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.
Putting members at the center of a credit union’s story is an art. When done well, it reinforces the fundamental cooperative difference, especially when an integral part of the public message.
One credit union that does this with great skill is Whitefish Credit Union in Whitefish, MT.
Below is a recent example of their unique video series. These member centered short films portray individuals’ special interests, the natural landscape of the area, and a broad community purpose being served.
Following is a story by a founder of the Back Country Horsemen on this non-profit’s 50th anniversary. Their example has extended across the country. As one person remarks, every state has its own “back country,” even Delaware.
The video makes you want to saddle up and be a part of this ride with this credit union.
(https://www.youtube.com/watch?v=wodQNsu5fSQ)
Just as St. Patrick brought Christianity to Ireland, Ed Callahan brought his Irish heritage to his many leadership roles with America’s Credit Unions.
His contributions were consequential for decades forward for every organization with which he engaged.
Many credit union leaders today never met Ed who died on March 18, 2009, shortly after the last call on St. Patrick’s day. He lived his Irish heritage with a family of eight children and a first career as a math teacher, coach and principal in the Catholic school system.
His three years and eight months as Chair of NCUA (1981-1985) positioned both credit unions and NCUA for resilience for generations to come.
Ed believed in relationships. He nurtured these in hundreds of personal contacts. When NCUA chair, he would sit outside the Hilton Hotel’s conference level cafe during the annual GAC and hold court with everyone walking in and out of the main hall. For hours at each session.
He demonstrated time and again that the greatest credit union competitive advantage was collaboration. He used this capability to initiate the largest conference of examiners, regulators and credit unions ever held in December 1984 in Las Vegas. Organized and led by NCUA, more than 4,000 examiners, regulators and credit unions met to share ideas and experiences about the future of the cooperative system.
After co-founding and leading Callahan & Associates from 1985-1987, Ed became a credit union CEO. When he arrived at Patelco in October 1987, it was the 34th largest credit union in America. Fifteen years later at his retirement, it was number 10.
Another element of Irish lore is the constant struggle for freedom in the country’s long relationship with Great Britain. Freedom requires individual responsibility and organizational unity.
Ed explained the policy of deregulation as placing responsibility for fundamental business decisions in the hands of the board and management, not government. Self-help and community, woven into every aspect of Irish history, are fundamental to credit union success.
In a speech called The Three Freedoms to the Massachusetts CUNA annual meeting in November 1984 he outlined how the credit unon system contributed to the country’s ongoing efforts for freedom.
One person who portrayed Ed’s Irish roots and forceful personality is Jim Blaine, former CEO of State Empyees CU (NC). This is his Look Back from March 2016.
by Jim Blaine
Always suspected that the problem with Ed Callahan was that as a youth he was beaten too often by Nuns in parochial school or, perhaps, not beaten enough. Well, whatever, either way the Nuns left their mark – an indomitable spirit!
Ed Callahan was Irish – brash, pugnacious, loud, hard drinking, fun loving – alive! But why be redundant? I said he was Irish!
For over a quarter of a century, we all watched and observed as Ed Callahan created shock waves in the credit union world. No one was neutral about Ed Callahan. His friends were fiercely loyal, his enemies equally committed. Ed inspired many and angered quite a few. Ed had style; he had presence. With Ed, you weren’t allowed to make contact without becoming involved, excited, immersed, engaged.
At Marquette, Ed must have played football in the same way he played life – without a helmet. You had no doubt that Ed Callahan always played for keeps. He had no intentions of losing, that was not one of the options. Ed was very straight-forward; your choices were always clear. The mission was defined; and, there was only one direct path to the goal. That path was either with you, around you, over you, under you, or through you; you could step aside or get on board. It was your choice; but your choice never changed the mission, nor the path, nor the goal.
Some said that Ed was a visionary…
… they were wrong. Ed Callahan was a revolutionary. Visionaries talk about change, revolutionaries take you there. Ed led from the front – a leader of conviction, rather than convenience; principles above posture – courageous. Revolutionaries, by definition, create problems; overturn applecarts; rebuke the status quo. That happened at NCUA. Appointed by President Reagan, Ed arrived at NCUA in the midst of turmoil. Ed defined the mission; he reformed and remolded the Agency. He taught a regulatory agency how to stop working to prevent the last crisis. He explained that a coach never executes a play and that on Monday morning it’s never hard to see what went wrong – but it is rarely relevant. Teacher, coach, lessons in life; hopefully well learned, hopefully still remembered.
But let me celebrate the essence of the man – that indomitable spirit – one last time, for those who never had the opportunity; for those who still have doubts; for those who never fully understood. One of Ed’s harshest critics, noted with much wryness, that even in death Ed “couldn’t get it right”. Why, I asked? “Because Callahan died on March 18th instead of on the 17th, his beloved St. Patrick’s Day.” You know this type of critic – cynical, smug, self-assured without much basis, not really worth the effort, but…
Just for the record, I would simply like to point out one final time that – first and foremost – Ed Callahan was a fully-fledged, fully-flagrant Irishman – body and soul! And, no self-respecting Irishman would ever celebrate the end of St. Patrick’s Day until the last bell at the pub had rung. That would have meant that Ed Callahan’s “last call” would have come sometime after 4:00 am – on the morning of the 18th. Style, presence, courage – true to the last! A shamrock of joyful vigor and purpose!
And one last thought… in the final analysis you can say many things about a great man’s life… some men are admired, some are respected, some are envied, some are feared… and countless other adjectives and accolades. But, in the final analysis, the most important thing you can say about a great man is… he will be missed.
And, Ed Callahan will be missed…
Job evaluations must be objective or else they wouldn’t be fair. And, life is not fair, so where does that leave us? Ever thought about that?
Some consultant, some robusterian behavioral wizard, some unfathomable, “deep space” PhD, some “afraid-they’re-gonna-sue” compliance officer has stuck the rest of us with this required annual ritual.
 |
| “You’re really are… well… just incredible! |
What a lie! But, here’s the most honest – and perhaps the only honest – evaluation I’ve ever read:
Employee Response: I feel I get as much work done as anyone else in the department – more in some cases.
Employee Response: I expect things to be right or not at all.
Employee Response: I like to plan my work and work my plan.
Employee Response: I’m always on time unless something happens.
Employee Response: I get along with everyone. I rarely start it.
Employee Response: I have plenty of common sense. I don’t try to fix the wrong problem.
Employee Response: I have been known to have a fit but usually I can handle the pressure.
Employee Response: I keep my personality in order. I have earned a reputation I deserve.
Employee Response: I can tell things the way they are.
Employee Response: My judgment is as good as the next one. I’m always pretty sure of everything.
Employee Response: I am a very dependable person. I was raised this way.
Employee Response: I try to set a good example. I’m willing to eat my own cooking.
Employee Response: I’m not one to be lazy. I know what to do when I see a wrecker with the hood up.
This is a reprint of a March 6, story by WTOP news radio for Washington, D.C. This is typical of many reports interviewing current employees.
One must wonder how NCUA staff is feeling and thinking about their future. For credit unions who have federal employees as members, now is the time to reach out and prepare a helping hand. Remember, these are the owners, not customers.
Some U.S. Fish and Wildlife Service workers were recently advised by a superior to ensure they have their latest pay stubs and whole records saved, in the event they’re among the next federal workers to be fired.
Workers would only have 30 minutes to compile everything in the event their access card is deactivated. It’s better to be prepared, he told staff, than to be fired and have personal items remaining in the office afterward.
As President Donald Trump’s administration and the “Department of Government Efficiency,” make changes to the federal workforce, some staff members at the U.S. Fish and Wildlife Service are on edge.
They’re keeping bags near their desks so they can be prepared, according to one worker who grew up in Southeast D.C. and currently works for the agency. She asked not to be named in order to speak freely.
“It’s just hard to imagine what it’s going to be like to walk away from this,” she said.
The agency oversees biosecurity, helping to determine what animals and plants should be brought to various parts of the country. Workers are also tasked with protecting endangered species and upholding the Endangered Species Act. A worker preventing an animal infestation of planes and parts was among those who was fired, she said.
But recently, she said, 20% to 30% of her colleagues have lost their jobs, putting that mission in jeopardy. Their access cards stopped working, and they received a termination letter that cited poor performance, she said.
When the deferred resignation offer came out, she overheard one of her coworkers asking whether he should trust the message. She advised him not to, but another colleague recommended she tone down the skepticism.
Some agencies have pushed back on some of the administration’s directives, she said, and the Fish and Wildlife Service has had meetings about how to handle memos and executive orders.
“Our meetings are like, ‘Well, let’s take some mindfulness time. We all have to care for you,’” she said.
She and her colleagues have also taken issue with the way some of the administration’s memos have been worded.
“’You’re a drain on the public, and they voted, they’ve made their choice clear, and they don’t want you,’” she said. “I mean, that’s essentially the way these memos open.”
DOGE’s approach, she said, starts from the assumption that there are too many workers, “and we’re just going to fire people, and that’s going to solve the problem.”
She’s tried offering some of her desk items to her colleagues, but they won’t accept, fearful that they might not have a desk soon.
“The morale is not great,” she said.
In the midst of all the uncertainty, “I don’t expect to be employed.”
Ryan Tracy is a former Wall Street Journal Reporter and now a freelance financial reporter.
His interview with Chair Kyle Hauptman in February was published February 28, in the Capital Account, a paid subscription service. The full interview was provided by NCUA’s public affairs office as published in the newsletter.
The Q and A is very candid and covers most of the top regulatory issues from taxation, to bank purchases and OD fees. Hauptman is asked about his future plans. There were no questions on the state of the industry or specific credit union performance topics.
Please post your reactions or questions you might like to see asked in the comments section at the end of the article.
Friday Q and A: This is a singular moment to be in charge of a financial regulator. In just five weeks, the president has issued a flurry of orders to federal agencies, calling on them to reduce their staffing, bring employees back to the office and start running all their major actions through the White House. The very idea of an “independent agency” has been called into question.
This week, we sat down with one of the new Trump administration officials grappling with those directives. Kyle Hauptman was tapped by the president soon after the inauguration to head the NCUA, where he’s been on the board since 2020.
The promotion doesn’t exactly mean he’s fully in charge: The other two members are both Democrats, putting him in an unusual spot. Still, Hauptman is no stranger to jobs that come with challenges. His office decor includes a frame preserving two of his old business cards, one from Lehman Brothers where he worked until 2008 and another from Mitt Romney’s ill-fated campaign for president.
Hauptman’s response to Trump’s executive orders is pretty simple. He plans to comply. But he also explains how the credit union overseer’s track record is a bit different than other financial watchdogs. . . One top goal: stamping out regulation by enforcement. What follows is our (lightly edited and condensed) conversation.
(subheads added)
Capitol Account: How do you describe the NCUA for people who don’t know what it is?
Kyle Hauptman: When I’m at conferences, like with fintech, I say it over and over again: `You know what the FDIC is for banks?’ It’s like that, except that we insure about 4,500 credit unions – and are the regulator for about two-thirds of those…The rest are state chartered. There’s about the same number of credit unions and banks in America…but there’s 10 times as much money in the bank system…There’s no such thing as a trillion dollar credit union.
CA: How did you get into this job? You worked in finance earlier, and then on Capitol Hill.
KH: I’m a career switcher, and one of those people who is finally doing what they should be doing. I was a bond trader for years. I was mediocre at it…My first love was always policy and politics.
CA: You were working at Lehman Brothers when it filed for bankruptcy in 2008? Did that drive you back to Washington?
KH: Being at Lehman during the collapse reignited my interest in policy, [by seeing] just how D.C.-dependent those final weeks and months and days were.
CA: You’re now the chairman of a three-person board, with the other two members being Democrats. How are you approaching it?
KH: This place wasn’t all that partisan to start with, but it definitely changes some of my priorities in terms of what’s feasible. There’s some internal things that I think we can get done. I’ve noticed with all the executive orders, talking to other agencies, that some of them vest a lot of power in the chair. [The NCUA] is more board-centric.
CA: How are you handling Trump’s executive orders?
KH: We’re just going through them one by one, complying. Not trying to get in the news.
CA: Is the sheer volume of the directives overwhelming?
KH: We do what we have to do. They provide some opportunities for us too.
CA: One of the orders tells independent agencies to run their rules and legal interpretations through the OMB. Some people have described that as a sea change. How do you assess it?
KH: My plan is to comply…My guess is for the short term, the administration would probably like any rules that I put through. On the other hand, I don’t know, given [that] I’m a minority chairman, there will be particularly impactful rulemakings happening or ones that would be controversial.
CA: How are NCUA employees handling the return to office mandate?
KH: We’re a little different than other agencies…the majority of our staff is what the government calls mobile workforce. Meaning they’re not supposed to be in an office.
CA: What’s their job?
KH: Examiners. They’re in all 50 states…They’re not supposed to be in a chair at a desk any more than a park ranger or a lifeguard at a national seashore… We only have three physical offices in this country, Tempe, Austin and here.
CA: How many people work in your Northern Virginia headquarters?
KH: Put aside contractors, I believe about 650…We’re about 1,200 employees [overall].
CA: This is the first week workers at NCUA are back full-time. What are you hearing?
KH: It’s definitely a change for some because, outside of the Covid period where the office was literally locked…anybody who wanted to be in the office always could. So [the return] would only affect those who obviously didn’t want to be.
CA: Do you think you’re going to lose people?
KH: Possibly…I don’t have any data yet.
CA: What’s your view on how NCUA fits in with the administration’s broader push to streamline the administrative state?
KH: At least at the financial regulators, there’s a perception [that] some of them got out over their skis versus what they were statutorily required to do. We are above all things an insurer. So as an insurer, we don’t have any incentive to do [things like] regulation by enforcement.
CA: What do you mean by that?
KH: We have no interest in having credit unions have reduced capital, which is what would happen if you fine them $50 million for something. They may deserve it, but they’re down $50 million in capital. That’s the same as $50 million of loans that went bad they had to write off. Some of the problems I think the administration is trying to root out were less of an issue here.
CA: Industry has spent the past four years complaining about the Biden financial regulators taking an enforcement-first approach. Do you see that changing now?
KH: There [are] two kinds of regulators: honest ones and ones that do regulation by enforcement…Myself, and I know some of my new colleagues who are running other regulators believe that in America, the sequence of events is: Write rules, then enforce them.
CA: Have you run into other agencies doing things that you’d call regulation via enforcement?
KH: There was a settlement between the [CFPB] and Wells Fargo. And in the settlement, Wells Fargo had to, regardless of state law, deal with auto loans a certain way…Our examiners and credit unions were saying, okay, is this the new policy?
CA: Was it?
KH: I asked the CFPB…What do I tell my examiners, and what do we tell the credit unions? And the answer was, ‘Send them the Wells Fargo settlement and a link to our supervisory priorities.’
CA: The upshot is they should have issued a rule?
KH: Not one employee of any regulator would think it was fair, if you got pulled over for a speeding ticket and said, ‘What’s the speed limit, officer?’ And he said, ‘Oh no, there’s no speed limit posted. A year ago, someone you never heard of got a ticket and you were supposed to be aware of how that applied to you.’ That’s not how it’s supposed to be.
CA: What do you think of how the NCUA approached digital assets over the last few years?
KH: I’m proud that we are not part of [or] even talked about in Operation Choke Point 2.0 [concerning debanking allegations]. No one’s mentioning us.
CA: How about on the policy side?
KH: We put out two pieces of positive guidance, which during the last four years were two more than anybody else put out…The other banking agencies put out something that caused a lot of harm. [The policy] said you must get written notice of non-disapproval before engaging in – and then it had a fairly broad list – distributed ledger technology, digital assets. I know that banks went pencils down.
CA: Are you in favor of credit unions dabbling in digital assets?
KH: I’m pro-what this country’s about, which is people innovating and experimenting. There’s going to be problems…Every country in the world has auto fatalities. Only some of them have auto industries. The negatives that come from new technologies are certainly going to exist. I don’t mean to minimize them…but the worst thing that can happen is to get all the downside and very little of the upside.
CA: Your Democratic predecessor set a new requirement, which you opposed, that larger credit unions publicly disclose the income they receive from overdraft fees. Will you change that?
KH: That is my goal.
CA: Isn’t more transparency a good thing?
KH: There [are several] constituencies for publicly putting the gross dollar amount [out]. Number one are journalists, to write click-bait articles that are often devoid of any business or economic sense. The second is people who get political benefit for claiming they’re helping consumers. The third would be law firms that want to charge money. I’m not aware, as a fiduciary of our Share Insurance Fund, that my job is to do the bidding of any of those three groups. We like non-interest income.
CA: What’s your take on the efforts to cut so-called junk fees?
KH: The people promoting these policies will be last in line to help you when you’re short on money…Government itself far and away charges the highest late fees if you’re short on money. Treats you the worst. And it’s not even close.
CA: What’s the impact on credit unions?
KH: Some have eliminated [overdraft] fees entirely, and that’s their prerogative…What they don’t need is somebody [in] the nation’s capital trying to shame them one way or the other.
CA: Credit unions have been buying more and more banks, a trend that has provoked a lot of opposition, especially from community lenders. How does the NCUA deal with mergers?
KH: Our sole role is [to determine]: does the acquisition present a threat to our insurance fund?
CA: The banking industry says that these deals underscore how credit unions get too many tax and regulatory exemptions.
KH: With banks and credit unions, I don’t get involved in any of that back and forth. If the president had, four years ago, suggested I work at the FDIC instead of here, I would’ve considered that. But unless you have more pull than I do. you don’t get to pick and choose what appointments come your way.
CA: So you’re staying out of the fight?
KH: Banks have significant advantages over credit unions, and credit unions have advantages over banks. Banks have higher interest rates that they’re allowed to charge. Credit unions have a lower interest rate cap. Banks can use stock, which is the preferable way to do acquisitions. We know this because 90 percent of bank acquisitions are done using stock.
CA: What about the tax issue?
KH: Some credit unions wind up having as much tax paid as banks. Because if they distribute all of their net income to their members, then that’s basically an S Corp. They’re all paying individual income tax on that…A credit union has an advantage in that if they retain some of that, they don’t pay corporate income tax on that. However, by definition, the issue…has lessened with a 21 percent corporate income tax rate, rather than 35.
CA: There have also been a lot of complaints about credit unions expanding their field of membership – the legal definition of who can join the institution.
KH: Some states like New York have very broad fields of membership. They make it very broad: If you are a mammal that walks upright on your hind legs and you live in the state, you can be a member. That’s a state issue. That’s their prerogative.
CA: What’s your take?
KH: As a general matter the further you get from a focused community, you lose the credit union touch. Because the reason that…delinquencies are lower for what looks like a certain credit risk is because it’s inside the community – a fellow church member, a fellow member of your immigrant community.
CA: What’s an example?
KH: There are nine, I believe, ethnic Ukrainian credit unions…40 percent of their customer service calls are in Russian or Ukrainian. The Ukrainian refugees coming over since the war [don’t speak] English, are unemployed, credit invisible. Everyone would turn them down…The Ukrainian credit unions not only are giving them checking accounts – share accounts is what they call them – but unsecured credit cards. And these folks are doing what new immigrants have always done. They’re driving for Uber Eats and hustling and doing jobs – and they have lower delinquency rates than the average…That is the credit union difference right there.
CA: Your term ends in about six months, that’s a pretty short time to be in charge. Do you want to be reappointed?
KH: I think there are a lot of great candidates out there that deserve a shot.
CA: What does that mean?
KH: I don’t plan on leaving for the foreseeable future…The person I took over the seat for was there 17 months after the term ended…I’m going to assume I’ll stick around as long as feasible for my replacement to come. I would be flattered, but I’ve made clear that I’ll do something else with my life and that there are other people who deserve a shot.
CA: What do you do when you’re not running an agency?
KH: I have a 4-year-old who keeps me busy…He comes in here once in a while, and he’s figured out which offices have candy and which ones don’t.
This past week I have witnessed four grassroots fund raising for the Ukrainian people in my local area.
The first was a meeting (during the GAC conference) for the Polish credit union charity Via Stella. The credit union attendees immediately pledged $50,000. St. Andrews Ukrainian Orthodox asked for $2,000 to buy 100 tourniquents for civilian wounded in air strikes. St. John’s Norwood identified six projects totalling $12,000. The Kiev Independent requested donations to distribute their film documentary on war medics to six European capital cities.
The American public, despite Trump’s rhetoric and actions, know whose side they are on.
The poet Robert Burns wrote this famous plea, “O wad some Power the giftie gie us, to see oursels as ithers see us!“
Here is how a French Senator sees the American government’s actions versus Ukraine and Europe this past two weeks. On March 5, in French, with English subtitles:
https://x.com/JaneMayerNYer/status/1897648340256412022
The one message Putin fears the most from America. It may be old-fashioned, but clear, simple and effective.
A GAC credit union walks the hill:
I was only at GAC for 48 hours and spent most of time with current vendors and team. Record numbers of people so the economy seems fine even with a lot of uncertainty in the air.
Senator Angus King talked a lot about the constitution and how Trump is concentrating that power in him like a King or Dictator. Our fore- fathers didn’t want one person to hold all the cards so to speak. Lol
Gonna be a wild ride esp with the upcoming potential for a govt shutdown. That will move the stock market. Our legislators did not paint a rosy picture at all for what the rest of the year looks like and that includes Susan Collins (Senator).
P:lease send impressions of your GAC hill visits for a perspective on Congress. I will share with readers.
During this week’s GAC meetings the three NCUA board members discussed their view on potential Trump administration’s efforts to limit the NCUA’s independent agency status.
Board member Otsuka’s full speech is online. The two other board members’ comments are from interviews reported in the press.
All three took the same Oath of office to “well and faithfully discharge the duties of the office” which each now holds.
Here are their remarks on their obligation to the agency’s Independence.
Congress has entrusted the NCUA with the responsibility to protect credit union members and the credit union system, and our ability to do so depends on a strong, independent agency, . .
Our independence is critical to maintaining confidence and stability in the credit union system. . .
NCUA understands the unique characteristics of credit unions and their members. Our independence from politics and distinction from other financial regulators allows us to focus on what matters to the credit union system.
. . .credit unions must continue to show the American people what the credit union difference means and live up to the mantra of “people helping people.” . . Too much is at stake to be seen as no different than a bank or a tech company or any other financial institution. The credit union difference is the ultimate competitive advantage.
Harper told the DCUC’s Defense Matters meeting that the “NCUA board is going through some reconsiderations of how we are going to change the agency and what we are going to do. That’s what a new administration is and does. I’m confident we will get through this as a different NCUA but a strong NCUA.”
From CUSO Magazine coverage: “Hauptman sat down with Nussle to discuss not only the regulatory concerns of credit unions and his priorities as Board Chairman, but also the uncertain future of the NCUA itself, as executive orders threaten its ability to operate as an independent regulator and as speculation of consolidation calls the fate of the organization into question.
“On the topic of the NCUA’s future, Hauptman declined to speculate or advocate for one outcome or another, noting that while he does not shy away from controversial topics, he keeps himself from getting into debates when he has no authority over the outcome. The fate of the NCUA, he argues, is outside his control and lies in the hands of Congress and the White House:
“Congress created the NCUA in 1970, and there were 27,000 credit unions operating before then…my only view on it is that it is important for people to understand that credit unions are different. So whoever in the future is going to be regulating needs to be aware of this.”
From another news report: Hauptman also briefly addressed rumors that financial regulators could be consolidated, emphasizing that although he has “zero authority over this,” he’s not in favor of it.
There is much difference in the role that NCUA board members see for themselves to ensure the agency’s future independence.
Otsuka is the most clear and determined in her view. She aligns this position as essential for credit union’s to maintain their “difference” which she calls their “competitive advantage.”
Board Chair Hauptman is also clear. It’s not my issue. It’s up to Congress.
Harper takes no overt position except to predict a stronger NCUA, Once again displaying his adept use of the intentionally imprecise comment.
There were many topics raised at GAC clamoring for credit union’s attention and backing-from taxation to overdraft fee disclosures.
In almost all the most consequential topics, the outcome for credit unions will be decided by their political influence as manifested by their members’ actions not lobbying capacity.
Sooner or later some element of NCUA’s independent authority will arise. Who can the credit union system count on to support their point of view of NCUA’s status?
Telling stories is a leadership art. They stick in our minds much longer than financial performance numbers or rhetorical marketing phrases.
They present authentic moments from real life situations with which all can relate.
Stories honor individual actions and illustrate the special service culture of a credit union.
One would also hope these are part of the messages shared with congressional staffs during Hill visits this week.
Here are two examples from WEOKIE CU’s CEO’s monthly staff update.
“David, a non-member, applied for a loan with 599 credit score. This app would have been easy to decline and move on due to his poor and limited credit. Wanda and Kyla worked together to figure out why he had such challenging credit.
“He has a great career with plenty of income. Long story short he had to spend some time in the hospital which caused a lot of medial debt and insurance was not cooperating. We were able to help him get an auto loan and hopefully, we created a member for life.”
(a member’s note)
“To whom it may concern: I have had the pleasure of working with Shirley for several days now. I just want to tell you that she is a breath of fresh air to customers!
Shirley went way out of her way to help me, while the other bank did everything they could do to cause problems. She initiated a 3-way call that helped solve the problems the other bank was trying to create. You rarely see this type of customer service anymore, Shirley is one of the best problem solvers I have ever seen. Just a note to whom it concern: she is a keeper!”
The CEO describes these efforts to take great care of members as follows:
Changemakers are individuals dedicated to positively impacting the people and places around them. They are often seen as visionary, collaborative, purposeful, and empathetic. They possess critical thinking and problem solving skills as a prerequisite.
No challenge is too big, every story is relevant, and every person has a purpose. Changemakers live the mission of changing the lives in our communities, one person at a time by being the best place our employees ever worked, and the best place our members have ever banked.
Yesterday I attended a briefing on the work of Via Stella, a Polish charity supported by the World Council of Credit Unions.
The meeting was held at Ukraine House in Washington, DC. Over 50 credit union people attended, including CEOs from the Polish and Ukrainian Self-Reliance credit union communities and multiple other credit union organizations and individuals.
The Foundation supports the millions of Ukrainian refugees in Poland with a three part “Pathway to Safety” program. These steps include the safe evacuation from the country especially for women, children and the elderly; finding housing, education and jobs; and providing financial support via the Polish credit union system. All funds go directly for these efforts; there is no overhead.
In an ad hoc, spontaneous fund raising moment, over $50,000 more was pledged in less than five minutes. The effort was initiated by credit union software entrepreneur Jay Mossman who pledged $25,000. He urged attendees to match his initiative. It was done quickly by the CEOs, directors and the board members of Via Stella.
There was no dwelling on the recent White House confrontation. There is no ambivalence about the circumstances of this war. The purpose was solely to demonstrate the American people’s support for Ukraine. This they did.
Their view, and the majority of Americans’ understanding of events, is shown in this front page New York Post headline.
This effort speaks louder than words. For all that is said during the Governmental Affairs Conference (GAC) underway now, in the end what is done is what matters.