NAFCU Webcast – Strategic Opportunities are Abundant, Making Longer-Term Financial Forecasting a Must – An Executive View
Aug 07, 2018
Tuesday, August 7, 2018 | 2:00 p.m. – 3:30 p.m. Eastern Time
Presenter: c. myers corporation
Description: Given the rapid change of pace, fierce competition, and members wanting more for less instantly, it is increasingly important for credit unions to seek out clear financial answers to key strategic questions in order to keep the credit union relevant and sustainable in the long term.
The financial implications of each of these forces can be material and may have various outcomes. Learning to think through alternative paths and see a range of potential outcomes can open up thinking and discussion that can better position the credit union for the future. This repeatable process can help prioritize objectives and drive the credit union forward.
The long-term financial forecast process bridges the gap between the shorter-term tactics and the longer-term strategic goals, by helping answer the ultimate questions:
- Does the strategic plan result in our desired financial performance for the credit union?
- What could get in the way of achieving the strategy, and are there steps we can take to prevent such obstacles?
Covered Topics: Long-term financial forecasting
- Strategic questions to answer during the long-term financial forecasting process
- A process that can be followed for effective long-term financial forecasting
- Examples of alternative paths that a credit union may consider
- Strategies for creating long-term financial forecasts