Small CU Roundtable Meets at ACUC

Group discusses compliance burden and the importance of collaboration.

June 18, 2012
/ PRINT / ShareShare / Text Size +

Small credit union professionals kicked off the 2012 America’s Credit Union Conference (ACUC) Sunday afternoon, gathering for the second annual ACUC Small Credit Union Roundtable meeting.

The group discussed issues of importance to smaller institutions, including compliance burden, regulatory relief and cooperation and collaboration initiatives. ACUC runs through Wednesday.

Mike Schenk, vice president of CUNA’s economics and statistics department and staff liaison to CUNA’s Small Credit Union Committee, kicked off the discussion noting several resources available to small credit unions. This includes a section of the CUNA website and a newly developed site dedicated to highlighting interesting collaborative efforts.

The need to reduce operating expenses by reducing back-office redundancy is one of the top issues facing credit unions--both small and large--and increased collaboration is the key to doing so, Schenk said.

“Research shows that credit unions know that collaboration can help but say they don’t collaborate more because they simply aren’t aware of successful efforts,” Schenk explained. “To that end, we’ve created a repository to collect examples of successful efforts and to find ways to encourage credit unions, leagues and credit union service organizations (CUSOs) to share their stories. It’s certainly not ‘the’ solution--but we hope it’s a small step in the right direction.”

Lucy Ito, president/CEO at CURoots Cooperative and senior vice president of the California and Nevada Credit Union Leagues, described the league’s CURoots Cooperative.

Launched in 2010, CURoots is a service organization established by several credit unions and the California and Nevada leagues. CU Roots’ services address the industry's long-standing need to reduce operational costs through back-office collaboration.

The cooperative’s service offerings include shared compliance services, internal audit services, and “CUVitality,” a collective health-benefits solution.

She explained how the services help credit unions of all sizes reduce the operational costs and enable them to collectively engage in activities they could not otherwise afford on their own.

Future plans include the introduction of Enterprise Risk Management services, asset/liability management and loan portfolio analysis. Other back-office services also may be added in the future, such as collections and IT services an initiative that provide auditing, compliance and insurance.

CUNA Board member John Graham, CEO of Kentucky Employees Credit Union in Frankfort and chair of CUNA’s Small Credit Union Committee, outlined the Small Credit Union Committee’s recent activities and initiatives.

These included the hiring last year of Bill Myers, director of the NCUA Office of Small Credit Union Initiatives (OSCUI), the possibility of raising the current $10 million threshold-definition of “small,” and recent efforts to shorten and better direct examinations for small credit unions.

Post a comment to this story


What's Popular

Popular Stories

Recent Discussion

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.

Your Say: Who should be Credit Union Magazine's 2014 CU Hero of the Year?

View Results Poll Archive