Welcome to episode 48 of the CU 2.0 Podcast.
Circle the date, October 26. Las Vegas. That’s when Susan Mitchell, a longtime credit union consultant, is convening another meeting of the Credit Union Underground, this time in parallel with Money 20/20, probably the meeting of the best and brightest in the disruptive quadrant of financial services.
The point of each Underground is a collision with disruptors. A lot – maybe most – credit union executives cling to their individual comfort zones. But get with reality. Maybe half of today’s 5500 credit unions will go poof in the next decade.
At the Undergrounds, attendees get exposed to disruptive thought – but they also see they aren’t required to face the challenges alone, a lot of credit union people are in the same boat.
A Mitchell belief is that widespread cooperation helped build the credit union industry. And a renewed commitment to cooperation just maybe its salvation.
Ask yourself this: what’s your institution’s purpose? Who did you help today? Whose life did you change?
Credit unions were created to help community members, to change lives. Are they still doing that?
And know that that is a path to survival. Purpose fuels existence.
This is a wide-ranging podcast. Listen and you just may find your path to survival.
For Ramones, go here.