Chip Filson
The Seated Boxer, an iconic ancient Greek work of art, shows a grizzled veteran of the ring, equal parts resigned and ready to spring into action.
What I like is a sense of respite from competition, the powerful athletic physique and the tiredness that surrounds his humanity. Is he a winner this day? Are there more fights to go? How will his efforts be remembered?
These are questions that all of us encounter, in literal or figurative ways, in our daily efforts.
From Bloomberg.com on December 17, 2025
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Credit union growth has multiple factors, but two are critical in the movement’s current state.
One strategy is building on the power of local advantage. This is the ability to interweave common purpose with a community of members. It does not imply being small or require a limited market area.
This critical commonality is illustrated by the home market of city or town. “Local” is often represened by where the credit union’s historical roots were set down. Where there is a long term record of its essential role supporting the community economically and in civic roles. It is where present issues and needs are addressed openly.
This effort is a shared ambition with other “local” organizations seeking a better future together. The credit union is engaged in services that matter for young and old alike because everyone wants to move forward.
That is how most credit unions began, supported by a sponsor-employer which had an important role in the community. The shared goal to enhance a community’s well-being with and for its residents is fundamental in credit union design whether large or small in operations.
The outcome can be large firms serving multiple areas like the $10 billion Wright-Patt Credit Union or small ones such as the $70 million Levittown’s Spirit Financial. This historical positioning provides a competitive high ground.
At SECU North Carolina, Jim Blaine when CEO said the rationale for building at least one branch in every country was to create a network across the state that no outside institution could hope tp match. This network’s visibility and service reach are an advantage which Warren Buffett called a strategic moat.
Thus advantage isn’t from size or even the number of branches, but the market’s perception of the credit union’s integration and affiliation with the population it serves.
In a new charter roll out, this relationship is gained from the sponsor’s embrace. This often came with on-site office space, employee volunteers and even payroll deduction, advantages initially unavailable to other financial institutions.
Credit unions with deep community relationship do not survive by chance or luck. They succeed because their leaders believe in their role as a one-of-a kind option built with generations of local support. These deep community anchors become the foundation for greater coverage as opportunities and needs are sought further out.
When credit unions with these strong, long time local roots are merged, the charter’s ending will also extinguish many of their long standing competitive advantages.
The historical identity is gone. Instead a brighter future is promised by becoming a node of a much larger network. One whose scale and diversity will enable greater efficiency and broader service capabilities—all intended to improve member value.
However economic theory predicts that as firms get bigger, it will be difficult for them to grow ever larger. In credit unions this means the skills for growing organically are often superseded by geater acquisition efforts. An outcome that results in the atrophy of internal growth capablities. New merged members are often forced into a more easily scalable digital-first service model.
In a November 2025 article in Kellogg Insight, the authors identify The Growth Factors Propelling Industry Behemoths. Or how the big get bigger. It is not by mergers.
Following are some excerpts in which they identify the critical corporate competencies to continue growing.
How have the Golden Arches of McDonald’s and other industry giants like Starbucks, Procter & Gamble, and Coca-Cola grown so much more quickly than competitors and stayed on top for so long?
Kellogg’s Sara Moreira investigated how these companies came to be so huge compared with other firms in the same product category. Through mathematical modeling and an analysis of the consumer-packaged-goods industry, she found that a key factor propelling firms’ growth is standardization: the degree to which a company reuses components, knowledge, and relationships across different product lines and locations.
Take IKEA, which became famous for using similar parts and materials for various types of furniture. Similarly, Starbucks has relied on tried-and-true formulas for floor plans, menus, and barista training to efficiently open more locations.
As a result, standardization practices like these have become a kind of superpower, allowing fast growth and higher responsiveness to increased demand.
“When knowledge, investments, and inputs are potentially scalable, that can allow the firms to become bigger.” By reusing components and previously successful strategies, “it’s less costly to you,” Moreira says.
The author’s examples are of firms that learned how to scale their existing advantages, not by buying firms operating in their industry.
Applying their analysis suggests that newly merged credit union must quickly dispose of their previous local advantages. They must standardize branch activity, operating and product features while creating a common culture across previously autonomous institutions.
Each of these standardization requirements will erase much of the merged credit union’s foundation for local success. The new branding often signals to the public just another out of area firm trying to buy its way into the market.
Despite merger rhetoric about “equals”, enhanced value from scale, additional expertise and expanded member services, these promises made to secure member’s voting approval, lack any unique local character.
Time and again the continuing credit union will assure continuity: merged members will see familiar employees, branches remain open and the service culture continues. The reality is that as operational integration and back office conversions take places, the promised continuity ends. Forced change, digital access and new faces are the reality.
Mergers eliminate local leadership including decisions about business prioties and even pricing. Independent operations end in a flurry of standardization, rebranding and new leadership. Corporate assimilation replaces organic growth. The ability to present a local marketing identity is lost. The goodwill from generations of member relations is gone.
The issue of whether mergers of independent local credit unions into ever larger organizations will leads to real credit union market growth is an open question. Today PenFed FCU after over two dozen mergers has fallen over $5 billon from its peak assets. With core market visibility declining because of local office closures, it is struggling to recapture organic growth.
In the example of Credit Union 1 and its acquistions of over 20 credit unions in the last three years, it has yet to show an operating net from its existing assets. Rather the equity level is retained by one time additons of merged credit union’s capital, sales of assets and loans, and gains from undervalued assets acquired in mergers.
The credit union system has a vital need for an analysis of major mergers completed and fully integrated, say over the past five years. All credit union leaders would benefit from examples of performance comparisons before and after large combinations are done. The outcome of most of these transactions is a significant unknown.
Such a study should be a priority for anyone who is facilitating these combinations, The evidence that there are significant member value benefits or enhanced institutional performance is sorely lacking. It is especially necessary as an aid to public policy and supervision by credit union regulators who now routinely approve these transactions.
The consequences of mega credit union mergers have not been documented. In the meantime the loss of hundreds of strong and long serving local institutions is clear. The critical question is, are these combinations leading the movement on a walk to a cliff edge?
There are two agenda item’s for Thursday’s meeting: approval of the 2026/7 NCUA budget and a report on the financial status of the NCUSIF.
This will be the first board meeting since September 18. Chairman Hauptman has implemented a practice of holding meetings only when needed versus. a fixed monthly event.
This year end financial estimate for credit union’s unique cooperative fund is more than a financial update. In the past, this meeting has set the upper cap on the Normal Operating Level (NOL)which determines when the surplus from fund earnings must be returned to credit unions as a dividend.
A dividend from NCUSIF operations has not been paid since 2008. The dividend demonstrates stable performance by the industry. It also acknowledges credit union’s evergreen commitment to main 1% of insured shares as the principal earning asset for the fund. In contrast the FDIC relies primarily on open-ended premiums assessments for its revenue.
As of the October 2025 financials posted yesterday, the fund’s full year outlook is very positive after the first ten months.
Net income of $222 million is $10 million greater than the same period last year with operating expenses near the same level at $204 million. The provision for future losses is funded to $240 million up $10 million from a year earlier.
The fund’s yearend external audit is underway. Assuming no surprises, it is straight forward to forecast the probable yearend outcome and the ratio of fund equity to insured shares.
This dynamic spread sheet model using actual data for the first ten months, estimates a yearend ratio of .3101 of retained earnings to insured shares. The historical upper cap from 1984 initial implementation to 2017 in the NCUSIF was .30. This cap was only raised in 2017 to accommodate temporarily an influx of funds from merging the TCCUSF surplus. This current projected earnings would result in a dividend of $200-$250 million with a30 NOL cap.
After the year end true-up of insured shares, the total ratio of 1.3% means the NCUSIF is fully funded. In addition, there is more than $240 million in reserves, already expensed, to cover insured losses.
Chairman Hauptman is in a unique position to re-establish he NCUSIF’s historical cap of 1.3%. Until the 2017 short term incease in the 1.3% cap, the upper limit was unchagned even in the 2008/9 financial crisis, Dividends were a regular outcome in the first thirty years following the 1984 redesign.
The federal credit union act authorizes three board members. As the lone member currently, Hauptman has a chance to restore the fund’s historical cap. Sooner or later via court action or administration appointments, additional board members will be in place. It is now possible to reaffirm the original legal compact with credit union for supporting the 1% open-ended funding model in return for a stable upper NOL limit.
Restoring the 1.3% NOL cap authorizes returning credit union funds to credit members. It demonstrate the administration’s intent tp limit the inherent tendency of government to always seek greater amounts of money to spend.
Most importantly it reinforces the unique cooperative model of the NCUSIF for credit union members and the public. Credit union’s collective fund is different-by design.
Finally such action would implement Hauptman’s intention to return to the fund to its 1.3 NOL as stated in December 15, 2022 NCUA board discussion of this issue. From his statement on the issue that meeting:
I appreciate the additional information on how the Normal Operating Level is calculated. We need more of this kind of transparency. In the spirit of more transparency, I ask that we acknowledge our responsibility to show why 1.30 is not adequate — as I said, every basis point over 1.30 is money credit unions could be investing in their members. (link)
A Messiah rehearsal with the New Dominion Chorale. Tom Beveridge, the Music Director-Conductor for 35 years, prepares his final concert.
Holiday gift collection at St. Luke Catholic Church (VA)
Responses after Sunday’s three masses
As at the first Christmas; political activity at the DC holiday market.
The Advent candles with a canned food drive at Arlington Presbyterian Church (VA)
Why Christmas matters still
In my December 9th post I included a preview from NCUA’s Video Network of the largest credit union conference ever held to that point in time.
That short 20 minute overview gave NCUA staff’s instructions for the meeting plus an introduction to the content for examiners and credit union attendees.
After the event was over, video highlights were edited and shared in NCUA’s Edition 18: The December 1984 National Examiners Conference in Las Vegas.
The 55 minute of outtakes focuses on three topics: common bond, the role of the regulator and the future of credit unions. Speakers include state regulators, CU CEOs, NCUA staff and other federal supervisors such as Richard Breeden, Martha Seeger, Ricard Pratt. NCUA Chair Ed Callahan provides opening and closing remarks, plus comments on what makes credit union’s truly unique.
Although this special gathering concluded 41 years ago, the event still speaks to credit unions today in that:
From the truism “there is nothing new under the sun, to history never repeats, but does rhyme” there are multiple ways to learn from past events.
This video shows cooperative leaders in their most articulate and thoughtful approaches to the future. NCUA’s conference agenda of over 300 sessions of breakouts and general panels captured the movement’s advantage of sharing expertise and experience for everyone’s benefit.
Comments were sometimes controversial and often in disagreement, for example the need for a common bond. Or, “Trust in a financial institution is like virginity; once you lose it, it’s hard to get back.”
Clifford Rosenthal: A personal memory of the big conference in Las Vegas. It was a big deal for me; I was new to my role serving as head of the National Federation. I still have the little lucite piece that was given to attendees.
Paul Horgan: (credit union CEO) Two recollections: NCUA and the Vegas meeting.
The meeting was innovation at its best. Communication was the key feature. Goodness, that was 41 years ago.
On Ed Callahan: Don’t remember the exact month and year but recall having the privilege of driving Ed from the Brainerd, MN airport to the league meeting…on the long drive I criticized the capitalization plan, he really listen then replied “Okay tell me your better idea.”
I guess today’s takeaway is “enjoy your friends before it’s too late.”
Mark Wolff (former NCUA employee):
Thank you for your post about the National Examiners Conference and for sharing the promotional video. Wow, watching it (and me in it!) was like going back in a time machine!
Being in the NCUA public affairs office at the time, I remember the sustained promotional effort to generate awareness and attendance. Along with the video I seem to recall regularly highlighting the conference in our newsletters and press releases that NCUA sent to credit unions at the time and in board members’ speeches to CU groups.
During the conference I remember being struck by how many people had attended and how crowded the hallways were between breakout sessions. At the time I’d never seen anything like it. We all had a nice feeling of accomplishment afterward.
Events in Ukraine move in and out of the American news cycle, and our attention, depending on multiple other daily events.
But for Ukrainians total war is a constant reality that affects all aspects of life. The country is in a fight for its existence. Life and death decisions are faced daily for everyone.
In a fight between an authoritarian dictator in Russia and a country’s whose people want self-determinatin, the outcome will depend on people’s morale, not just who has more weapons or manpower.
How does one learn about this critical factor? What is Ukraine’s morale, its peoples’ confidence in the increasingly difficult political, military and everyday uncertainties all endure?
Two recent posts suggest the resilience of the Ukrainian nation is everywhere.
The first is a brief FaceBook post from a Christmas concert which celebrates the country’s music, culture and faith in the midst of war.
The concert did not go as planned. A Russian attack on the power grid shut down electricity in the middle of the event.
The short Facebook video below shows what happened next. The Ukrainian words state: “There was a power outage right in the middle of the concert, but the choir didn’t skip a beat and kept on going in the dark.”
In this one minute excerpt note the orchestra and chorus continue to play. But not entirely in the dark. Because the audience raises their mobile phone lights to make the concert hall still visible.
People uniting to bring light when darkness threatens.
(https://www.facebook.com/reel/1152383956497057)
Caolin Robertson was a London-based investigative journalist who moved full time to Ukraine to cover the conflict . He explaines his reasons in this brief video, Why I Moved to Ukraine. . . for Good.
(https://www.youtube.com/watch?v=Ja6EzWrfg-w)
As mainstream foreign media coverage is at best intermittent and often prompted by external actors-Russia, the US and Europe-Caolin chose to be on the ground full time.
His latest video is one of the best reports on the current state of the war as seen by soldiers and civilians living at the center of the conflict in Donbas.
Filmed last summer it includes live interviews with middle age soldiers in bunkers who have been in combat for almost four years. Young couples and older residents are forced to leave their homes. The destruction of cities and towns is total.
The production is superb, the story is current and intermingled with video of what these Ukrainian towns looked like prior to the 2022 Russian invasion.
One of the themes in his interviews is the deep, storied and unique history of the Donbas, This is the area that Russia wants kiev to hand over as a condition of any ceasefire. And one part in the Trump administration’s so called peace plan.
His interviews weave current events with history which makes this sory even more meaningful and tragic.
While 44 minutes might seem long, I believe it will keep your attention once you start. For it shows people willing to persevere and fight no matter what the current cost in life and fortune.
Fpr a future of freedom there is a deep and profound price today. A message the world should know and support whenever freedom anywhere is threatened.
(https://www.youtube.com/watch?v=Jq2RTlhvqbc)
To demonstrate the cooperative difference, some credit unions plan sending bonus dividend and loan interest refunds to members at year end.
Yesterday I read in one CEO’s staff update that they were doing well enough to have accrued a minimum of $10 million in special distributions for savers and borrowers.
Here is an example of an announcment in which Robbins Financial CU is sending members $20 million. The special rebate program is to reward members’ loyalty and to demonstrate the credit union’s financial strength.
However credit unions are not the only financial firms which provide “members” with refunds, rebates or special dividends. The following are excerpts from a large mutual, insurance and investment firm which competes directly with credit unions.
Record Amount Underscores Association’s Commitment to Military Families
San Antonio, TX – USAA members are receiving approximately $3.7 billion in financial rewards in 2025 — the largest amount returned to members in USAA’s 103-year history. . .
The announcement follows USAA’s initiative to provide its members with nearly $450 million in zero-interest loans, payment extensions and fee waivers during the recent government shutdown.
In November, the Association also launched Honor Through Action, a five-year, $500 million initiative to support military family resiliency by bringing together public, private, and nonprofit partners to drive systemic change around three key pillars: meaningful careers, financial security, and overall well-being.
“We are committed to putting our members at the center of all we do and every decision we make,” said Juan C. Andrade, President and CEO of USAA. “Sharing our financial results with our members reflects our responsibility to deliver strong value and exceptional service for the military community. We are taking action every day to help keep costs down and protect the long-term value of membership. . .”
This record amount in financial rewards is possible because of USAA’s financial discipline, . .It is also a result of proactive steps USAA and members have taken to prevent losses.
“Ensuring our members benefit from our financial strength is critical.” Andrade added. “We will continue to push for reforms that address the broader factors increasing insurance costs for consumers.”. . .
The person who sent me thlis information added a calculation for his home state of North Carolina:
Why this matters for North Carolina:
Members in North Carolina will receive an average of $200, depending on their policies and location, as a bill credit or money back based on the member’s preference.
Good ideas do not take long to replicate. Especially when customers are treated as members.
Do credit unions really need to retain an average of over 11.0% retained earnings when the well-capitalized goal is 7%?
The largest credit union conference ever held to this point in time began gathering on Sunday, December 9, 1984 at the MGM Grand Hotel in Las Vegas.
One of the most amazing aspects was that the entire effort was organized and led by NCUA. It was an event unique then, and still today, in credit unon history.
The conference had two phases. In the first two and one half days over 800 state and federal examiners and regulators held meetings to share their learning and expertise. On Wednesday afernoon they were joined by over 1,500 CEO’s/seniorexecutives, board members and leaders of multiple league and trade organizations.
An NCUA Led Effort
Two months prior in October, NCUA released a Video Network Edition XI for state and federal examiners to describe conference logistics: timing, travel arrangments, financial reimbusements and per diem. And most importantly, a preview of the speakers and conference agenda.
The National Examiners Conference preparation video is 20 minutes and can be viewed here or in the link below. The eight speakers are all NCUA DC staff members responsible for specific areas of the conference.
The details may seem pedestrian by today’s conference attendee. The room rates were only $35 per night for single or double. These critical instructions show NCUA staff at its hard working best.
The Agency’s Washington team organized a national industry wide meeting led by only existing personnel. At the time the Agency employed approximately 600 people. This special event was in addition to the entire staff’s day jobs.
According to the NCUA’ 1984 Annual Report there were 10,547 active federal charthers and 4,657 insured state charters, plus another 1,500 whose share insurance was from a state authorized cooperative fund. Moreover, all FCU’s were being examined annually, a process implemented in 1982.
Following six short briefs on conference logistics, at minute 14.21 a presentation of the “most important part of any conference” begins. Joan Pinkerton, NCUA’s Public Information Officer, gives an overview of the conference speakers and over 50 breakout sessions.
Topics include: Is the Regulator Obsolete?, How the Early Warning System (EWS) Rating is Assigned, Recent Industry Scams et. al. At minute 17 Mark Wolff describes real case studies that will be discussed in joint examiner-attendee sessions. The case details of up to 25 pages will be available to read in advance.
The conference succeeded beyond all expectations. It was both a learning and bonding event. Next Monday I will publish Edition 18 of the NCUA’s Video Network, 55 minutes of live excerpts of the conference highlights.
Even today, some 41 years later, the event is still remembered as a special moment enabled by the collaborative character of the credit union system.
If you would like to share your memory, please send a short post to chipfilson@gmail.com. I will include these along with the video and photos of the conference.
(https://youtu.be/Tw_JKnheoSk)
Another December 9, 1984 Event
On Saturday October 8 NCUA colleagues Bucky Sebastian and Mary Beth Doyle stopped by the house to drive me to Dulles where we would fly to Vegas for the conference.
Mary Ann and I had been married for 17 years. Our first date was my senior year in college at the Harvard-Princeton football game. I had been expecting to go with her younger sister whose flight from Midland, MI was canceled due to snow Mary Ann took her place.
We married 18 months later in a service at Merton College Chapel, Oxford, where I was a student and she worked in London for Dow Chemical’s UK office.
We traveled the world together, first courtesy of Uncle Sam who said I owed him some time. Our first daughter, Lara, was born in Athens, GA while I was at Supply Corps School. Our second, Alix, was born in Yokosuka, Japan where I served as Supply Officer on the USS Windham Cty (LST-1170) and later at the Supply Depot on shore duty.
After four plus years in the Navy, in December 1973 I joined the International Division of the First National Bank of Chicago expecting a two year rotational training period. Six months later our family was in Sydney, Australia. I was in the bank’s rep office and assisted with their wholly-owned finance company FCAL. It was a time of critical economic turmoil, short term rates were over 20%. They wanted help working through the crisis in FCAL’s loan portfolio.
After three years, we returned to Chicago. I left the bank to work with Bucky Sebastian and Ed Callahan in the Illinois Department of Financial Institutions (DFI) where I was credit union supervisor. Five years later we moved to Bethesda as the three of us joined NCUA.
In these 17 years Mary Ann was critical to everything that life brings to a family. She not only had the primary care roles with our two girls, but also worked a full time job where possible.
Her talents for maintaining home life while I was traveling, expanding her interests in photography, design and working with her hands in the kitchen or the sewing room are habits both girls adopted. She was disciplined, but in a very soft way, always sensitive to others’ needs.
I am grateful our two children inherited all the good she gave them which they express every day.
She had an adventurous streak as well. Once we pulled into Hong Kong harbor on R&R. Mary Ann and several other wives flew from Japan to see us. Our LST anchored in the harbor. The city was still under British rule. The Navy purchasing office would first send out local supply boats to refill our fresh water tanks and order fresh food supplies.
As I stood on the deck waiting to give our purchase order to the local vendor, I saw the small harbor craft had an extra passenger. Mary Ann didn’t wait for us to come ashore via the harbor’s water taxis. She came out, on her own, in the middle of the harbor to welcome the whole ship. It was just plain joy as she came on deck. The Captain was a little uneasy with this protocol breach, but never said a thing.
In the picture below, Mary Ann with Lara and Alix are on on the beach in Hayama, Japan. Fuji is faint in the distance. It is the fall of 1971.
Mary Ann’s mother had flown in to help while I spent the week at NCUA’s Examiner Conference. Early Sunday morning I got a call from her mother that Mary Ann had gone to the hospital that night and died. Her five year fight with breast cancer was over. I flew home that morning. Our 17 year journey together was over.
Now go back to the 14th minute of the video above and see Joan Pinkerton. For in 1987 we were married. She knew Mary Ann and had even babysat our girls when we traveled together. Life is full of possibilities even when some hopes end. Joy can still be found.
From Aesop’s fables to the present day, writers have used animals to portray the failings of human society.
Animal Farm by George Orwell in 1945 used the metaphor of animals living together in a farmyard to illustrate a political point. HIs thesis is that power inevitably corrupts.
This inescapable temptation leads to the betrayal of democratic ideals and the re-establishment of totalitarian rule. An outcome enabled by a naive and accepting working class.
Orwell’s story is an allegory of the 1917 Russian Revolution and the rise of Stalinism. Putting his dialogue in the mouths of animals was an inventive way to show how authoritarians manipulate language to justify their ends.
Ten years ago a credit union observer/CEO used this political satire to describe deeply troubling trends in the coperatie system.
The blog’s title: Down on the Farm.(Be sure to click read more for the writer’s ending challenge, Who Let the Pigs In?)
In these prior stories the pigs are the bad guys. The credit union commentator and Orwell hoped their literary skills would motivate readers to address threats both foresaw to democratic societies.
But human nature doesn’t always respond to danger until it arrives on their doorsteps.
Today’s retelling is not on the farm, but in the jungle. Here the wild animals have no fences or guardrails. They can only be viewed at a safe distance by safari tours. It is nature in its most natural state.
In this film metaphor, those who feast on other living kindred are the lions. Their prey are large herds of water buffaloes living on grass plains, at peace with their kin. They do not kill to live. The game wardens and tourists who witnessed these scenes are observers or, in this parable, clear stand ins for regulators and the public.
Part one is just over four minutes. The stealth approach, the pack attacks and captures a small defenseless youngster. The helpless calf is thrown into a river, where two crocodiles decide the prey should be theirs, not this land bound pride’s.
The action is quick. The situation dire. The calf’s fate seems sealed. All the onlookers agree this is a hopeless situation. Another successful kill. Moral outrage, anger and even sympathy provide no recourse. This is the law of the jungle in full view.
(https://youtu.be/WXJmvlIckfI)
The calve’s life is over. The lions lay down to savor their feast. No help can come now. It is far too late and certainly life-dangerous to interfere. The end has come. . . or has it?
Here is part two. Also just four minues.
(https://youtu.be/u1Rt17QglXY)
The adults in the herd, those who cared about their offspring and know the ways of the jungle acted-on the spot
After initially running away, they regrouped, collectively, and attacked. They first circle and then go after the herd’s predators one at a time. Angry bulls leading the charge. They then cleared the killing field of any stragglers.
The onlookers are amazed. Even the safari wardens say they have only seen this on film. While unusual the response is not unknown. It’s instinctive when one’s entire future is at stake.
The response of the water buffalo herd, is what Orwell and Jim Blaine hoped to arouse with their Animal Farm prose imagery.
In this film allegory, these animals understand how to deal with their stronger predatory jungle inhabitants. If they can work to protect each other, it would seem credit union leaders should be able to turn back their avaricious members feasting on their coop peers via mergers.
In most credit unions, mergers are a matter of life and death of the organization. If you don’t think so, just ask any of the 41 credit union leaders merged in the third quarter of 2025. Oh, you can’t because they are now under someone else’s control.
It’s time for the cooperative herd to act. If not, only the pigs and lions will be the future of the movement.
