CEO
Get Closer to Your Member with Nano Strategies
Nano strategies at a credit union would refer to implementing highly focused, granular, and member-centric approaches to achieve various goals, such as improving member experience, enhancing operational efficiency, and increasing financial performance. These strategies involve leveraging technology, data, and innovative practices to create personalized experiences and streamline processes. Here are some examples of what nano…
Read MoreA Successful Remote Strategy is Possible
It is time we all get real. A remote/hybrid workforce is a reality, and the more executives try to fight it, the risk of quiet/loud quitting potentially results in performance gaps. A remote/hybrid remote work model allows the credit union to hire the best and the brightest because it acknowledges that some potentially high-performing employees…
Read MoreWhen Certifications and Soft Skills Collide: Navigating the Hilarious Maze of Career Advancement
In the wacky world of career advancement, a cosmic dance exists between certifications and soft skills. It’s like watching two rivaling dance troupes—one comprised of highly qualified robots armed with certificates and the other filled with quirky humans armed with charm and wit. Think of River Dance competing with Freestyle Jazz Dance. The result? A…
Read MoreFinancial Education, Literacy, or Wellness – Oh My!
In credit unions, Financial Education, Financial Literacy, and Financial Wellness are seemingly interchangeable, but each has a distinct meaning and purpose. What does your credit union want to become in the eyes of your members and the community? Which of these options will differentiate you from other financial providers? Financial Education: Financial education provides consumers…
Read MoreHarmony of Purpose in Strategic Execution
In the fast-paced and ever-changing financial services landscape, the successful execution of a strategic plan is crucial to a credit union’s growth and sustainability. However, even the most well-crafted strategies can fall short of their intended outcomes if they are not effectively aligned with a consistent and disciplined culture. Cultural alignment is pivotal in strategic…
Read MoreLessons from the Airline Cancellation Debacle
A credit union can draw some lessons from the past year’s major airline cancellation debacle. Here are some potential takeaways: It’s important to note that each industry has unique challenges and characteristics. Therefore, while credit unions can draw inspiration from other sectors’ experiences, they must adapt and tailor the lessons to their specific operations and…
Read MoreIndirect Auto Lending? Pros and Cons.
Indirect auto lending, where a credit union partners with car dealerships or a direct lending CUSO to offer financing to their customers, has become a popular method of expanding loan portfolios and attracting new members. However, like any financial service, there are both benefits and drawbacks associated with this approach. This article will explore the…
Read MoreThe Retired CEO won’t get out of the way… What should the board do?
A very high-profile credit union faces a leadership and strategic crisis that may derail the organization for decades. Here is the situation I have observed from afar. The retired CEO disagreed with the new CEO’s direction for the credit union and won’t get out of the way. He has publicly disrupted the organization’s annual meeting,…
Read MoreBuilding a Niche Marketing Strategy
Building a sustainable niche marketing strategy involves careful planning, research, and implementation. Here are 14 steps you can follow to develop a sustainable niche marketing strategy: Remember, building a sustainable niche marketing strategy requires patience and consistency. It’s essential to stay committed to your target niche, adapt to changes in the market, and continuously innovate…
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