Today was the first long day at BarCampBankSeattle and it was pretty amazing. We’ve got people from all over the blogosphere here sharing and learning. Jesse Robbins, all the Trabian guys, Brad and Mark from the Garland Group, Tim from Currency Marketing, and Jason from Wesabe just to name a few. We’ve kicked around an amazing amount of ideas, but I wanted to get down a few that came in our last group conversation of the day.
- Here’s a simple incentive plan to make the CU goals align with giving the most back to the members: Assuming you have a well run credit union getting 1% ROA, send 50 basis points to the members in an annual dividend, 25 to staff incentives and 25 to reserves.
- Starting a credit union is hard. Why? With 8500 credit unions or so we have plenty of expertise to help out. We need to create an online forum of CU experts to help assist people wanting to start a credit union. If we could even get just 20 executives from CU’s across the nation from different capacities, we’d have a great resource to help others start CU’s and further the movement.
- CU’s can’t get secondary capital to start up, but other CU’s can give them deposits to help them start up. CU’s could contribute to a startup fund that simply deposits dollars into a new CU.
The ideas are rough, but just wanted to get them out there. Looking forward to tomorrow but as it is almost 1 AM, I’d probably better call it a night!