This week’s blogs are video excerpts of wisdom from prior credit union leaders. (best seen in browser mode)
They still speak to our present circumstances as their core messages are timeless.
One legacy practice Jim Blaine believes is core to the cooperative model is a common rate for all borrowers. He believes risk based lending pricing discriminates against those who most rely on the cooperative difference.
In this three minute video from 2010 he provides his logic. Although retired in 2017, he continues to expand his arguments with examples in his current blog SECU-Just Asking.
One interpretation of Jim’s approach is in this 2010 GAC interview with Wayne Vann, CEO of NavyArmy Credit Union (now Rally CU). His two keys: putting a pulse to every loan and the autonomy of lenders to make decisions. (1.14 minutes)
(https://www.youtube.com/watch?v=rSXa3T8iGTY)