True Sky FCU is fast becoming a citizen of the world

For True Sky Federal Credit Union of Oklahoma City, “people helping people” has a pretty broad meaning these days.

“We do a lot of things locally, and we started doing a number of things nationally, and we thought this was a great opportunity to do things internationally,” said True Sky CEO Sean Cahill of the chance to engage with the Caribbean Confederation of Credit Unions and the Barbados Co-Operative & Credit Union League Ltd.

In June 2021, Mike Reuter, executive director of the World Foundation of Credit Unions (the charitable and engagement arm of the World Council of Credit Unions) made the introductions with Zandre Bowen, general manager of the Barbados CU organization, and Denise Garfield of the Caribbean Confederation.

“We wanted to be a resource,” Cahill said. “Through the World Council we became part of the global bridges program.”

Right off the bat, he discovered “they were looking at all the things True Sky has done and done well.” It’s an impressive and progressive list:

• Developing their member experience program and strategy
• Building a digital transformation strategy
• Identifying fintech opportunities
• Developing stronger anti-money laundering and Bank Secrecy Act practices
• Creating a foundation
  

The Barbados group “wants to be a more progressive credit union system,” Cahill said. “They want to digitize their operation, from storing documents to finding new ways to lend digitally. We’re looking to both help them and learn from them.”

He said he has been impressed with the devotion to the credit union movement that he has seen in the Caribbean.

“They perform the purest part of what credit unions are all about: people helping people,” Cahill said. “I see their incredible passion for their members. I see how they have the same challenges as we do with bank competition and regulatory concerns and how they think through these challenges. We’re learning things every day.”

Cahill has been to Barbados twice and says the Caribbean team is coming to visit True Sky in October around International Credit Union Day, which this year is Oct. 20. Cahill’s team plans to go down there in March 2023.

He views the international relationships the credit union is forming in two ways. The new relationships present an opportunity to help credit unions in the Caribbean catch up to their counterparts in the United States. But the relationships also present developmental opportunities for the team at True Sky.

“Alex Michaud, our VP of IT and a recent Credit Union Development Educator, needed to take on a project for the CUDE program,” Cahill said. “He decided to help credit unions in underdeveloped parts of the world improve their technology.”

“Our next focus area will be in Ecuador where they are dealing with a migrant surge from Venezuela,” Cahill said. “This will happen within the next 12 to 18 months. We will start virtually. Ultimately, we will invite them to Oklahoma City.”

Cahill is enjoying True Sky’s international relationships, as is his team. He is on the Cornerstone International Relationship Committee and on the CUNA World Affairs Board.  He and True Sky Board Chair Judy Richey went to Glasgow, Scotland, in mid-July for the World Credit Union Conference. 

He is grateful for the support of True Sky’s board of directors and for the efforts of Cornerstone League to advance the credit union mission around the world.

“Our board is all about community service,” Cahill said. “They are right there next to us serving at our events. And I appreciate their support of our efforts to help advance the international credit union movement.”