A tale of caution and frustration

by: Joe Winn

Are you successful? How do you define it? From your member’s perspective, it could be in the amount of money you help them save. For your team, they may consider community engagement an important qualifier. Either way, success does not come by accident. It’s a deliberate result of focused acts.

Given that understanding, here’s a question: Is your credit union successful because of or in spite of your efforts?

I’ve run into a few companies which fall under the latter classification. By way of monopoly, past performance, or other factor, they ring in improving results each quarter no matter how they operate. “I bet he’s talking about the cable company,” you think, and you would be right. Each of these mega-corporations have set up a situation where they cannot fail. Want to see TV? Buy from them. Want to skip TV and just get online? Buy from them. How about a phone line? Yep, buy from them. And when your customers don’t have a choice, service can suffer with negligible financial impacts.

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