How to avoid becoming one of credit unions’ rotten tomatoes

“Let’s also say that change is neither good nor bad. It simply is. It can be greeted with terror or joy: a tantrum that says, ‘I want it the way it was!’ or a dance that says, ‘Look! Something new.’”

Those were the words straight from Don Draper in an old Mad Men episode. As I reflect on conversations I have with credit union leaders, that quote rings so true. As a board chair of a credit union experiencing a lot of change, I remind myself of that quote when things get hairy or seem overwhelming.

This year I’ve opened almost every credit union strategic planning session with a few slides outlining the merger madness credit unions are experiencing right now, followed immediately by stats that show just how fast fintechs are growing and just how much we as credit unions are lagging behind. And not just behind in technology, but for the first time, we’re lagging behind banks in service!

I can easily divide credit union leaders into the haves and the have-nots. Those credit unions that are green and growing greet change with the dance that says, “Look! Something new!” The credit unions I see that are overly ripe and rotting greet change with a tantrum screaming, “I want it the way it was!” Do you greet change with joy or terror?

 

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