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John Dolan-Heitlinger was Vice President of Finance and Marketing at Eli Lilly FCU in Indianapolis, IN, from 1985 to 1988; CEO of Solidarity Community FCU in Kokomo, IN, from 1988 to 1991, and CEO of Keys FCU in Key West, FL, from 1991-2007. Dolan-Heitlinger now operates a consulting firm in Key West. He works with credit unions to improve strategic development and tactics, education, and metrics. He is the co-author of the award winning book Finance Without Fear: A Guide to Creating and Managing a Profitable Business.
Just as assimilation was integral to Roman expansion, to build a successful community relations program, credit unions must assimilate the ways of its potential membership.
Simple credit cards, with member-friendly features and appropriate pricing, have broad appeal in the market today. If your credit union sold its portfolio, it might be time to consider issuing credit cards again.
As credit unions navigate their way through the current economic storm, I'd like to suggest that they revisit one of their most basic foundations.
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CEO John Dolan-Heitlinger of Keys FCU asks: Should an examiner be allowed to require a credit union to have a greater net worth than the level required by regulations?