Big Ideas for Credit Unions
Are blasts from the past holding you back?
As a Wordsmith (that’s the official title I put on my business cards, anyway), I’m a big fan of new words. I recently ran across a doozy: skeuomorph, an object or element of design that serves no real purpose, but only echoes some past object. For example, many calendar applications on modern-day computers and mobile…
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Carrot or stick? I prefer a club.
Everybody knows that a carrot is the reward for doing something right, and the stick is the punishment for when you don’t. Well, banks have typically used sticks instead of carrots to get people to act in a certain way, and lately, some credit unions have followed their lead. Instead of enticing people with carrots,…
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The-Word-That-Must-Not-Be-Named
Harry Potter reruns have been on TV lately, and every time I hear “He-Who-Must-Not-Be-Named,” I start thinking about other words that are rarely spoken for fear of retribution. “Profitable” is one of those words that you may never hear at a credit union. At least, spoken out loud. Yes, I know that credit unions are…
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It’s nothing business, it’s personal
When you come right down to it, businesses have a responsibility to maximize profit for their investors and shareholders. Every decision and every action is based on boosting the bottom line before the competition steals market share. Yes, I know that’s pretty cynical, and sure, a business can be known for doing the right thing…
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Is your CUlture risk averse?
Morgan Spurlock, known for his film “Super Size Me,” spoke at TED and shared everything he had to go through in order to present his movie idea for “The Greatest Movie Ever Sold” to the brands he was trying to get to become sponsors and part of the movie. It was entertaining to watch Spurlock poke…
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Five modest proposals
The only thing that’s stayed the same for credit unions is that things are changing fast. Sources of fee income are shrinking, expenses are rising, and margins are squeezed tighter than ever. Things are getting Weird with a capital “W”. It’s time to Think the unthinkable and ponder the outrageous. “When the going gets weird, the…
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Pay-what-you-want banking?
If you were opening a new restaurant, would you consider letting your customers decide what to pay? Panera re-opened a restaurant as a nonprofit in Clayton MO, asking their customers to “pay-what-you-want” for their meals. Cashiers do tell customers a “suggested” price, and there are workers at the door to explain the concept that it is…
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Is your lizard brain holding you back?
Having problems getting things done? Easier to answer email, tweet or check Facebook than get that unfinished project finished? Like the idea of a trimmer, healthier body but your willpower just can’t resist the call of ice cream when your favorite TV shows are on? Well, there may be a reason. And even better, it…
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Dog Fooding
You’ve probably heard the term “eating your own dog food” before. It means that everyone on your team also needs to be a consumer or user of your product. Whether it’s dog food or checking accounts, “Dog Fooding” is a great way to ensure everyone really understands your product. How many of your accounts and…
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This stuff really annoys me
Instead of looking at the big picture – the country’s economic problems, global warming, and what to get your brother-in-law for Christmas – the folks at Consumer Reports decided to do a survey about what annoys each of us the most. They presented people with a list of 21 items that they were then asked…
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