What do you say when you hear from another credit union interested in talking about a merger?
Hopefully, you don’t say “Yeah, we’ll talk so long as our chair and our CEO are the surviving leaders after the merger.”
To Deedee Myers, Ph.D., MSC, PCC, the fate of the chair and CEO is the wrong thing to think about first when considering joining up with another credit union.
“We shouldn't be talking about who the survivor is, you know, the CEO or the board chair,” says Myers, CEO of CUESolutions provider DDJ Myers, Phoenix. “It should really be about the synergies between the two organizations to unlock parallel value for the membership. It really should be what is the membership going to see in terms of additional value, what's going to go on in the community, not just about the chair and the CEO. It has to be about how we're going to add more value.”
Myers and her business partner, Peter Myers, share lots of ideas about mergers in this episode of the CUES Podcast, including:
The two also discuss how they stay in forward-thinking mode, focused on future possibilities, both within DDJ Myers and with their credit union clients.
“Just because we can't touch that future in this moment, because I don't understand it, doesn't mean that we couldn't, we shouldn't simmer in it, and really see what could come out of it,” Peter Myers says in the show.
Be sure to tune in!
Links for this show:
CUESolutions provider DDJ Myers
Whitepaper series: Credit Union Leaders Plan Post-Pandemic Merger & Acquisition Strategies
CUES content from DDJ Myers: