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Profit Taken from Members vs. Value Returned—New Ideas Institute
Friday, October 21, 2016 6:20 AM

Register for New Ideas Institute Nov. 3-4 for CEOs, Board Chairs, and Planning Officers

Impact | Innovate | Inspire

2016 New IdeasBanks and credit unions share a similar business model—how each makes money is identical. However, that's where the similarity stops. A bank board will advocate for the maximization of long-term value for stockholders, which is easily measured. A credit union board will advocate for member value, which is hard to define and subjective. The challenge is striking the appropriate balance between profit extracted from members and value returned to members.

Mark Higgins, Jr. will discuss the balancing act of member value and profit at the upcoming New Ideas Institute for credit union CEOs, board chairs, and planning officers. The event will take place Nov. 3-4 at the DFW Lakes Hilton in Grapevine, Texas.

Higgins says that rather than pitting the board and CEO against each other, a governance scorecard can be used to galvanize and focus everyone on what is best for the long-term interests of the credit union and its members. His session will explore a framework to help the board think strategically and make the right decisions, focusing upon the essence of a successful business model while avoiding information overload and micro-management that creates unnecessary friction in the CEO/Board relationship.

Higgins is a partner in the firm of Mike Higgins & Associates (MHA). His consultants work with clients in the financial services industry. His primary areas of focus are performance management, performance-based compensation, board education, and strategic planning to maximize member value. Higgins also serves as faculty on the Pro-Con Board Governance Institute.

Mike Higgins Jr.Since 1998, Higgins has worked with more than 300 community-sized credit unions and banks, and he has presented his contemporary approach to managing performance to numerous state and national associations. He coauthored the book Performance Compensation for Stakeholders: 14 Prerequisites for Success.

Higgins received his MBA from the University of Kansas and an undergraduate degree in finance from Nebraska Wesleyan University, where he was an Academic All-American and an inductee into the NWU Athletic Hall of Fame.

This will be your last chance to join Cornerstone's retiring CEO Dick Ensweiler at this special annual event, so come on out and help him celebrate the many years of working together and ensuring our members, communities, and the general public understand the credit union difference.

For more information, please visit the website or contact Training and Events at 800-442-5762, ext. 6632, or direct at 469-385-6632, or email tgaines@cornerstoneleague.coop.

2016 Sponsors
Because of the gracious donations from our sponsors, we are able to keep event costs low for attendees. Please help show gratitude to the following event sponsors.

Credit Union ResourcesCUNA Mutual Group