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Ensuring Success through Cooperation By Carlos R. Calderón CEO OAS Staff Federal Credit Union Washington D.C. ccalderon

Ensuring Success through Cooperation By Carlos R. Calderón CEO OAS Staff Federal Credit Union Washington D.C. ccalderon@oas.org. What is Cooperation?. Is the process of working or acting together. Source: http://www.reference.com/browse/cooperation.

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Ensuring Success through Cooperation By Carlos R. Calderón CEO OAS Staff Federal Credit Union Washington D.C. ccalderon

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  1. Ensuring Success through Cooperation By Carlos R. Calderón CEO OAS Staff Federal Credit Union Washington D.C. ccalderon@oas.org

  2. What is Cooperation? Is the process of working or acting together. Source:http://www.reference.com/browse/cooperation

  3. “As they say on my own Cape Cod, a rising tide lifts all the boats. And a partnership, by definition, serves both partners, without domination or unfair advantage. Together we have been partners in adversity let us also be partners in prosperity”. John Fitzgerald Kennedy

  4. In today’s competitive environment meaningful partnerships & alliances are the foundation for success! Why Cooperate?

  5. Benefits Cost Sharing Economies of scale Levering expertise and resources Mitigating risk Value added products & services

  6. Definitions 1) CUSO- A "for profit” Credit Union Service Organization that directly provides services for credit unions. These organizations can be owned by an individual credit union or by more than one credit union. source:http://www.cuanswers.com/

  7. Created by the OAS FCU, IDB CU, and the DGEFCU in 2006. To serve the underserved communities in Ward 1-Washington D.C. Objective: To be self-sustaining in 3 to 5 years. By April 2010 the Branch reached self- sustainability. Example of a CUSO-ACCESO

  8. ACCESO Statistical Report

  9. ACCESO’s Challenges Achieving scalability Expanding footprint in community developing Measuring impact metrics Future: Addressing challenges to become community development engine.

  10. 2) Partnership- A relationship between individuals or groups that is characterized by mutual cooperation and responsibility. Source:http://dictionary.reference.com/browse/partnership

  11. Ex:COONECTA Ecuadorian Shared Branching The first international successful share branching experience in the world. Over 2 million Ecuadorians live outside de country. 43 Ecuadorian credit unions with 150 points of service can connect with nearly 3,000 con-tact points in the United States. Future- to establish a regional network. First with Bolivia, Peru, and beyond. Source:http://www.woccu.org/

  12. 3) Strategic Alliances- is a formal relationship between two or more parties to pursue a set of agreed upon goals or to meet a critical business need while remaining independent organizations. Source:http://www.reference.com/browse/strategic+alliance

  13. Ex: CO-OP Financial Services • Purchasing power- is the nation’s largest credit union owned EFT network and processor • ATM-CO-OP network has over 28,000 surcharge-free ATMs Source:http://www.co-opfs.org/public/index.cfm

  14. CO-OP Financial Services • Shared Branches- 3500 full-service shared branch locations around the country and now going international. • Innovation - E-commerce solutions such as CO-OP Mobile, Online Banking, My deposit Home, and Fast Branch. • 1 of every 5 CU in the U.S. is a member!

  15. How to develop a successful model of cooperation? Is it an institutional Strategic Objective?

  16. How to develop a successful model of cooperation? • Define objectives • Identify potential partners • Select a partner • Develop measurable guidelines • Measure success • Make necessary adjustments

  17. Ingredients for Success • Make expectations and responsibilities absolutely clear. • Make sure the decisions & interests are mutually beneficial. • Be comfortable with mutual dependency. • Know that times will not always be easy. • Cement commitment. • Practice solid communication. Source: MoreBusiness.com

  18. MeasuringSuccess Effective partnership should lead to measurable results and improvements, in: • Cost savings • Increase in member attraction and retention • Increase in revenues • Growth in members and market share

  19. What’s next?

  20. Think Strategically about the Future • Loyalty is disappearing. • New technologies are being adopted by competitors. • Banking and financial institutions consolidation • New Competition – online / virtual banking (ex.: …ing) Source: BancVue

  21. What is happening now to CU? 1 Credit Union per/day disappears in the U.S!

  22. ► 1990 70% of all assets were with small financial institutions and community banks. ►2010 70% of all assets are in the mega banks! Source: CuVest

  23. Loyalty In this new era, members’ loyalty is defined by: • Technology • Convenience • Product

  24. The Future is today! Don’t be part of this statistic!

  25. Are you ready to compete? The only way to stay competitive is through Cooperation!

  26. “In this new wave of technology, you can't do it all yourself, you have to form alliances”. Carlos Slim Helú CEO Telmex

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