The FLEX Connexion Blog

3 March Madness Takeaways for Credit Unions

Written by Preston Packer | Mar 29, 2016

Even if you aren’t a fan of basketball, there’s no hiding from March Madness.  As the tournament winds down this week, corporate sponsors are still taking full advantage of every possible way to tie basketball into their advertising.  Your office probably has its own tournament bracket pool going, if not it was easy to find somewhere to submit a bracket or two or three.  Besides trying to win ‘the pot’ and bragging rights, March Madness can teach us a few lessons we can take to heart…or to the core for that matter.

1)   There is no “I” in team.  
Teamwork wins. Those teams (and credit unions) that work well together come out on top, just ask Syracuse. There are steps along the way to reaching a big goal like a national championship or overhauling your credit union core processing system. A team that defines roles that are accepted amongst the teammates, doesn’t backstab or place blame will roll through each game (or day) and set itself up for success.

2)   Not being the best is okay.
Why do people like to cheer on underdogs? Teams (and employees) work harder when they’re losing or feel a step behind the competition. Here is a statistic that should provide pause, teams that are losing by a point at halftime are actually more likely to win.  Underdogs can inspire and encourage us to always be our best no matter what the odds say. Think a project is too aggressive, or think you are too small to remain competitive? Believe in yourself and don’t be afraid to step onto the court.

3)   Already feeling on top of the world?
My college basketball team isn’t, they lost in the second round. My bracket is not feeling on top either…

However, a team (or credit union) that has experienced success and is considered a favorite in the tournament (or a leader in the industry) should be cautious to continue the behavior that got them there. A basketball team that found its success in ‘feeding the post’, will most likely not find success settling for long range 3-point attempts. Similarly, trying to run the clock instead of your offense with the lead sometimes backfires, just ask Stephen F. Austin.

Whether you feel like your credit union is an underdog (Northern Iowa or Middle Tennessee State) or a favorite (North Carolina or Villanova), remember that it’s up to you to level the playing field and success is not defined by the name on your jersey (or golf shirt), it’s awarded to those who want it the most.