Strategic Planning

"Strategic Planning for credit unions and community banks has two purposes, to create transformation and differentiation. Anything less than that is a waste of resources and time."

At L2L, whether we are doing strategic planning for the entire organization or helping to align the strategies of each business unit, we seek to define a better future. But more importantly, we also develop an implementation plan for the strategy and set agreed upon milestones for tracking and monitoring progress toward this new future for credit unions and community banks. When you do strategic planning with L2L we do not create a hand-off document but a road map to success; it is a partnership.

Organizational Strategic Planning

Create a future of possibilities and differentiation, These facilitated conversations will establish a clear direction for identifying your Mission, Purpose, and Promise and navigating the organization to your Vision of the future. We will identify what the “end” looks like, how it will be measured and set clear milestones along the way to monitor progress.

Data Strategy

Designing a plan for aggregating and mining your data sources so data can be used for strategic decisions, operational efficiency and effectiveness and marketing efficiencies.

Digital Transformation

Building a digital strategy that prepares the organization to compete in the digital economy: branch, culture, operations, lending and risk tolerance.

Business Development Strategy

Reinventing Business Development to partner with employer groups of scale (100 or more employees) and to create a consultative sales culture across the organization.

Cultural Transformation

A branded culture will differentiate the organization in a way that cannot be easily replicated. It is one critical way a credit union or community bank can create a new competitive business model that is sustainable. This is a process to help a financial institution fully understand their brand and leverage that brand to transform their culture, service style, and staff, at all levels.

The L2L Strategic Planning Process:

Meet with the executive team

  1. Review the state of Financial Services industry
    • Strengths
    • Weaknesses
    • Opportunities
    • Threats
    • Disruptors today, local and national
    • Disruptors tomorrow
  2. Where does Digital fit in your 3-5 year strategy?
  3. Where does data utilization fit in your 3-5 year strategy
  4. What are your barriers to getting new members
  5. What are your market and competitive advantages/barriers to acquiring members and getting product adoption?
  6. What are you doing well?
  7. What needs improving?
  8. Are your processes aligned and consistent across channels?
    • If not, which processes are aligned and where are the gaps?
    • What are you doing to close these process gaps?
  9. What will success look like in 3-5 years?
    • Member growth
    • Balance growth
    • Products per Household/member
    • Asset growth
    • What key ratios will we focus on?
  10. Will we measure the successful execution of this strategy?
    • % of new members by channel
    • Products per member/household by channel
    • Loan balances per member/household by channel
    • Deposit balances per member/household by channel
    • Asset size
    • ?
  11. What are the top three key projects needed to win with this strategy in the next year? What are the milestones? Who are the project owners?
    • Which of these are already in the queue? Status?
  12. What is likely to be the top three projects needed to win in the next year? Likely milestones? Project owners?
  13. What are assumed to be the top three projects in the third year?
  14. What are the plans for monitoring and follow-up by L2L?
  15. Define the communications plan
    • Staff - Who, when and where?
    • Board of Directors - Who, when and where?
  16. Next Steps?