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CU Snapshot

 Feb '18Jan '18
# of CUs5,7575,758
Total Assets
($ billions)
Total Savings
($ billions)
Net Cap.
Loans to Savings82.6%84.1%
Loan Delinq.0.8%0.9%

         Credit Union Indicators

11 Keys to Collaborative Success

Strive for exceptional business practice collaboration.

Credit unions around the world use collaboration to find common ground, and share resources to explore new or more cost-efficient ways to offer members exceptional service and experience.

At the America's CU/World CU Conference, Mike Leonard, president/CEO of Atlantic Central and League Savings and Mortgage Co.—the trade association and financial intermediary for 53 credit unions in the four provinces in Atlantic Canada—shared 11 keys to collaborative success in shared services:

1. Develop a shared vision;

2. Remember collaboration isn't consensus;

3. Have a decision-making model;

4. Promote quantifiable return on investment;

5. Reduce self-interest by always thinking "members first";

6. Build credibility with outside expertise;

7. Ensure effective two-way communication;

8. Change management strategies to help staff;

9. Connect actions to strategies to show progress;

10. Celebrate success and don't fear the failures; and

11. Understand what you can control—and what you can't, and consult with a third-party on the latter.

(Via news.cuna.org)