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CEO of Trust Edge Leadership Institute, Trust Expert in Residence at High Point University, and Wall Street Journal bestselling author of The Trust Edge David Horsager discussed how credit unions uniquely benefit from being built on trust during a keynote speech at NAFCU's State of the Industry virtual event.

Horsager argued that trust is the greatest asset credit unions have and detailed the 8 Pillars of Trust that can be used to assess and resolve any problems that arise – both in business and in life.

He went on to pull from his experience in working with leaders across the globe and noted how we respond in times of crisis, and how we deal with issues, can have a huge impact on trust. In addition, he broke down the economic impact of trust, explaining that many of the issues faced during our daily lives can be traced back to a lack of trust.

"Trust is always the root issue and always the leading indicator," Horsager said, highlighting the impact and importance of creating trust.

In addition, Horsager offered questions for leaders to ask themselves that will help them get to the bottom of whether or not a lack of trust is causing their organization to lose out on potential revenue, sales, membership, and more.

"We can always find a gap that we can close, and when we do, it always effects impact and the bottom line," added Horsager.

In closing, Horsager noted members and consumers will want to work with a credit union because, above all else, they trust them with their future, finances, and freedom.

The association's award-winning staff and other industry experts gathered during NAFCU's State of the Industry – with the support of signature sponsor Mastercard - to equip industry leaders with data, trends, and key takeaways that are necessary to plan for the future.