Decision 6 of 6 · The member vote
How do we prepare for the member vote?
Members approve the merger. How and when they hear about it shapes how they vote, and how they feel about the combined credit union afterwards.
00%
[One sourced claim about member votes, for example approval rates or turnout.]
Source: [to be confirmed], date.
The guide
[Guide title on the member vote]
Glenn Christensen · CEO Advisory Group[What the guide helps a board prepare]
[Two sentences on what the guide covers and how a board should use it.]
[Page count] · Free to read
[Placeholder: replace the four paths with vote-specific content, or remove this section]
What each path protects, and what it asks.
No path is right for every credit union. A board that has looked at all four can defend whichever it chooses.
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Remain independent
- Protects
- The charter, the name, local governance and the current leadership structure.
- Asks
- Enough earnings and growth to fund technology, talent and succession without help.
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Merger of equals
- Protects
- A shared say in leadership, board seats and the combined name.
- Asks
- Two cultures and two boards willing to give up some control to gain scale.
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Join a larger credit union
- Protects
- Members' services, staff careers and the local presence, with more resources behind them.
- Asks
- Choosing the partner carefully, and negotiating what continues locally.
-
Grow by acquisition
- Protects
- Independence, by adding scale through another credit union or a community bank.
- Asks
- Capital, integration capacity and a partner or seller willing to engage.
Further reading
The analysis behind the question
- CEO retirement Aligning Executive Compensation With Member Interests In A Merger October 2019
- Approached Overcoming The Fear Of Merger July 2018
- Insight Not A Wall Street Merger - A Uniquely Credit Union Merger October 2017
- Insight 3 HR Issues to Address in a Merger August 2017
- Insight Three Things To Expect During A Credit Union Merger July 2017
Confidential
Weigh it privately before the board discusses it formally.
A first conversation commits your credit union to nothing, including to any path.