Be a Jet Ski - Article by Kelley Parks

This is an article I was quoted in from a conversation we had on CU Watercooler about the advantages of being a small credit union.  I like using the jet ski vs. Titanic analogy.  First off, jet skis are FUN and produce a great mental image of a fast, exciting ride (which the CU industry certainly is at this point in history) they are close to the water (just like a small CU is close to our members) and they can be quickly maneuvered around obstacles. The "big bank" industry certainly is akin to a comparison with the Titanic. (especially the historic "too big to sink" theory)...hard to steer and to stop once it picks up steam and able (and willing) to plow through and over anything in its way. 

Chris Blough, CEO of Wayne County Community FCU, had a brilliant quote on Liquid Lunch, 

 “Small Credit Unions need to be like jet skis. We’re not the Titanic. A jet ski would see the iceberg.”

I love the spirit of innovation in that statement. Small is nimble, and with the right thinking and some iron will, can speed right past all the other boats in the ocean.
Are you a Titanic or a Jet Ski? Is the spirit of innovation alive in your credit union?
Here’s your test:
Are you a Titanic?
You are trying to serve first class and third class all on the same boat. You believe you should be all things to all people. After all, with 17 CD options and 6 Checking Accounts, you’re bound to connect with someone.
You don’t take action because you think you are too big to fail. You have meetings to have meetings. Sub-committee has become code for “vacation in my head”.
You fail to plan for enough lifeboats. You don’t know how to react in an emergency. I mean “growing income” isn’t on the marketing calendar this month?
Or are you a Jet Ski?
You’re not afraid to get wet. You know that perfection is a mirage and experiments can be messy, but you’ll jump in and try because that’s the only way to discover your true potential.
You easily maneuver around obstacles. You’re a creative problem solver. Behind every challenge you see opportunity. While others wait for the water to stop rocking, you speed past them. Decreased budget? More regs? Bring em’ on. Big waves just make you jump higher.
You get right back on as soon as you get knocked off. You realize that it takes hard work and action to get results. You realize that mistakes help you learn and grow.
But most importantly, you aren’t afraid to make waves.