By Frank J. Diekmann
It’s seems inevitable this week. Skies full of flying pigs. Ice skating on the ponds of Hell. And a 32ndday tacked on to the end of this month, and maybe even a 33rd.
How else could you possible describe a week in which credit unions will be overjoyed to receive a letter from NCUA?
If ever there were to be a Kiss Your Examiner Week, this would be as good as any to give it a try. That’s because the agency will be distributing nearly $736 million to some 5,508 federally insured credit unions (representing about 5,700 CUs in all, due to mergers) as a payout from the National Credit Union Share Insurance Fund as a refund on some of the money paid in to cover the costs from five failed corporate CUs a decade ago. (For the two law firms that have split an astonishing $1 billion in fees related to recoveries from Wall Street bankers, every week is Kiss Your Examiner Week.)
How to spend individual shares of the refund is up to each individual board and management team, but the money most certainly should go to benefit the members, whose money it has been all along. (You can find more on what some CEOs told CUToday.info they will likely do with the money here.)
Smart Move With Members Money
Investing in the future of the credit union and its members would certainly seem a prudent choice, and for that reason I’d like to invite you to put a bit of the funds toward the (low-cost) CUTomorrow Conference, Sept. 9-11. This meeting features some of the very best credit union practices and strategies featured in CUToday.info, and the tight agenda is focused on exactly what credit unions told us they want in a meeting. New employee onboarding strategies. Lending. Growth. Proven ways to onboard new members effectively. How to really tap into the power of data and analytics. How to keep costs under control. And two sessions with advice from experts on how to take home everything you learn and hear and put it into motion.
In short, the types of things a credit union must do if it wants to see tomorrow.
As you get ready to do you strategic planning for 2019 and beyond, I hope you will join us for CUTomorrow. There are no six-figure keynote speakers. No TED Talks. No 30,000-foot viewpoints. Just successful credit unions sharing what has worked for them in the spirit of credit union collaboration.
Many CU conferences have become cost prohibitive to mid-size and smaller CUs, and the meeting has been priced as affordably as we could make it at just $499 per registration. That low cost is thanks to the support and sponsorship received from Catalyst Corporate, Volcorp, Harland Clarke, CU*Answers, Emery Financial Group, CUNA Mutual AdvantEdge Analytics, and the Volunteer Leadership Institute. James L. This & Associates is also co-sponsoring the meeting and staff have been volunteering their time to make this meeting a success.
No Flying Pigs, But...
There are now fewer than 50 days to go until the meeting kicks off in vibrant downtown Austin, Texas at the Omni Hotel on Sept. 9.
Don’t wait for the flying pigs. Instead, get your future off to a flying start and join us at CUTomorrow.
Frank J. Diekmann is Cooperator in Chief at CUToday.info and can be reached at Frank@CUToday.infoor followed at @FrankCUToday.