A new section of Southeast Corporate’s website gives members an outlet to speak out about the value their Corporate provides.
On CreditUnions.com this week, Chip Filson urges credit union management to take the lead in educating members about the impact of financial reform. In its efforts to protect consumers, the Dodd-Frank Act highlights the value of member ownership, Filson says. Acting in the best interest of members has always been part of our purpose, legally mandated or not.
But the value of being a part of a member-owned financial system does not begin and end with natural person credit unions. While the country focused on consumer-level legislation, the credit union industry has been working to resolve the lingering issues of investment valuation in the Corporates. In an article earlier this year, Filson detailed how the Corporates were on the mend, citing growth in shares and membership, continued lending, uninterrupted transaction processing, a stabilized financial position, and reduced operating expenses.
Now, Southeast Corporate members are speaking out about the value their Corporate provides. In a new section of its website, called The Value of Ownership, the Corporate is giving a voice to its supporters. What began as a reflection on the Corporate’s value proposition has turned into a comprehensive resource for credit union decision makers.
“The site is meant to serve as an educational resource for credit unions, their Boards, and other volunteers,” said Southeast Corporate in a press release. “It features a library of documents that help provide the ‘big picture’ as to the volume and scope of services Southeast provides credit unions and a cost comparison showing what these services would likely cost direct.”
But the webpage doesn’t just offer Southeast’s point of view. It is also a resource that gives members an outlet to voice their own opinion of the Corporate’s value. Visitors can read comments from industry leaders as well as watch video testimonials (like the one below) that are unscripted and off the cuff.
“We were pleased and a bit humbled by what we heard,” says Sandy Baker, senior vice president of Sales and Marketing at Southeast Corporate.
The page has been active for less than a week, and Baker says Southeast is happy with the feedback from other Corporates and credit unions. It plans to continue growing the section with additional videos and commentary.
“There is a lot that ties back to the Value Proposition Documents online,” Baker says. “Hopefully members can use it [the site] to talk with their Boards and make informed decisions.”
See more at secorp.org/valueofownership.