Search: target market

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, […]

Is Your Strategic Planning Session Strategically Planned?

If done appropriately, strategic planning can help guide a credit union toward making necessary decisions for the credit union’s future.  Strategic planning session(s) can outline where the credit union is now, determine where the credit union wants to be in the future and brainstorm how to get there. Below are some questions to consider when […]

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