From the editor
I love October! In Maryland, where I live, the weather is absolutely gorgeous, the trees are glorious and the fun decorations are starting to appear.
Some of my neighbors really get into Halloween. One family down the street tries to replicate a full-fledged horror film in their yard. There’s fog, music and really creepy mannequins. On Halloween night, the yard becomes a haunted house. Last year, I screamed so much louder than my son when the mannequin on the bench turned out to my neighbor in costume. As you can imagine, this house is extremely popular, since many of us enjoy a good scare—at least when it’s managed and expected.
This month in CU Management, we present you with a few scary topics and strategies to manage them. Our cover story about auto lending discusses the economic, demographic and technological changes that could signal rough times ahead. Turn to p. 10 to read more.
Also potentially terrifying: cybersecurity and fraud. I live just outside of Baltimore, which suffered a ransomware attack in May, taking down important systems for several weeks and affecting many areas of city life. What would your credit union do in a similar situation? Read “When to Pay Ransom” on p. 17, part of the larger feature “New Tools for New Fraud” that starts on p. 14.
I also like this time of year for thinking about personal and professional growth. My son transitioned to middle school this year, which is scary in a different way. While we are all a little anxious about the change, true growth requires discomfort. How do you feel about your current career trajectory? If you are too comfortable, it might be time to consider your next steps. If you are curious about what it takes to be CEO, or if you are the CEO and you need to develop a succession plan, turn to p. 22, where we explore the education and skills needed for the top spot. It’s a syllabus of sorts for anyone aspiring to a leadership position.
Finally, we have a lovely treat for you. This month we are revealing a new website—CUES.org—with updated features to help you and your team members enhance your talent development. The easy-to-navigate website allows you find to topics of interest and offerings suited to everyone’s job or credit union role. Plus, you’ll get a comprehensive overview of all your CUES member benefits and be able to access them from one central spot. Be sure to check it out!