I Heard That!

Guest Post by Jack McAdoo, President & CEO, Beacon FCU 

I recently had the privilege to sit in with and listen to the very insightful dialogue during the Southwest CUNA Management School  c2c (Connect to Collaborate) Casual Chat this year after the Student Alumni Dinner and Auction in Fort Worth.  What I heard was a strong reminder of many of my frustrations in the early years of my career.  I wish there had been more of my peers there to listen to the words of our future leaders.  I thought I would write some of this down to share, but understand, my words are not what is important here.  The words, feelings, passions and emotions of this group are what is important.

First of all, the c2c group is a group of 30 year-old and under students, professionals in our industry...the credit union industry.  The group was lead by 30ish credit union and supplier representatives. In this particular session, there were approximately 40 men and women joined in a circle to discuss topics of interest and concern.  It was open forum. I was allowed to sit on the outside of the circle with one strict rule; I was not allowed to speak.  I was allowed to submit a written comment, but with no obligation from the group to discuss it.

This group of extremely bright and creative professionals spoke for over an hour about things that were important in their professional worlds.  The discussion was sincere; it was candid; and it was very informative.  Here are a couple of bullets of what was said:

• My CU is slow to incorporate technology;
• Budget cuts!
• Slow to incorporate change!

What I heard was not as important as what I learned.  I learned that by and large, that group of young professionals, the group that will someday lead our industry, is frustrated!  They are frustrated because you and I as managers, as CEO's, are not listening to them.  Or, I guess more precisely, we may be listening, but we are not hearing them.  At least, the perception is that we are not hearing them.  And you know what is said about perception?  Perception is reality!

Is there anything more frustrating in our world than the feeling that no one is listening?  We must take note and learn to communicate, or we risk losing this wonderful talent base to others and other industries that have learned to communicate with them.  Communication is not just talking.  That's obviously important and based on my experience with other CEO's, we have that part down!  It is also about listening and actually hearing what is being said.  The important part is to make sure everyone understands!  That means goals and objectives both short term and long term.  How many times have we heard great ideas, but for one reason or another they didn't fit into our current strategic vision?  The great ideas were discussed, but nothing was ever done, and the idea gets lost, leaving the one who thought of it feeling as if no one listened thus becoming frustrated.

The other thing that is important, or I viewed it as important, is that we as CEO's need to quit blaming delays and inaction/no action on our Boards.  Don't get me wrong.  Boards are important, but let's quit kidding one another.  They look to us for direction.  We as CEO's can make or break a decision on an idea or proposal.  Let's not blame or hide behind the Board.

I guess what I learned is that it is important to listen to and actually hear our staff.  Communicate with them!  Make sure everyone understands strategic goals and objectives and how ideas, suggestions, proposals, etc. fit with or do not fit with the goals and objectives and why.  We must put ourselves in their position, and we will understand how frustrated they can become.  Communication is key!  Focus on communication and stress it at all levels of the organization.  Then, work on your listening skills!

Your Brand Speaks Volumes – Who Does It Say That You Are?

Marketing To Do List:

☑ Update logo
☑ New, slick, promotional pieces
☑ Marketing campaign approved and ready to launch

But wait, there’s more. When it comes to branding and image, ask yourself:

• Does the campaign support your credit union vision? Mission?
• Is your message consistent?
• Will your member experience match your message?
• Have you let your credit union staff know about you’re about to launch?
• Are the employees trained on the essential skills? Up to date on the featured product or service?

Branding goes well beyond marketing. As Mark Arnold passionately puts it, “branding is more than just changing a few brochures or the look of a newsletter. Much more. A true comprehensive branding program takes years to develop and impacts the entire organization. Your credit union doesn’t just “do” branding one year and mark it off its “to do” list. Your credit union must “live” the brand every day.”

Mark Arnold is teaching a full day course this summer at Southwest CUNA Management School on Advanced Branding. Limited seats available to help you further explore and expand your knowledge about branding.

Building a Lasting Brand: Advanced Branding for Credit Unions
Mark Arnold, CCUE July 20 (8:30 am – 4:30 pm)

Mark speaks from first-hand experience when he covers:

• Maintaining Brand Consistency
• Lovemarks & Emotional Branding
• Gaining Staff Buy-In
• Brand Leadership in the 21st Century

Having led his credit union through a name change and ongoing branding efforts, Mark provides practical information on what to and not to do with your credit union’s brand.

If you’re looking to develop your team or enhance your skills, plan to spend July 20 (8:30 am - 4:30 pm) on the TCU campus (Lupton-Brown University Union) with Mark and the SCMS Class of 2011. Limited seating available on a day rate. For more details, visit www.scms.coop or contact Janine McBee, SCMS Synergist & Director.

You do not have to be an alumnus or have a student currently enrolled to take advantage of the opportunity to attend individual classes.

Be Strategic About Social Media: Find Your People, Join the Conversation

Social media, however you define it, is a changing environment. Regardless of what you call it, think about it, or the tools you use, it’s out there. And yes, the tools change. It’s not about the tools. It is about the people, relationships, value, authenticity, and conversation. It’s about growing your business and serving your community.

Make a strategic decision.

• If customers/members and potential customers/members are having a conversation which relates to your products and services, it’s in your best interest to be part of the conversation. Find out where the conversations are occurring. If they are at the local business club monthly meeting, show up. If they are on Facebook or Twitter, listen, share, and interact.
• If they are not talking about your credit union, products, or services online, no worries. Or not? Have you provided products and services worth bragging about? Has your competitor? Have your service levels slipped? Your products fallen behind the times? Do you want to know what people think? Look, listen, and learn. Be strategic about whether or not social media makes sense for your credit union and market.

If you make the strategic decision to incorporate social media into your marketing and business development plan, be strategic about what you do.

• Don’t set up a credit union Facebook page just because someone else did.
• Twitter is not a 140 character commercial. It’s a place to help people find connections, learn about cool stuff/resources, and know more about your credit union and what you have to offer. Select the tool or tools best suited for your team and your members.

Southwest CUNA Management School has two courses this summer with limited seats available to help you further explore and expand your knowledge about social media.

Social Media I: Getting Acquainted
Dr. George Low - Texas Christian University (TCU)
July 20 (1-4:30 pm) with 1st Year Students

Social-networking websites such as MySpace, Facebook, and LinkedIn have seen unprecedented growth in recent years. Consumers are creating their own content on blogs, YouTube, and are rating products and services on message boards and other sites, presenting unique challenges and opportunities for marketers to use these social media to communicate with current and potential customers, and to build lasting relationships with them. The objective of this course is to give students valuable knowledge and skills needed to take advantage of these powerful social marketing tools. Teaching/learning methods will include class discussions of current trends and issues, mini case studies, and the sharing of experiences, ideas, and best practices in using social media as part of a broader strategic, integrated, marketing communications effort in the credit union industry.

Social Media: Let’s Get Strategic
Amanda Vega – Amanda Vega Consulting
July 19 (1-4:30 pm) with 2nd Year Students

You’ve heard about social media, have been dabbling on your own, or have incorporated elements of social media at the credit union. How do you advance to the next level? It’s time to get strategic with Amanda Vega, Amanda Vega Consulting. In this open discussion that is part information and part hands-on learning, plan to explore and discuss:

• What are the challenges and successes associated with social media in the credit union industry and who ultimately owns it?
• Advanced uses and tools in social media to help you get to the next level (comment marketing anyone?).
• The executive team isn’t buying into this marketing activity or simply doesn’t “get it.” – now what? How to and ensure buy-in from the decision makers
• New research on tracking, monetization and the like (a Facebook fan is worth more than $138) and the new tools that are out there to help quantify these efforts.
• Social media compliance, regulation, and policy tips
• Taking your social media to the next level, communication as a whole, arming you with real information and engagement suggestions.

If you’re looking to develop your team or enhance your skills, plan to join us on the TCU campus (Lupton-Brown University Union). Limited seating available on a day rate. For more details, visit www.scms.coop or contact Janine McBee, SCMS Synergist & Director.

Credit Union Lending Trends, Challenges & Innovations

It’s tough out there!

“Overall loan demand softened during the reporting period. There is more commercial and industrial loan activity in the pipeline but consumer loan demand outside of credit cards remains sluggish. Contacts report that they are turning down many potential mortgage borrowers due to poor credit. Credit standards remain tight and loan pricing is unchanged. Some contacts reported an increased inflow of deposits, which they attributed to the unease arising from recent stock market volatility. Although contacts are relieved that the Federal Reserve will retain regulatory oversight over state member banks, there continues to be concern regarding other impending regulation changes. The outlook is slightly optimistic with some concern about the impact of the Greek credit crisis.”
Source: The Beige Book, Federal Reserve Districts, Eleventh District – Dallas, June 9, 2010

According to CUNA’s 2010-2011 E-scan, “Credit union members demonstrated little appetite for additional debt in 2009, resulting in a meager 1% rise in credit union loan balances – the smallest gain since 1943.” Loans are out there for the financial service providers who are positioned to capture the business. Are you and your team on top of lending trends? Is your credit union ready and positioned to put new loans on the books? Have you considered various scenarios and mapped out plans to position forward? On July 14, Larry Biernacki, President & CEO, Arkansas FCU, will share with Southwest CUNA Management School students and guests from his extensive lending background, discussing such areas as:

• What’s Going on in Lending Land?
• Challenges in Current Rate Environment
  • Production Concerns
  • Margin Issues
  • What If/Can You Run Out of Money?

Strategic Products for Building & Deepening Member Relationships

Manufactured Housing

If you’re looking to develop your team or enhance your skills, plan to spend July 14 (1:00 pm – 4:30 pm) on the TCU campus (Lupton-Brown University Union) with Larry and the SCMS Class of 2011. Limited seating available on a day rate. For more details, visit www.scms.coop or contact Janine McBee, SCMS Synergist & Director.

Big or Little, Rich or Poor, Creativity is Key when it comes to Business Development

When you hear someone say “business development” what comes to mind?

• If only we could hire someone?
• Sounds good, but we don’t have the money to spend right now.
• It’s someone else’s job!
• So busy right now, good idea but don’t have time.

Seth Godin wrote, "The thing that makes business development fascinating is that the best deals have never been done before. There's no template, no cookie cutter grind it out approach to making it work. This is why most organizations are so astonishingly bad at it. They don't have the confidence to make decisions or believe they have the ability to make mistakes."

With some creative thought, many options exist that don’t involve additional staff or expenditures. It’s time to get strategic and bring growing your credit union into focus:

• Educate, energize and involve your entire staff
• Set goals
  - community outreach
  - retention
  - overall membership growth
  - other metrics appropriate for your credit union
• Track results
• Communicate

If you’re looking for training for yourself or your team to help with business development strategies, plan to spend a day on the TCU campus (Lupton-Brown University Union) with Julie Ferguson, owner of JRF Consulting Services, LLC. With 16 years at First Tech CU, Julie knows credit unions. She brings real life experience and practical tips to SCMS Grad School, July 21, on the TCU Campus. For more details, visit www.scms.coop or contact Janine McBee, SCMS Synergist & Director.

Image Provides Insight into Ideal Candidates

Click the image to enlarge.

If you are planning a career in the credit union movement, professional development and networking are key to your success. As a leader, it is also important to have a plan to ensure that your team has a clear plan for developing their skills and network. Southwest CUNA Management School is designed to challenge you, your team, and your credit union forward.

 

If your find yourself or members of your team identified in the word picture to the left, you have a match for the profile of a future leader and SCMS student…enroll today!

 

Visit www.wordle.net to create your own "word cloud". It's a great tool to see if something you're writing has the emphasis where you want it to be.

Southwest CUNA Management School Bulletin: Wanted Credit Union Professionals Fitting this Profile!

The secret’s out. Southwest CUNA Management School Students have been profiled. The PTP New Media & CU*Swag team caught one of this year’s third year students, Jason Duplant (Neches FCU) on tape. Look and listen closely to get an insiders’ perspective on the value of the school.

Careful analysis of this year’s 1^st year enrollees reveals what a typical students looks like:

Who

Students come from credit unions ranging in size from under $1 million to nearly $1 billion. It’s exciting to see mutually beneficial relationships develop when Davy and Goliath are side by side in the classroom.

Students range in age from 23 to 62. Oh the lessons the generations learn from each other when they spend eight days on a college campus for three years. New for 2010 we have a special scholarship, networking, and mentoring C2C initiative for students under the age of 30 by August 1, 2010.

Experience levels cover a wide range.

• Years on the Job: 1 to 26, averaging just under 6 years.

• Years in Credit Unions: 2 to 31, averaging 11 years

• Years in the Financial Services Industry: 2 to 33, averaging just over 13 years.

As for job titles, you name it and we probably have someone enrolled. The school is designed for everyone from management trainees to mid and senior level management to CEOs.

When       July 11-21, 2010

Where    Classes are held at TCU (Texas Christian University, Fort Worth, Texas)

Students may be coming from as far as Africa. The majority of the students are coming from Arkansas, Kansas, Louisiana, Missouri, New Mexico, Oklahoma, and Texas.

What

Intensive classroom training, world class faculty, unique networking opportunities, and developing a detailed two year strategic business plan for your credit union. Specialists gain an appreciation for how the various pieces of the credit union come together to complete/affect the entire company. Smaller credit unions get the opportunity to dream and think about how to strategically position their credit union forward. All students build a strong network of friends and experts to help them face challenges down the road.

Developing News

Strategic alumni have been collaborating and brainstorming about providing additional value. As a result of numerous discussions, new opportunities are available for credit union folks to take advantage of what SCMS has to offer.

• Day Students: Any league affiliated credit union may attend ½ to a full day, or even a couple of days on a day rate basis - $275 per day, lunch included, on own for accommodations. No homework. Click here for the full schedule.

• Full Year Option: CUNA Management School alumni are invited back for a full year experience, living on campus, learning and networking with the class of their choice. This is offered as either entire 1^st, 2^nd or 3^rd year options. Same price as a full time student, though no scholarship opportunities at this point. No homework.

If you, or one of your credit union’s talented up and coming stars, specialists, or seasoned vets are looking for challenges, fresh perspectives, innovative ideas and aha moments, the time to enroll in the school is now!

Contact Janine McBee for further information if interested: jmcbee@scms.coop or tweet @SCMSJanine

SCMS New Faculty On Board for Summer 2010 Session

Fresh faces are on board to join the Southwest CUNA Management School faculty team and challenge students forward:

· Matt Davis  (AKA "The Credit Union Warrior") partnered with Filene Research Institute, Matt joins Denise Gabel for the 1 1/2 days of Innovation classes with 2nd & 3rd year students.

· Julie Ferguson, JRF Consulting Services brings a wealth of credit union and business development background to Grad School.

· David Goldsmith, MetaMatrix Consulting Group, Inc., is about to have a book published on strategic planning. He’s the final class for 1st year students, charged with sending them out challenged and future focused.

· Mike Petrone, CFE, CFSA joins us from CUNA Mutual Group (CMG) for the 1st year Risk Management course. In 2002, Mike was honored with the 2nd annual Michael G. Hallinan Risk Management Choice Award.

· Shawn Temple (one of last year’s Award of Excellence recipients), Bossier FCU, joins the team to work with students on the project (a two-year strategic business plan) requirements.

· Amanda Vega,  Amanda Vega Consulting brings real world experience to help second year students make strategic decisions related to social media and their  credit unions.

 

For a complete faculty team and course listing, scholarship information (deadline this week), and school application, visit www.scms.coop.

Excitement mounts as registrations come in for this year's first year class. To give you an idea of what students looks like:

• They are coming from Arkansas, Kansas, Louisiana, New Mexico, Texas and possibly Africa.

• They hold titles ranging from President, Manager, Director, COO, VP, Accounting, Business Services Representative, Branch Manager, to E-Branch Manager and more.

• The credit union asset sizes range from under $20 million to around $1 billion

• The students range in age from early 20's to 50's. They have 2 to 28 years service in credit unions, with 2 to 33 years in the financial services industry.

• Education backgrounds range from Masters Degrees to High School Grads.

Thank you Bossier FCU for enrolling three in the first year class and to numerous credit unions who continue to enroll credit unions year after year!

 

How SCMS Changed My Credit Union Life

When I was introduced to SCMS, my first thoughts were:

• I have a degree – no more school for me – “CompSci til the day I die”.
• I have friends – I do not need more.
• I am not good at networking – what would I say?
• How will this help me and my credit union?

My first summer day of SCMS:

• I met great people – yes, the first day.
• I now had lots of instant friends who were in the same world as me – credit union.
• We had fun while we were acclimated to more credit union business.

What I learned:

• Time definitely does fly.
• You are never too old to learn.
• You know more than you think you know.
• Your questions can help others.
• Sharing is still a wonderful feeling.
• You are never too old to meet new friends.

How SCMS helped me:

• I was new to the credit union industry and SCMS was the orientation I needed.
• I learned more than I thought was possible.
• We are a small credit union but I have made contacts and never feel isolated or alone.
• I know where to go for help when we need it.
• And I never have to re-invent the wheel. Resources are there waiting for me.

What happened to me after SCMS:

• Those instant friends are now my BFFs.
• I started out as Technical Operations Administrator and am now Manager of the credit union and now confident in this new role.
• When our staff turned over 75%, leaving me as the sole leader, I had no need to panic because I knew at least 10 people who had gone through this before and they became my mentors. I had and still have a great support system of people who supported me through SCMS and continue to support me in anything I need. Without my SCMS support, I would have had a major meltdown, but I did not because I knew where to go.

Guest Post - Iris R. Netters, Class of 2008
One of the "Great 08" Class Members
Manager, New Mount Zion Baptist Church CU

Show us Your Leadership and We’ll Show You The Money!

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. Odds are better than 1 in 34 to win! At the end of the 1st year session of SCMS, the student’s classmates will vote on who among the under 30 group 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!

A huge thank you goes out to Brent Dixon, Mark Arnold, and PTP New Media for helping me get C2C from concept to reality!

Have questions about SCMS? Contact Director and Synergist, Janine McBee at 800.442.5762x6634, jmcbee@scms.coop or tweet @SCMSJanine.

(No scholarship application is required!)

Transparency, Authenticity, Honesty and Passion for Topics and Brands

Thanks go out to ConversationAgent by Valeria Maltoni for a little morning inspiration! Time to put your thinking caps on.

Transparency, authenticity, honesty and passion are commonly thought about and addressed as people navigate a wide variety of social media channels. If they are not being thought about, warning, do not pass go. Please slow down and give these areas serious consideration. You owe it to your customers, employees, board of directors, share or stock holders. What are the norms for your business environment? Your team?

Take a moment to hop on over to a blog referenced by a tweet from @ConversationAge:

Diva Marketing Blog - "Where Does 'Transparency' Fit In The New Social Media Marketing Model?" The post highlights insights from 39 people active in social media.

Questions that raced through my mind:

• Should your organization have degrees of transparency?

• Is it important for your audience to know who writes copy for your communication channels?
  To know who is responding to them?

• Do you have content strategy? Communication goals? Are you having conversations and building relationships?

• How personal should your social media, public conversations be? As work and personall communication channels blurr, when are you simply yourself and when are you representing your company? Both 24/7/365? Are we ready for that?

• What lessons have you learned?

Social Media, Patience & Education - Looking Back & Reflecting Forward

Following up on two recent posts by James Robert Lay about "Credit Unions, Twitter, Service and Brand Management"...

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 1^st 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:

1)     5 Sure-Fire Ways to Operationalize Social Media by Jay Baer

“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:

RSS Reader Market in Disarray, Continues to Decline
December 20, 2009 - ReadWriteWeb.com

“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 as  Crisis 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.

Twitter: a faster horse, trends, the classroom, & our future work force

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?"

Next, @rossdawson pointed me to "A futurist's view of the 'next big thing' in social media" by @VenessaMiemis and featured on www.businessesgrow.com.

When I came across:

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.

Strategic thoughts about Social Media Trends and Predictions

A number of business professionals I work with are still questioning the value of social media. If you are one of the doubters or naysayers, take a moment to read Jeff Bulla's blog on "45 Social Media Trends and Predictions".

He gives some great food for thought as you consider the strategic implications of social media for your organization.

For those who have already embraced social media as a strategic business tool:

1. What have you learned from your social media journey, both positive and negative experiences. As we move forward, learning from each other helps all of us position foward faster.

2. How are you leveraging your social media efforts?

3. Are you using measurements to evaluate your social media impact? If yes, please share what they are and why you chose them a metrics.

Are you still undecided about or dismissing social media?

No matter what form of social media that comes to mind, blogs, twitter, facebook, and so on, they are simply another form of communication. In a recent conversation with Amanda Vega she described social media as being similar to conversations at a cocktail party. Some conversations are more engaging than others. And yes, some conversations may send you desperately running away in search of more interesting people to be around. There are even times when you have no real interest in any conversation at the party and you flee from the event.

As with any communication medium, there are those who prefer one form or another. As you weigh the value of social media, ask yourself  “how do people I want to serve, sell to, or have relationships with, communicate?” If no one in your world tweets or spends time on Facebook, by all means, you don’t need to go there. In today's competitive market place, identifying how people prefer to communicate is a solid strategy to position your business forward.

A big part of who I am is built around developing relationships with credit union professionals, speakers, and service providers.

A younger credit union COO I know probably won’t answer a phone call unless you are already listed as “OK” when your phone number pops up, doesn’t care to read paper based mail, and prefers not to use email. I had to make a decision. Is he important enough for me to want to have a conversation with? Absolutely! Because I do value the relationship, I choose to communicate the way he prefers - via Twitter. Does that mean we don’t email, talk on the phone, or visit in person? No. However, we have established a way to stay connected and strengthen our relationship through Twitter and Facebook. Because of the relationship, many more channels of communication and business opportunities become open.

Another of our CEOS just wants a phone call. He said if I called him he'd send me a student every year. Easy enough. I'm happy to place the call to keep the relationship and build the business. And yes, I learned this through good old fashioned face to face communication and asking for the business.

As we go forward and wrestle with various forms of communication, it's not as easy as what form will I choose. It is all about strategy. No matter the form of communication, or how many channels you feel are appropriate for your business, spend some time assessing the form, style, value, and direction for each. Take a tip from Seth Goodin as he compares social media to a hammer, "The best way to find the right tool for the job is to learn to be good at switching hammers."

Ask yourself where are the conversations occurring that are important to me and my company? Be deliberate. Form the relationships and join in the conversation by both listening and speaking. Bring value to the conversation and be real.

If you have already embraced social media, what are you doing to enlighten others about the business value of the medium?

Passionate about what you do?

What are you passionate about? How do you dream and take your credit union to the next level? Take a moment to check out Matt Davis, The Credit Union Warrior's blog presentation - "Oprah, Chicken, and the Future of Credit Unions". Ponder. Imagine. Find inspiration.

Where is your vision? What are your thoughts? Together we have a tremendous opportunity to position credit uions forward!

SCMS Hands-On Social Media Class & More

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.

 

For the 1st Time - SCMS is Offering a Day Rate

 

Open Invite to Credit Union Professionals to Attend the SCMS Fireside Chat with 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!

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!

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!

What's Enron Got to Do With It?

With the current market and some corporate credit unions in conservatorship; how do you differentiate your credit union? What message do you send to your members to let them know just because they hear the word “credit union” on the news it doesn't mean yours?

Jack McAdoo, former CEO of Enron FCU, has experience in dealing with the media and negative press in credit union world. Talk about stressful situations; the Enron credit union was inside of the Enron building at the time of the Enron collapse. The morning after the news of Enron filing bankruptcy, there was a line wrapped around the credit union of people ready to pull all their money out. He and his team saved the credit union, which is now Startrust FCU, through an event most credit union CEO's have nightmares about. According to the NCUA, Jack accomplished the impossible. McAdoo guided the credit union through a successful name change, relocation and field of membership expansion — all within a seven-month span. Jack is currently CEO at Beacon FCU in LaPorte, TX. I recently interviewed Jack McAdoo about his experience:

Invest in the Future by Enrolling in Southwest CUNA Management School

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.

For more informtion give me a shout back!

The Re-Purposeing of Marketing

Hot cup of tea in hand. Overlooking a sea of traffic in the early hours. Cruising through email as I prepare to race through the day. Hit the breaks. Slow down. A headline catches my attention, The Re-Purposeing of Marketing. It was in a little box in an email from the MarketingDailycommentary. They had me at the first sentence...When you have a genuine purpose at the heart of an organization, it takes marketing to an entirely different level."

Credit unions have been built around passion and purpose. Sometimes we need to be reminded of the basics to keep our message strong, serving our members, and reaching out to attract and serve new ones. As we bring in new staff, we need to make sure to always articulate, educate and demonstrate the credit union difference.  

In case you don't know about credit unions, yes, our customers are members. They are member-owners. Our purpose is to serve and maximize the wealth of all member-owners. Our purpose is not to maximize stock holder wealth for a limited few.

The article goes on to state, "Purpose makes everything easier but it's not easy work. Having a purpose will give an organization a north star that will make decisions come easier and alignment happen faster." Is your team clear about your purpose? Where the north star is? Are your strategic plan, leadership direction, and marketing plan aligned to create a passion and loyalty from those you are here to serve? What is your brand? Would your products and services be missed if they went away?

As you prepare to address your membership with your annual report and annual meetings, will you have their attention at the first sentence?

Thank you Roy Spence and Haley Rushing for the article!

Did You Know? Now That You Do- How Will This Affect Your Credit Union?

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!

Don't Get Overwhelmed In a Big World...

Overwhelm a niche.  So true are the words from Seth Godin. "The secret to being the best in the world is to make the 'world' smaller."  In his blog, Seth shares the story of Alan Scott.

"Alan Scott was the best community-focused artisan pizza oven builder in the world. A niche that didn't exist before he got there, but one that spread, that engaged people, that created a tribe and that supported him.

Alan was passionate about his craft and wasn't shy about sharing it. He trained others, turned it into a movement.

It's entirely possible that you will choose a niche that's too small. It's much more likely you'll shoot for something too big and become overwhelmed. When in doubt, overwhelm a small niche."

Instead of making pizza "the way it has always been done" and swimming an a red ocean, Alan creating a blue ocean and his own niche.

Take for example Whitefish Credit Union who offers only two services. They provide primary high interest savings and mortgages.  There is no checking.  There are no auto loans.  Just those two.

Being in Montana, the area is full of summer homes. So they decided to offer the two services most needed by the consumers of the area. Savings and Mortgages. Simple. If a member requests a checking account, they refer them to a "competitor.

Upon the latest findings, they have 50,000 members with assets of $943 million. The credit union, opened in 1934, has 62 full time employees and 3 part time employees, or 794 members per employee, compared to a national average of 457.  Not too shabby for "being small and overwhelming a niche."

It's true that not every credit union can have this strategy.  However, it's also important to note that an organization can not be all things to all people.

It's a choice I had to make when deciding to grow my company.  We decided to focus on a niche market and be the best we could be.  After working with allot of different markets, our ideals and philosophy matched up with the credit union movement.  The more time I spend in the movement, the more I love it. That's where our passion lies.

But, where does your passion lie?  Where do credit unions stand on this thought of "being small and overwhelming a niche"? Has your credit union tried to become everything to everyone?  Or do you focus on being the best at a few things.