Photo from a third generation credit union family.
However, will there be an option of a member-owned cooperative in her future? Her mom and dad and grandparents have worked in credit unions for most of their professional lives.
This week I will write about some of the internal challenges facing the movement.
Coincidentally, Jim Blaine is beginning a series-Consider This– of forceful posts on what makes the credit unions unique. It is a good primer for those who cannot attend a DEI week.
His first “chapter” in the series is called The Difference. The next is The Difference is Real. The third discusses “genericide” or The Kleenex Dilemma. A brief excerpt:
What is “The Kleenex Dilemma” for SECU as a credit union? Like it or not, try as you might, when an SECU member is asked: “Where do you “bank”?, the member will invariably say “At the credit union!” See the problem? The word “bank” owns the financial institution category in the mind of the public – and that probably is not going to change any time soon.
So, what has SECU done about the kleenex problem?. . .
His target audience is the entire SECU family, especially the board. These posts would be a helpful resource and live case study for any credit union volunteer-paid or unpaid, every industry regulator (especially NCUA) and of course the public.
If we want our children and grand children to become “member-owners” I hope Jim’s logic and some examples this week of wayward activity may “steady” the movement on its course.