A recent article in Credit Union Times discusses the competitive and complex factors that are forcing small credit unions to merge. Click the link below to see what NCUA Board Chair Todd Harper and Kentucky Credit Union League President, Jim Kasch, has to say.
Keynote Speaker, Fractional Executive, Transformational Executive. My Mission: Inspiring credit unions and their leadership to transform into better servants for their members, employees, and communities.
Todd Harper makes some excellent points here, but the one quote that carries much weight is from Jim Kasch: “The position comes with tremendous responsibility and little pay,” he wrote. “Many bright, young credit union professionals may rightly pass up the opportunity because it’s just not worth it. They know how difficult it is to run a credit union and how much hands-on experience is required. Who can blame them for preferring a mid-level management role with a larger institution that pays better and has one-third of the responsibility?” There is the problem. For small credit unions to become successful and sustainable they must have an #innovative, #talented, and highly qualified #leader, someone who is going to think beyond the operational needs to the strtegic needs of the credit union. To get quality of talent takes a significant investment in their salary and benefits. It seems if the industry leaders want to preserve small credit unions, they need to establish a #funding mechanism that will compensate the CEO to create an appropriate risk/reward balance. Are #NCUA, #cuna, #cues, and the #movement willing to create a financial resource with a benefits structure that would allow small credit unions to hire the best and brightest? This would be #collaboration in the highest form. #comments
