We talked with the Queen.
The CU “Queen of Innovation” that is. And she had some pretty spectacular advice for credit unions across the land.
Anne Legg joins us this month on CU Changemakers: Women On Work (WOW) to chat CUs, data, and more. Sponsored by CRMNEXT, this podcast series celebrates extraordinary women in the credit union world—as an Internationally recognized CU Industry Leader, Author, Educator, and Founder of THRIVE Strategic Services—it doesn’t get more extraordinary than Anne Legg.
What data means to CUs today.
Anne stresses the fact that the credit union is a mission-based institution, and- as such- should always be asking what problem the member needs solved.
“What is that purchase journey that the member is coming to get? What is the information needed to make that journey really powerful? And how do we work as a credit union to constantly find new ways to improve that overall problem-solving capability? The platform and the foundation of all of that,” says Anne, “is gorgeous data.”
Data-driven experiences (and the power they have).
Our expert lays out the 3 phases of data analytics, all of which ultimately lead back to the importance of creating “that same gorgeous intimacy that [credit unions] have always had with our members—why we love them and why we serve them—and add the technology ability to do so.”
Women in the CU World who’ve inspired Anne.
Anne got her start in the marketing function of credit unions. She shares some fascinating details (seriously, listen) around her journey to where she is today, and she’s quick to credit the many women who’ve inspired her along the way.
From the earliest pioneers in the movement to women Anne’s worked with in the movement – like Caroline Willard, Diana Dykstra, Gigi Hyland, Michelle Hunter, Jill Nowacki, and Mia Perez – Anne is grateful for extraordinary friends and colleagues across the industry who “have all made some great trajectories and some incredible impacts.”
THRIVE 101, and the story behind Anne’s book, Big Data/Big Climb.
THRIVE Strategic Services is all about coming up with “easy, doable, functional, actionable ways to leverage our data, harness it, and improve our members’ lives.”
It’s origin story? Anne realized that the problem to solve was—how does a CU have a pathway to harness all their data to improve the members’ lives? “And that,” she says, “was the beautiful germination of THRIVE.”
As for Anne’s book, Big Data/Big Climb: A credit union playbook for leveraging data and talent, you’ll want to listen in for the story behind its title and its creation. (Hint: 8 days on Mount Kilimanjaro gives you time to think!)
Working with CUs of all sizes.
Anne believes in data education for CUs of all sizes. As she puts it, “There’s one thing that brings us all together, and that’s the member. So, if you’re starting—and no matter where you are on this trajectory from asset size—focus on the member.”
She puts special emphasis on tackling member friction. And she cautions strongly against stagnation. “The most important part is that a credit union cannot stand still,” Anne says. “Standing still is the recipe for death. You will lose market share…You will lose the member.”
What’s next for Anne and her organization.
Anne lights up talking about the future of THRIVE. Their 5-year-goal? Educate 25% of the industry (around 1300 CUs). “We want to be part of how we can absolutely change and sustain and truly improve our members’ lives.”
Upcoming: Date With Data Event (May 2-3).
Hosted by CU Sol—in partnership with CRMNEXT and Arkatechture—Anne will be speaking at the Date With Data summit May 2-3 at America’s CU Museum. The goal: provide an in-person, educational, fun experience that gives you the tools you need to take your data and turn it into action.
Anne’s Top Tips for Women in the Movement.
Such great insights shared here, but broken down to bare bones, Anne suggests:
- Stay curious. Never accept the status quo.
- Learn the art of the yes/no: agreeing to pivot plans when asked but making it clear that other things will need to be removed.
- Align yourself with those who fuel your professional soul. Find and build your tribe.
- Be your best champion.
- Face your fears.
Yep, some pretty spectacular advice right there. All hail the Queen. 😉
Find this interview, and many more by subscribing to Banking on Experience Podcast Series on iTunes. You can also find us on Spotify, Google Podcasts, or visit our page on Casted.