Far too many credit unions make the mistake of acquiring another organization, only to attempt immediately to assimilate the new credit union into the original credit union’s existing processes, programs and culture. That is why acquisition integration is often extremely painful and unsuccessful. In Credit Union Management’s online-only “HR Answers” column, you will find an eight-step process to ensure your acquisition and the integration are a success.

Also read the online-only “CFO Focus” column about ROE and another article about employee communication, all in this issue of CUES FYI.

CFO Focus: Return on Equity
The misunderstood ratio

‘Snowmageddon’ Draws Importance to Employee Communication at Northwest FCU
Blizzard aftermath provides praise, lessons for credit union’s disaster communications plan

HR Answers: Merging Employees
Follow this eight-step process to ensure your acquisition and the integration are a success

Become an Agent of Change
Designed specifically for credit union board members, DLI^™: Governance, June 6-9, at the Joseph L. Rotman School of Management, University of Toronto, focuses on issues at the organizational level. Strengthen your contributions in the boardroom as you learn to effectively balance healthy debate and diversity with consensus building. Reserve your space today!

Member Benefit Section

Recent Developments in CU Mergers: Written by Luse Gorman Pomerenk & Schick, Washington, D.C., this informative Director Briefing Series publication explains the fundamentals of credit union mergers. The report lists a few common reasons credit unions decide to merge:

• economy
• meeting members’ technology expectations,
• regulatory burden, and
• CEOs reaching retirement at CUs without a succession plan.

Members can download the entire report and non-members can access an executive summary here.

E-mail cues@cues.org for password help.

For a more in-depth view of mergers, please see CUES Complete Guide to Mergers, Second Edition.

Review all your member benefits here.

Blog: No Need to go Undercover: In the CBS show “Undercover Boss” CEOs of large corporations like Waste Management, Hooters and Churchill Downs, who go undercover to work alongside some of their front-line employees. Their goal is to get new perspectives on their business and see what staff face on a daily basis. But credit union CEOs, especially at smaller institutions, often work the front lines. Read about two examples, and share your own, in this CUES Skybox blog post by CUES VP/Publications Mary Arnold.

Credit Union Management Online Table of Contents: The April 2010 issue of Credit Union Management focuses on efficiency. Check out how credit unions are working efficiently in all areas of the CU. CUES members, CUES Director members, CUES Supplier members and subscribers can read all the articles and features from the April issue of Credit Union Management magazine at cumanagement.org, either by logging in and browsing through the articles on the left side of the page or by logging in and clicking the digital magazine icon at the top of the page. Non-members can also read several articles from April on the left side of the page. (E-mail cues@cues.org for password assistance.)

Are You Ready for July 1?
Will your credit union be ready to comply with the new amendments to Regulation E? CUES Overdraft Compliance, offered in collaboration with Strunk & Associates, L.P., will help you minimize the impact of these changes. Discover more today!

Cool Web Site: Network Hippo consolidates all the people in your e-mail and social networks making it easy to manage your relationships, stay connected to key people, and tap into your extended network to achieve social and business goals.

Member News:

Recognized: $623 million/76,000-member Charter Oak Federal Credit Union, Groton, Conn., has been named one of Connecticut's Top Lenders in 2009 by The Commercial Record, a publication popular in the business community for providing crucial real estate, banking, lending, construction and development news.

Community Involvement: $7 billion/250,000-member Alliant Credit Union, Chicago, raised more than $39,000 in contributions through its Haiti Relief Matching Donation Program, through which Alliant Credit Union Foundation, a not-for-profit corporation established by the credit union, donated $10 for every one dollar donated by employees.

$586 million/66,000-member Bay Federal Credit Union, Capitola, Calif., received a Silver Award from the United Way of Santa Cruz County during the United Way’s recent award ceremony honoring the exemplary fundraising efforts of local businesses. Employees of the credit union raised $8,048 to support 30 health and human service programs throughout Santa Cruz County.

CUES Supplier Member News:
CUES Supplier member Fiserv, Inc., Brookfield, Wis., and Dominion, Richmond, Va., raised $10,000 for Dominion’s EnergyShare program, which helps pay heating costs for customers facing financial hardships.

Read all the CUES member news here.

CUES Calendar

Webinar: Alternative Capital: Myths and Realities
April 14
10-11 a.m. Central time

CEO Institute II
Organizational Effectiveness
April 25-30
Cornell University
Johnson Graduate School of Management

Webinar: Why Hispanic Members Are Important to Your Strategic Future
April 29
10-11 a.m. Central

CEO Institute III
Strategic Leadership Development
May 2-7
University of Virginia
Darden School of Business

Webinar: Alternative Capital: Recapitalizing Credit Unions
May 12
10-11 a.m. Central time

CUES School of Business Lending
School I: Business Lending Fundamentals
May 17-21
Hyatt Regency Cambridge
Boston

School of Risk Management
May 17-18
Hyatt Regency Cambridge, Overlooking Boston
Boston
 
CUES School of Hot Topics: Addressing the Challenges of Reg E
May 19-20
Hyatt Regency Cambridge
Boston
 
Check out all the upcoming CUES events.

Connect With the CUES Community!
Join us on LinkedIn.
Follow us on Facebook and Twitter.

Theresa Witham
CUES Editor
direct: 410.665.1370
theresa@cues.org
main office: 800.252.2664 x 5307
fax: 608.441.3407
www.cues.org
P.O. Box 14167
Madison, WI 53708-0167

Subscribe to this e-newsletter by sending a message with “subscribe” in the subject line and your name and e-mail in the body to cuesfyi@cues.org.