Why I "do" credit unions.

Two seemingly unrelated things came together for me this week. One is that yesterday was my second anniversary of being at Vancity and my entry into the credit union movement. The other is reuniting with some of my favourite past colleagues via Facebook and catching up on where we’re all at.

Explaining to people I used to work with in Los Angeles and Seattle why I’m working at a ‘bank’, which is a far cry from the brands I used to work on like Disney and Honda is not always an easy task. I left LA to find a lifestyle that was more aligned with my values, and that path inadvertently led me to credit unions.

Before Vancity, I worked at Telus, one of Canada’s top telecommunications companies, and the main telephone provider in BC. I enjoyed working there until the strike in 2005, but I never thought of myself as part of the telecom industry. It was just a job.

But being at Vancity, I have found myself attracted to the philosophy and work of credit unions. If you want to create social change, much of that has to do with money, and that’s where getting to the money via the banking industry is actually pretty exciting.

The link between my own engagement in the credit union movement became clearer when I saw a recent post on the always insightful OpenSourceCU. They were recently honoured as the first recipient of the Credit Union Global Spirit Award for translating philosophy into actions. This is a much-deserved accolade, based on their work helping credit unions reach their potential and engage the communities they serve in their mission.

It was awarded by Carol Schillios, whom I’ve never had the pleasure of meeting, but about whom I’ve heard so many amazing things.

The video on their page is the pivot point, the reason so many of us are passionate about credit unions. It is about the amazing work that Carol Schillios has done on behalf of credit unions with the world’s poorest people.

I have included it below. Powerful, powerful stuff.

Black Hole Blog.

An article in the newest (September 2007) edition of Enterprise Magazine features an interview with me. Black Hole Blog covers social media and how credit unions can embrace it. I talk about how CUs can respond to bloggers, and the writer, Laureen Griffin, also writes about ChangeEverything.ca.

She also interviewed Gene Blishen and Trey Reeme.

I’ve seen a few articles like this, but I thought this particular one was insightful. It must be hard to write an article that is at once basic and also helpful, knowing that your readers will range from those who don’t know social media at all, to those who are eager to try it out.

I like this quote a lot:

If a member of your credit union was standing in the middle of a town square in front of a rapt crowd, praising or criticizing your service or products, would you go outside and listen? If you could go to free credit union conferences to learn about the biggest innovations in credit union marketing, would you go? If your credit union could be the Roman Forum of the community, where people shared their concerns, and spoke from their hearts, would you do it? If you answered “yes,” then you are ready to dive into the blogosphere.

A nice way of framing the issue, I think.

Two great people from the conference in Spokane.

I met some great people at this past week’s Washington Credit Union League’s Annual Conference, and one of them was Matt Vance from Industrial Credit Union in Bellingham, Washington. He had a very neat idea.

Over a beer, Matt was telling a group of us about Industrial CU’s new Seahawks Super Saver Account, in which the weekly annual percentage rate of the savings account is based on the total yardage gained by the Seattle Seahawks in that week’s game.

For example: if the Seahawks gain 300 total net offensive yards in their next game you would earn 3.00% APY. The rate will then reset to the new total net offensive yards the first business day following the next game.

Now, personally, I couldn’t care less about football, but Matt was so into this product and the Seahawks, that his enthusiasm was infectious. Here’s a way to show that his CU is a part of their community and can offer a product to authentically capture local spirit. I thought it was great.

The other great person I met this week was Morriss Partee of EverythingCU. Moriss is great, I’ve followed his blog for some time and it was great to finally meet him. He wrote up a very funny anecdote that Matt shared – the downside of CUs trying to shorten their names down to just the acronym. A dangerous tactic, especially if your name is Industrial Credit Union.