From Ancin Cooley, Principal, Synergy Credit Union Consulting,Inc
Credit unions have never been a monolith—states differ, people differ, and the movement was built on distinct missions and visions coalescing under a cooperative umbrella. Yet today we’re presented with a veneer of homogeneity, as if there’s only one “right” path forward.
There’s nothing wrong with believing scale is the answer. But the bigger issue is the lack of open, rigorous debate. Too often, positions are communicated by proxy rather than by leaders stepping up to the mic, standing on a stage, or going on camera to assert their view—and defend it against alternatives with factual evidence.
Consolidation, mergers, acquisitions—if these are the strategies, say it plainly. And let’s create space for others who see the model differently to test those ideas in the open. That’s how cooperative strength was built and how it should evolve.
Agreed, but to say a potentially even more uncomfortable part out loud, do enough members actually care?
“One member, one vote” is a wonderful principle, but the participation rates in the majority of CU elections are woefully low. When turnout falls into the 15% range (or worse!) there’s a distinct danger of “the tyranny of the few” from a small, well organized clique (which may or may not be aligned with management), as we’ve seen in some local civic elections.
I’d like to think smaller CUs correlate with greater engagement/participation, but does the data bear that out?
Glen, I would like the NCUA to include level of democratic participation in their exams. I think all large credit unions should be required to make it easy for people to run for their board and run the election process through their digital banking platform.