DUBLIN, Ohio (2/15/08)--Mission, not member service, is where the difference lies between banks and credit unions, World Council of Credit Unions (WOCCU) CEO Pete Crear told Faith Community United CU during its annual shareholders meeting and banquet Feb. 2. The strategic plans of WOCCU, Faith Community United, and all credit unions are the same, Crear said (eLumination Newsletter
Feb. 13). “As our institutions have grown and become more sophisticated, the mission has never left us, but it sometimes becomes obscured by institutions striving to be more competitive, to offer the hottest transaction technology, the sharpest marketing efforts, and the most attractive savings and lending rates in town,” he said. Crear said he was amazed by the commitment of credit unions throughout the world to service members and the challenges they face. “As credit union leaders, we have an extra burden to shoulder,” he added. Credit unions must remain committed to providing high-quality financial services, and “support the credit union mission as a mission,” he said. Crear said all cooperatives should answer “yes” to the following questions:
* Do you reach out to serve various people and support that commitment through action? * Are you the source of financial knowledge and leadership in the communities you serve, (and do you) provide financial education (and do you) often temper expectations with compassion for personal circumstances? and; * When you introduce new services, do you measure their impact and define their success by how well they serve your members’ most critical needs? Faith Community United CU of Cleveland has $9.9 million in assets.