Digital Align Inc’s Post

Transcript

So I think to do right and so let's start there in the in the positive, the first thing to do is. Is to create a strategy and a center of gravity for performance, in other words. Balance the the classic and long term success of our model of member experience with real business acumen. Thinking about how to run the organization as a business, is it equally as important as running it as a cooperative and providing member value? Too many credit unions I still believe get tied up into we provide great experience without the regiment and strength of understanding that how important growth is learning and change matters and how performance so center of gravity about real performance and growth. I think is, is number 12. I think the, the hiring, the really thoughtful idea of hiring leaders. And now and we're talking about leaders. I'm not just talking about the CEO and, and some of the things that that my firm deals with, we provide supplemental executive retirement programs for for many of these executives. But the, this idea of, of what you've been talking about real investment in technology expertise in digital and. Data and understanding now how to bring those capacities within the organization and so if you don't do those things you're not going to get to really effective partnerships with fintechs are really great use of AI or this expansive. Charters and and servicing areas through efficient and effective experiences. You need to compete against Sofi and Chase and you need to have the ability to to open an account as quickly as cap one and and service as effectively as Amazon. Those are skill sets and and those those investments. Third is. It's going to be crucial to manage your expenses in this next two years. Recessions are extraordinarily challenged. People's gut in those things is often to cut expenses. You do need to manage expenses, but you also need to invest. And so their credit unions are countercyclical. They have cleaner balance sheets, so they have an opportunity to grow in a recession or grow after the first stage of it. Pressure much more than for profit institutions, but that takes that they've managed their expenses well, that they've invested in the right efficient technologies and that they have created a business model that has that operates well risk wise and operational expense wise and good and bad economies because we're we have a high, high, high probability of a down cycle coming at us.