I’ve spent nearly 20 years working with credit union leaders nationwide. During that time, I’ve seen periods of strong growth and significant disruption. But the level of uncertainty and transformation facing the industry today is unlike anything I’ve seen before.
This isn’t meant to alarm you. It’s meant to prepare you.
Because change isn’t coming—it’s already here. And it’s moving fast. Member expectations are shifting. Technology is accelerating. Fintech competition is growing. The regulatory environment is unstable. Political pressure is increasing.
In the middle of all this, the most crucial question credit union leaders should ask is: Are we ready?
Several years ago, during the Great Recession, I attended a conference for bankruptcy attorneys. On the final day, a panel of experienced lawyers took questions from the audience. I asked what patterns they had seen in companies that failed. One of them offered a simple but powerful answer. He said it almost always came down to four things. He called them “the four I’s.”
The first is ignorance. Leaders who don’t pay attention to changes in the market—who fail to study their customers or track what competitors are doing. They get blindsided because they’re not looking ahead.
The second is indifference. These organizations see change happening but believe it doesn’t apply to them. They assume they’re immune because they’ve been around a long time or hold a strong position in their market.
The third is inflexibility. Even when leaders recognize that change is needed, they can’t get their teams to move. Culture becomes a roadblock. People resist new ideas, and old habits hold strong.
The fourth is inconsistency. They chase every trend, constantly shifting strategies without gaining traction. They burn time, energy, and resources without real progress.
These four patterns are still with us today. And in today’s environment, any one of them can be fatal.
The instinct in uncertain times is to do something—anything—right away. But this is precisely when leaders need to slow down . . . step back . . . re-examine their strategy. This is the moment to bring your senior team together and ask the hard questions: Is your current strategy still relevant? Are you reaching the next generation of members? Is your digital experience where it needs to be? Are your competitors changing faster than you are? Could the political or regulatory environment shift in ways that would force you to make major adjustments?
These aren’t questions with easy answers. But they are essential.
Here’s the good news—turbulence creates opportunity. For those who are ready, the future isn’t something to fear—it’s something to shape. This is your moment to lead with clarity, courage, and conviction. The credit union movement needs leaders who are not just ready for change but ready to drive it.
The future doesn’t wait. And neither should you.
