Small organizations have advantages over large institutions including being more innovative, adapting new technologies faster, providing excellent personalized service, and having lower fixed operating costs. This allows them to focus on specific customer types and pursue business opportunities overlooked by larger organizations. The document recommends that credit unions shed unprofitable products, increase profitable lending through financial education, and implement friendly technology. It provides examples of various credit unions and their characteristics.

1. ©2005 EverythingCU.com and Denise
THE ADVANTAGES
OF BEING SMALL
Morriss Partee

2. CHARACTERISTICS OF
LARGE INSTITUTIONS

3. · Slow to adapt
· Uses old technologies
· Impersonal/poor service
· Out of touch with customers
· High operating costs
· Unable to pursue smaller $
· Customers of all varieties

4. C H A R A C T E R I S T I C S O F
S M A L L O R G A N I Z A T I O N S

5. · Innovative, fast
· Adapts new technologies
· Understands customers intimately
· Excellent, personal service
· Low fixed operating costs
· Able to get business others overlook
· Focused customer type

6. 3 ACTION ITEMS
· SHED UNPROFITABLE PRODUCTS TAKING
UP TIME AND RESOURCES
· INCREASE HIGHLY PROFITABLE C, D & E
LENDING THROUGH EDUCATION
· IMPLEMENT FRIENDLY TECHNOLOGY

7. ELIMINATE WHAT DOESN’T
WORK OR ISN’T VALUABLE

9. WHITEFISH CU ASSOCIATION
MONTANA

10. TOTAL LOANS:
$603,197,220
AVERAGE LOAN BALANCE:
$88,529

11. NO. OF CHECKING ACCOUNTS:
ZERO*
*WHITEFISH FINALLY BROKE DOWN AND STARTED OFFERING A DEBIT CARD-ONLY CHECKING ACCOUNTS AS OF
OCTOBER 2014.

12. LIST 3 THINGS YOUR CU IS
BETTER OFF NOT DOING OR
OFFERING
(hint: your members won’t care or notice if
you stop offering it)

13. INCREASE C, D, E LENDING
(MOST PROFITABLE) VIA
FINANCIAL EDUCATION AND
FOLLOW UP

14. HELEN GODFREY
SMITH
SHREVEPORT FCU
$102M ASSETS
21,000 MEMBERS

15. IMPLEMENT FRIENDLY
TECHNOLOGY

16. Mt. Lehman Credit Union
1,668 Members
$44m assets

17. 1 branch
12 employees

18. Gene
Blishen
Manager,
Mt. Lehman
Credit Union
British Columbia

20. 2 Coders on Staff

22. 3 ACTION ITEMS
· SHED UNPROFITABLE PRODUCTS TAKING
UP TIME AND RESOURCES
· INCREASE HIGHLY PROFITABLE C, D & E
LENDING THROUGH EDUCATION
· IMPLEMENT FRIENDLY TECHNOLOGY

23. WHAT
MAKES
YOUR CU
UNIQUE?

24. Morriss Partee
Chief Experience Officer
EverythingCU.com
morriss@everythingcu.com
413·535·0621
http://blog.everythingcu.com
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