Pay for Performance and Reputation Risk

An increasing trend in the financial services sector is “pay for performance.” This practice shows up in several formats: Commission – rep is paid a percentage of balances acquired Incentive – rep is paid per closed referral Bonus – rep is paid based on goal performance over a set period (per month, quarter, bi-annually, annually)…

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Branching Strategy, It Starts with the Member

Historically branches are seen as transaction channels. Today, this view of branches has changed and continues to evolve. Members and potential members like the convenience of brick and mortar, they like the demonstration of financial strength and security. Still, the truth is, they rely less on branches for their daily, weekly, and monthly transaction business…

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2020, Don’t Wimp Out Now

Are you a resolutions person? I’m not a big fan of resolutions. It seems they are just another way to procrastinate what you should have done days, weeks, months, or even years ago. What I prefer to do to celebrate a new year is to evaluate, reinvent, and re-energize my focus and attention. How do…

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Drifting Into the Sunset = Credit Union Risk

Many of us have seen this from afar, some of us from close at hand. The CEO is getting close to retirement and has set a course for the organization of just “drifting off into the sunset.” This syndrome happens when the strategic leader and driver of the credit union have decided to retire but…

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Credit Union Culture in a #metoo World

#Metoo has created a new world of awareness and change in our society. After reading multiple posts from family, friends, and co-workers, I was shocked at how widespread gender and sexual harassment was in the workplace. When you see #metoo posts from your daughter and daughter-in-law, it saddens me to the core. Everyone needs to…

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