When planning for the future, CUs have to provide members with what they want, said Ivan Askwith, a producer and consultant who was head of digital for Lucasfilm. The reason the railroad industry collapsed, Askwith said, is because “they thought they were in the business of railroads instead of transportation.”
To avoid a similar fate, CUs need to offer members what they want, tell them what they want to hear, and forge stronger connections with them. Drawing parallels to the world of entertainment and brands such as “Star Wars,” Askwith said members will use your services but fans “will evangelize for you.”
“When fans love something they actually fight for it,” Askwith said.
CUNA’s compliance staff went back to basics in a recent CompBlog post highlighting what credit unions should do when they receive a garnishment notice. The entry covers 5 steps credit unions should follow.
The House Financial Services Committee will conduct a hearing on Rep. Jeb Hensarling’s (R-Texas) Financial CHOICE Act next week. CUNA President/CEO Jim Nussle said CUNA appreciated the effort to bring regulatory relief to credit unions and other institutions.