Apr. 30, 2008 at 1:31pm

Credit unions need help? Don't send the Air Force - Part 1

Posted by Kurt Jacobson in Differentiation is Key, The Power of Creativity
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Credit union membership is barely growing. In fact, it’s losing market share to banks and newer types of financial service providers such as ING. And goodness knows what Wal-Mart will do to us!

When was the last time the credit union movement launched a breakthrough, differentiating product or service? Are we dragging traditional thinking around like mules pulling a plow? Is success in our jobs a result of following the rules and carrying out the status quo?

Guess what. We‘re not alone. The Air Force is also hampered by old habits. According to the Washington Post, “Defense Secretary Robert M. Gates chided the U.S. armed forces today for not providing enough intelligence, surveillance and reconnaissance help to troops fighting in Iraq and Afghanistan, saying it has been ‘like pulling teeth’ to get the services to change old habits.”

Robert Gates is pushing The Air Force to change its old habits. Who’s pushing us in the credit union movement to change ours? Our employees? They won’t put their jobs at risk by pushing for change. Our boards? They are rarely futurists. Filene’s i3 group? Will we leave it up to Bank of America, ING and Wal-Mart to push us to change? And then will we just be reacting?

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