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| Simpson: Collaboration key to Tackling Challenges |
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Industry collaboration is vital to tackling the challenges facing the credit union movement, and it’s work that strengthens cooperative finance. America’s Credit Unions President/CEO Scott Simpson recorded these thoughts on CUBroadcast during the recent Montana’s Credit Unions Power Up Conference, sharing what he’s learned traveling the country, the collaboration needed to combat fraud, and the importance of sharing stories that relate to policymakers as well as future credit union members looking for more out of financial services.
“The distinction of the credit union movement is the people, people helping people. We’ve said it forever, but what I fear is that the work that we do every day can lead us to just dismiss it as just a transaction, when in fact it was a transformational experience in the life of some member,” he said. “Something is happening in our branches every day to transform lives, and we just need to industrialize the capture and re-telling of those stories.”
Simpson also pushed back against arguments that credit union growth means they are straying from their mission, instead emphasizing that growth means more access to member-first financial cooperatives.
“Banker arguments are all superficial. All of them. They are based on one foundational lie that growth is somehow a departure from being a cooperative, and that’s not true,” Simpsons said. “We have to be the ones to counter that cosmetic observation with the context that makes their argument evaporate.
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