Resilience, the theme for day three of the America’s Credit Union Conference, is the perfect term for credit unions, says Maurice Smith, vice chairman of the CUNA Board and president/CEO of Local Government Federal Credit Union in Raleigh, N.C.
“Resilience describes the enduring spirit of credit unions,” he says.
During his remarks at Tuesday’s General Session, Smith described for attendees the many ways credit unions are resilient for their members.
“Our industry was resilient enough to maintain its safe and sound lending practices” during the financial crisis, he says, and “resilient enough to sustain minimal losses after the crisis, when banks were being bailed out.”
He also says the industry was resilient enough to post continued membership and loan growth since the crisis, and that it will be resilient enough to one day become “every American’s first choice in financial services.”
Smith also spoke at length about how he has seen CUNA demonstrate resilience for its member credit unions.
“When it comes to advocacy on behalf of credit unions there is no other organization more knowledgeable, more prepared, or more plugged in to represent you in Washington, D.C., than your CUNA,” Smith says. “Nobody else compares.”
Smith says not to take his word for it, noting that National Journal, a leading political voice in Washington, D.C., named CUNA and the leagues earlier this year the most effective advocacy organization in financial services.
“That’s worth celebrating,” Smith says. “This is the kind of organization you want in your corner fighting for the issues that are important to you.”