Earlier this month we saw former Arkansas Governor Mike Huckabee (R) come out of nowhere to handily win the Iowa Republican caucus, while freshman Senator Barack Obama (D-Ill.) and former Senator John Edwards (D-N.C.) both defeated the Clinton machine that previously seemed unstoppable. Then, five days later, Senator John McCain (R-Ariz.) handed former Massachusetts Governor Mitt Romney (R)–in his own backyard of New Hampshire–a second defeat in the Republican primary where Romney was expected to make a strong showing.
With so many history-making possibilities, the American electorate seems more energized than it has in a long time. The possibility of the nation's first female or minority president brought record numbers out in Iowa's Democratic Caucus and unusually high voter turn out in New Hampshire.
My natural draw to politics after having covered the Washington beat for Credit Union Times over the last seven-plus years not withstanding, the United States' first presidential election in decades without a seated incumbent has captured America's attention. I believe credit unions can draw from the experiences of the earliest primaries.
First, in Iowa, absurdly out-spent and lacking the name recognition of Romney, Rudy Giuliani, or John McCain, Huckabee came out with a decisive victory that is sure to energize his base and expand his coffers. Credit unions should be bolstered by the notion that the underdog with less money and name recognition could rise up to national attention.
Credit unions can achieve this. What did Huckabee do that was so special? He related with the people; he knew his audience and said 'I'm one of you.' He knocked on doors. He was genuine, which also made it easy for him to stay on message. Nothing any good PR person can't tell you.
Credit unions should have no trouble whatsoever knowing their members if they really are listening to them and serving them. Knock on members' doors, so to speak, and find out what they are thinking, assess it, and decide whether it is appropriate for the credit union to act upon.
Likewise credit unions entrenched in the 'people helping people' philosophy should have no problem being genuine in their service to members. It also helps in Washington or home in your districts and with local policymakers to be genuine in the points you make. And, when credit unions truly serve their membership, without even trying, they are establishing a grassroots network that can come in handy in situations like H.R. 1151. Could be the same for the Credit Union Regulatory Improvements Act (H.R. 1537) one day too.
Credit unions don't have the money the banks do to throw around Washington, though CULAC, CUNA's political arm, has grown to one of the top 10 trade association political action committees in recent years (See our story on page 30) and NAFCU/PAC, while much smaller, has grown exponentially. What credit unions do have is numbers–approximately 90 million members nationwide. One would think that would cause a stir, but, generally speaking, credit unions are a 'best kept secret' as unnoticed nationally as the Wyoming primaries that occurred Jan. 5. Find a way to take advantage of this grassroots goldmine and not just in emergencies.
Admittedly, it takes more than good member service to get the credit union brand out there. More is needed. A cooperative, national branding campaign? Maybe. CUNA's Little Guy, while intended to 'change the conversation' on Capitol Hill, has spun into the latest state league PR fad (See our story on page 1), and not a bad one at that. I had reservations when I was first introduced to LG, which CUNA gave Credit Union Times the exclusive on a year ago. Boy was I wrong!
A common theme for the Democratic caucus and primary was the need for change that has clearly resonated as primary voters turned out in relative droves. Credit unions must ponder how they can evolve while maintaining the credit union philosophy. Texans Credit Union is offering personalized gift cards online (See our story on page 1). How much more credit union can you get than providing a useful member service and personalizing it? At the same time, Texans is taking advantage of the technology of the times.
Timing is very important in decisions of all types. The build up to actor and former Senator Fred Thompson's (R-Tenn.) entrance into the Republican primaries was frenzied but died down as the time dragged on before he officially announced. Now, he seems to be just hanging on after only a handful of primaries.
On the other hand, persistence has paid off for Senator Obama who was initially thought too inexperienced to be a serious contender. Now, he has taken the Iowa Democratic Caucus and a close second in New Hampshire. Also, Senator McCain snatched the Republican New Hampshire victory after his campaign struggled last summer. Credit unions must exhibit this same dedication to their cause in Washington, in the local political arena, and with their members.
While politics has always been an interest of mine from my earliest political memory of Ronald Reagan's first presidential victory, this time around–hopefully being a bit more knowledgeable–I find Americans' interest in the 2008 presidential elections the interesting part. How can credit unions generate similar public enthusiasm for themselves? Don't just respond to the times, but be the trendsetters. Be genuine with a common message taking advantage of your greatest assets–your members. Be politically active. Make history.
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