If a CEO is waiting until his or her retirement to recommend merging their league with another league, then that CEO is self-serving and not putting their member credit unions first. (CU Times Jan. 14 article "Leagues Open to Mergers")
Therein is the problem with many credit union mergers and I suspect, league mergers.
Too many struggling credit unions wait until they have exhausted their capital and have nothing to offer a continuing credit union and therefore, have no bargaining power.
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We've known for decades that the industry would consolidate. Yet, here we are in 2015 with our heads in the sand still hoping things will get better.
We, executives, managers, and volunteers, are so consumed with guilt over the prospect of people losing their jobs because of a merger that we fail to act in the best interest of our members and instead, act in the best interest of the league and credit union employees – CEOs included.
No one ever wants to be the last one to turn out the lights, but at some point, someone has to make a business decision for the members, even if that means losing your job or else you are unfit for the job as the CEO of a credit union or league.
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