Do better job of touting difference, CU execs told

FARMERS BRANCH, Texas (9/9/08)--Credit unions need to do a better job of touting their difference, Ron Galloway, author and speaker, told credit union leaders at the Texas Credit Union League's Leadership Conference and Visionary Expo Friday.

Credit unions have proven themselves to be the most responsible financial institutions since 1930, he said. "You have a fabulous story to tell, but you aren't getting your message out there. People don't know about you," he added (LoneStar Leaguer Sept. 8).

Tom Dorety, CEO of Suncoast Schools FCU, Tampa, and chairman of the Credit Union National Association, said credit unions need to emphasize their uniqueness.

Chuck Wilson, managing principal, Banking Industry Group Inc., said everyone at credit unions--from front-line staff to management--can spread that message.

He also noted that if directors and employees can't communicate to membership the reasons why the credit union is different, members don't have an incentive to stay. "Your board of directors and employees must continuously and actively find ways to tell your story and help your members," he added.

"Is your organization committed to providing the level of service that sets you apart from the competition?" he asked.

He followed up with other questions:

Does the credit union have a definition of quality member service that all employees know and understand?

Is its quality standards practiced by each department in the credit union?

Is there planned, ongoing measurement of quality standards and timely feedback to employees about the results? and

Is the performance of the quality standards directly linked to the pay of each individual employee through the credit union's performance appraisal process?

Credit unions may want to re-evaluate whether they are committed to providing the level of service that will set it apart from the competition, he concluded.

courtesy of cuna.org