Posts Tagged ‘tactics’
Five Steps to Creating a Digital Culture
When asked “In the past year, which method did you use most often to manage your bank account(s)?” consumers responded as follows: Mobile (apps on smartphone or tablet) – 45% Internet/Online (Laptop or PC) – 27% Branches – 14% (Oct 31, 2022 – American Bankers Association) This statistic says a lot! Mobile utilization is the preferred method…
Read MoreFinancial Literacy vs Financial Wellness – a Consumer’s View
Credit unions and banks across the country have financial literacy on their to-do list, but what consumers need/want is a roadmap to financial wellness, not just financial literacy. Well, what’s the difference? Financial literacy is about understanding money basics. Typically the curriculum includes topics like “how to balance your checkbook,” “what is a savings account,”…
Read MoreMake 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 MoreReport Inconsistencies are Frustrating
One of the biggest frustrations found in most credit unions is the numbers between two or more departments don’t jive. The conversation almost always leans toward trying to figure out which data set is correct, which one to believe. The ultimate goal for these organizations is to find that elusive “one source of truth.” So,…
Read MoreFive Strategic Questions for the Board and Senior Management
It’s a strange time for credit unions. Credit unions face unprecedented pressures from regulators and examiners and capital pressures for net interest margins and fee income. Often they don’t benefit from “economies of scale” or the resources, people, and capital, to invest in the infrastructure demands of vendor due diligence, regulatory compliance, or technology demands…
Read MoreThree Things That Go Wrong with Data Reports
A consistent issue most credit unions have is the lack of consistency from one report to the next. To diagnose why this inconsistency exists we should look first at these three elements of the report: Timing – two reports run at two different end times or interval times will tell different stories. But it’s not…
Read MoreLeadership – “Its Lonely at the Top”
This saying strikes a chord and gets especially real when we are fond of the people you lead. It is difficult to keep business and friendship separated, and when we fail, the consequences are painful for all parties involved. So, how do you create a work environment that leverages the power of people who enjoy…
Read MorePreparing Your Culture Ready for Data Analytics
When most of us think about data, we think about numbers, charts, graphs, and reports. However, we need to talk about CULTURE. Collecting, aggregating, normalizing, manipulating, and presenting data seems to consume the conversation. However, here is the question we need to ask ourselves, “Is our culture ready to become truly data-driven?” Too often organizations…
Read MoreData-Driven Marketing – A Primer
For marketers today, it was essential to bring to light how the Marketing team will provide offers to members as it’s a significant change to our traditional methodology. The new approach is designed to provide improved, more consistent and more relevant product offers using the wealth of data from our core and your ancillary systems…
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