Comments for Glatt Consulting, LLC

Comment on The Problem With Looking Inside Out by Tom Glatt

Tom Glatt — Thu, 19 Jan 2012 21:40:23 +0000

Cary…

Thanks for your comments. Just to be clear, I never said that members of Main Street Financial were not informed, only that to look at what information is publicly available on the website you would never know that the credit union was entertaining a merger, or that times were tough. I suppose one could argue that such information is not appropriate for public consumption, but I disagree with that viewpoint.

In any case, I do agree with your thoughts on implementing processes designed to offer back and forth dialogue with members on proposed mergers. It would certainly help boards gain that “outside-in” perspective I advocate in this post. I also believe that any credit union undertaking a merger would do well to use the Internet more broadly for building the case to merge than most credit unions do today. The Internet and its channels are valuable communication vehicles that can be used to great effect in strategically positioning organizational decisions.

Tom

Comment on The Problem With Looking Inside Out by Cary Anderson

Cary Anderson — Thu, 19 Jan 2012 20:53:30 +0000

Tom, I read your comments in regard to Main Street Financial and you missed the mark in saying our members were not informed about the financial struggles, we always provided full and honest reports to the members in the annual report. In addition members were sent special letters updating them on conditions. Before making broad statements you should check out the facts. I left the credit union on December 1st and do not know how the board sold this to members. Apparently it wasn’t done right. I think the merger regs need to be updated to provide more time between when ballots are mailed and the merger meeting. I would go as far to say that special informational meetings should be required so all members can ask questions and voice an opinion prior to the vote.

Comment on Mission? Vision? Why Bother!? by rterr2000

rterr2000 — Fri, 05 Aug 2011 03:26:50 +0000

Awesome. I better understand how vision and mission can bring an organization “from board to consumer” together to fight “for the same inspired future”. I love it.

Comment on The 4 Components of Sales Infrastructure by Tom Glatt

Tom Glatt — Wed, 03 Aug 2011 11:47:22 +0000

Randy

Love the suggested terminology. Financial relationships is the target goal – not sales.

Comment on The 4 Components of Sales Infrastructure by Brad Roteman

Brad Roteman — Wed, 03 Aug 2011 10:12:38 +0000

1. At Healthcare Federal CU in Virginia we have developed a service and sales culture that has achieved significant results and we pay NO commissions! Our checking to savings is at 85% this year and has not been below 47% which we netted in the first year of our transition. The national average for credit unions our size is 41%! We have done this by making the matching of the right services to the needs and ability to pay of our members a moral obligation.
We utilize a copyrighted 9 Ps of Professional Service and Sales, our Core Purpose and 3 mantras, two of which are ours and one is borrowed form the author of the best selling book on sales ever written, Tom Hopkins. We train and coach continually to help our team become the best they can be at helping people to improve their lives through the products and services we offer. Anyone interested in more information on how we do this may reach me at broteman@hsfcu1.org

Comment on The 4 Components of Sales Infrastructure by Randy Schultz

Randy Schultz — Tue, 02 Aug 2011 16:33:51 +0000

What happens if we make this a “Relationship-focused” infrastructure rather than a “sales-focused” infrastructure as it relates to credit unions, Tom? We’re seeing that shift with many of our clients as a differentiator between banking sales culture and what credit unions are trying to build with members…a trusted relationship that leads to a more solid wallet share as the bond between the two parties becomes closer.

Comment on Is Your Credit Union Competent? by Casey Boggs

Casey Boggs — Mon, 25 Jul 2011 18:40:09 +0000

A very timely and relevant post, Tom. Credit unions appear to be in a fortuitous position to be the leaders in providing financial services to the public…but sadly, most are not ready (or competent) to take on that role…perhaps by choice or lack of “know how.”

Comment on The Vendor Breakdown… by Mark Arnold

Mark Arnold — Mon, 18 Jul 2011 13:14:37 +0000

Tom,

Great insights and you are spot on. I would suggest that credit unions must also avoid the vendor complacency trap. It’s too easy to continue using the same vendors for the same services over and over again. Credit unions that routinely monitor those relationships are far more successful. Every year or six months credit unions should conduct an analysis of those relationships to make sure they are still working.

Mark

Comment on Thomas A. Glatt, Jr. by Glatt to Speak on Critical Services Vendor Selection | Glatt Consulting, LLC

Thu, 14 Jul 2011 14:32:21 +0000

[...] Thomas A. Glatt, Jr. [...]

Comment on Thomas A. Glatt, Jr. by Glatt to Speak on Member Business & Social Media | Glatt Consulting, LLC

Thu, 14 Jul 2011 14:30:04 +0000

[...] Thomas A. Glatt, Jr. [...]