McLean Hosts Roundtable Discussion for Credit Unions Over $100 Million
Ron McLean, President/CEO of the Cooperative Credit Union Association, hosted a virtual roundtable discussion for CEOs of member credit unions with assets over $100 million yesterday, providing an online forum for CEOs from four states to exchange ideas and discuss key issues.
Roundtable highlights included the following:
- • Credit union discussion and information sharing took place on topics such as staffing and branch operations, investment strategies, top challenges facing credit unions, online member enhancements, organizational culture, and more.
- • An update from Jim Langer, Sales Manager, Eastern Region for CUNA Mutual Group. Jim shared a few key highlights from 2020 along with how their “People First” strategy helped them to successfully navigate the pandemic. Looking ahead at 2021 and beyond, Jim noted a few items in the pipeline at CMG. They plan to accelerate and continue with their mobile first approach and stay committed to providing the best options in the digital marketplace.
- • The group also learned about some of the lingering effects of the pandemic on the credit union industry from PSCU, President/CEO Chuck Fagan. Chuck described these effects in a “Top 10” list. Chuck noted that credit unions have been faced with forced digital modernization notwithstanding increased financial pressures. As part of the “Top 10” list, he pointed out that credit unions will need to find new revenue drivers as interchange income and auto loan volume has decreased. Most notably, Chuck stressed that now, more than ever, credit union members want a personalized experience, whether that is digitally or in a branch.