Credit union charters – are they recyclable?

My tank is full. I am inspired. I’m ready to get to work on credit union strategic planning, not just for my clients – I mean a collective strategic plan. All thanks to the many conversations I had at the most recent GAC. The energy and ideas that were discussed in many meetings are now seeing some action. But there’s one that might be too big for just one person to accomplish.

“How do we avoid mergers?”

Ideas were plentiful, and of course, succession planning was discussed as an important matter. But what if…

What if every merger application to the NCUA was met with a list of things to be looked at before approving that merger to move forward? For example, prior to a merger being approved to proceed, what if it were a requirement to go to that community to ensure no one was left behind in terms of financial services. Perhaps the original group that chartered that credit union is no longer a growth opportunity, but I have to believe there are groups in every community that could benefit from a credit union. And if chartering a new one is such an uphill battle, let’s at least not kill off viable credit unions that could be re-purposed.

 

continue reading »