After a peak in 2012 at 44% of nonmembers being familiar with credit unions' fee and rate benefits – following Bank Transfer Day – this figure has dropped to 31% among the general population of nonmembers and 25% among 18-24 year old nonmembers. Click on the graph at left to expand.

Yet there are so many benefits of becoming a credit union member. Seventy-two percent of the largest credit unions in the U.S. offer standalone free checking accounts, according to a new Bankrate.com study, while only 38% of the largest banks and thrifts make that commitment to their customers. Five years ago, Bankrate.com reported, 78% of credit unions and 65% of banks offered standalone free checking accounts. Credit unions stand steadfastly by consumers, while the banks are abandoning them. Additionally, 26% of credit unions offer free checking once a member meets certain requirements, such as accepting electronic statements, for a total of 98%.

I'll wait to see what hay credit unions make of this, but I won't be holding my breath. Credit unions' awareness issue is their own, and there's nowhere else to point fingers. If there is any area of the business in which credit unions should cooperate, this is it. Awareness is not only beneficial for reaching consumers, but also potential employees and public officials in your advocacy efforts.

Advocacy

As many of you head into D.C. next week for CUNA's Governmental Affairs Conference, issues raised with lawmakers will likely include cybersecurity, supplemental capital, risk-based capital, field of membership restrictions and business lending. Greater awareness among members and consumers of credit unions' benefit can help turn them into greater allies in getting the tools you need, particularly data security. Few issues achieve the nexus between consumer and credit union concerns than maintaining the security of personal and financial information. Really rally the troops, not just each other. I get shouted down when I say credit unions are no longer a movement. Prove me wrong.

Risk-based capital will be raised with NCUA board members as well, but another one to advocate for is increasing the definition of a small credit unions. The current proposal is to increase the asset threshold to $100 million. Board Member Mark McWatters has suggested that $250 million would be more appropriate, and among the entire financial services community, it is.

I suggest that it would be more sensible to have a formula that sets the amount as of Dec. 31 each year, such as the average assets size of credit unions, which according to CUNA's U.S. Credit Union Profile for Q3 was $173.2 million. That figure represents a 40% increase over the last five years, making setting any number not tied to a formula outdated after the first year and resulting in disagreements among the board members on where it should be.

While debate among the board members can be healthy, recent NCUA board spats certainly are not. Issuing press releases arguing over who released the risk-based capital confidential legal opinion first distracts from the real issue. It does not advance the issue, and it's a distraction from real progress.

NCUA Vice Chairman Rick Metsger has publicly stayed out of that debate but constructively put himself into one of more substance. The Global Women's Leadership Network, of which I am a co-chair of the D.C. Sister Society, excitedly circulated the January edition of The NCUA Board Report, which featured Metsger's advocacy of closing the gender gap among the largest credit unions. We're very excited to see him speak on the matter at the GWLN breakfast during the GAC, and to have such a high level industry professional bringing light to the issue, which is not to hire either gender over the other but to work better together.

Assistance

Finally, credit unions must provide each other assistance. Help out smaller credit unions that are trying to struggling with resources. Provide assistance when you can and without strings. It's tougher now with interest margins so thin, but sharing policies or how-tos and even old equipment that still functions can make a world of difference for a smaller credit union that's doing all the right things but lacks resources. Small credit unions' assistance on the Hill, as well as with those members large credit unions are unable or don't want to serve, is invaluable. And together you can generate awareness, advocacy and assistance.