Alongside Iowa Credit Union League President & CEO Pat Jury and TMG Senior Advisor Jeff Russell, I recently attended the 2012 International Summit of Cooperatives in Quebec, Canada. It was exhilarating to be among the more than 2,800 attendees from across the globe, all coming together under one roof to share ideas about advancing the cooperative movement.
Creating greater awareness of the cooperative business model was a big part of discussions happening throughout the summit. As the United Nations has declared 2012 the International Year of Cooperatives, there was a spirit of camaraderie and excitement around the global opportunity to shine a spotlight on the movement.
Consensus was reached around one crucial point – for more global citizens to recognize the value and success of cooperatives, we much encourage participation from the academic community. Today’s field trips, text books and lectures rarely take advantage of cooperative models to teach our children, teens and college students. Without this diversity of thought, how can we expect the next generation of leaders to evoke the cooperative spirit as they build businesses with the power to change the world?
The lack of data detailing the success of cooperatives was another sticking point. As a movement, attendees agreed, we must work to bring data, research and findings to the forefront because that is the kind of messaging that resonates with the average consumer or businessperson.
The telling of our success stories is another must. Indeed the credit union movement specifically has a fantastic story of survival. Even through financial collapse, the credit union remained intact largely because leaders were held accountable to their members. Not driven by greed or inflated profits, credit unions continue to “do well by doing good.”
That said, there is always room for improvement. We must ask: How will we reinvent ourselves to advance our model?
Sitting in a room with leaders from all manner of cooperatives – from credit unions to energy coops – it was apparent collaboration will be important as we work to find the answers to this question. By broadening our lens, we in the credit union movement can learn from other cooperatives, those that have overcome challenges through innovation, grown marketshare against all odds or expanded products and services beyond anything imagined.
Just the tiny peek I got into the global cooperative movement at the summit was intensely motivating. I can only imagine the wealth of inspiration that will come from further exploration.