From shaping the industry’s approach to data to framing the conversation around key industry issues, here’s a look at the impact we’ve made — and what’s to come
It’s Monday, April 1, 1985. You’re headed home from work at the credit union, one of more than 10,000 nationwide. You’re sitting behind the wheel of a Chevy Cavalier — the top-selling car in America at the time — with “We Are The World” piping out of the speakers. Not surprising, as it’s the No. 1 song in the country. You’ve got to make a stop at the grocery store, where the price of eggs has dropped to about 50 cents a dozen — roughly 20 cents cheaper than one month prior — but you’re already starting to think ahead to the weekend. Maybe you’ll head to the theater for “Police Academy 2,” and see what all the fuss is about — after all, it’s the most popular movie in America. But tonight you’re planning to sit down for the NCAA championship game to see whether Villanova can pull off an upset over Georgetown. (Spoiler alert: they did).
April 1 might be known for pranks and laughs, but it’s a big day for credit unions for another reason. April 1, 1985, was the day Callahan & Associates opened its doors, and for the past 40 years, we have shaped the industry with data and thought leadership that helps credit unions bring hope and prosperity to their members and communities.
Launched by Ed Callahan (a former NCUA chairman), Chip Filson, and Bucky Sebastian, the company has grown from modest beginnings to an industry institution that employs nearly 100 people. More importantly, today we serve more than 750 credit unions and more than 200 vendors — including many of the industry’s largest and most influential — from across the country.
Decades Of Making A Difference
Of course, in the way that serving members is about more than mere financial services, Callahan has always done more than just provide data. There’s a reason we’re known as “the credit union company.”
Callahan has long believed that leading with purpose can separate credit unions from the competition. Any banker can put up a storefront and offer a checking account, but it’s something else entirely to look out for members’ financial wellbeing while also fostering a symbiotic relationship with the community.
Callahan was an early adopter of the internet. Through our media arm — which includes CreditUnions.com, print publications, webinars, and more — we’ve chronicled the industry’s response to everything from the housing crisis and the pandemic to widespread market uncertainty, the rise of AI, and more. Furthermore, we’ve been a place for key industry figures to provide thought leadership on everything from housing to payments trends, the rise of remote work, and beyond. Our media team has always focused on providing content that moves credit unions of all sizes to take action.
Although Callahan is best known for helping credit unions benchmark their performance and understand how to capitalize on new opportunities, we’ve also emphasized the importance of making an impact. That happens in all manner of ways, whether it’s through innovative programs that serve the homeless, tackling a variety of systemic issues, social media campaigns that rally the community … the list goes on and on.
As Credit Unions Evolve, So Do We
For 40 years, we’ve helped shape how the industry accesses data and benchmarks performance, and as the industry has evolved, so has Callahan. In the old days, we mailed our Peer-To-Peer benchmarking software every quarter on floppy discs and later on CD-ROMs. But as credit unions embraced digital transformation, so did Callahan. Our upgraded Peer Suite has been web-based since the early 2000s — right around the same time AOL stopped mailing CD-ROMs — allowing for faster updates, speedier developments, and a more responsive user experience. The future of data analysis is only getting better, and we’ve got big plans up our sleeves.
Each week, our associates crisscross the country for consulting engagements that help credit unions of all sizes shape their approach to the challenges and opportunities of the moment. Our Credit Union Financial Services Limited Partnership (CUFSLP) brings together leaders from across the industry twice a year for wide-ranging discussions about how we move the industry forward and tackle challenges that go beyond just basic banking, such as affordable housing, community revitalization, financial health, and more.
We’ve connected industry leaders from across the country for in-person roundtables and discussions, and expanded those offerings as technology advances, with regular virtual events. And then there’s the networking, such as our annual Cooperative Spirits Happy Hour each year during GAC, held in conjunction with other industry mainstays like CU Strategic Planning, CU Student Choice, and more. Even better, the wide reach we’ve gained over the decades has fostered informal, unintentional connections – you don’t have to look far to find a Calla-fan, and they’re nearly always willing to work together to share new ideas and approaches.
Just as credit unions are nothing without their members, Callahan wouldn’t be what it is today without the support of credit unions and the industry. Client relationships have been instrumental to our success, and the movement’s collaborative nature has helped spur Callahan to greater heights than we could have achieved on our own.
If Callahan has meant something to you — whether we’ve inspired you to think differently, helped evolve your strategic agenda, fostered collaboration within the industry, or any other kind of impact — we want to hear from you. Share your story of what this work has meant to you and your credit union. We are “the credit union company,” after all.
Here’s to another 40 years of sparking new ideas and inspiring leaders to take action.
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