JAMESBURG, N.J. - Three influential CEOs from credit unions of various sizes spoke at the last Executive Leadership Series session of 2010 on Monday. Twenty credit union leaders and professionals, also from credit unions of all shapes and sizes, attended the CEO panel session and found a great amount of knowledge and insight to bring back to their credit unions.
PSECU CEO Smith discussing his credit union's branchless, self-service model.
Greg Smith, president of Pennsylvania State Employees Credit Union (PSECU), kicked off the session with his credit union's unique approach to banking: a branchless, self-service model. He spoke of the benefits of this Internet-based model - the credit union's charter and FOM covers all 67 counties of Pennsylvania - and the high-convenience, low-cost structure of service. Smith spoke of his dedicated IT department and the major concern of security. Smith gave attendees valuable insight into meeting consumers' demand for mobile banking while also keeping the credit union's security and success in mind.
Cousminer enlightening the audience with Bethex FCU's
success with serving remittance companies.
President and CEO of Bethex Federal Credit Union Joy Cousminer brought her extensive industry experience to her session. Part of Bethex FCU's success is its ability to serve remittance companies like Western Union and check cashers, a very lucrative business for credit unions, according to Cousminer. The CEO focused on the operations the credit union needed to adopt in order to offer services to these companies and the added compliance, due diligence, and technology needed.
The crowd listening to small credit union CEO Morrisey on his credit union's successes.
From the faith-based and completely volunteer-run Queen of Peace Arlington Federal Credit Union, Treasurer/CEO Dan Morrisey spoke of the keys to his small credit union's success: finding ways to serve a wide array of people, promoting the credit union and its services at all times, and remaining flexible. Speaking candidly, Morrisey focused on a challenge facing small and large credit unions alike: the belief that "we have always done it that way, so we'll continue to do it that way". To succeed, a credit union needs to be innovative and flexible at every level from the board to its staff.
Keep in mind the 2011 Executive Leadership Series! We'll post information as soon as it becomes available.