As competition in the global economy has intensified in the last five years, the financial services sector in North America has seen the decline of credit unions as they struggled to compete with the increased domination of large banks. For example, five years ago there were over 100 credit unions in British Columbia, Canada and now there are less than 50 as credit unions have folded or merged to survive. In the U.S. the same diminishing of credit union numbers has been happening for the past decade. Numbers are down from over 8,000 credit unions, to just over 5,000 today.
One of the key principles driving Lydia Johnson’s work is credit union sustainability. “I have been in the banking industry for over 30 years and I know firsthand the positive impact credit unions have on peoples’ lives. Credit unions place a high priority on the human factor: members, employees, and service to one’s community, now a passionate calling forth from President Obama, and this has often been in short supply.”
Working for over 25 years for Vancity Credit Union – voted the best employer in Canada − Lydia knows how to make profitable banking and credit union principles work together in a winning formula. Lydia believes the path to credit union sustainability is paved with innovation. Working with senior leaders in your credit union she will enable your team to crystallize your key differentiators, then build and execute a strategic plan with innovation embedded at every level. Drawing on factors that present unique opportunities for credit unions and her knowledge from within the credit union system, Lydia will challenge your senior leaders to consider innovation in structure, marketing, products, service delivery, employee engagement, and community service. Lydia will engage your team in a provocative and robust dialogue, challenging them to face the realities of your longevity and craft a powerful, bold response to ensure long-term sustainability.