The political clown-car rolls into the big top and unloads for our mockery and entertainment.
I watch “The Donald” and Jeb stand, toe-to-toe, in the center ring slamming each other on the head with ridiculously oversized mallets.
By the time we’re left with only one nominee, each of the twelve-dozen candidates will have exhumed each other’s skeletons, leaked rumors and slung mud like Tom Brady slings deflated footballs.
Yah, the whole process is ludicrous … but are community banks and credit unions much different?
The political clown-car rolls into the big top and unloads for our mockery and entertainment.
I watch “The Donald” and Jeb stand, toe-to-toe, in the center ring slamming each other on the head with ridiculously oversized mallets.
By the time we’re left with only one nominee, each of the twelve-dozen candidates will have exhumed each other’s skeletons, leaked rumors and slung mud like Tom Brady slings deflated footballs.
Yah, the whole process is ludicrous … but are community banks and credit unions much different?
~ The top 6 banks in America (Bank of America, Wells Fargo. Chase, Citi, US Bank and PNC) control more than 40% of America’s deposits.
~ If you doubled Navy Federal Credit Union’s deposits, they still wouldn’t crack the Top 15 Bank list.
~ Even market-dominating names like Fifth Third and SunTrust are each only in the 1% range for total US market share.
When I was the Marketing VP of my ol’ credit union, we had a policy – and the first political party to figure it out will enjoy a Ming dynasty-style rein.
If, for any reason, we could not meet a member’s needs, we would refer them to another local credit union. You see, in the spirit of cooperation, if they didn’t bank with us, we wanted them to bank with another credit union. We didn’t speak ill of other community institutions, question their motives or give out their cell phone numbers on national TV. We focused on the BIG piece of the pie from the large banks that were infuriating customers as a rule of policy.
We need to stop scrounging for tablescraps like a famished Jack Russell. We need to stop beating each other up and leave the clowning to the Washington red-noses.
24 community banks and 17 credit unions have failed since the beginning of 2014 while 6 institutions sit on more than 40% market share. Lets focus the fight.
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