Royce: 'Business Lending has Tremendous Traction.'

CUs should take pride in their efforts to save members money.

March 02, 2011
KEYWORDS business , royce
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“Credit unions are one of the most engaged and active groups we see in Washington,” Rep. Ed Royce, R-Calif., told attendees at Tuesday morning’s General Session. “You should be proud of the fact you’re helping your members save their hard-earned money.

“The credit union business model works,” he said. “You didn’t get us into the recession, but your business model can get us out. And I don’t want to see Congress make it any harder for you to get us out of this recession.

“The small-issuer exemption of the interchange rule is for all practical purposes unworkable. We need to slow down this rule, study it more thoroughly, and get it right. And I’ll work with the subcommittee chairman to make sure we address this issue,” Royce told an appreciative audience.

“We failed to get your business lending bill off the Senate floor during the last session,” Royce said, “but we gained tremendous traction for this bill that will benefit us next time around. Sometimes it takes a few tries to get even a common-sense bill through the legislative process.”

Royce also said he was wary of the role of the Consumer Financial Protection Bureau. “Whenever you have broad government bureaucracy with broadly defined authority, it will inevitably overreach,” he said.

He also told attendees that any expansion of the Community Reinvestment Act to encompass credit unions is “off the table.”

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Great article! Unfortunately, most employees don’t feel valued or appreciated by their supervisors or employers. In fact, research has shown that the predominant reason team members quit their jobs is because they don’t feel valued. This is in spite of the fact that employee recognition programs have proliferated in the workplace – over 90% of all organizations in the U.S. has some form of employee recognition activities in place. But most employee recognition programs are viewed with skepticism and cynicism – because they aren’t viewed as being genuine in their communication of appreciation. Getting the “employee of the month” award, receiving a certificate of recognition, or a “Way to go, team!” email just don’t get the job done. How do you communicate authentic appreciation? We have found people have different ways that they want to be shown appreciation, and if you don’t communicate in the language of appreciation important to them, you essentially “miss the mark”. Additionally, employees need to receive recognition more than once a year at their performance review. Otherwise, they view the praise as “going through the motions”. A third component of authentic appreciation is that the communication has to be about them personally – not the department, not their group, but something they did. Finally, they have to believe that you mean what you say. How you treat them has to match the words you use. If you are not sure how your team members want to be shown appreciation, the Motivating By Appreciation Inventory (www.appreciationatwork.com/assess) will identify the language of appreciation and specific actions preferred by each employee. You then can create a group profile for your team, so everyone knows how to encourage one another. Remember, employees want to know that they are valued for what they contribute to the success of the organization. And communicating authentic appreciation in the ways they desire it can make the difference between keeping your quality team members or having a negative work environment that everyone wants to leave. Paul White, Ph.D., is the co-author of The 5 Languages of Appreciation in the Workplace with Dr. Gary Chapman.

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