitter, Facebook, YouTube, and more.
Unlike other events where you or your staff attend and get excited about the potential of social media, only to return and hit a dead end because you have no idea where to start, you’ll be in real life scenarios to help you better understand and work with social media when you return home.
Visit the school site for the full Grad School curriculum, schedule and related details.
Open Invite to Credit Union Professionals to Attend the SCMS Fireside Chatwith Robert Gallman and Susan Mitchell - no charge to take advantage of this event and experience the excitement of SCMS!
Swing for a cause - the development of credit union leaders! The 21st Annual SCMS Scholarship Golf Classic is open to all.
It's not too late to enroll as a 1st year student! Plan now to connect with tomorrow's leaders. Enroll today!
Thank you Winter for sharing Sir Ken Robinson's video, "Do Schools Kill Creativity".
Share Sir Robinson's message with graduating seniors. Challenge them to take a moment to view the video, asking what Sir Robinson's message means for their future.
For my friends with a passion for innovation or a heart for education, slow down and give this video a view. Wrestle with the message. Find application. Dream.
For all of us, how do we foster innovation as we work to position the world around us forward?
Enjoy this fun little flick about Twitter. Sorry for the late post but enjoy Friday, over the weekend or even on Monday morning when you get this in your RSS feed. What better way to get your week started.
1. Listen - if you are just getting into Twitter, listen first. Set up an account then sit back and observe the conversation and see how Twitter really works. Like the video above shows, there is a big misconception that Twitter is a waste of time. Twitter has grown to more than just people spouting off random and pointless tweets about their lives.
3. Discover - as you begin to listen to the conversation on Twitter, you will begin to discover new things. Maybe someone is tweeting about an experience at your credit union. You can even discover new and innovative ways that other credit unions are using Twitter to communicate with their members.
2. Engage - just don't jump into Twitter because it is cool and
everyone else is doing it. Find your purpose and reason for wanting to
use Twitter. I recommend using Twitter as a communication tool and not
a marketing tool.
You may feel overwhelmed at first but start slow. I'll be honest that I have laid off Twitter for the past two weeks after Twittering for two straight weeks at credit union conferences. I needed to disconnect and take a break.
However, as I get caught up on the day to day, I will slowly get back into Twittering more again. Feel free to follow along here: www.twitter.com/jrwlay
Shout back and let us know if and how you are using Twitter at your credit union.
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.
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!
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.
Challenges are here, both in the economy and in the workplace. As we deal with challenges and seek solutions, opportunities often present themselves. Now, more than ever, it's important for us to creatively connect both inside and outside of the credit union movement. Together we can find and capitalize on opportunities. I have just the place for you to connect with professionals dedicated to the future.
To help position your credit union forward and develop leaders, consider enrolling yourself and key management team members in Southwest CUNA Management School (SCMS). The SCMS curriculum has been celebrated for years. The growing list of professional credit union leaders to have emerged from the three-year school continue to shape and develop the credit union movement in innovative and positive ways.
To maximize both your personal and professional ROI for this intense school, students should arrive on campus with a strong determination to focus on:
Being ready to capitalize on the broad networking opportunities. Students and alumni represent a wide range of credit union expertise.
Planning to take advantage of the vast expertise offered by faculty. Many bring international experience to the classroom, challenging students with crucial topics. Faculty also encourage students to pursue innovative concepts.
Arriving prepared to actively participate, incubating ideas and contributing to the overall educational experience by offering their own unique perspectives.
Being a part of creating and shaping the future of the credit union movement.
When students arrive determined to take advantage of all SCMS has to offer, the rewards both personally and professionally extend well beyond the year of graduation. Shape the future and make a positive change in the credit union by enrolling in SCMS today. Enrollment is limited to the first 50 students. Seats have been going fast. Only 26 1st year student slots remain.
Students and alumni are encouraged to take full advantage of networking options by also utilizing the SCMS groups in LinkedIn and on Facebook.
Watch for information about the SCMS Grad School on July 22. One of this year's sessions will feature a hands-on workshop about how to create various social media forms of communication.
Shortly after Keynote Speaker, Judson Laipply, wrapped up his Life is Change presentation, and performed the “Evolution of Dance”, we heard the thoughts from three CUNA Marketing and Business Development Council conference attendees.
Watch the brief interview below to hear their thoughts and feedback:
Patrick Adams, CEO at St. Louis Community Credit Union, had great words and thoughts from the CUNA Marketing and Business Development Council Conference opening ceremonies.
Watch the Patrick’s interview and words of inspiration below:
Very interesting video on change and where the world is going. Now that you do know, how does this affect your credit union? Do you know? Blog back and tell us how!
Resourcefullness abounds in the credit union movement. Collaboration and creativity have been hallmarks of our industry. We have member/oweners we are accountable to. Do you have the next great innovation/idea to help position credit unions forward? Or do you think you are not high enough on the management chain, your voice would never be heard? Think again! Seth Godin, in his book Tribes, wrote about how Thomas Barnett changed the Pentagon. From the bottom. No status. No rank. Just a reasearcher. The key - passion for change!
Silence is not golden. You have a forum. Your voice can be heard. It's time to get in the game, to "slinky up" (anti up, belly up, step up, roll your sleeves up - you get the idea - only have fun while you're doing it).
Credit union and SCMS faculty rock star, Denise Gabel, writes: Feeling stimulated yet?
Whether you supported it or not, Congress and the Obama administration have served up a massive spending package aimed at the economic crisis. Rather than waiting for that money to trickle down, Filene wants to help credit unions innovate in the new environment.
While it seems the economy news is getting worse every day (or hour/minutes if you are on some social networks), it’s so important to keep a positive attitude and not get stuck in the here and now. Yes, the credit union world has been rocked in the past few days with some not so happy news.
I am currently serving on the Texas Credit Union League Youth and Millennial Task Force. One of the tasks we have at hand is to create a new tagline for credit unions. Currently some of the taglines used for credit unions are "People Helping People" or "Where People are Worth More than Money." Although, these are true they do not resonate to the majority of the youth market, who is unaware of what a credit union really is… So, if you had to pick a new tagline for credit unions that would captivate the younger mind, what would you pick? Below (not in any order) are a few that I have played around with for fun. Blog back and tell me some of your ideas for a new tagline. Who knows it may be the new tagline for the industry.
$-greed= credit unions
Wanna be cool? Join a credit union.
Bail Out Free since 19__...
Why make others rich? Join a credit union.
You have a choice- credit unions.
Ready for a change? Join a credit union.
If you like to own stuff- Join a credit union.
Credit Union = Economic Justice
Some places let you keep the change- We let you own it- Credit Unions
William Quinn at Callahan & Associates wrote a great guest article on Jeffry Pilcher's blog with some fascinating numbers and tables. To expand on these thoughts, it's important that credit unions begin to be open and accept and sales culture and environment.
What do you think when you hear the word sales? Do you cringe and run away? Do visions of schmuckish used car sales man dance in your head?
It’s time for a paradigm shift. Take those visions and throw them away.
Start to embrace sales as a way of being and a chance to build relationships and friendships. Through relationship selling, you can connect with your members on a much deeper and personal level to help provide products and services that will make their life better. In turn, they will thank you for this and be more than willing to tell their friends making your member the ultimate marketing and sales resource.
However, you cannot do this with the “old school” way of selling. Below are three tips to help you grow relationships and sell.
1. Cross Sell to Existing Members You have members. But do you have a relationship? Sales is not a dirty word if you have a relationship. Your members will thank you for being their financial consultant and helping make life better for them. There is an opportunity to enhance relationships with existing members to provide them with additional products and services. The relationship with a member may start with an auto loan, but if they are not getting a savings account, checking account, credit card or other product or service from you, they are getting it somewhere else. They may not even know that you can provide this product or service to them. Below is a breakdown of the “Average Penetration Among Credit Unions” for products and services provided to members (source Callahan & Associates on The Financial Brand).
Average Penetration Among Credit Unions
Percentage or #
Credit cards
14%
Share savings
46%
Number of accounts
2
Start to build a relationship with your members while educating them on how you can truly help them. Don’t just meet a monthly quota.
2. Sell and Market to Potential Members
As you grow relationships with existing customers, it is also important to connect with potential members within your community. The table below shows how little market share credit unions have providing a huge opportunity for growth (source Callahan & Associates on The Financial Brand).
Credit Union Asset Size
Members vs. Potential Members
Over $1 billion
11.63%
$500 million - $1 billion
6.28%
$250–500 million
5.09%
$100–250 million
5.66%
$50–100 million
5.67%
Less than $50 million
7.58%
All U.S. credit unions
7.08%
Financial institutions are a commodity as there are banks on every corner in your neighborhood. What makes you different and stand out. As turmoil continues to rock the banking world, customers are looking for a safe and secure place to put their money. Do they know your there? Credit unions have received so much positive press through many different channels including mainstream broadcast and print publications. Capitalize on the current financial crisis and convert customers to members.
3. Breed an Internal Sales Culture
You have employees. Train them. Use them. This can be your least expensive marketing channel if they know your CUs brand and product/service. However, everyone in your CU must have a member-service mindset. Take time to invest in your employees and your investment will pay off in the long-term. Everyone must get involved. From your member service representative, to the call center to the loan officers. If members have a positive experience “banking” at your credit union, they are more likely to do business with you again in the future plus tell their friends. Your member has now become your most effective marketing channel but it started with a trained employee providing a positive “banking” experience.
What Will You Do?
As you know, the market is primed. You can use the above three thoughts for ways to help grow your credit union through relationship selling. Now is the time to act and be proactive as opposed to being reactive. How will you help your members? Shout back and let us know.
Tinker FCU has a new website that is getting some attention. The entire premise for the website is that the norm for consumer spending is going into debt by spending beyond their budget. This means that the average American is getting into debt and then doesn't know how to get out of it (cuna.org).
What is the website?? It is Tinker Buck the Norm and what is so great about it? First of all the parody of "bucking the norm" is a humorous way to make a huge point about consumer spending. Secondly, and probably most importantly the website is in place to promote financial empowerment.
The overarching goal of the campaign is to change how you think about finances:
"...how you think, act and feel about your money can make a big difference in your life. So get over what everyone else is doing and get smart about your money. Then you will hold the power-in the palm of your hand" (Tinker Buck the Norm).
Getting the American public to move away from the mentality of living paycheck to paycheck and setting a budget and sticking to it, can totally change each individual's financial future. This is what the site is all about, changing mentality and therefore changing lives.
Tinker is definitely "bucking" the bar and raising it to a whole new level. It is definitely something worth checking out.
Beacon FCU definitely has a new breed when it comes to the idea of having a credit union “spokester.” Beacon’s newest credit union spokesperson is none other than the fabulous and adorable Harley Gayle. Harley Gayle rides Harley motorcycles with her owners. She has appeared in several newspapers and magazines including the Houston Chronicle. Gayle (one of the owners) is the branch manager at the Baytown BFCU office.
I spotted Harley at Beacon FCU’s second annual "BeaconFest". The annual event is an appreciation event for Beacon’s members. The credit union offered fun and games for the kids, hotdogs, a live DJ, a giant shred machine, and photo-ops with Harley Gayle. Although, there was a cash-grab machine, jumpees, and slides, the hottest item there was Harley Gayle. There was a line just to get a picture with the infamous motorcycle riding Chihuahua. She was in full Beacon gear with a Beacon t-shirt, pink riding helmet, and riding goggles. By the end of Harley's celebrity appearance she was ready for her ride home. Gayle stated, "Harley gets excited as soon as she hears the roar of a hog."
This was Beacon’s 2nd Annual celebration of members; a free event to all BFCU members and their families. The community was also invited to attend. An estimated 200 people attended the event this year.
I have heard from an "inside source" Harley plans to make another appearance when Santa visits the credit union. I wonder who the kids will be more excited to see, Harley or Santa? Kudos to Beacon FCU for thinking outside the species!
Don’t be selfish… social media is not about you… it’s about relationships. It’s about others. Janine McBee asks, “Are you facing financial challenges when bringing up "social media" to your credit union powers that be? Are you being asked to justify any move toward social media by providing figures for ROI (return on investment)?”
When it comes to social media, it may be a while before you find the ROI you are looking for. However, there is so much more there in social media than ROI.
Jacob Morgan’s Blog on Social Media, Technology, Marketing, and Life provides some great insight: "Think of it like this, how much money would be willing to spend to keep your friends in your life? Think about your valuable experiences, your life stories, the things you have learned and the memories you have shared. How much is that worth to you? Can you quantify how much money you have made as a result of your friends or long term relationships? Now flip the question around, don’t ask how much money you are going to MAKE from your customers. Ask how much you are willing to GIVE to your customers. It’s not about you, or your brand. It’s about your customers; it’s about what they want."
Janine points out that, “He goes on to discuss how embracing social media tools requires a change in how we think about our customers/members. Yes I said customers. If we don't act like we are seeking and serving customers as we seek to attract and retain members, we are already missing the target.”
Jacob describes the approach to implementing social media well. "The first step in creating a social media strategy is not creating a blog or analyzing your objectives, it’s changing your mindset. It’s about realizing that your customers and your readers are doing you a favor by talking to you."
Janine refers to "Meatball SUNDAE" by Seth Godin where he writes, "It's been a decade since the underpinnings of this revolution were put in place. For the last ten years, ignoring most of what was going on with the New Marketing wouldn't have hurt you that much. Unless you were a travel agent, worked for a newspaper, owned a book store"...you get the idea. However, we are at a point to where we can no longer to a blind eye to “what is going on the real world”. Referring to the cliché “we’ve always done it that way” will not cut it anymore.
Janine points out that, “Credit unions need to explore new marketing mediums to attract younger members. At the same time, they need to make sure their products and services are designed to meet the needs and attract attention of younger generations.”
One way to find if you products and services are meeting GenY’s needs is simply by asking. Have a focus group… fire side chat… coffee round table discussion. Never the less, it is important to simply start the conversation. Yes… you can read blogs, books and white papers which provide good insight, but you will never know what your members (GenY members) need if you don’t ask.
Remember, social media is not about you but the relationships that you build and cultivate with your members. Relationships, above all other things, are priceless and are the glue helping to bind you to your members. If there is no relationship, there is no binding glue, and your credit union is simply a financial commodity that is easily replaceable.
How is your credit union using social media? Can you track usage to new accounts opened? Loans generated? Transaction revenue? Are you creating an inviting environment for your own credit union community? A place where people want to become members? Have a conversation? Speak their mind? Complain about what you are doing wrong or praise great service?
Do you have "lessons learned" to share? Shout back below and let us know.
It's an interesting dilemma...most credit unions need deposits and yet consumers are not good savers. But what if we could more deeply understand why consumers save and create more effective programs for them? In this session, you'll learn what it takes to get your members to want to save. What if they had a support group encouraging them to meet specific savings goals? How thrilled would they be if you rewarded them for regular savings? Watch this session and learn about Denise Gabel's ideas on fun ways to get your members saving.
Sadly, the picture does reflect reality or should I say lay out challenges for creative, energetic and passionate folks to venture off on "the road not taken", bringing your world into a new and exciting reality.
Bring others along the journey by sharing how social media tools has benefited your credit union, helped you in your professional journey or just stay in touch with friends and family.”
I know a lot of credit unions are struggling with this model on a daily basis. The question is… why? We (in the social media world) see the benefits of how all these great Web 2.0 tools and social media applications can help credit union’s connect and build relationships with members.
We are still the early adoption phase with these principals. I mean, some credit unions still have web sites that look like crap. A bit harsh… yes. However, these same credit unions would be ashamed if there members walked into a branch with paint peeling off the walls and water leaking from the roof.
One big reason for the resistance of some of these social media strategies is fear.
• Fear of members- What will happen if we allow our members to comment on our web site? What if they leave a negative comment.
• Fear of change - We’ve done things one way for 50 years. There is no need for this stuff.
• Fear of the unknown – Why do we need this stuff… it’s what kids do.
However, I see a light on the horizon showing a bright future. The light is education. Opening people’s eyes by educating them about the power of social media and how it can be used to help build relationships with members and even bridge generation gaps.
Our credit union blog is dedicated to education through innovation, communication and collaboration. We have posted and will be posting more videos from two great Texas Credit Union League conferences. Janine also recommends “Love and Learn”… got any food?
Shout back and let us know how you are educating credit union leaders to help them understand the power of Web 2.0 and social media to connect and build relationships with members.
Generation Y is moving in where the Baby Boomers are moving out Marketing and attracting this technology-savvy group is complicated at best, and the time has never been better to learn what makes them so difficult to categorize. This session includes some creative ideas to jumpstart your thinking. Through the use of best practices, case studies, and interaction, you will learn from and share success stories and innovative approaches to prepare for the next generation with Trey Reeme and Kent Sugg.
Click 'play' below to check out the video and shout back at us on the ways your credit union is working to reach Gen Y.
A big shout out to Janine McBee for pointing this out. She is reading Seth Godin’s book “Tribes: We Need You to Lead Us”. Pretty nice title considering the theme of the Texas Credit Union League Marketing Conference. His subheading states “In Search of a Movement...a movement waiting to happen, a group of people just waiting to be energized and transformed.”
Janine states “A movement is thrilling. It's the work of many people, all connected, all seeking something better. I so felt like he was talking about our credit union movement.”
The book also notes that “Everyone is not just a marketer - everyone is not also a leader. The explosion in tribes, groups, covens, and circles of interest means that anyone who wants to make a difference can.”
Janine summarizes this thought with “At this point he made me think of our credit union network, how each of our contacts impacts our lives through leadership, direct or indirect, good or bad.”
Just getting back into the office from the marketing conference, this makes so much sense (more to come on conference thoughts later). What are you doing in your daily life to empower your co-workers to help them make a difference in your member’s lives. Shout back below and let us know.
Assets are the name of the game in financial services, and credit unions are under increased pressure as financial service firms and now retailers are leveraging their existing distribution "footprints" to grab more of the pie. Find out how credit unions can compete with the overwhelming distribution and resources of the mega-corporations in this presentation by Ron Galloway, author of "Wal-o-nomics" and director of the upcoming film "Wal-Mart Wars."
Check out the video and feel free to shout back and share about how your credit union is working to compete with mega-corporations.
I recently attended the Texas Credit Union League's annual convention and heard a powerful keynote by Barbara Sanfilippo that is a wake up call for all credit unions. In the video below, she mentions that in a study of 3,000 credit union members and bank customers only 24% were advocates, 39% were apathetic and 37% were actually antagonistic. Many disengaged members view their credit union as a transaction destination and not genuinely interested in their future well being. Given the current economic climate, Barbara strongly suggests we have an opportunity to turn our members and staff into loyal advocates.
Lois Kitsch joined the National Credit Union Foundation as the National Program Manager of the REAL Solutions program in December of 2006. REAL Solutions - Relevant, Effective, Asset-building and Loyalty producing - demonstrates the opportunity for credit unions to reach low-wealth and low-wage households. Providing access to transaction and wealth building products for emerging markets is a good business and social decision for credit unions. Join us to learn how credit unions are expanding their service area and give members needed financial relief.
Check out the video below to learn more about how your credit union can do more to reach more people.
Brad Garland, founder and owner of Banktastic.com, explores new ways to market your members via the Web Blogs, podcasts, and wiki’s are taking over. If your financial institution doesn’t know how to utilize them or the Web properly, you could be losing business! This look at Web 2.0 applications and more will keep you on the cutting edge of internet technology.
Check out the video below and shout back with how you or your credit union uses social media to connect with members and build relationships.
Check out Larissa's (from Young & Free Alberta) acceptance speech for the first annual CUMA (credit union movie awards). While she was not able to make it out to the great country of Texas this time, a warm greeting (and weather) await her arrival.
Just the fact that Larissa was able to attend... without attending... was another innovative way that made the SCMS event a success. What innovative ways are you implementing to connect and communicate with your members? Shout back and let us know.
We have pulled the audio from the SCMS mixer presentations and created the first Seeds for Growth Podcast. James Robert Lay with PTP NEW MEDIA and Brad Garland with Banktastic both spoke about the need for CU innovation, communication, and collaboration. There was also a special CUMA (credit union movie award) presented to Larisa Walkiw for her Young and Free video "The Difference Between Banks and Credit Unions". Check out the podcast below (total running time 34 minutes) and shout back at us with your thoughts and comments on CU growth.
The only bad thing about this campaign is that they do not allow for the videos to be shared or embedded. I think that would really make help the campaign be even more successful.
How do you think your credit union would be able to implement change like this? Change that is different. Change that is weird. Change that is talked about. Shout back below and let us know below.
When it comes to credit union ownership, some members may not even understand the principal and what it truly means. It’s important for credit unions to continue to educate them about ownership and this can be achieved through a unique membership experience. What that experience is will differ from credit union to credit union depending on their location, market and current membership base.
It is the experience you provide to your members that will help your credit union differentiate yourself from the other FIs around you. If you offer the same boring “bank” experience, how will your members know that you are any different than the bank down the street?
Check out the ultimate experience for fans of the rock band Weezer below. They recorded a Yahoo! Live set that allowed fans to rock out with the band.
What a great way for the band to connect with their fans on a personal level and create buzz. Formed in the early 1990’s, Weezer has continuously evolved and transformed themselves to connect with their fans in a very different way.
According to Wikipedia, “In 2002, the band took an experimental approach for the recording process by allowing fans to download the demos from their official website in return for feedback.”
The fans who participated truly took ownership of this album. What kind of ownership experience are you giving your members? How are you letting them "rock out" with you? Shout back and share your thoughts below.
How many times have you been out on the road and needed a phone number or help finding your destination. In the past, you had only a couple options.
Stop and use a pay phone – better have quarters… do they even exist anymore?
Ask the gas station clerk – hope it’s not at night in a bad part of town
Call 411 on your cell phone – you just burned a dollar or two
Of course times have changed and 411 is so old school … which is why it is ranked up there with the other two. 411 has gotten more expensive over the years to use. Depending on your carrier, it can cost you a dollar or more to look up a phone number or directions.
Now there is a new way to find the info you are looking for when you are out on the road. It’s called GOOG-411 and is brought to you by no one other than Google.
Who would have thought that a search engine company would expand to a FREE 411 service? Plus it is totally voice automated and gives you more than just a phone number. Watch the video below to learn more.
As Google expands their market reach outside of the search engine computer based world, GOOG-411 is helping to expand their brand. This was such a creative and innovative way for them to reach a new market.
With that being said though, can your members find you on Goog -411? I was out the other day and needed to call a CU I was visiting and let them know I was running a bit late (thanks to Houston traffic). So I whipped out my Motorola Q9c pocket PC phone and called 1-800-GOOG-411. I spoke the info but the service could not find the CU.
I thought that’s weird, it is giving me all these other CUs around them in the same market but not the one I need. This is what inspired this posting. From a member service stand point, as members become more technology savvy, it is important that your CU be found through all possible channels.
So check out GOOG-411 today and see if your credit union can be found. Just call 1-800-GOOG-411 and follow the voice prompts. If your CU can not be found, GOOG-411 uses listing information provided by Google Maps. To edit your information in GOOG-411, please refer to the editing instructions for Google Maps.
Other options for mobile solutions that will help members find info they need on the go are mobile banking. This does not mean you need a full blown mobile web site with interactive banking but can be just a very simple informational mini web site with basic information such as phone numbers, atm search, etc. This gives your members what they need when they are out on the road.
We would love for you to share how you are currently helping reach mobile customers while they are on the go. Share your thoughts and ideas below.
Join us July 22, 2008 for the Annual Alumni SCMS Mixer at the TCU Campus. The mixer will be held in the Kelly Alumni Center from 6:00pm - 10:00pm. Dinner guest speakers include Brad Garland with The Garland Group and James Robert Lay with PTP NEW MEDIA. After dinner will include a casino night with fun and prizes.
Click here to register to attend the 2008 Annual Alumni SCMS Mixer
How Will You Grow? We want to know!
Let us know how you will grow in the coming year. Share your thoughts and ideas with us below and they will be posted to the site. Communication, collaboration and innovation will help us all grow together.
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