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Does Your CU Invest? The Time to Invest in Technology is Now!

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Credit unions are only deemed successful when they bring value to its members.

By W.B. King

I was speaking with Sabeh Samaha, Samaha Associates’ CEO, recently. He is a technology and e-business consulting guru who knows his way around mergers, acquisitions, core systems, business resumption planning, revenue optimizations and negotiating vendor contracts. Since he has his finger on the pulse of the industry, we frequently have exploratory conversations about best practices. The topic this time around was not about how credit unions can increase efficiency by not spending money on technology; rather it was about the opposite: time to invest.

One line he said to me stood out: “Denial leads to failure.” Samaha recently joined forces with Shapiro Partners, a CU
consulting firm, bringing to our conversation another industry leader, Adam Denbo, a senior managing consultant. Denbo added that many credit unions are holding back on making technology
investments not realizing “this is the perfect time to implement best breed technologies.”

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