The Retail Banking Group on LinkedIn held an interesting discussion post about consumer reaction to banks. Two truths exist without doubt, more regulation is coming, and secondly, financial model assumptions aren’t effective in this economy. Having worked for both banks and credit unions I’ve learned valuable lessons. The first is banks must rethink fee structures in this economy. I don’t agree with higher fee proponents for small to mid-size commercial borrowers.
credit unions
A message to the messenger
Organizations are comprised of people, processes and technology. Finding the right mix for operational excellence is similar to what any good chef must do to produce an exquisite culinary dish. Managers must understand that communication is more than sharing a thought, idea or opinion. It is the art of interpretation and inspiration. It provides direction for goal attainment or business achievement. It is important enough to demand its place as a core competency necessary for effective organizational management.
Follow the leader
There are plenty of books, experts and opinions on leaders today. I'm not going to attempt to join the fray. I would prefer to challenge your ideas and definitions of what constitutes a good leader. Will you follow along for a minute?
Expect more
Most companies develop tag lines to differentiate themselves from the competition with a catchy phrase or word. Everyone recalls Nike's Just Do It. But I would be willing to bet that most consumers take a cynical view of tag line promises based upon the common service experience that rarely delivers on the promise.
Cha-ching!
I've said all along that debit card cash rebate programs are the way to go. During my tenure as a regional market manager for Teachers Credit Union I was part of the creative team behind its Debit Card Rebate program. Now at seven years old, the program has continued to grow in popularity.