This past week, CUNA launched a new membership opportunity for credit union board and committee members.  I was fortunate to be working with this network for the past months as it was developed, but CUNA Governmental Affairs Conference (GAC) attendees had the opportunity to see the members-only website as its launch was celebrated on Sunday night in the exhibit hall.

Kevin Smith, CUNA Instructional Design Manager

I took some time to sit down with Kevin Smith, CUNA Instructional Design Manager, who worked with developing and launching the membership to get his perspective on its usefulness and value for credit unions.  Read on to find out what he had to say as he prepared for the launch last week.

What inspired the creation of the CUNA Volunteer Network?

The job of credit union directors is getting increasingly complex, more demanding of time and attention, as well as requiring more expertise. It’s incumbent upon CUNA to provide products and services  to help directors keep up  with demand and to do their jobs effectively and efficiently. We see that directors get a great value from networking opportunities at our schools and conferences.  However, networking is challenging for them to continue outside of a conference environment. We also hear from directors who are traveling to conferences less often for a variety of reasons and they want a way to stay connected. There are a surprising number of directors at conference events using cutting-edge technology to try to keep up with everything (iPhones, laptops, Blackberries, etc.).

This all suggests that volunteers are very busy and need a community of resources to help them excel in their roles as directors.  Therefore, the CUNA Volunteer Network was “born” out of the necessity for board and committee members to keep up with credit union issues and connected with each other.

Is the CUNA Volunteer Network fulfilling a need that CUNA identified or was it driven by members?

CUNA identified a number of trends that inspired the idea of a network of volunteers.  Through focus groups of credit union volunteers, we fine-tuned the specifics of how that network would be delivered and what it would include to provide value.  We make a concerted effort to pay close attention to our directors to ensure we give them the tools they need, so this membership is an example of just that.

Due to recent regulatory changes affecting board members, CUNA sees the need for volunteers to stay up-to-date and connected becoming even more important given the additional expectations being placed on board members.  Volunteers are looking for more online resources, so a membership-based website was very well received by our focus groups and we thank them for their input.

What have you found is the most attractive value to credit unions to want to join?

By far the access to leading industry training, tools and peer advice anytime and from anywhere has been a big interest point for credit unions.  Specifically, the list serve, 20 online training courses, and Director’s Newsletter have been getting a lot of interest because of the value on a variety of potential topics each provides.

How are membership benefits different than the benefits of being a member of CUNA?

You have to be a volunteer or CEO of a CUNA and league-affiliated credit union to be a member of the CUNA Volunteer Network. The network provides opportunities that are focused specifically on the roles of credit union board and supervisory committee members. The membership benefits include additional discounts and access to tools and information CUNA offers, plus some exclusive options for just the CUNA Volunteer Network members at an affordable value.  Basically, if a board or board member takes advantage of even half of the tools available to them through the network, they’ve more than paid for their membership and it’s all served up on an easy-to-use and access website.

Learn more about the network at training.cuna.org/volnet.

As I strolled the stores on Black Friday and sought the deals on Cyber Monday, I marveled at the pact I’d made with my cousin to not buy any non-sale item during the infamous after Thanksgiving sales. For some this may not have been such a marvel, but for an 18-year old college student to make this commitment with me, a 30-year old convenience shopper, it was quite monumental. Of course, I couldn’t help but appreciate how different her buying habits were from me at the age of 18 when I embarrassingly enough just bought because I found “it” and not because “it” was a good deal. It made me wonder if I’d gone through a natural progress of appreciating every dollar more, or if there’s some silver lining of a recession that has helped every generation become savvier with their dollars and cents?

As I thought more about the changes I’ve made in the last couple years, I couldn’t help but reflect back on the changes I’ve made professionally. I’ve given more emphasis and priority to research prior to deployment and sought more affordable and efficient ways to source talents and complete duties. In accomplishing these tasks and looking at what we do through a different lens, we’ve developed more partners, expectations and processes that may not have initiated without the need to address our economic environment. As a graduate student, I’ve witnessed more students networking to share books and finding sites to purchase them for a fraction of the cost. Although that may be common in undergraduate programs, I’ve noticed this shift even amongst the students that are funded by their companies to ensure they’re managing any costs they can control to keep their education funding. While seeing these changes in business and education, I notice more of the recession silver lining as I reflected back on building a home late in 2009.

While I honed my skills of finding deals in the building process, I found very affordable, quality work available from many companies. Many of the poorer quality or managed businesses may have even exited leaving the market full of those that are the best at their trade. This alone was a testament to their abilities, and helped me as a potential buyer find them more easily.

As we continue through the slow economic times, there’s more positive to be said for the changes we’ve all endured over the past couple years. As I reflect just for a few brief moments, I notice members embracing the ideas and values of credit unions, credit unions being more diligent in their operations and staff having a renewed interest in making the most of everything. To tag on to a fellow CUNAverser’s post, the recessions silver lining may be one more deposit to our “thank bank.”

ELL Advisory Committee members from left to right: Mark Stetzer (First Florida CU), Don Vaughnn (Sioux Falls FCU), Tara Whitmire (ELGA CU), Tiffanie Walls (Seattle Metropolitan CU), Autumn Tarquinio (Community Choice CU) and Marlo Foltz (Credit Union National Association)

Reflecting back on my trip home from San Diego after spending time with credit union HR and training professionals at CUNA’s Experience Learning Live (ELL), I made note of my top insights from the conference and the value of credit union training.  Here’s my top 5, but boy – credit union trainers never stop amazing me!

The All Mighty Trainer
As I spoke to attendees, attended sessions and experienced the ELLy award presentation (see who won), I was amazed at the awe-inspiring efforts of credit union training and HR, and of course the results they were helping their credit unions achieve.  From management know-how to loan growth in a down economy, the trainers and HR departments represented at ELL were unrelenting in their commitment to their employees and credit union.  In fact, many of their programs have been attributed to helping the credit union weather the economic storm of recent years.

Feel the Love
I attended ELL to spend some time with our credit union training and HR attendees talking about their use of CUNA’s training products and services.  There is nothing better for a marketer than hearing how much someone loves the product he or she markets.  I heard great stories from CUNA’s CPDOnline and Creating Member Loyalty™ (CML) credit unions about how much their staff enjoyed these services while their credit union gained better financial performance as a result.

Win Big with Scavenger Hunts & BINGO
Trainers want to win big, and did CUNA put them to the test throughout ELL to win thousands of dollars in goodies.  The excitement across the Hard Rock Hotel in San Diego went up a notch or two when training and HR gurus were grouped to discover the hotel area during the opening mixer.  In addition, throughout the week the stakes got higher as attendees competed for BINGO prizes consisting of a CUNA’s CPDOnline membership, CML Product Knowledge, CUNA Pressing Economic Issues Series, Training Bundle and more.  Admittedly, I had my doubts if attendees would be up for some out-of-the –box mixers and knowledge tests, but those doubts were put to shame by attendees that competed fiercely and embraced an idea with unparalleled enthusiasm. Credit union training is in great hands!

The Credit Union Difference
Not that credit unions have to be told about this difference, but there is something great about sitting amongst credit union trainers and hearing them whole-heartedly believe and practice their ideals that credit union training does not equal bank training.  If you dare think so, or possibly believe that bank training can be passed off or slightly changed to accomplish credit union training, watch out!  When ELL trainers start talking about building their courses, service backed by credit union ideals is where it all begins.

Appreciation & Recognition
As I listened to the acceptance talks from the credit union trainers recognized with ELLy awards (see who won), it was truly inspiring hear the recognition the award winners gave to their credit union team, leaders and employees as well as fellow ELL attendees and CUNA as a part of their recognition.  Even while basking in the recognition given to them, the award recipients could not forgot those who helped them.

Summed up, all this inspiration, hard work and enthusiasm can only mean one action we should take.  And, so I ask…have you thanked a trainer today?

The CUNAverse team has been discussing the impact of the recession on our business, our lives, credit unions and organizations in general. The new views of how we do things, increased workload, uncertainty of markets and the future have been a part of our conversation as well as the silver lining and a new appreciation for camaraderie, stability and new ideas at work.

One question I wanted to research more thoroughly was about the professional future for the survivors of the downsizing and “doing more with less” environment many work places have experienced since 2008.  What is the professional fate of those who have spent so much of their last two years weathering the economic storm?  And specifically, what will this mean to credit unions?

I didn’t have to look far to find the employee retention rate at credit unions has increased over the last two years to 88% according to CUNA’s 2010-2011 Complete Credit Union Staff Salary Survey Report.  Nationally, the Bureau of Labor Statistics reports the number of quits continues to hover around its lowest point in the last 10 years.  Quits tend to rise when there is a perception of another job being available and vice versa.  So, what’s a credit union to do as we approach the rebound of the economy and the potential for turnover to rise even amongst your most star employees?

Here are some tips to consider when preparing for the very high likelihood of a turnover increase at your credit union in the near future:

• Invest in Supervisor Training

A study by the Gallup Organization found that the top reason employees quit their job was not due to compensation, benefits or the type of work, but due to a poor working relationship with their supervisor.  Given the costs of turnover to your credit union in recruiting, training and retention, review the investment your credit union makes in supervisor or management training to ensure your managers have the talent and know-how to maximize the employee relationship and understand each employee’s desires and goals.

• Support Ongoing Learning & Recognition

Working with credit unions that use CUNA’s training programs, I hear firsthand the difference our programs make in credit union careers.  Whether it’s attending a conference and earning a national certification or taking an online course to earn a certificate of knowledge, ongoing learning and recognition can lead to higher job satisfaction and development of skills that benefit the credit union.

• Understand Compensation & Benefits

While dollars and insurance aren’t the only factors of whether an employee stays with or leaves your organization, be sure your credit union is competitively positioned in your marketplace.  Using resources online or CUNA’s staff research resources are a couple ways to make sure this isn’t the missing part of your employee equation.

• Create a Positive Work Environment

No one wants to go to work each day dreading the decisions they have to make or the people’s actions and behaviors he or she comes across.  So, what have you done lately to improve the work environment of your credit union?  This doesn’t take a management position, but it does take a leader to initiate the expectation of being genuinely concerned for those around you.  A positive work environment and positive relations with co-workers can be two of the most powerful retention tools, so do your part to start a company initiative or just send a personal note of appreciation.  Small and large actions can get you far in this category of increasing job satisfaction and making people enjoy coming to work.

Last week, I had the opportunity to speak about strategic marketing with the National Federation of Community Development Credit Union’s third year group at the Community Development Credit Union Institute (CDCU Institute).   I had the unique experience of chatting with some community development credit union stars about how they can reach more members and prosper.  I was so impressed with this group as they were already beyond just talking marketing tactics and promo campaigns, and really wanted to talk marketing strategy.

Now, I’m not a history buff, but recently I heard a presentation where marketing consultant, Steve Olson, gave a great analogy of the difference between marketing strategy and tactics.  As Steve put it, when entering World War II, the United States was facing two battle fronts, one in Europe and one in the Pacific.  The strategy for World War II was Europe first, the Pacific second.  That really got me thinking as I prepared for my talk at CDCU Institute about what battle fronts are priority for credit unions?

As our morning conversation went on at the CDCU Institute, everyone took notice of how many fronts we are trying to fight with existing marketing efforts.  Now, if your credit union has any sort of limited resources (time, money, etc.), you realize what we did … that fighting all fronts at once is not an effective battle/marketing strategy.  So what did our group come up with?  Here are some of the session highlights:

• Service is credit union marketing- be sure to know what you’re up against.  When each person told the group what sets their credit union apart from their competition, the immediate response was service.  Yet, very few people could recall a secret shopping or similar program to factually know what service their members receive elsewhere.  A strategy is no good if what you stand for isn’t your competitive advantage.  So, if your credit union stands for better member service than your competitors, do your undercover work.
• Identify the front you’ll battle first.  We talked at length about the benefits of focusing on a core target.  This target should represent your most loyal members, and members that use your credit union for what it should be used for. Having a stable membership base representing your target will ensure your credit union is in existence to serve all your members far into the future.
• Have fun!  Throughout this entire session, we pushed our comfort levels of what marketing meant to us and our credit unions.  When we did get to the conversation about tactics, it was fun because we had our goals and strategies mapped out.  While I didn’t come across the tactic of the Flash Mob of Innovations FCU until yesterday, it certainly would represent the fun ideas that came from this group.  Different now is that all our ideas are grounded in the marketing strategy we know will sustain our organizations.

So, let’s extend the discussion.  What strategies are you using to fight your marketing battles?

Now that my two-year-old says “oil spill” as soon as she sees the news, it’s safe to say that the oil spill in the Gulf has had an effect on almost everyone.  As the news continues to cover the damaging effects, BP and other organizations attempt to overcome challenge after challenge to stop the spill.  So, what can your credit union learn from BP?  Public relations? Disaster preparedness? Maybe. I’d say a lesson in risk management.

Long before the first drop of oil leaked into the Gulf, BP was aware of a potential issue.  However, the likelihood this issue would become a big reality outweighed taking measures to prevent it.  What didn’t weigh into BP’s scenario planning was the catastrophe that could result if the very unlikely occurred.  Defining the risk one step further as costing the organization more than $100 million per day and causing degradation of wildlife, local businesses and public opinion could have changed the perspectives of some to fix the issue even if the chance of a spill was extremely low.

In your credit union, do you have a potential “oil spill” where chances are slim that anything could expose the problem, but if something did, the damage could be catastrophic for your credit union, your members or even your community?  Take a lesson from BP, and address those issues.  Even BP’s peer organizations have learned a lesson as Exxon Mobil, Conoco Philips, Chevron and Shell are committing $1 billion to a rapid response plan for Gulf oil spills.  All of these organizations have disaster recovery plans.  They take additional precautions because they now know the magnitude of damage an unlikely occurrence can have, and can no longer ignore the small chance of it happening.  Lesson learned: BP and credit unions can avoid “oil spills” react more effectively with sound disaster recovery and rapid response plans, but can prevent with some truthful what-if scenario planning.

BP is an organization that credit unions can learn valuable lessons from.  What else do you think credit unions can learn?

CUNA Management School Class of 2008

After spending almost three years working at CUNA and marketing CUNA Management School, I was asked to go through the program as an attendee in 2006.  I remember arriving on a hot, steamy July Sunday to gather my materials and check in to my dorm room.  That wasn’t a typo, I stayed in a dorm room for two weeks, and actually enjoyed it.  Unlike my college days at the same UW-Madison, this school offered a completely different experience.

After attending the evening mixer, I began to notice quickly the diversity amongst the group.  Though we were all from the credit union movement, there were CEOs, marketers, branch managers, lending officers, business development managers, compliance officers and many others.  Plus, there were veterans of the movement, new hires, young parents, grandparents, and even one woman who was pregnant.  All in different stages of our careers and lives, we embarked on this experience to…? That was the question I wanted to answer.  After all, I promote this program to credit union professionals each year.  What were they hoping to gain or learn during these two weeks, and what would bring them back for the following two summers?

Needless to say, I certainly got an education at CUNA Management School.  Not only was I educated about what people gained and learned at the program, I experienced it.

I learned about and experienced idea sharing.  Unbeknownst to me at the time, I sat next to 3 other marketers during my first day of class, and sat next to the same 3 my last day.  We loved learning from each other, and discussing the concepts presented in class as they related to marketing.

I learned about and experienced leadership and teamwork.  Sure, at first I thought it was hokey to have a class motto and chant.  But sure enough, after serving as our class treasurer, fundraising for the scholarship fund, assisting with the welcome committee and planning our class celebration, I felt the credit union philosophy come alive along with a camaraderie that continued long after the day we headed home.

I learned about and experienced credit unions.  I knew business concepts before I attended CUNA Management School.  In fact, many of my class members already had masters in business.  However, we learned about the credit union way of doing business as we sifted through ALM, ratios, human resources, marketing, innovation and crisis management.  Not just how to do it, but how a credit union should do it.

As the day approaches that a whole new CUNA Management School class begins, I remember my last day of the program.  I was the pregnant woman (with only two weeks until my due date, now that’s dedication) and others were now CEOs and COOs. We all took something a little different away from the program, yet we were all taking away something just the same: We learned about and experienced people helping people.

Tuesday, 8:03 a.m., CUNA Marketing Department

Marketer #1:  “Danielle, you’ve made my day!  Thank you so much!  How much do I owe you?”

Marketer #2:  “No way, I’ve been wanting one of those.  Dang, I’m going to go out at lunch to get one.”

Marketer #3:  “Get me one too.  Those are cool!”

"The Cup"

So, what were we discussing? A cup. That’s right, a cup. But, not just any cup.  A clear plastic, insulated cup with twist on top and plastic straw equipped with a “bump” on one end so it won’t fall out.  And, it has the Starbucks logo on it.

Fast forward to the day that Danielle, our Starbucks resident on staff, arrived to work with multiple cups.  Apparently, Danielle was requested that if she ever went to Starbucks and saw “the cup,” she had to pick up more for our other marketing staff.  That’s the day that the conversation above took place, and I realized I was not just a lone non-coffee drinker in search of “the cup,” but one of many.

Throughout the day, I found out that these cups are quite a big deal.  Starbucks staff indicated they only get these cups in sparse shipments, and people flock in to get them. While the cup retails for ~$13 in Madison, it can be found on eBay $20+. Later, I found out from Lisa (Marketer #1) you can buy a three-pack of similar cups at Costco for ~$19 (no Starbucks logo though).  That Tuesday, I called ahead to make sure Starbucks still had the cups, drove over and bought four.

Members of CUNA's Marketing Department with "The Cup"

After spending more than $50 on these infamous cups (and filling mine with Mountain Dew), I began to think about what a marketing/branding wonder these cups are.

• Does Starbucks purposely limit the distribution so a whole word-of-mouth market will start when “the cup” shipment arrives?
• Where did I see the cup first?
• What made me recall it, and desire it?
• How many other businesses have non-core products that non-customers clammer to get?

Then, I began to wonder about this branding success, and if credit unions were trying anything similar?  So, how about it?  Does your credit union have any items, service, or “cups” that you’ve found your members (and hopefully non-members) desire?  What’s “the cup” for your credit union that’s got people talking?  Cool credit cards?  Your service?  Chime in with some of your examples.  The first comment will receive “the cup.”

GET “THE CUP” CONTEST DETAILS: Contest begins today and ends when the first comment appears.  No purchase necessary to win.  Make sure you leave an e-mail address where you can be contacted.  The winner will be notified via e-mail (in case you don’t see that your comment is first) and will also be announced on the blog (just to be sure there’s no confusion on what first means).  Multiple comments are allowed but there will only be one winner. I could only get one cup!  The odds of winning depend on how fast you can comment.  Void where prohibited.