The Federal Credit Union July-August 2013 - (Page 72)

potomac view Before I Go By Fred Becker, NAFCU President and CEO A s this is my final Potomac View, I want to begin by thanking the NAFCU Board — both past and present — and you, NAFCU’s members, for the wonderful opportunity, and for the support I have received over the past 13½ years. I also want to thank the marvelous NAFCU staff — the “A-Team” — for their dedication and devotion to you, our members, and for their steadfast support of me. Serving as the CEO of one of the major Washington trade associations is an opportunity most can only dream of, and it has allowed me to have two very distinct careers (the other as a naval officer) — a privilege that few experience. Needless to say, it has been a remarkable journey, and I have gained many friends whom I will stay in touch with in the years to come. Most importantly, I want to thank my wife, Barbara, and daughters, Kim, Lori, Missie and Ashley, for having supported me in serving you. They, along with my three sons-in-law and our four grandchildren, have permitted me to remain available to you — NAFCU’s membership — 24 hours a day, 365 days a year. They have been patient with the many interruptions to their meals, weekend activities, holidays and vacations. In addition, they have enthusiastically supported my busy travel schedule with cell phone calls that typically began with, “Where are you, Dad?” NAFCU exists to serve you, so that you can serve your members. Representing the credit union industry, which is known for its member service, has been both challenging and rewarding. It is a job where one must come prepared to “bring the heat” every day. The decision to leave was not easy to make. That said, with everything in life there is a time and there is a season — and it is time. I wish Dan Berger and the exemplary NAFCU staff all the best. As legendary UCLA basketball coach John Wooden said, “I’ve done my job. Now the rest is up to you.” With my departure approaching, I have been contemplating the industry I leave behind. No industry has seen as much turmoil and change over the past decade as the financial services industry. Credit unions have gotten bigger and more sophisticated. They have clearly come of age. There are more community charters and field-of-membership overlaps. But the industry continues to be impacted by the nation’s financial crisis and slow economic recovery. New regulations, primarily from the Consumer Financial Protection Bureau (CFPB), are being issued at a torrential rate. The changes have brought challenges, as well as ever-increasing competition. The challenges will likely continue. As Warren Buffett noted, “The pace of change in terms of what [consumers] are doing, how they pay us, how they come to us — it’s breathtaking. … Any company that interacts with consumers and thinks that last week’s technology and approach is going to work five years from now is probably making a mistake.” I have heard many voice concern and uneasiness about these changes, as well as the rapid pace at which they come. While I cannot predict the future, I will make one prediction of which I am virtually certain: Change will continue — and it must be embraced. Together, we have stood steadfast through one of the worst financial crises in the history of our great nation. By embracing change, you are poised to continue that success, and to be the true leaders of the financial services industry. Change will continue — and it must be embraced. 72 The Federal CrediT Union July–August 2013

Table of Contents for the Digital Edition of The Federal Credit Union July-August 2013

Voices and Opinions
From the Chair
Inside NAFCU
Fred Becker Leaves a Lasting Impression; Dan Berger Moves to CEO
Charting a Course
The 2013 NAFCU Award Winners
2013 Exhibitor Directory
Getting to Know...
Management Insight
Inside NAFCU Services
Potomac View

The Federal Credit Union July-August 2013