A Direct Line Blog

By Donya Parrish, MCU VP Risk Management

This week, an article by Scott Butterfield with Your Credit Union Partner really resonated with me. I have heard a lot of the “ties” he discusses when visiting with credit unions across Montana. Sometimes they are valid concerns and other times they are perceived hurdles that continue for years without anyone exploring the source or braving moving past it.

In his article, Break the Ties That Bind You, Scott mentions these as barriers that credit unions put up to growth and change:

• We can’t do it with a small staff
• We can’t afford it
• Our board will never support it
• Our examiners will never support it
• We’ve never done it that way before

In addition to noting some of the unfortunate outcomes these ties can create, Scott also provides suggestions for both board members and CEOs to overcome them. Maybe your next board meeting is a good time to take an inventory of some of the places your credit union is avoiding risk. It can be a good conversation about why and whether it is worth working past it.

Change is not always comfortable or easy, but as he also notes, “I’m reminded of the many small credit unions that I know today that are thriving. They are growing, profitable and preparing for the future.” That is something to celebrate, no matter the size of the credit union!