“The backbone of a credit union is lending. You blow the whole thing if you make too many mistakes here. Think back over the past 80 years of credit union history in America. Consider the outstanding credit unions. What sets them apart? I believe it is their lending programs. In the long run, the rise or fall of a credit union depends on the loans it makes.” (pg15)
Note: The Coach’s Playbook is a collection of observations by Ed Callahan. They are from his three decade career as a regulator (including Chairman of NCUA 1981-1985), co-founder of Callahan & Associates, and as CEO of Patelco. The book was published in 2006 by the Member Value Network.