ATLANTIC CITY, N.J. – According to Ed Speed, “unless you really want to make loans, you won’t.”
Speed riles up the crowd, challenging them to be bold.
The retired, and a bit controversial, Texas Dow ECU President/CEO asked the crowd at the 2013 CU Reality Check on Wednesday morning some telling questions regarding making loans: “Are you a credit union or a savings club?”, “Are you committed to restructuring your organization and to focus on consumer loans as your primary reason for existing?”, and “Do you really understand that trying to be all things to all members is a black hole that is hurtling you to glorious mediocrity?” just to name a few.
During his honest and thought-provoking presentation titled “Be Bold, Make Loans; and Don't Fear the Regulator”, Speed discussed his experience of “taking on the regulator” and not going with the crowd.
He stressed the importance of correctly structuring a credit union for today's environment and above all else finding ways to make loans.