CO-OP’s THiNK event is something that I always look forward to because it really inspires you to think outside the box. This year the focus is on digital transformation and what better place to be inspired to move at the speed of digital than New York City?
The event kicked off with a mini Hamilton performance and aside from the fact that it is one of the top things to see in New York right now, it really sets the tone for transformative thinking. Taking a story that had been told over and over in a way that most people found unexciting and making it into something that those who already loved the story still loved but also appealed to an entirely new audience as well. It’s just one example of how transformation is happening all around us in the world and now, it’s our turn to step up and making some strides toward change.
Something that was mentioned at the event that really stuck with me was the idea that credit unions are reluctant to fully participate in the digital movement because we feel like we are such a people business. And as Samantha Paxson pointed out, being digital doesn’t mean losing humanity. Digital actually gives you the ability to enhance the mission of “People Helping People” by reaching more people, solving problems faster, and creating a larger cooperative network. We already have all the tools we need to this, now it’s about a mindset change.
Todd Clark, CEO of CO-OP shared a story about his son giving him a quiz to see if he was old or not, and the question was what is on your phone that you take pictures with? Todd’s answer: a digital camera. To which the son replied, “No dad, it’s just a camera.” I share this example because too often we are siloing digital out. It’s it own separate area within your credit union: digital strategy should just be your strategy, digital branding is just branding and so on and so forth. A strong digital plan will permeate through and enhance all the other aspects of your credit union.
CO-OP has assembled an all star line-up this week to help us understand why a digital transformation is so important to the longevity of our industry and how we can start moving in that direction quickly… Stay tuned!