While reading Mark Arnold's fantastic article, "Is Your Credit Union Getting Better or Worse?" I was struck by how we perceive change. Specifically, how in the credit union world, 6 months to complete a new initiative is the norm, rather than the exception.
In the article, Mark makes the argument that your credit union is either getting better or worse - there is no in between.
Please note I didn’t say your credit union is either getting bigger or smaller; or that your loans are growing or shrinking; or that your membership is going up or down. I said your credit union is either getting better or worse. Why word it that way? Because numbers can sometimes mislead. You can adopt multiple strategies to grow assets, loans and members but they may not bring you that organic growth that represents true forward movement.
In finance institutions, especially credit unions, we have a tendency to drag things out wayyyyy longer than we should. After a a new initiative is introduced it takes meetings, referrals, memos, running it down the line and miles of red tape before change actually happens.
I'd like to add something to Mark's list. In addition to some of the fantastic things on his list, I'd like to add that change doesn't come until it actually happens. Change doesn't lie in attempts. To create change, we have to get rid of all the red tape that surrounds it.
A lot of time we try to push initiatives and they end up stymied by the fact that vehicles of change in our industry is slow.
As credit unions, lets recognize that change is integral to our future success. When innovative ideas are presented, work to get them implemented sooner rather than later.
That's some change I can believe in!