Posts Tagged ‘CEO’
Make your Strategic Plan a Hero’s Story
When doing a strategic plan, most organizations really are good at thinking with aspiration, hope, and promise. Where the “failure” happens is on the execution of the plan. If you think about engaging movies, they all seem to be stories that include a variation of the hero’s journey. “Lord of the Rings”, “Star Wars”, and…
Read MoreFive Strategic Questions for the Board and Senior Management
It’s a strange time for credit unions. Credit unions are facing unprecedented pressures from regulators and examiners, and capital pressures for net interest margins and fee income. Often they don’t have the benefit of “economies of scale” or the resources, people, and capital, to invest in the infrastructure demands of vendor due diligence, regulatory compliance…
Read MoreCreating a Digital Culture in Five Steps
Mobile utilization is now the preferred method for consumers to manage their money and make deposits, transfers, and payments. Too often, credit union staff is not keeping pace with member adoption of the digital channels. What can a credit union do to prepare their team to support their member’s digital needs? Nurture a digital culture…
Read MoreStrategic Planning is the Easy Part
Working with organizations across the country, I see a familiar miss-step in their strategic planning process. The process I’ve observed is as follows: Once a year a strategic planning event is scheduled with the Board and a few key executives The event starts with a “state of the industry today” presentation, typically by a consultant.…
Read MorePay for Performance and Reputation Risk
An increasing trend in the financial services sector is “pay for performance.” This practice shows up in several formats: Commission – rep is paid a percentage of balances acquired Incentive – rep is paid per closed referral Bonus – rep is paid based on goal performance over a set period (per month, quarter, bi-annually, annually)…
Read MoreCredit Union Culture in a #metoo World
#Metoo has created a new world of awareness and change in our society. After reading multiple posts from family, friends, and co-workers, I was shocked at how widespread gender and sexual harassment was in the workplace. When you see #metoo posts from your daughter and daughter-in-law, it saddens me to the core. Everyone needs to…
Read MoreIs your Credit Union’s Org Chart Strategically Aligned?
Is your credit union organized for today’s consumer? All too often credit unions are “stuck” in an organization chart that reflects the business of the past not the company of the future. But what needs to change? The Past had some or all of the following strategic leaders Chief Executive Officer, Chief Financial Officer, Chief…
Read MoreDrifting Into the Sunset = Credit Union Risk
Many of us have seen this from afar; some of us from close at hand. The CEO is getting close to retirement and has set a course for the organization of just “drifting off into the sunset.” This syndrome happens when the strategic leader and driver of the credit union has decided to retire but…
Read MoreLeadership: Don’t leave it to Amateurs
If you were to describe your leadership style, what would you say? If you were to define the leadership style of your credit union what adjectives would you use? Like it or not, we all have a leadership style and if your credit union has not defined their preferred leadership style you have many varieties…
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