It takes a village to raise a child. To raise a project, it takes a great team. If your credit union has ever tried to implement a new project, you might have discovered that one of the biggest factors influencing it is the people you have involved—they can either help or hinder your project’s success. […]
As many credit unions begin addressing their strategic plans this fall, it’s important that stakeholders have adequate business intelligence to help inform and support decisions to continue or adjust strategic direction. While each credit union’s areas of focus will certainly be unique, there are common themes that we recommend all credit unions consider as they […]
Credit unions need to analyze and understand their loan pipeline. Many institutions currently look at their approval ratio or a “look-to-book” that tells them the percentage of applications being funded. Both of these measures have value but don’t necessarily provide the full picture. Ideally, credit unions should be looking at the number of applications, percent […]
Looking over the last 12 months, what has happened to your credit union’s net interest margin? If yours is like most credit unions, the answer is it has declined. Competition for loans and low interest rates continue to erode yield on assets. Cost of funds has declined but (for most places) not enough to completely […]
Experts say one of the biggest outcomes from the current recession will be leaner companies that run more efficiently with less staff. According to a recent article titled Companies Do More With Fewer Workers (USA Today, 02/23/11), productivity has risen more in the current recovery than previous ones (except for 2001), jumping 3.5% in 2009 […]