A Look Back at a Momentous Year

It has been a year full of change and progress in the credit union movement. Northwest Credit Union Association CEO John Annaloro reflected on an eventful 2011 as the movement now turns its attention to all the opportunities and challenges to come in 2012.

 

The highlight of 2011 certainly has to be the completion of the merger of the Oregon Association and former Washington League. By joining together, we have unlocked additional resources which were needed to amend the operating environment that had become so challenging in this post-crisis financial world.


Within this new framework three particular milestones for the year were the most meaningful to me, personally.

The first was setting “advancement of the state charter(s)” as a top strategic priority of the new NWCUA by the board of directors. A great association needs to have forward-looking board, and governance in this inaugural year has been excellent. Appreciation is due to all of the volunteers on the board for charting the smartest of directions.


The second is the bigger sense of family, and the energy that could be felt at the 2011 Convention and Annual Business Meeting. Credit unions are a unique segment of American business, in that they collaborate to leverage their individual strengths-making the sum more powerful than the institutions alone. Seeing everyone together at the Convention made our new power tangible to everyone.


The last is the self-inflicted damage that U.S. banking system has done to itself by creating this recessionary crisis, along with the resulting public awareness of the excellence and alternatives in the American credit union system. Our Northwest credit unions have been here for consumers all along, but our recent “discovery” by individuals and the mainstream press may signal a permanent change in membership and market share. In this regard, 2011 may become a most memorable year.

John Annaloro


Of course, even as we celebrate the passing of another year, the entire credit union movement has an eye on the future. With that in mind, Anthem’s first edition in the New Year will include a look ahead at what 2012 has in store from credit unions in the Northwest from NWCUA President Troy Stang.

Questions or Concerns? Contact Matt Halvorson, Anthem Editor: mhalvorson@nwcua.org.

Posted in Compliance, NWCUA.