Alignment of Values

We are currently going through organizational wide training on Extraordinary Leadership. Today's topic was values. We talked extensively about aligning values with the organization, work teams and personal values. It struck me though, we didn't talk about aligning organizational values with our membership.

What values do our members want and need from their financial institution? Is it the same for all members? What if it is different for each member? We have the one to one marketing and the customer/member advocate approach but does that really match values? Will consumers consider value alignment over other tangible reasons? In looking at our most recent survey, the top member service attribute was protecting my privacy and the number two attribute was the development of trust. This is over the number of ATM's, price, fees, etc. I think credit unions have the ability to make both of those slam dunks. Of course, some consumers will value convenience, etc but for those who don't, isn't this where we should be competing with the big banks? Can't we leverage social media and embrace transparency to connect with consumers looking for protection of privacy and trust?

Maybe mass customization is not about products but about creating ways to align and match the organizational values with the values desired by consumers. It is not about product or price but about trust, transparency and protection. Brand is not built with ads, logos or slogans. Brand is built by the values of the organization and how those values are promoted, practiced and delivered each and every day with every transaction.

This means we try to avoid deceptive advertising, we design products to make members lives better, we offer hope and prosperity not debt and fees. I am not advocating the lack of profit but profit is used to fuel the innovation that leads to greater realization of dreams for those who choose to participate. Can't all credit unions do more to curb poor financial decision making? We don't because the short term ROI doesn't make sense. Yet when we don't do this, we are in direct contradiction with our organizational values and the values our members are looking to receive from us. This is but one example of many where alignment of values is sorely out of kilter.