WOCCU's Haiti video on YouTube

The video of the World Council of Credit Unions' efforts helping earthquake survivors and credit unions in Hait and other efforts in other countries is now on YouTube.  The video debuted during President/CEO Pete Crear's address in Monday's general session.

To access the video on YouTube, use one of these links:

http://www.youtube.com/watch?v=QHoQnfjifgc or

http://youtu.be/QHoQnfjifgc

 

More from Jim Collins: Confront the age fact in CUs

Turn the darkest days into the defining moment of your life, says Jim Collins, today's keynoter, in the general session of The 1 CU Conference. Faith in the facts characterizes climb to success and failure to deal with the facts breeds a fall.

CUs face brutal facts: CUs are smaller than large financial institutions who can deal with increasing burden of regulation and opportunities, he says. "A brutal fact: The average age of members is going up. I challenge you to confront that fact. How are we going to get this next generation apart of themovement. They distrust institutions, and they require different mechanisms..but it must be done."

"We will figure out how to make the most of the opportunity: one giant towering truth: We can be trusted, and run well, who on earth can provide a better deal?"

Fact: age is going out. Faith  is in going to the next generation.

Stage five: On the way down, we are grasping for false hope, but if there is a cause, as opposed to the bottom line, it matters that we're here.What would be loss if CUs disappeared? We're not just a collection off financial entities. All great institutions have deep roots that go beyond making money.  Without that background of core values, no institution, no society can go on and on.

CUs' values and members ' values in a circle, potentially very powerful.

Paradox: Have a sense of purpose that's not open to change/compromise/legislation, but things are changing. We have members communicating differences. Must preserve the underlining core and still function with change.

 

Collins: stage two of decline

How do the mightly fall? asks The 1 CU Conference speaker Jim Collins, author of  Good to Great.

The hubris of success leads to overreaching--too much expansion and growth, risk--brings the company another step forward  in the failure cycle, he tells the attendees.

"Get the right people on the bus, the wrong people off the bus, right people in key leadership positions, then drive the bus." Have 100% of key seats filled with the right people, he advises.

 A stage signaling a falling institution is denial of risk and failure--the precurser to "the very big fall." This means risks are festering inside while the company's outer appearance is success, Collins says.

 

Keynote speaker Jim Collins talks about great movements

The great work of the worldwide CU movement. was addressed by keynote speaker Jim Collins at Monday's general session.But he added: "You cannot settle for doing only good work; you must also do great  work. Good is the enemy of great." The keynote speaker is author of  "Good to Great."

Greatness is largely a function of conscious choice and discipline, he said. He outlined the steps of those who fall, which starts with the hubris of success: Success isn't always a precursor to failure, but those who combine arrogance with their success are at the first stage of failure.

Leaders of the "great" companies have level 5 leadership, not level 4.  What stood out of the great, level 5 leadership: humility.

The signature isn't their towering personality or genius, but humility--a passionate, burning, driven, ambition for their company, movement, members--but not ambition just for themselves.

Fours are in it for themselves; the fives are in it for the cause, Collins said.. Leadership in the social sector--ie. nonprofits/CUs--have absolute level five, because the power is different in the system--it's more diffuse.The more the diffuse points of power, the higher the level needed.  Leadership exists only when the  members choose to follow when they don't have to, Collins added.

Haiti video notes CUs' efforts to help Haitians recover

"It will take a long time and great efforts from other organizations to help us restore our offices," says a CEO whose CU in Haiti was reduced to rubble by the Jan. 12 earthquake, in a WOCCU video about WOCCU's efforts worldwide. The video was presented as part of today's general session.

One CEO is operating a CU from a tent. Even CUs with no damage are at risk  because of members' losses due to the earthquake. Microfinance loans are needed. Funds collected from the world's CUs are helping create loans.

"Our work is cut out for us," said WOCCU President/CEO Pete Crear, and Haiti demonstrates the need that require a world CU community to help.  We are really one CU movement, united in our desires to help those in need. We can accomplish anything by working together,  concluded Crear.

WOCCU's Crear outlines worldwide efforts

WOCCU's CEO Pete Crear outlined several WOCCU programs, inclouding international partnerships in Mexico--almost 95% of residents lack access to financial services. WOCCU is helping members get service with people on motorcycles with mobile units for transactions. Matched savings programs helped residents improve their life.

More than 100 Africans are at the conference, with half from Kenya. WOCCU's helping with a day care project for an orphans.

Haiti's CUs have a special challenge "under the worse conditions imaginable." World CU leaders visited Haiti after the Jan. 12 earthquake...

Crear has introduced a video of the earthquake and its aftermath...

WOCCU President/CEO Pete Crear addresses The 1

Pete Crear noted that Uganda is represented at the conference and offered condolences on behalf of the worldwide CU family to Uganda on the bombing that occurred yesterday, killing 65 people.

He talked to "2800 of my closest friends" in acknowledging support of WOCCU that has been received by CUNA, and noting the historic event (referring to the joint conference of WOCCU and CUNA).

Movement is characterized as much by single room offices in Africa to multiple story

In 97 countries, 49,000 CUs served 184 million people worldwide.  CUs  have aggregated savings totaled US$1.1trillion. CUs' loans increase by $65 billion in 2009 over 2008. CUs helping a lot of members in a lot of places.

Cheney on growth and public awareness

New CUNA CEO Bill Cheney says CUNA needs to help grow the credit union system and work with the World Council of CUs (WOCCU) on its global efforts. He made the comments in the opening general session Monday at The 1 CU Conference. 

On capital reform: "We have an antiquated, one-size-fits-all system in the U.S. We need to grow and give our regulators the tools....this is also a worldwide issue." He noted WOCCU has a seat at the table in discussions with the Basel Committee on its drafting of international capital standards.

Time is now to take action on legislation pending today to give CUs more capacity to make business loans, Cheney said. Sen.Mark Udall's amendment would raise the member business lending cap to27.5%. "Without costing taxpayers a dime," he said.

Sen. Barry Reid, Nev., has told CUNA if there is bipartisan support, his committee will introduce the amendment.

Cheny urged U.S. CUs to contact their legislators with the message: Bank lending has declined, CUs lending is up.

 

Bill Cheney's first speech as CUNA president/CEO

Bill Cheney's first speech as CUNA president/CEO discusses challenges we face: Interchange...member business lending ...alternative capital.

On interchange, CUs made more than 700,00 contacts to Congress and 1,000 visits on the Hill. "But unfortunately our efforts fell a bit short ... CUs support the goal of regulatory reform (but without the interchange amendment).  We worked hard to improve it and had a series of provisions...but one area we fell short was interchange.

The battle still is not over. Fed has a year to work on the details, he says.

"We have to grow a stronger grassroots base. We can't let others define our future for us."

Mica honored with $222,000 contribution to CU House

Bill Raker, president of US FCU, Burnsides, Minn., has presented a check from the National CU Roundtable with a $222,000 contribution to the Credit Union House in Washington, D.C.,in honor of Dan Mica's outstanding achievements during his tenure as president/CEO of CUNA.

Monday's general session

We're in the General Session at The 1 CU Conference, in Las Vegas, where the master of ceremonies is warming up the audience.

On today's agenda will be Bill Cheney's first speech as the new president/CEO, who will be introduced by former president/CEO Dan Mica...Mica is on the stage now, saying,"Isn't it great to be part of the world CU  movement?" The response from the audience: cheers.

Mica is ticking off Cheney's 25 years of CU experience--an experience that Mica says he didn't have when he took the helm of CUNA 10 years ago.  Cheney works with 60 Calif. Congressmen and Senators, he has the experience, the desire to have what it takes to lead CUNA, Mica says.

The World Cup and The 1 CU Conference

The World Cup finals in soccer today was very much in evidence at the MGM Grand Hotel and Conference Center, where The 1 Credit Union Conference is being hosted by CUNA and WOCCU.

The mile-wide (slight exaggeration) registration desk had floor to ceiling high definition TV monitors of the games, hundreds of them (gross exaggeration), so while standing forever (not an exaggeration) in line to check into the hotel, conference attendees were treated to  periodic en masse groans, hoots of derision and cheers (depending on which team one was rooting for) from those in the lobby watching the game.

When I received my room assignment, I took the elevator up, found the room, and before I could put the key card in the door slot, was greeted by a raucous party--inside my room. From the cheers, it sounded like the guys were enjoying the the World Cup game. I ended up in another room, but a fellow CUNA employee says he thinks the partiers just moved next to his room.

Las Vegas is a giant video kind of town. Its airport has huge, can't-be-ignored (because your eyes are glued to them) commercials of all the city's well-known acts in, of all places, the baggage claim area. It makes waiting for the luggage to arrive a little more interesting.

 

Jolette discusses global unity and the individual

World Council of Credit Unions Chairman Barry Jolette, in his address before the assembly, says greater global unity requires efforts not only on the part of the institutution and its trade association but also from individuals involved in the movement.  

"As U.S. credit unions have often heard, a movement begins at the grassroots level one person at a time and it grows with the addition of each new voice and the involvement of each helping hand," he said. "That movement will never stop growing until the needs of all its members are met.”

Jolette is president/CEO of San Mateo CU, Redwood City, Calif.

May announces CUNA study on the burdens of regulation

During her address to The 1 CU Conference Sunday, Harriet May announced that CUNA, under the auspices of its Examination and Supervision subcommittee will conduct a survey of member CUs to address the growing regulatory burden that CUs face today.

"We want to know what credit unions view as their most significant regulatory burdens," she told those assembled. "We think we know, but we want to be sure."

The survey will help CUNA quantify the costs, person-hours spent, resources diverted to comply with all of these requirements.

"The survey results will be helpful as CUNA increases its emphasis with the National Credit Union Administration and policy makers that they need to be more cognizant of the growing regulatory burden on credit unions--the costs it imposes and the ways it can inhibit credit unions from carrying out their primary mission of member service," May said.

BTW, a breakout session on the topic, "Coping with a Growing Compliance Burden: What Credit Union Directors Need to Know,"will be in Room 319 at 1:45-3 p.m. on Monday.

Harriet May outlines what's bothering CUs

Harriet May, CUNA chairman and  president/CEO of GECU of EL Paso, Texas, addressed the group, outlining issues that face U.S. credit unions from the economy and  increasing legislative and regulatory changes.

The economy and financial meltdown have:

• Underscored for U.S. credit unions the importance of capital, with CUNA’s priority to create a means to pursue secondary capital--“a change we’ve been seeking for years”;
• Presented an opportunity for more people to discover credit unions. “We’ve added new members--1.2 million in 2009, bringing our total to nearly 92 million Americans (about one in four) who are credit union members,” May said, adding that national media have been filled with good stories about credit unions. “We think the gains we have seen in consumer awareness will last and benefit credit unions in the long-term…” 
• Resulted in difficulty for small businesses in getting credit from banks, which is an opportunity for credit unions. “We have been urging Congress to pass a bill that would raise the limit on the amount of small business loans credit unions can make” and  “it wouldn’t cost taxpayers a dime,” she added.  

 

The conference officially begins

The 1 Credit Union Conference has begun with an Elvis impersonator and the cell phone cameras are flashing....now there's the introduction of the CUNA Board and WOCCU...now the countries are being introduced...Australia is first and cheers for each country ... Brazil gets a cheer, followed by a bigger one for Canada.... however, I don't see many native costumes, mostly business wear...

 Now Ireland's group is standing and cheering..and Kenya's large contingent...

 

Passenger on flight says he's thinking about switching to a credit union

While I was on the flight from Madison,Wis., to Memphis,Tenn. (taking the long route to The 1 Credit Union Conference in Vegas), the passenger next to me, who was on his way to a conference in Austin,Texas, struck up a conversation, which led to credit unions.

He seemed familiar with credit unions--knew they were financial insitutions--but he asked what the difference was between a bank and a credit union.

So I told him about the cooperative structure--members, instead of shareholders own the CU...they're run by volunteer boards... they return funds to members with better rates and lower fees and so on.

He mentioned he is a customer at US Bank and is thinking about joining either the University of Wisconsin CU or Heartland CU in Madison because he's not satisfied with the bank's policies and changes in fees.

He was surprised that credit unions  have a shared branching network. That will make credit unions a lot more convenient, he said.

Registration at The 1 Credit Union Conference begins

Only an hour and a half before the big event--The 1 Credit Union Conference here in sunny and hot (97 degrees at 12:30 and climbing) Los Vegas--begins, and the steady stream of attendees from 60 countries picking up their registration packets at the conference'sWelcome Center is slowing. No doubt people are heading back to their rooms to dress in their country's costumes for the flag parade of countries,which begins at 5 p.m. PT.

The joint, one-time-only conference is presented by the Credit Union National Association and the World Council of Credit Unions (WOCCU).

Yesterday, the Global Women'sLeadershipNetwork had its golf outing and today it held its forum. More about that later...

AlsoWOCCU's Young Credit Union People (WYCUP) met today...More about that later...