The President’s Perspective

​Reflections on the retirement and departure of dedicated employees; a tribute to the dedication that shapes your association. Plus, keeping an eye on CCCA. 

The heart of an organization.
Greetings, and happy December! It appears the Holiday Season is officially upon us. I trust that you had some time to unwind and recharge over the weekend. I often pause around this time each year to reflect on the last months and take stock of the successes and the difficult challenges that come with managing a professional, member-driven trade association.

This summer, I celebrated my 17th year here at the Dakota Credit Union Association. Over that time, I have witnessed a lot of changes, and I have had the opportunity to work with some extraordinary and talented people. It’s safe to say that change has always been constant; we are, after all, an industry that is consolidating and transforming almost daily. For me, I keep coming back to the people I have worked with and the partnerships we formed while serving our members.
 
An organization is much more than its mission statement, products, or services. At its core, it is a community of people—individuals who dedicate themselves to the collective goals of the organization, bring innovation to challenges, and leave their unique imprint on the workplace.
 
Attrition is normal and staff evolution is expected. However, over the last 24 months the association has lost over 113 years of institutional knowledge through job promotions and retirements. When long-serving, dedicated employees depart, the loss is not just a matter of numbers or roles to fill – it’s a profound transition that affects the organization’s culture, continuity, and collective memory.
 
Institutional knowledge is the sum of an employee’s accumulated experience, historical perspective, and understanding of the intricacies of the organization’s operations. It’s not something that can be easily documented in a training manual or passed down in a series of meetings. This knowledge lives in the context of experiences: the projects they navigated; the crises they overcame; the relationships they nurtured.
 
Losing an employee with years of service is like closing a chapter in an unwritten history book. These individuals often serve as unofficial historians, advisors, and mentors, bridging the past to the present and guiding the organization into the future. When they leave, so too does a vital thread of continuity that ties today’s work to a legacy of purpose and progress.
 
Beyond their skills and expertise, dedicated employees bring humanity to the workplace. They celebrate milestones, rally during challenges, and embody the values of the organization in ways that inspire others. Their presence fosters camaraderie and trust, and their departures often leave emotional voids in their teams.
 
These individuals are more than just coworkers; they are the mentors who provide wisdom, the cheerleaders who encourage during tough times, and the problem solvers who find innovative paths forward. Their absence is felt in the intangible, day-to-day moments that make an organization feel like a community.
 
Embracing change while honoring the past.
The departure of such employees is inevitable—it’s a part of life and growth. But as an organization, it’s crucial to honor their contributions and ensure their legacy is not forgotten. This involves more than a farewell card or a going-away party. It means capturing their knowledge, celebrating their achievements, and weaving their lessons into the organization’s future.
 
Leaders can create mentoring opportunities, develop knowledge-sharing systems, and foster a culture of documentation and collaboration to mitigate the impact of such losses. However, it’s equally important to take the time to express gratitude, recognize their role in shaping the organization, and build bridges between the past and the next chapter.
 
A tribute to the dedication that shapes us.
Dedicated employees remind us that organizations are built not just on strategic plans and metrics, but on commitment, passion, and shared purpose. When they move on, it’s an opportunity to reflect on what they’ve given, to appreciate their impact, and to ensure that their spirit continues to inspire.
 
In the end, the mark of a great organization is not just the legacy left by those who depart, but the resilience to honor their contributions while embracing the future with the same dedication they exemplified. It’s a powerful reminder that while individuals may move on, the values they uphold endure and continue to shape the path forward.
 
With all of that said, I humbly dedicate this article to those former Dakota Credit Union Association employees who have left their mark and dedicated themselves to serving you and helping move this wonderful industry forward.
 
Keeping an eye on the Lame Duck Session and the Credit Card Competition Act.
Several weeks ago, I covered extensively the negative impacts if the Credit Card Competition Act (CCCA) passes. Spearheaded by Senator Dick Durbin, the CCCA aims to increase competition in credit card processing by requiring card issuers to enable multiple networks for routing transactions, effectively reducing the dominance of Visa and Mastercard.
 
As you know, credit unions and community banks rely on interchange fees to fund their operations, including fraud protection, credit card rewards, and other services. The mandated routing changes could lower interchange revenue and increase compliance and technology costs, squeezing their already thin margins. Another negative impact will impact consumer benefits and rewards. Credit card rewards programs, which are heavily funded by interchange fees, could be scaled back or eliminated, negatively affecting consumers who rely on these benefits. This has already been observed in debit card markets after the Durbin Amendment was enacted in 2010. In addition, the CCA could result in weakened security protections and market disruption. Finally, while the CCCA is framed as a pro-competition measure, its impacts would disproportionately harm smaller financial institutions. Rest assured, we are keeping an eye on any developments going forward.

CEO Town Hall next Tuesday!
One final reminder - be sure to join us for the next DakCU CEO Town Hall one week from today on Tuesday, December 10, at 3:00 p.m. (CT). America’s Credit Unions Chief Advocacy Officer, Carrie Hunt, will be providing a legislative update. DakCU staff will also provide an association update on items our staff has been working on, including our State-Wide Awareness Program (SWAP), a preview of exciting upcoming events, and other items of interest. If you are unable to attend, feel free to invite another executive in a leadership position from your credit union. Please reach out to me directly if you need the meeting link. 

Have a great week,

DakCU President/CEO