Each month several CEO’s send me their monthly staff updates. These discuss the latest financial results, status of key projects, employee information, milestones and external event engagements.
These provide valuable local examples in a movement often described by the latest financial numbers, the next big merger (or bank buy) or a grand new marketing partnership with a professional sports team.
Despite radically different asset sizes, these reports share one common opening, retelling a member service story or two. The CEO’s use these to demonstrate the culture they want the credit union to uphold. Here is an event triggered by a rollover IRA request.
Demonstrating our Purpose
Recently, Carrie visited our member center seeking help to transfer an IRA from another bank. She appeared frazzled and unsure about the steps she needed to take. Through patience, empathy, and active listening, we began to uncover the deeper reasons behind her unease.
She shared that her husband had passed away unexpectedly in his sleep the day after Father’s Day. He had not been sick. His death had blindsided their family.
Left to navigate the aftermath, she was overwhelmed by the financial responsibilities suddenly resting on her shoulders. She needed to transfer her husband’s IRA, open a new rollover account to avoid penalties, and manage the yearend timelines and logistics — all while grappling with profound grief.
As she spoke, it was clear she was struggling. The holidays had been particularly painful for her children. With the new year just a few days away, she felt the weight of 2024 closing and the uncertainties of 2025 looming ahead.
Jackie and her colleague, Becky, guided Carrie through every step of the process. They explained the IRA transfer, the required paperwork, and timing to ensure everything was completed smoothly.
But more than that, they gave her space to share her story, her fears, and her heartache. They listened as she reflected on her loss and the daunting responsibility of building a future for her family without her best friend and soulmate by her side.
Before she left, they gave her their contact information, assuring her that she could reach out anytime she felt overwhelmed. Jackie committed to following up with her to confirm everything was in place and to check on her progress.
When Carrie walked out of the member center, she carried herself differently—less burdened, more focused. She deeply appreciated all the support, knowing she was not alone in navigating these challenges. She felt she had a team behind her ready to help.
This experience is a reminder of the profound impact we can have when we combine our financial expertise with genuine care and compassion. It is moments like these that underscore the importance of what we do: being there for our members as trusted partners during life’s most difficult transitions. Thank you Jackie and Becky for this great effort demonstrating our purpose.
My Takeaway
As future options of the credit unions system come under debate In DC with the new administration, how do we present the credit union difference? I believe it is with stories about our member-owner mission. It is the difference we make in members’ lives that make cooperatives special.
PS: In case you assume this must be a smaller credit union, the CEO leads a $10 billion coop serving over 500,000 members.