Creative destruction of the credit union movement: Good or bad?

As I facilitated a credit union strategic planning session for a high-performing credit union recently, the board chair asked a question that I had to think about carefully before I answered:

“Why should someone join our credit union as opposed to another, or even a big bank?”

There had to be an answer for a credit union that was well outperforming its peers and laser-focused on completing its last four years of strategic plans. It baffled me to hear this question come from a credit union that had the answer and wasn’t looking for the answer. We knew the answer but several days later as I’m typing these thoughts from the beach with time to think, I have MY answer to that question, from a higher level and not member facing.

Creative destruction.

 

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