Search: target market

6 Questions Credit Unions Should Answer to Strengthen Their Strategy

It is no secret that decisions are more complex and far-reaching, and margins are razor thin. Traditional and non-traditional opponents on the battlefield keep multiplying and plotting to get your members’ business, all while credit unions have to allocate their finite resources to the regulatory avalanches, such as NCUA’s NEV test, RBC, and CECL. Below […]

CECL’s Threats To Your Business Model: Six Questions To Consider

CECL is a new set of rules that every credit union eventually will have to play by. While it may not be in effect until 2021, many credit unions could find that they need all that time to reposition their business models to prepare for its impact. Keep in mind that the impact being discussed […]

Don’t Let the HOW Stand in the Way of the WHAT in Strategic Planning

We find that one of the pitfalls of the strategic planning process is that too much focus is placed on the “how” (implementation) before the “what” (strategy) has been decided. Often, decision-makers will gravitate toward the “how” because it feels more tangible but also because it seems to help determine the likelihood of success. This […]

Member Acquisition: A Relevant Strategic Planning Topic

Where will your next members come from? This question often comes up during credit union strategic planning sessions and it can spark great strategic discussions. The conversation usually starts with understanding and quantifying where current members come from and how trends have been changing. Common sources for new member acquisition include: Indirect source: Auto dealerships, […]

Start typing and press Enter to search