The Power of Community

The strategic advantage that is the foundation of every credit union is its local roots.   Local does is not just a geographic focus.   It includes connections,  relationships, reputation and knowledge that extends back years, or even generations.

This advantage allows members to see the coop as part of their community.  It is a financial and physical presence that helps define the character and economic opportunities for their neighbors.

Unfortunately some actions can compromise this long standing presence, especially mergers which often eliminate any vestiges of a credit union’s roots.  No more local employment, direction, or participation in community life and leadership remains.   Only a virtual connection is left, which may serve some well, but others not at all.

An Example of Why Community Matters

Sometimes it is easier to see this critical role from another industry’s perspective.  The following is the story of both the demise and the resilience of local newspapers.   This editorial is from the October 23, 2024 Falls Church News Press.

This week is an especially sad one in the hometown of our editor.   Following the termination last year of the publication of the Santa Barbara News Press, after over 100 years, this week its remains were being sold off in an online auction, bit by bit, pennies for the dollar.

Meanwhile, the old Spanish Days-styled News-Press building downtown is gutted, like mugged stabbed and left for dead behind a dumpster where so much activity and discourse on the direction of the community took place daily for so many years.

A supporter of this News-Press for which this Falls Church one was named, and where our editor began writing while in high school, made the point last week talking about the importance of community newspapers:

It’s not just about news, per se, but about the dialogue on the interests and future of the community that is a local newspaper’s essential component. It isn’t about whether or not a newspaper’s slant or editorial content is agreed to or not, but it is the way in which the newspaper enters the homes of residents, by way of being gathered off the roof or out of a rose bush as tossed by a wayward delivery boy, and read and discussed for its contents in the  midst of the daily life  of the community which makes it so essential. 

It is the entry point for a community-wide dialogue involving everyone. It is a proxy for the community itself, as it were, its agora, or public meeting space as per the ancient Greek city-states, delivered ito every home where matters are fleshed out and elevated to everyone’s common interest and concern. 

This is what a newspaper is, and to be its best, it has to be in print form in full physical, sensual and tactile presence, to function most adequately and widely where no element of an entire community can be neglected or dismissed.  Also, at best it is the product of a member of that wider community, a citizen exercising a calling to provide the service in question according to the highest of principles, and not the government, to most effectively trigger that community engagement.

The Credit Union Parallels “When At Their Best”

While the functions of a local newspaper and financial institution are very different their contribution to a sense of community is similar.

The daily role and public need for local community financial institutions mirror many of the same contributions of a local newspaper.   The credit union’s presence is seen, it is locally directed by those who view their roles as volunteers or employees as a “calling.”  It is the collective for borrowing and savings by individuals and organizations to better their futures. Finance, like news, is an essential service.

Decisions made locally for the welfare of all give cooperatives a special function alongside the many other institutions vital for living and working together in common purpose.  By design they pay their success forward to benefit future generations.

(Note:  For a current example see press release, 717 Credit Union Launches “Forever Youngstown” Initiative)

These coop business virtues sustain both large and small credit unions.  They contribute to a sense of shared identity that is more than just geographic boundaries.  Financial services is a critical part of the fabric of any  community in which individuals choose to establish their identify and live their lives.

When credit unions make this contribution they are showing their”best selves.” Unfortunately other motivations and temptations can come along that  negate these cooperative advantages. That situation will be the subject of a future case study.

 

Celebrating a CEO’s 48 Years at the Credit Union

On October 1 CEO Catherine Tierney  entered her 49th year with Community First Credit Union.  The Appleton, WI based coop is today  $5.8 billion in assets  serving 158,000 members with 29 branches and over 580 employees.

She posted this thank you on her LinkedIn page upon beginning her new year. I describe her post using her own words as, the gift of doing what you love:

“October 1st is a special day to me.

“Today marks a milestone of 48 incredible years at Community First Credit Union. It’s been a journey filled with growth, challenges, and countless memories that have shaped not only my professional life but my personal one too.

“From the early days of learning the business to now being part of this amazing organization’s transformation, I’m grateful for the opportunity to have worked alongside so many talented people who share the same dedication and passion for our members, our industry and our communities.

“Thank you to my colleagues, past and present, and to our loyal members for being part of this remarkable journey. Here’s to the gift of doing what you love and the joy that comes from making a difference together!”

From the archives I thought it would be helpful for people who may not met her to see how she and the credit union present their work.  Following are two examples of the joy making a difference together.

The first is a short excerpt of a Catherine interview from several decades ago about how the credit union employees are the first responders for identifying members in need:

(https://youtu.be/lzAN0HXXQBo)

This second video is a story how Community First helped a young couple get started in life when they didn’t think there was any way to adopt their son and then buy a home.

(https://www.youtube.com/watch?v=d6AQbDYSmpg)

Catherine’s long service of leadership with her team is an example of what credit unions do best for their members and communities.   All who believe in the difference credit unions can deliver, should be grateful for her two generations of professional member-centric commitment.

A Farming Town’s Fall Market

Fall, the time for harvest from the land.  Future Farmers of America’s (FFA) greenhouse in Rensselaer Central High School, Indiana.

“Growers for Life.” Fall mums for sale,  $10 each at the local Saturday farm market.

Pumpkins, the uniquely American fruit. Anything that starts from a flower is botanically a fruit.

Corn, all colors.

Gourds, technically fruits, but realistically fall table decoration.

An enormous sunflower head-a seed bank.

To Autumn by John Keats (1795-1821)

Season of mists and mellow fruitfulness,
  Close bosom-friend of the maturing sun;
Conspiring with him how to load and bless
  With fruit the vines that round the thatch-eves run;
To bend with apples the moss’d cottage-trees,
  And fill all fruit with ripeness to the core;
    To swell the gourd, and plump the hazel shells
  With a sweet kernel; to set budding more,
And still more, later flowers for the bees,
Until they think warm days will never cease,
    For summer has o’er-brimm’d their clammy cells.

From the Field: Credit Unions Empowering Members and Communities

A critical distinction of the cooperative model is its local advantage.  News commentators assert “all politics is local.”  Military leaders call this capacity “boots on the ground.”  Credit unions described this organizing concept as their field of membership.

When events and institutions affect where and how one lives, that makes their impact personal for individuals.  The capability of credit unions to be seen as a long standing participant of the community they serve, creates generations of loyalty. And in the examples below, superior performance.

Member Feedback at Day Air Credit Union, Dayton Ohio

As part of the net promoter score process, the credit union invites member comments on their experience.  Here are two member notes the CEO recently shared with his team:

Reenetry

1.Day Air Credit Union met me where I was in my walk after being a returning citizen through the Montgomery County reentry community. I was full of fear and didn’t know anything about handling finances or money or getting to where I needed to be in order to be able to get loans and start a business.

Day Air Credit Union along with several individuals from the Montgomery County reentry community helped me succeed in my walk and in my business. Thank you so very much.

Don’t Sell Out

2.You guys help me through a situation, that even though you knew how I got there, you knew it wasn’t my fault (100% my fault) … You guys knew it was technically fraud against me. You did not have to help me, but you did, so that deserves a 10 in my book.

It shows the character of the people in your organization. You guys really are there for your members, it’s kind of like what families and friends are supposed to be, no judgment just being there when someone needs them to be and just doing the right thing. even if that right thing is to just be there to listen about someone’s life that has turned into a freaking dumpster fire… really you guys have been great. You’ve got a customer for life. Unless you sellout; other than that, a 10 in my book.

Through August 2024, the $847 million Day Air reports an ROA of 1.47%, share growth of 7.54%, net worth of 13% and an operating expense/asset ratio of 2.43%.

Creating a Statewide Collection Effort for Food Banks

The following is a release from First Harvest  describing a New Jersey wide effort in which  credit unions will collect canned food donations for local food banks.  This ad hoc network effort relies on the dozens of local branches as drop off and collection centers.   Another example of the advantage of a local presence and personal interaction with members.

First Harvest Credit Union, Affinity Federal Credit Union, and EdiFi Credit Union have come together to launch the New Jersey Credit Unions Food Cooperative and have engaged 27 New Jersey credit unions to participate in the initiative and help address the growing hunger crisis in New Jersey.

All participating credit unions and their select branches will serve as collection locations, allowing for broader geographic coverage across New Jersey, which will support dozens of food pantries and organizations throughout the state.

The program runs from October 1 through November

To donate, credit union members and residents throughout New Jersey can find a participating credit union listed below, and its nearest branch to drop off non-perishable food items. Each credit union branch will directly support a food pantry or organization within the community it serves. 

First Harvest President & CEO Mike Dinneen notes: “As credit unions, we are always stronger when we partner together. New Jersey has over 130 credit unions, serving a wide variety of rural, urban and suburban communities. One thing that is consistent is the food and affordability crisis that is impacting all of our residents.

Credit unions have an inherent mission and proven ability to take the reins when there is a need to help those who are underserved or in need, and I am proud to stand with these amazing New Jersey credit union leaders and implement this important member-driven mission.”

 The twenty-seven participating credit unions are then listed.  Local matters. That is how most of us ground our lives and cooperate with others in community.

 

 

 

 

 

Learning about Duty- The Example of “Grandpa” George Morgan

In my 62nd Rensselaer high school reunion last week,  I saw again some of the benefits of living in a small, rural community.

The concept of duty to others. one’s community and the country is often experienced early in life.  While there are many organizational and institutional practices that present this concept, I believe personal example is often the most powerful teacher.

Duty to country in times of war is one of our most hallowed civic commitments.  Growing up, the draft made this a potential obligation for all.  Military service was widely recognized.  In the Jasper County historical record from 1900-1985 there is a brief description of the First Presbyterian Church. The article points out that the first post WW II minister called was a former Navy Chaplain.  One of his initial acts was to make a  list of the forty-three members who had served in WW II.

That seemed like a large number.  However the local library found the Jasper County Veteran’s office had a list of 1,295  men for WWII that had the DD214 (discharge from active duty) form on file. The Service Record Book of Men and Women of Rensselaer, Indiana and Community maintained by the local American Legion Auxiliary Dewey Biggs Unit, shows a total of 1,814 who were on active duty.

Jasper County’s last Survivor of the Civil War

I believe that personal example whether a family member, mentor or public individual has a great influence for how one considers duty to country especially in times of conflict.

An example of this service calling is the life of George Morgan, who died on April 16, 1945.  His obituary called him the Last Survivor of the Civil War.  According to records 935 men from Jasper County enlisted for the Union, from a population of 5,000.

And when comparing the proportions of men able to fight, Indiana contributed more soldiers than any other state to the Union.[14]

Following are excerpts from Morgan’s obituary by Lefty Clark the editor of the local daily, the Rensselaer Republican and republished in Vintage Views.

George Morgan, who left Rensselaer that sunny August 11, 1862, as a lad of 14 and one half years to lend his bit toward the preservation of a nation torn by internal strife died at the home of his daughter at an early hour Sunday April 15. . .

One day little George, not yet possessed of the beard that distinguishes the man, made his way to a recruiting office  and by a little hedging and evasion of questions, and self-admitted fibbing managed to make the recruiting officer believe that he was ready and well able to assume the burdens of a soldier.  George Morgan at the skimpy age of 14  and one half years was now a man and a soldier at that.  He had a uniform to prove it to his parents when he returned from hi stealthy visit to the “recruiting man.” It is not chronicled that any gret storm of disapproval came from the parents. . . 

Time’s haze prevents a complete description of his military career, but the unit was not too long in Laporte.  It was sent into the Tennessee Campaign wafter some duty in Kentucky.  “Grandpa” was a participant in the Battle of Chickamauga where the Union toll was heavy but its ranks victorious.  Following that there came many minor skirmishes for Little George Morgan and his comrades nd weeks of guerilla warfare with the sniping breaking out sporadically. 

And so it went through the years of 862, 1863 and 1864 andinto the final months of the war.  The kid of fourteen and one half years not approaching 17 was keeping right up with the rest of the veteran trooper as the triumphant 87th regiment joined Sherman’s March to the sea.  It was at a military center near Washington D.C. that Mr. Morgan received his discharge papers on June 10 following the cessation of hostilities. . .”Grandpa legged it for home via a box car assigned for the transportation of troops.  He finallyed arrived in Indianapolis after a laborious journey and from there rode the “covered cars” to Bradford after which he staged-coached to Rensselaer. 

The first thing he did after reaching Rensselaer he would say, “I struck right out for home across the fields, at a dog trot, and did not stop till I reached the house.”  He said he started shouting when within range of the house, but his booming call brought no answer.  The house was empty so he started for the field.  He discovered his mother picking strawberries.  “I got me a great big bowl of freshly picked berries, stopped at the milk house and got a pitcher of cream, helped myself out of one of the containers of the sugar bag and went to work.”

The county’s last Civil War Veteran now came to town to find himself a job of work.  In those formative industrial years, he was a blacksmith’s apprentice and then a full-fledged blacksmith.  However, his is bet known fas an artisan who worked at wood working, carriage making and carpentry.  And there was a long period that he was a millwright at what ws the Babcock Hopkins elevator in Rensselaer. . .

Mr. Morgan married Mary J. Morris of Rensselaer on July 27, 1870. . .

It is interesting to note that Mr. Morgan once saw the immortal Abraham Lincoln wen the troops were reviewed by President Lincoln near Washington D.C.  it is also interesting to note that Mr. Morgan died on the day that Franklin D. Roosevelt was being buried.    He participated in all presidential elections from 1872 on.  He cast his first such ballotin 1872 for Ulysses S. Grant, his commander during the Civil War.

Mr. Morgan was the sort of the personal property of every RensselaerIan.  He became known as “Grandpa.”  All loved him.  . . A kind man, a courageous man, s msn colored with the romantic days of the wilderness and with the present day.  He was idolized and cherished as the last representative of the treasured race of man-the Civil War soldiery. . .

One Person’s Life of Duty

So honored was “Grandpa” Morgan that the local newspaper would publish periodic updates on events in his life.  A July 1, 1890 a front page article reported that he had been granted a pension.   The story noted that he was the youngest of the three Morgan brothers to volunteer and concludes with this statement: “Although so young he was a thoroughly good soldier and never shirked his full sized share of the hardships and fighting.  He well deserves the pension he gets, and a good deal more.”

On February 14, 1945, the Rensselaer Republican’s  front page story was headlined, Time Marches On, So Does Grandpa.   It was Morgan’s 97th birthday.

Morgan’s life of duty: A person of 14 who volunteered for war, raised a family. worked in the community and voted in every presidential election from Grant to FDR.

In Rensselaer we saw and experienced first hand, daily, persons who lived responsively for their families, community and country.  It is these examples we all knew and helped shape who we would become—with our own personal sense of duty.

 

 

 

 

Jesse Owens’ Two Visits to Rensselaer

The first visit was on Friday December 17, 1937 at the National Guard Armory where he brought the professional basketball team, the Cleveland Olympians to play the Peerless Athletics from Lafayette.

The second was on April 16, 1959 to address the annual Hi-Y (high school YMCA) banquet in the Fellowship Hall at the Methodist Church.  My dad had invited Owens to speak.  I attended the event along with many of my high school sophomore classmates.

Owens’ Brief Biography

There are two extraordinary athletic achievements by Owens that are still celebrated today.

On May 25, 1935, he set three world records and tied a fourth in a span of 45 minutes during the Big Ten meet at Ferry Field in Ann Arbor, Michigan.

At the 1936 Olympic games he won four gold medals in three individual events and as a member of the 4 by 100 relay team.  This triumph has been memorialized in numerous films which celebrate a black American’s triumph in front of Hitler and his belief in the superiority of the Aryan race.

After the games, the entire Olympic team was invited to compete in Sweden. Owens decided to capitalize on his success by returning to the United States to take up some of the more lucrative endorsement offers. United States athletic officials were furious and withdrew his amateur status, which immediately ended his career.

Owens was angry and stated that “A fellow desires something for himself.” He argued that the racial discrimination he had faced throughout his athletic career, such as not being eligible for scholarships in college and therefore being unable to take classes between training and working to pay his way, meant he had to give up on amateur athletics in pursuit of financial gain elsewhere.

Owens struggled to find work and took on menial jobs as a gas station attendant, playground janitor, and manager of a dry cleaning firm and at times resorted to racing against motorbikes, cars, trucks and horses for a cash prize.

He was prohibited from making appearances at amateur sporting events to bolster his profile, and found  commercial offers had all but disappeared. In 1937, he briefly toured with a twelve-piece jazz band and made appearances at baseball games and other events.  Hence his trip to Rensselaer.

While in town he gave free autographs at the Rensselaer Republican’s news office.   During halftime at the basketball game he put on a running exhibition.  One youngster recalling the event years later said, “it was absolutely amazing, the speed Owens possessed.”

The Second Visit

Owens tried to make a living as a sports promoter, essentially an entertainer. “There was no television, no big advertising, no endorsements then. Not for a black man, anyway.”

Owens ran a dry cleaning business and worked as a gas station attendant to earn a living, but he eventually filed for bankruptcy. In 1966, he was successfully prosecuted for tax evasion.

At rock bottom, Republican President Dwight D. Eisenhower enlisted Owens as a goodwill ambassador in 1955 and sent him to India, the Philippines, and Malaya to promote physical exercise.  He also promoted American freedom and economic opportunity in the developing world.

Rensselaer’s 1959 Hi-Y banquet celebrated the service club’s students’ role in the community.  There were two groups, the seniors with dates and the junior Hi-Y members with their dads.  The Rensselaer Republican’s account of Owens’ remarks is brief.

“Mr. Owens told many of his experiences then made a dramatic appeal to the young men of the Hi-Y organizations to assume positions of leadership in the community for which their Hi-Y work prepares them.” 

Two Appearances, 22 Years Apart-Did They Matter?

Owens’ first appearance was as an entertainer trying to make a living in a segregated world cut off from the traditional sources of support for other Olympic athletes.  A local family of three generations, the Bausmans, connects these two events.

Slim Bausman, the grandfather, was a successful high school coach who took his son “Dode” to see Owens run at a meet in Soldier Field in Chicago.  Dode was an exceptional athlete who set the Rensselaer high school record in the 100 yard dash at 10.2 seconds that still stands today.  And just one second slower than Owen’s world record of 9.2 seconds.

Dode and his son, Gordon, attended the 1959 banquet at which Owens spoke.  Not as an entertainer, but as a representative of core American values and leadership.  Rensselaer had no black families.  The idea of civil rights and school de-segregation had no immediate resonance for this rural farming community.   Rather he was there expressing the best of what America could be.

Did Owens’ visit in 1959 make a difference?  Two years ago after another reunion,  a classmate, Dale Garriott, sent an email asking if I recalled when Owens came to Rensselaer—and how my Dad had taken all of us to the dinner.  Did I remember anything about the event?

At last week’s reunion I found the Republican news article and an earlier description of Owens’ first visit in Vintage Views, the publication of the Jasper County Historical Society.   At our Saturday evening dinner I sat with Gordy Bausman who still lives in Rensselaer and confirmed his father’s track record—but admitted the time had been equaled by three later runners. He also recalled the Hi-Y banquet.

Examples of sports excellence and more broadly leadership success, can leave a lasting impression on upcoming generations, especially when the speaker comes from a big city, like Chicago, to a small town.  It’s a special deal.

Another name stands out from the news article.   He was a senior, who gave the invocation as the Chaplain for Hi-Y. and sung in the boys quartet that evening. Richard Scharf lettered in all three high school sports-football, basketball, and track.  He was admitted to West Point, retired as a US Army colonel, completing 27 years of commissioned service. He earned a Master’s Degree in Civil Engineering and Economic Planning from Stanford University and was involved in architectural engineering and construction for 15 years.

In the an article on his later career, he announces his candidacy for a seat on the Dawson County Board of Commissioners, Georgia with this statement:

Scharf is also interested in the welfare of our next generation. “We need to ensure that we make provisions for the young people in the county,” he says, and asks, “How do we give them some options for the future?” 

A native of Indiana, Scharf says that he grew up in a small rural community, the son of a college coach and athletic director and, while he’s not a farmer, he “understands the rigors of those who provide for the rest of us.” 

As a board member, I will be an active and focused team player, able to add an experienced rational outlook on the infrastructure challenges we are facing and help the board remain focused on the community’s future. My goal is to do the right things to achieve long-term community viability.

An example of a leader’s ongoing contributions that Owens had spoken to, formed by his Rensselaer experiences.

 

 

 

Rensselaer’s  Welcoming Wagon

What makes a community for most is finding groups and activities  to which one can belong.  From the initial days as a Brownie or cub scout, to the morning coffee conversations at a local café in retirement, finding social connection makes life worth living.

In my recent high school reunion, some classmates meet for coffee every morning around the old St Joe College fountain on the edge of town.  Others volunteer at the library, the Historical Society or still attend church on Sundays.   Being with others after raising families or a lifetime of work is vital to one’s well-being.

The Founding of the Welcome Wagon

In November 1957 the town of Rensselaer formalized the process of welcoming new residents in an inaugural meeting forming a Welcome Wagon Club.   The monthly meetings were to greet the newest members in town and introduce them to some “pioneer” residents who could brief them on getting to know the city in a minimum of time.

The meeting was led by the club’s Hostess, Marietta Henry, a community leader who presented the newly formed organization’s  purpose.  Then several representatives described different aspects of the town.  George Long (owner of Long’s Drug store) gave a history of the city’s past.  Then Mayor Hanley talked about present-day Rensselaer.   Rev. Charles W. Filson (my dad) welcomed the group on behalf of the city’s churches.

The sixty-three attendees, most wearing their Sunday best, were then photographed with all the names listed below the picture.  In the foreground are welcome baskets filled with items from the town’s local merchants.

The Importance of  Being Welcoming

In many ways Rensselaer was and is a stable community.  Change does occur; however the economic farming base and land ownership does not lead to dramatic population turnover either in or out.  Bringing in new residents is still key to maintaining a viable economic and diverse demographic social base.

The Welcome Wagon is a concept inspired by the Conestoga “welcome wagons” that provided food and water to travelers moving west.  The concept was the basis for the organization founded in Memphis, Tennessee in 1928 by Thomas Briggs, Think of the Welcome (Wells Fargo) Wagon song from the Music Man which greeted Harold Hill’s band instrument delivery into town.

Small towns are more intimate than cities and suburbs.  Everybody knows most everyone else, or if necessary, someone who does know them.   Family history and connections will go back for three, even four generations.  One of the organizers of our reunion, where we are all at or near 80, still visits her mother daily who is 102.

Local  community groups and activities provide a grounding that can prepare one for life and importantly, opportunities beyond a small town.  For it is the values,  commitments, mentors and work ethic that will settle in and carry one into the bigger world beyond.

The learnings essential for life and a worldly welcome wherever one settles down are an enduring foundation for the graduates of small town America.

 

 

 

 

 

You Can’t Go Home Again

Or so said Thomas Wolf, the novelist.   But you can visit with the perspective of years and see what makes small towns in the Midwest a special place in many people’s lives

I just returned from my 62nd high school reunion in Rensselaer, IN.  A journey of nostalgia but also discovery and learning.  While I only lived there for five years, from middle school through the first 21/2 years of high school, they were formative in ways one can only see later.

At the moment two Vice Presidential candidates talk about their small-town roots.  One does so with joyful remembrances of people knowing and looking after each other.  An experience of community that orients one to what matters in life.  The second is a somewhat darker story of the problems and poverty in rural America.

My return visit was filled with multiple conversations with people continuing to make this farming town of around 5,000 a place for understanding how community matters and its role in instilling the  special American spirit of enterprise and duty.

I will share events such as the Friday Night Lights Senior recognition during half time at the Bomber’s football game vs. West Lafayette; the two visits Jesse Owens made to Rensselaer ; the grave of the first woman ordained in any part of the Methodist church in 1866; and Brigadier General Millroy who criticized the Union’s West Point Generals at the battle of Bull Run apparently in the presence of the President and the Secretary of War, Stanton.

The Worldly Education of Small-Town Life

Rich Kupke is not a name that readily comes to mind unless one recalls he was one of over 100 American hostages held for 444 days in Iran.   He came back home to a hero’s welcome in Indiana.  After retiring from the State Department he settled in Rensselaer where he had grown up and graduated from high school.

His return to Rensselaer is explained in this article about his post hostage  life:  Former Iranian Hostage Relishes Quieter Life Today

Even after his Iranian captors finally released the hostages in early 1981, Kupke continued working overseas in Thailand, the Philippines, Costa Rica, Jamaica and Mexico. “I was one of the first who went back overseas. The type of people I worked with, being an ex-hostage wasn’t a big topic that came up all the time,” he said. “It helped not to make it bigger than it was. I always disagreed with the psychiatrist who talked about post-traumatic stress happening five to 10 years later. I told him he was planting that in people’s minds. He got mad at me for disagreeing with him.”

If there is one lingering effect for Kupke, it’s in the way he’s often presented to new acquaintances in Rensselaer. “I’m often introduced as, ‘The former hostage in Iran.’ But most people go out of their way not to have me rehash the whole story. That’s a nice part of being in a small town.” 

Divorced in 1991, Kupke has been a single father ever since to his two sons. The three of them lived together in Jamaica and Mexico, but when the boys neared high-school age, their father figured there was only one place to continue their worldly education. “I was born here and went to high school here, and I thought it would be an excellent place for my boys to go to school. Back home in Indiana,” he said.

In addition to watching over 15-year-old James and 14-year-old Bill, Kupke keeps busy as a volunteer driver for Meals on Wheels. He also works part-time six days a week at the Jasper County Animal Shelter while waiting to hear about the possibility of returning to a stockbroker position. The only connection to his State Department days is the book he started writing a few months ago — a fictionalized account of a foreign service officer who faces one dramatic situation after another while traveling from country to country, based on his own experiences.

“Rensselaer is just an outstanding place to live. I couldn’t have made a better decision,” he said. “My life is a little slower these days. I don’t need to rush. I’m taking time to smell the daisies. Or is it the roses?” 

Life and Truth in It

Maybe quieter in some respects but life is no less purposeful.   Rensselaer epitomizes being in a community.   For it is in living with others that we find meaning and self-worth.

Thomas Wolf wrote:  Telling the truth is a pretty hard thing. And in a young man’s first attempt, with the distortions of his vanity, egotism, hot passion, and lacerated pride, it is almost impossible. “Home to Our Mountains” was marred by all these faults and imperfections…[Webber] did know that it was not altogether a true book. Still, there was truth in it.

I will share some stories of individuals shaped by this small town experience. One is about the Rensselaer High School Senior in 1937 who set the school record for the 100 yard dash, which still stands at 10.2 seconds. He met with Jesse Owens in 1937.  His grandson attended a Hi-Y banquet in 1959 at the First Methodist Church where Owens was the featured speaker, 22 years later.   Or the obituary of the last surviving Rensselaer soldier from the civil war who volunteered at 14 in 1861 and died in 1945-a sense of duty that carries on still today.

Credit Union Mergers: The Final Solution?

A post by Jim Blaine from his blog of May 15, 2024, used with permission.

      Credit unions are changing…

     … and disappearing.  

Badin Employees Federal Credit Union used to be tucked up against the Uwharrie Mountains on the banks of the Yadkin River, about 40 miles east of Charlotte – the hometown of banking giants Bank of America,Wells Fargo and Truist.

The Uwharries are thought to be the oldest mountains in the U.S. These mountains are well-worn and rounded; the Rockies they ain’t! Uwharrie is an old Indian word. It’s a bit tricky to pronounce, much like La Jolla, Yakima, Albuquerque, and Butte. “Yew-whar-eee” is correct;  “you’re hairy” is not.

https://asset---north-carolina.bldg15.net/img/4/f/4fc74af4-b323-4065-ab53-b09cd8dcf5dc/Stanly%20County%20-%20Morrow%20Mountain%20State%20Park%20Overlook-crop(1,0.636,0.000,0.334,r4).4e964e48.jpg Been searching for years for the original Indian meaning of that name. Recently, a friend told me he knew the origin. He said, it’s in the dictionary: “Uwharrie” means “unknown”. Really?

Asked him for a copy of that reference for my files. Sure enough, the following week, in came a copy of the dictionary definition. It said: “Uwharrie – adj., probably from an ancient tribal name; meaning unknown.” Perhaps I just need to pick better friends….

Badin is a company town. In 1917, Alcoa dammed the Yadkin River to generate hydroelectric power for a new aluminum ingot plant. The lake and town which sprang from those efforts are quietly picturesque – but, all things revolved around the plant. Driving into town, down Falls Road, under an unwashed denim sky, is a journey home, a journey back in time The town is just two blocks long, but makes the most of it.
 

https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgJW7_EMEcjRpmN0ZOPoAThGYDe3adg0LwJUC1ovwporaTB_k2MZsBzxtXA_Fhc0QdNT0WQcC78VQJzIyOO2hA88MSEEb_WnDoyD1s6e4cXq_wwL2wRK6-urANV7w4k2713cqHXm67R_a8/w1200-h630-p-k-no-nu/IMG_3451.jpg “Downtown” the candy-striped awnings and improvised handicap ramp of Badin Town Hall and Police Department adjoin the Masonic Lodge #637. Then comes the post office with its single window, fleet of post office boxes, and well-used community bulletin board.  Shading the post office is Memorial Park, flanked by a cedar tree honor guard for the seven Badin soldiers who died in World War II. And, out of sight up a short dirt road, is the best named roadhouse on the planet: The Bottom of the Barrel Disco and Cafe; now vacant, having recently burned to the ground.  Bet that last party was a great one. Sorry to have missed it!

But, the center of attraction in town was the Badin Employees Federal Credit Union. The Credit Union was housed in a one story, red brick building with blue shuttered windows and a bright, “no-way-to-miss-it”, burgundy door. The Credit Union always closed for lunch from 12:30 to 1:30 pm, but you could sneak a look into the office through the partially drawn, real-wood Venetian blinds. It was a comfortable, inviting looking place. The kind of place you could sit a while, have a cup of coffee, talk to the manager, y’know think it through a bit.

Badin Employees Federal Credit Union was prosperous with assets reaching $4 million, capital 18%, loans available to all, delinquency negligible. Everyone in town was a member; no local banks remained. Badin Employees FCU had achieved “market dominance” without ever spending a penny on “engagement, member experience, or passions of self-importance”. The “word around town” took care of all that. Yep, folks in Badin had a strong opinion about their Credit Union. They were the kind of folks – as you might suspect – who didn’t need “thought leaders”“X”, or talk radio in order to form an opinion!

https://i.pinimg.com/736x/41/5b/88/415b88882030af28aaba824deda36369.jpg The beauty of Credit Unions used to be something you couldn’t easily wrap, bottle, or “spin”.   Badin FCU is no longer there to make a difference – gone the way of merger. There are no longer any banks or credit unions in Badin. The aluminum plant, too, is gone.

… are we getting close to the Bottom of the Barrel on a lot of important things in our Country, including credit unions?

The Cooperative Way to Manage an Isolated Branch

Last week I described the abrupt closing of the Madison WI branch of PenFed FCU  which it acquired via  the merger of Post Office Credit Union (POCU) in 2020.

There was no public announcement.  Some members were alerted, but many weren’t.  The employees lost their jobs.  The members no longer had a physical presence for this coop operation begun in 1935.

I described this as an example of “asset stripping” in which the continuing credit union takes the most valuable parts of a organization and then disposes of the rest.  While this approach is not unique to PenFed, it is routine in many of their  post-merger operations.

Other credit unions sometimes acquire new branches via mergers outside their home state, often hundreds of miles away.  There is no synergy or “network effects” with the continuing credit union’s primary market. Closing these “under performing” locations is seen as an acceptable management decision.

But is this the best option for members?  As credit unions point out bank branch closures to defend their FOM expansion requests, are some coops guilty of the same activity?

A Better Way: The Branch Transfer

As PenFed’s August shutdown of its Madison location was finished, two credit unions demonstrated a better way. First Harvest in New Jersey and Members 1st in Pennsylvania, announced the  completion of a cooperative approach to the challenge of an isolated member service location.

This past month, the spin off of the Williamsport, PA branch of First Harvest, acquired in a merger in 2016, was finalized. The transfer of First Harvest’s local branch members, employees and  resources to Members 1st, which operates over 60 branches, in Pennsylvania became official.

Mike Wilson, CEO of Members 1st and Mike Dinneen, CEO of First Harvest had both begun their leadership roles at the same time in mid 2023.  They knew each other from working together in different Pennsylvania credit unions.  They discussed their joint efforts in an interview ten days ago.

Upon taking over at First Harvest, Mike began evaluating his business and strategic priorities.  The Williamsport PA branch  was over three hours away from the Deptford, N.J. head office.   The distance from his primary South Jersey market focus made it difficult to support fully the employees and over 1,000 members using this location.

Closing the branch was not an option.  What solution could be  in the best interests of the members, staff and community?

In discussions with his counterpart at Members 1st in late 2023 the two CEO’s agreed to a joint  project to assess whether  a transfer of the entire operation would make sense for everyone.

Members 1st had 7,000 members in the greater Williamsport area but no location in the county. This branch with its experienced staff offered an opportunity to build out this new market area with  an in place local presence.

The two CEOs established a process to involve the local employees and members in the evaluation.  NCUA required that  a transfer of branch be done following steps similar to a merger:  the members would be given notice, vote on the option, and a third party monitor  results. The final decision  would be by the members.

Following NCUA approval in February of 2024 both credit unions held meetings with employees and  in multiple member open forums.  Both credit unions’ leaders attended, including evening sessions so all could ask questions.

The voting took place in April.   The transfer was overwhelmingly supported  with between 20-25 % voting  participation, a much higher rate than for a traditional merger.

Mike Wilson stressed that the key  success factor was staff retention and their support.  Mike Dinneen noted that the “spin off” was not a performance  issue but a proximity one.   In his view the critical factor was finding the best cultural fit for staff and members.

An Example of Cooperative Values and Collaboration

These two credit union CEOs were guided by values that put their members’ and employees’ well-being foremost.  There were also institutional advantages for both firms if the transfer was thoughtfully conducted.

The members were deeply involved in the process.   The two credit unions took almost a year to evaluate how the spinoff might best work and to develop and communicate the advantages of this change.

By this effort they maintained the goodwill and reputation of not only their individual  institutions, but also for the member-centric public reputation  of credit unions.

PenFed cut and ran when closing their Madison branch.  This operational presence  had  been in the community for over 89 years.  Consider what a different impression these 3,000 or so members would have if there had been an effort to transfer the operations to a local  cooperative willing to continue  service for the community.

But that choice would have required PenFed to put members’ interests first.  Instead they took all the “free” capital and other valuable resources from this previously independent credit union.  The members were forced into a remote, digital-first service model.  The local commitment and presence of nine decades was over.

This contrasting approach is a  reminder to credit unions enraptured by a credit union’s rhetorical promises during courtship, that the marriage rarely lives up to the hype.  Especially for the member offspring.