On Mergers, Mobile and Being the First

CUES managing editor and publisher Theresa Witham
Theresa Witham Photo
VP/Publications & Publisher

2 minutes

This month we’re covering some big topics for credit unions. 

First, check out our cover story on making mobile easy. Kate Rogers, chief innovation officer at $590 million University of Illinois Community Credit Union, says about 85% of the CU’s logins are on a mobile device. So, her team’s goal is to make it as easy as possible to sign in to mobile banking. 

And as CUES member Joe Lovasz, VP/products and payments at $5 billion Virginia Credit Union, says, it is important to offer members the ability to seamlessly make payments—to the credit union in particular. “They look at it and say, ‘I’m trying to give you money. Don’t make it hard.’” Read more in “Take It Easy.”

We’re also featuring growth strategies in “Getting the Most From Mergers.” Even if you don’t have merger plans in place, you need a strategy in case an opportunity presents itself. “One of the exercises I encourage credit unions to undertake is to consider their future under various merger scenarios,” says Glenn Christensen, president/CEO of CEO Advisory Group, a consultancy firm specializing in credit union mergers and bank acquisitions. “What would it look [like] if you were an acquiring credit union, a merger of equals or if you were to be acquired? And what would your future look like if you were to rely strictly on organic growth?”

For perspective on mergers in Canada and creating a cohesive culture, read “Managing Mergers Needs Communication, Maybe Even Love.”

You can make life easier for your board—and staff—by adopting a board portal. Read how high-performing boards make use of them in “Breaking out of the Board Portal Box.” 

“The move to electronic board packages has really streamlined meetings a lot,” says CUES member Bob Falk, president/CEO of $1.8 billion Purdue Federal Credit Union, which has used OnBoard since its inception. “We can make changes on the fly to an agenda. We can tweak a board packet. … Paper-wise, you couldn’t easily do that. Directors just seem like they’re well-engaged in the meetings. We’re having better dialogues, discussions and meetings since we’ve gone electronic, … and it continues to get better as more folks get comfortable with it.”

Finally, we are bringing to print one of our online features from the quarterly Advancing Women digital publication. In “Lessons Learned From the Firsts,” read about the experiences of four female CEOs who are the first women to lead their credit unions and what they suggest for other “firsts” who aspire to the top spot. cues icon

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