‘Compelling story’ will reinforce relevance

‘The Enterprise’ combines the power of credit unions and CUSOs to create new ways to serve members.

Maurice Smith is an “eternal optimist.” Yet he worries that credit unions could “lose their relevance” in the minds of members.

“Without distinctiveness, we lose a little bit of our soul in a commodity market,” Smith says. “We must continually focus on telling a compelling story about cooperative credit.”

Smith is the CEO of $3.2 billion asset Local Government Federal Credit Union and $69 million asset Civic Federal Credit Union, both in Raleigh, N.C. He’s also chair of the CUNA CEO Council.

His plans for the two credit unions and their credit union service organizations (CUSOs)—a combined entity that Smith calls “the Enterprise”—in 2022 are a “how-to” list for creating a compelling story.


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