post archives

September 17, 2013

5 reasons why fee-free banking was right for First West—and might be right for your credit union

According to a recent Maclean’s article, there’s a sleep crisis in North America and technology is partly to blame. I’m not usually tempted away from 40 winks by my smartphone or laptop. No, for me, business decisions are sometimes the culprit robbing me of slumber, like when we...

July 29, 2013

3 things credit unions can learn from Netflix

In the business limelight of late is Netflix, which really seems to be shaking things up in the entertainment industry. Netflix wants to be HBO, its executives are saying1, but here’s the kicker: they want to be doing what HBO does before HBO can do what Netflix does. By reaching for that, they’re actually aiming to be more than HBO.

Netflix leaders seem to have in mind something we...

July 29, 2013

3 things credit unions can learn from Netflix

In the business limelight of late is Netflix, which really seems to be shaking things up in the entertainment industry. Netflix wants to be HBO, its executives are saying1, but here’s the kicker: they want to be doing what HBO does before HBO can do what Netflix does. By reaching for that, they’re actually aiming to be more than HBO.

Netflix leaders seem to have in mind something we...

June 3, 2013

Pointers for grounding innovation efforts in your organization

When I joined First West two years ago, I knew right away I was signing up for something innovative in and of itself. First West’s stay local, work big, achieve more model means that it has three unique retail brands nested within a non-consumer-facing parent brand. Not unusual in the business world, but certainly unique in the more staid and traditional credit union system.

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May 28, 2013

It seems everyone and their dog is innovating these days. But do the claims lack teeth—and does it matter in financial services?

When one thinks innovation, traditional industries like financial services aren’t the first to come to mind. That’s often reserved for technology-based business or manufacturing. But as of late, the marketplace is seeing more and more claims of innovation—and from all corners, major financial players and credit unions...

March 20, 2013

3 reasons membership growth should matter to your credit union

As Chief Financial Officer, I spend a lot of time examining indicators of financial health—the things you’d expect from the head finance guy: ROA, expense ratio, operational efficiency, the bottom line of course, and others. But there’s one number that I’ve learned to pay equal attention to over the last few years because it’s a vital sign for any credit union—membership...