UNDERGROUND Conference Catalyst for Intellectual Exchange
Sponsored by Member Value Network

Why call it the Underground Conference?  It sounds a little like you are trying to go beyond the norm, move outside the box and be rebels, even elitists.  No not elitists, just 30 executive activists that believe in the credit union system and want to try to mobilize the industry’s intellectual capital to enhance our opportunities through insightful dialogue – that has no boundaries, no vested businesses.  “We aren’t trying to do something for MVN but for the attendees by providing access to former leaders experience to help today’s leaders make better decisions.  It isn’t about politics, it is about business and the opportunity to participate in constructive debate to generate innovation,” declared Randy Karnes, CEO of CU*Answers and MVN Network cofounder. 
Thus began a day of intellectual exchange of contrasting opinions at the first Underground Conference on April 24^th.  The location was the exclusive Cascata Conference Center and the tone was set – contribute, be controversial and talk about it.   “Paul Parrish did us a favor.  It was a wake up call that should spur credit unions to enhance their value,” stated Chip Filson, Callahan & Associates.   Here’s a sampling of what was said and the top five issues.

1. Save credit union charters.  “Once we lose the footprint that comes with an individual credit union charter, it will be near to impossible to start anew “ stated Sue Mitchell, CEO of MSA, Inc.  Everyone seems to be taking for granted there will be fewer than 5000 credit unions (or even less).  Why not invent a new structure, such as the unit banking model where a holding company provides consolidated management services from CEO leadership to shared operations.  Action to be taken:  Develop a strategic business model that defines CU holding company structure.  Task Force:  Sue Mitchell, Randy Karnes.
2. “Community charters are supposed to help the community – not just sponsor charity events” commented, Judy McCartney, CEO of Orange County’s Credit Union.  The Treasury Department expects credit unions to make a REAL investment in their neighborhoods – help people of modest means, student loans, health care programs, etc.  There is grant money available to foster these programs.  Action:  Form a CU community cooperative task force to investigate best practices, grants, and pilot programs.  Task Force:  Judy McCartney, Chip Filson.
3. Don’t fight the GAO compensation disclosure issue.  “Do your members want the low bidder babysitting their children or managing their money,” asked Dave Doss, CEO of Arizona State Credit Union.  Be proactive in defining the message and prepare a communication plan that includes compensation components, the value of the position and talk with your membership.  “When we focus on the members, they know it and value our leadership” commented Jim Warren, CEO of Tyndall Credit Union.  Action:  Create a communication plan template.  Task Force:  Dave Doss, Mark Elliott.
4. Guest speaker, Brandi Stankovic, BLS Consulting challenged the group by observing that relevancy should not be a question, it should be the foundation of your credit union core business.  Why are credit unions not attracting new members, emerging markets and young adults? What have we learned from myspace.com?  What can we learn by watching American Idol to study their model.  “Consumers will change doctors because of the $40.00 fee associated with moving outside their primary area, what makes us think they won’t switch financial institution,” asked Mark Elliott, CEO of MVN Leadership Services.   Action:  WIIFM – What is in it for themember.  Task Force:  Jim Warren, Brandi Stankovic, Dave Rhamy.
5. Credit unions are not in the business to generate votes for NCUA.  However, we must communicate our business models and practices to all our governing and support organizations to ensure maximum cooperation. CUSOs are providing incredible service to credit unions today and we need to continue to enhance this model as a means of increasing cooperation and decreasing costs.  Action:  Form a political action group that joins together to communicate constructive position statements.  Task Force:  All

 To join a task force, just email Sue at msasmitchell@aol.com. 

Yes, there were other Underground discussion points and candid business disclosures.  Learn more by visiting membervaluenetwork.com or by contacting any MVN Partner.