The credit union point of differentiation is the credit union hug. The credit union hug is equal parts the seventh cooperative principle, “concern for community,” the credit union “people helping people.” spirit and the cooperative culture of credit unions working together to solve problems and build a better financial landscape. To put it in simpler terms, credit unions hug, both literally and figuratively.
This hug is expressed in the passion that credit union employees have for their members. They love to help them and ways that you wouldn’t expect from your financial institution. Credit union employees have been known to help change member’s flat tires in the rain, check on older members during snowstorms, and even, on rare occasions, temporarily take care of member’s pets.
The mechanics behind each literal and figurative hug is a harmonious coupling of the head and the heart. The head is the gorgeous data and transformed into insights to make members’ lives better.
The credit union corporate culture is heavily shaped by the “hug,” with extra emphasis on the heart. The “head” component is often overlooked, by no fault of its own but because there is a misinterpretation that the data consumption is an organic capability. It can be to some, but for an entire organization to move into a data-centric mindset, this capability must be formally created.
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