Small Credit Union Leaders from Across the Region Gather at MAXX to Collaborate and Share Ideas
October 15, 2019
10/16/2019National Credit Union Administration Board Member, Todd Harper, addresses small credit union leaders at MAXX during the Small Credit Union Roundtable in Spokane.
One of the largest small credit union gatherings in the nation kicked off Tuesday morning during the Northwest Credit Union Association’s (NWCUA) MAXX convention in Spokane.
More than 70 leaders with small Northwest credit unions gathered to discuss key issues facing the industry, including the evolving lending landscape, diversity and inclusion, culture, changing member demographics, technology, and more.
Small Credit Union Roundtable attendees heard from National Credit Union Administration (NCUA) Board Member, Todd Harper, Scott Butterfield with Your Credit Union Partner, and NWCUA President and CEO, Troy Stang.
Harper told attendees he’s focused on four priorities, including capital and liquidity, responsibilities to consumer financial protection, cybersecurity, and inclusion.
Cybersecurity, Harper noted, is critically important.
“It’s a big concern within the NCUA Board, and we plan to add resources” to address those concerns, he said.
Harper also stressed he’s focused on continuing to find ways to ease the regulatory burdens small credit unions face, which resulted in a hearty round of applause from attendees.
Harper discussed how unique small credit unions are in their capabilities to offer personalized member services. He called out Point West Credit Union, of Portland, specifically, and how it changed the life of one member who walked in looking for a small loan to replace tires on her family’s vehicle, and walked out with a new focus – starting her own business, Sara’s Tamales in Portland.
“Point West changed a person’s life,” Harper said. “The credit union loaned her $500 (to purchase food supplies). Today, she employs six people and they own their own home. The credit union changed the life of that family.”
During his presentation, Butterfield stressed that small credit unions are stronger when they collaborate and work together, sharing ideas and best practices.
“Some of the best collaboration comes from the Pacific Northwest,” Butterfield said. “We’re in this together. What we do matters.”
He stressed that credit unions must keep up with the latest fintech advances, as they are encroaching further and further into credit unions’ bottom lines, taking current and potential member business away.
“While we’re worrying about banks, we’ve got fintech out there grabbing our members,” he told attendees. “We must embrace technology, but the personal touch must also remain. We must find our niche.”
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Posted in MAXX Annual Convention.