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When it comes to strategic planning, there is one factor that should not be overlooked – your staff. Not only can they provide valuable insight, knowing that they can have an impact on future products and improving member services will only strengthen your credit union’s culture. Also worth considering in these conversations is the 2013-2014 CUNA Environmental Scan, as featured in Credit Union Magazine, which provides some food for thought on what should be the focus of CUs strategic planning sessions.
Here are some of the issues they believe should top your strategic planning conversations:
- Mobile payments and banking, and understanding malware
- Credit union lending – particularly preparing for auto loan growth
- Credit union earnings – of which they predict will drop in 2013 and 2014
- Unite for Good – incorporate this nationwide shared vision into your CU’s own philosophy
- Reaching out to unbanked and underbanked consumers
- The compliance burden – 2013 will be busier than 2012 with the onslaught of new Consumer Financial Protection Bureau (CFPB) mortgage rules.
- CEO succession planning
- Gen Y – addressing low awareness levels
At Synergent, we meet with credit unions and help them with these global concerns, as well as ones specific to each credit union. As we have a variety of services under one roof, we help credit unions best bring a return on investment through our core processing, using the core for strategic targeting marketing, and comprehensive payment system products.
In addition to these resources, Synergent is also offering another tool to help you in the strategic planning process – your choice of one of two books by speaker, brand expert and strategic planner Mark Arnold – My Best Service Ever, and Think Huge. Find out more!
