Posts Tagged ‘change’
Should YOU Consider a Fractional Executive?
To thrive in today’s ever-evolving financial landscape, credit unions must adapt, innovate, and strategically manage their operations. One innovative solution that credit unions are increasingly turning to is the fractional executive. Fractional executives are experienced professionals who work, typically as contract employees, part-time or on a project basis, to provide specialized expertise and leadership. In…
Read MoreDiscovering Your Niche
How Credit Unions Can Identify and Serve Unique Markets Credit unions are known for their community-based approach and member-centric services. While larger banks are designed to cater to a broad spectrum of customers, “being all things to all people,” credit unions can have a distinct advantage by serving specific niche markets that require customized products…
Read MoreMake your strategic planning process INCLUSIVE
Strategic planning is an essential part of any organization’s success. It helps businesses to define their goals, set priorities, and allocate resources effectively. In today’s diverse and rapidly evolving work environment, it’s more important than ever to prioritize inclusivity in all aspects of business planning, especially strategic planning. Being more inclusive in strategic planning will…
Read MoreEmbedded Finance
Taking banking to where your members live their lives. Embedded finance refers to integrating financial products and services into non-financial platforms or businesses, allowing them to offer financial services seamlessly as part of their core offerings. This concept is gaining traction as technology advances and customer preferences evolve. In a credit union context, embedded finance…
Read MoreGet 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 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 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…
Read MoreThe Micromanager’s Guide to Being Everywhere and Nowhere at Once
Welcome to the hilariously frustrating world of micromanagement, where the boss’s watchful eye never blinks, and your every move is scrutinized to the point of absurdity. Working for a micromanager is like being trapped in a never-ending episode of “The Truman Show,” where your entire existence is monitored and controlled for the entertainment of your…
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