CU*Answers, a 100% credit union-owned CUSO, held their annual CEO Strategies conference November 11-15, 2019, in Grand Rapids, Michigan. CEOs from 50 credit unions and CUSOs from across the country gathered for four days of collaboration, learning, and direct peer interactions aimed specifically at credit union CEOs.
The events kicked off on Monday with a half-day session focused on giving updates to projects that were launched at last year’s event, which was a special “Strategic Developers Boot Camp” where CEOs had a chance to participate in creating the solutions that CU*Answers and the cuasterisk.com network take to market. The CUSO reviewed its progress to date on developing new teller platforms as well as innovations in the capabilities of the CU*BASE internet loan origination system. Another half-day session on Thursday wrapped up the week with updates on projects related to online and mobile banking solutions for credit unions.
On Tuesday, CEOs joined Randy Karnes, CU*Answers CEO, to examine what a credit union CEO should know about five key concepts: data; business memberships; ACH and everything “payments;” mobile and desktop internet solutions; and succession planning as both a CUSO, credit union, and network project.
On Wednesday, CEOs spent the day in roundtable discussions around questions designed to encourage lively debate. Said Karnes, “During the CEO Roundtable, CEOs break it down with their peers, and we see where the room goes on credit union industry challenges and opportunities.” Karnes also introduced a new feature added with this year’s roundtable called the cuasterisk.com CEO Live Chat Room. “The idea is to give you a dedicated time when you can network as CEOs, with networking being the whole point,” said Karnes.
Participants talked about tactics CEOs could deploy that would radically increase the compensation of their core team members, as well as tactics that would radically increase returns to members in the coming year. Other questions included, “Of the industry trends currently being debated, which can you count on for your future?”, “Which trend do you think will be a bust for your CU?”, and “Which trend do you see as a group-think loser and you want nothing to do with it?”
On Wednesday evening, CU*Answers kicked off a year-long celebration of its 50th anniversary as a CUSO with an open house held at the Grand Rapids Art Museum in downtown Grand Rapids. The event was attended by CEOs attending the conference as well as representatives from other clients, staff, and partners from across the cuasterisk.com network.
Although CU*Answers holds many different learning and collaboration events all year long, CEO Strategies is unique in that it is designed only for credit union CEOs, a forum that encourages more open and frank interactions with other professionals who share the same day-to-day challenges. “We do offer a full-week CEO School that’s open to CEOs as well as up-and-comers who one day might sit in the CEO’s chair, but this week is truly for CEOs who want to learn from each other in a unique way,” says Karnes about the CEO-only restriction that has been a part of the event since its inception over a decade ago.
About CU*Answers, Inc.
CU*Answers offers expertise in implementing technical solutions to operational needs, and is a leader in helping credit unions form strategic alliances and partnerships. CU*Answers provides a wide variety of services for credit unions including its flagship CU*BASE® processing system (online and in-house) and Internet development services featuring It’s Me 247 online and mobile banking. Additional services include web development, network design and security, and image check processing. Founded in 1970, CU*Answers is a 100% credit union-owned cooperative CUSO providing services to credit unions representing over 2 million members and $21.5 billion in credit union assets. For more information, visit www.cuanswers.com.
