CEO Update: What a Difference a Year Makes

​It has been a whirlwind of a year, or more like an F5 Tornado. It all began following our 60th Annual Conference in Colorado Springs, built momentum throughout the fall of 2023, and reached peak intensity after last year’s American Association of Credit Union Leagues (AACUL) winter meeting. While the full story remains for another time, it’s been a period of immense growth and resilience.

DCUC stands stronger today than at any point in our history. As Friedrich Nietzsche famously wrote in Twilight of the Idols:
“Aus der Kriegsschule des Lebens. — Was mich nicht umbringt, macht mich stärker.”

Translation:
“From the War School of Life — What does not kill me makes me stronger.”

I am very proud of the progress we have made in the last year. However, those who know me know that I’ll never let us sit still and rest on our laurels. Our industry faces threats from banks, merchants, and policymakers intent on undermining or weakening our industry. Resting on our accomplishments is not an option, we have an industry to protect!

The Gathering Storm
The credit union industry is headed for a turbulent year. If this is news to you, I strongly encourage your credit union to join our next Military Advocacy Committee (MAC) meeting on January 2, 2025. While we weathered threats before, it has been nearly three decades since the industry has faced the type of political headwinds ahead of us in 2025. Fueling this intensity are four converging trends:

1. Increasing negative press
   
2. Lagging in technology, and risking irrelevance
   
3. A shifting political landscape
   
4. Complacency, assuming past strategies will suffice indefinitely (or at least until the current industry leadership retires)

In a recent CUToday op-ed, I explained the implications of these trends, and more importantly, the critical need to support our Defending Credit Unions PAC and Defending Credit Unions National Advocacy Fund. Last year’s industry changing lesson taught us that 1) we cannot rely on others to lead the charge and 2) a plan is only as good as the resources that support its execution. Equally vital to success in advocacy is having a sense of urgency.

Moving Forward and Winning This Thing
It would be a mistake to wait until we have all the resources to wage this battle. We certainly did not have all the resources at our disposal for waging last year’s battle. Yet, having the support of DCUC’s Board of Directors along with our member credit unions, we persisted under pressure and won the first couple of rounds.

We are much stronger now and have proven that credibility and integrity still matter in defending our industry, even when the threat comes from within. We didn’t wait for permission from other trade associations or leagues—we rolled out on principle and purpose and adapted along the way.

General Colin Powell (USA, Ret.) followed a rule of thumb (the 40-70 rule) that guided my approach to leadership. GEN Powell stated how tough decisions require no less than forty percent and no ​more than seventy percent of the information you need to make the decision.

If you decide with less than forty percent of the information required, you are not appropriately aiming your efforts
and will misfire on execution. More importantly, if you wait to get more than seventy percent of the information, the opportunity has already passed and someone else has gained the advantage.

A Sense of Urgency
This rule of thumb and sense of urgency also guide our advocacy for our priorities and safeguarding our industry’s future. However, it will still require resources to win decisively. While the DCUC Board has granted us the approval to move out and allocate funds from our balance sheet, resources are not infinite. This is why we are asking for our members to support our Defending Credit Unions National Advocacy Fund. Strategic partners can also contribute, as your future is also dependent on a vibrant industry.

If you have already paid your 2025 dues, we thank you for your commitment! For those still contemplating their advocacy choices, please consider the unparalleled value and effectiveness of DCUC as your advocate. We take great pride in delivering results, ensuring the highest return on your investment, and defending credit unions on Capitol Hill and within the Executive Branch. If there is a choice between several organizations, all I can say is: 1) we get results; 2) there is no better value on a dollar-for-dollar basis and 3) a portion of the money you save can be used to support our National Advocacy Fund, an investment in our collective future.

Your support is essential. Together, we can navigate these challenges and emerge stronger than ever. Thank you for standing with us. Let’s go win this thing!