Expansion through merger is a cost effective way to increase market penetration within the existing market, acquire new branch locations, increase footprint, and add vital fields of membership (FOMs) to the charter.p>
Our vast experience with boards and CEO’s provides us the insight and compassion to understand the many factors that drive the issues around merging into another credit union, as well as the obstacles that may hinder the process.
Results from the 2008 National CEO Growth Survey were combined with an in‐depth industry analysis of 5300 Call Reports conducted by CEO Advisory Group. This analysis of national trends data has helped us identify at least 7 significant variables that are demonstrating increased growth performance and potential “growth keys to success” for generating higher productivity.
Credit unions will be experiencing unprecedented change in their leadership over the next five years. With the current economic climate and competitive landscape, selecting and nurturing strong leadership has become imperative for credit unions’ future success. In their succession planning credit unions must account for leadership quality.
Think your credit union can’t fail? Think again.
Though seen as the sleepy backwater of banking, credit unions do sometimes fail. Like banks, they may hand out bad loans, suffer mismanagement or make speculative investments.
Is a good old-fashioned strategic plan in today’s highly competitive envi- ronment enough to help your credit union truly thrive? Not according to at least one credit union CEO. To quantify real growth from market share, member loyalty and efficiency, the traditional strategic plan must be enhanced with a balance of ongoing growth measures that board and management agree on and measure success by.
Despite overwhelming success early in his career on the tour, Tiger Woods willingly took the risk of overhauling his swing in order to take him to the top of his profession. As credit unions enter the strategic planning process this year, credit union leaders also have the opportunity to reinvent their business strategies in order to take their credit unions to the next plateau of performance.