While no two credit unions are alike, all small credit unions require one factor to succeed: collaboration, says Tom Sakash, CUNA’s manager of small credit union initiatives. He facilitated the Small Credit Union Roundtable Tuesday during the America’s Credit Union Conference at the Walt Disney World Resort in Florida.
CUNA offers multiple resources to enable small credit unions to thrive, Sakash says. They include:
- Small Credit Union Community, an online forum where nearly 1,000 small credit union leaders discuss best practices and share experiences. This resource also provides access to a “New Loan Promotion Idea Book,” a file library with sample policies and strategic planning resources, a peer profile report, and more.
- Best-in-class compliance support, featuring the CUNA Compliance Community, eGuide to Federal Laws and Regulations, and other resources.
- Online training and professional development.
- Free and low-cost marketing support.
- Scholarship opportunities for CUNA Management School, CUNA Councils conferences, and the CUNA Governmental Affairs Conference.
Plus, Sakash has started a newsletter and video series for small credit unions called “Small Talk.”
Roundtable attendees also shared successful ideas they implemented, including:
- A T-shirt campaign that turns staff into “walking billboards” for the credit union, greatly raising its visibility in the community.
- Randomly adding $50 bills to the credit union’s ATMs during holidays, leading to increased ATM volume, higher fee income from nonmembers, and membership growth.
- Upgraded back-office software that improves both efficiencies and security.