Exclusive Interview:
CEO Urges Marketers to Learn the Numbers
Cheryl Johannes, Client Development
Recently, Michael Poulos, CEO of Michigan First and CU Marketing University faculty member, spoke about the importance of marketing professionals understanding the financial numbers with me. His opinion is that financial training will drive better bottom line results for the credit union.
CJ: In today's interesting economic times, what are major concerns that you have overall as a CEO trying to manage the "numbers" in your Credit Union?
MP: The challenge for any credit union CEO today is trying to maintain balance and aggressiveness, while watching out for potential land mines. Any business can make money in good times but only good ones make money in bad times. Being reticent and overcautious are some of the concerns I have.
CJ: Why do you feel it is important for a marketing professional to understand the financial ratios and "the numbers"?
MP: Without any question, any marketing professional should understand the financial condition of the credit union and all the numbers that go along with it. They need to understand that these "numbers" tell them whether their marketing efforts have been successful or not. Understanding the financial condition of your credit union and being in sync with the financial goals is the foundation for being successful with the senior management team.
CJ: When you teach the financial session at CU Marketing University, what are some of the comments you get from students?
MP: Many students have told me that for the first time in their career, they now understand the financial nature of the credit union as a business and how marketing efforts contribute to it being more successful. What is most rewarding to me is seeing the lightbulbs go on as marketing professionals begin to understand the financial ratios and see that knowing the numbers is much simpler than they have been led to believe.
CJ: As a CEO, why do you feel it is important that credit union marketing professionals attend CUMU?
MP: The value received is so much more than the investment required. I’ve sent my entire marketing team through both tracks. They will get so much out of it such as great marketing and presentation tips, generational marketing, compliance information, and much more.
| "The most valuable thing about the Credit Union Marketing University for me was the relationship of my job to the numbers! Financials are no longer the mystery they once were – I can now use them and impact them. I would recommend the CUMU because of the multi-faceted program, intensive study, and the chance to work with a team to develop a 'winning presentation' is the icing on the cake!" - Lenny F., Class of '06 |
Poulos teaches a session on financial ratios and assists students with the financial aspects of the group project during the week-long CU Marketing University.
For more information or to register today, call 888.536.6243. |
Next Class: February 9 - 13, 2009 
