Originally published June 25, 2012 on CUinsight.com.
A commonly-referenced description of credit unions states that credit unions are “not for profit, but for service.” With that thought in mind, allow me to reflect on a credit union planning session I facilitated a couple of years ago. Session participants, a mixture of board members and senior executives, were fixated on service. They kept saying that the value the credit union should work to maximize was its service value. “We need to be better at service!” they would say. This went on for some time until finally the CEO asked, somewhat exasperatedly, “What is service!?” What a great question. Read more