BarCampBankSeattle Rocks!

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.

  1. 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.
  2. 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.
  3. 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!

UPDATE- How could I forget William and Gene?!?!?

4 thoughts on “BarCampBankSeattle Rocks!”

  1. Hi Robbie,

    Concerning point 2 and 3, maybe this could be an opportunity to start a new workgroup within BarCampBank that would aim at helping create a peer-to-peer platform to share knowledge and best practises between CU’s and organize startup deposits across CU’s.

    Enjoy your second day at BarCampBankSeattle. I look forward to see the next collection of ideas that will come up.



  2. I came away from the BarCamp “un-conference” more eager to actually participate in the credit union movement (as distinguished from just writing about credit union issues). CUs can and should become more relevant to the genuine needs of their member-owners, not just “low-cal” versions of commercial megabanks.

    It’s not easy to step out of the safe “comfort zone” of legalistic caution. Thanks to all who made BarCampBankSeattle a high-impact experience.

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