PORTLAND, Ore.–Credit unions leaders gathered here were given a pep talk, a cautionary warning, a reminder of the past and present and more–all in the same remarks.
Speaking to the GoWest Credit Union Association’s MAXX Conference, Troy Stang, the organization’s president and CEO, reminded that the pace of change is no secret to any credit union leader, whether it involves AI or crypto or regulations or generational shifts in the workplace.
What’s required to respond to all that, he said, is “clarity in the moment.”
“Leadership does not shine in the easy times, it shines under pressure and that is each and every one of our moments,” said Stang. “Leadership shows up in the hard choices, the messy middle as they say, and that is our moment, when sometimes the footing underneath you feels kind of shaky or the temptation might be to divide. And we all know there are plenty of forces outside of this family of credit unions hoping that they can divide this family, forces that can benefit from that doubt. forces that can benefit from that distraction. forces that can benefit from a fractured movement. But that’s not what binds us together…and that’s always been our cooperative edge.”
‘Shared Prosperity’
In Oregon, Stang said that cooperative edge is manifested in the “shared prosperity” campaign credit unions in the state have engaged in, as well as in shared story telling and advocacy.
He further praised Oregon’s CUs for their work in addressing affordable housing and access to financial services.
Ultimately, said Stang, credit unions are a movement rooted in purpose that at its core is about “living the values of our non for profit cooperative model.”
He said credit unions need to ensure members have a voice in decision making and that they are demonstrating that the democratic governance model is not just a part of the structure but part of the daily practices in everything a credit union does.
The CU DNA
“Our DNA calls us to rise together to lift each other up, especially when there are forces outside that are trying to divide us,” said Stang. “Make no mistake: there are banker-driven narratives hoping that we turn on each other. But I argue that’s not who you are and that’s not what we’re built to do….Proving our value requires all of us to be better member champions with aligned boards and teams actively involved with members and helping them refine and deliver that message. Any splintering within our family weakens that cause, while unity will make us unstoppable.”
The ability to speak with one voice, Stang said is the reason nearly every member of Congress in the six states the association represents—Washington, Oregon, Colorado, Arizona, Idaho and Wyoming– reaffirmed their support for the CU tax exemption.
“There were attempts by the bankers to tax us in two of our states,” said Stang. “Let’s be clear: the tax fight–and I’ve been around this industry long enough to know—has gone on for decades and will continue to be wrong for decades. It is the singular thing the bankers will use to try to divide us.”
Showing Your Face
He urged credit unions to continue to tell their stories and show their faces in statehouses and in Washington. “We can do more than just influence opinion; we begin to shift their beliefs.”
He further cited numerous examples of how credit unions are not just talking about solutions in communities, but providing them.
“The power of impact that it’s having in the communities fuels your story and that story fuels advocacy,” said Stang. “We need to let the world know about This. This is what happens when we finally stop playing defense and start owning the narrative. This is unity with purpose.”
