EUGENE, Ore.–Any credit union looking to grow and sustain that growth must avoid the “commodity trap,” according to one person, adding that credit unions have been “gifted” some special attributes they must leverage.
Matt Purvis, the president of Purvis Management and the former chief experience officer with Northwest Community Credit Union, has developed Animation Systems, which helps develop brands that drive organizational behavior and performance. Below, he offers his thoughts as part of the CU Daily’s Profitability Imperative series.
The CU Daily: First, some background. Tell us more about the work you are doing with credit unions?
Purvis: Our work with credit unions is grounded in “orthogonal thinking.” How do we reject the “commodity trap” of incremental efficiency gains and choose instead to compete on terms we define. The paradox is the credit unions’ not-for-profit structure is a unique and powerful inheritance. Rather than bring it to life, most credit unions play by rules that undermine those distinctions and, in effect, strength their for-profit rivals.
The CU Daily: Where do you find credit unions most want to improve?
Purvis: New technology, a new core operating system, new processes. I’m not saying that increments don’t matter or that “maintaining relevance” doesn’t require keeping up with the efficiency frontier. What I am saying is that credit unions have been gifted truly differentiating brand positions and rather than leverage that gift, we too often undermine it.
The CU Daily: Where do you find they have the most opportunity to improve but are often unaware of it?
Purvis: Teams typically perform far below their potential. The challenge of creating an environment where everyone can bring their best and consciously fight for the highest possible good from their peers is even more challenging in financial services. As a highly technical and regulated industry where routine and repeatability are essential, inertia becomes routine, too.
The CU Daily: Can you share some examples of the types of changes credit unions have made that directly translated to the bottom line, regardless of the size of the change made?
Purvis: So many…
- Meetings with clear objectives, firm time limits, and detailed outcomes
- Creating the agreement that the quietest team members have the opportunity to speak first.
- Creating the agreement that we all ask clarifying questions before passing judgement, verbally or nonverbally!
That we use the OKR system to establish crystal clear, time-bound Objectives and the specific Key Results that will prove our progress against that Objective.
Understanding that your branch is a performance space. If you don’t use it to dramatize your values, making lasting, emotionally relevant memories with your guests, you’ve fallen into the “commodity trap.”
The CU Daily: Is there an expense you have found that at many credit unions can be eliminated but is often overlooked?
Purvis: Meandering, ill-focused meetings with unclear outcomes.
The CU Daily: Similarly, is there an income opportunity to be found at many credit unions that is often overlooked?
Purvis: Failing to clearly distinguish your mission-based institution from its for-profit rivals. Removing “friction” from the member experience is a double-edged sword. Only human effortfulness has the potential to create trust, understanding, and deep relationships.
The CU Daily: How can a credit union best understand whether it’s as efficient as it could be and is best serving members?
Purvis: Member growth. If your credit union is not enjoying double-digit, organic member growth, you are likely competing on someone else’s terms, not your own.
The CU Daily: Finally, away from the spreadsheets and Excel, where are their deficiencies in culture to promote sustainability and growth and how can a credit union build that culture?
Purvis: Build a dedicated people development system. No organization outgrows its people. High levels of self-awareness and mutual self-awareness are required to perform at the highest levels. Google’s Project Aristotle provides the deepest research into high-performing teams and organizations. Their findings are empowering, consistent with the principles of cooperation, and can speed credit unions to reestablish cultures of innovation and performance.
This article appears as part of the CU Daily’s 2026 series, the Profitability Imperative. We encourage your feedback, suggestions and ideas at any time.
