CEO Advisory GroupDoes Your Credit Union Need to Reinvent Its Swing?
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.
Members Win
As the services a credit union offers expands, it grows member roots deeper into the culture and future of the organization.
Employees Win
The future of credit union jobs teem with growth through benefits such as increased total compensation and a new range of career advancement opportunities
The Community Wins
As a credit union’s potential expands, they have the ability to make a greater impact in the community.
3 Tips to Protect Credit Union Deposits
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.
Wake-Up Call
The recession of the last two years has been a wake-up call for the credit union industry. Despite the continuing troubling signs in the economy and for individual credit unions’ financial performance, credit union boards and management keep… Read More
2008 National Credit Union Growth Study
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.
Evaluating Leadership Quality in Succession Planning
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.
The Science of Growth
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.
Market Expansion Through Mergers
The value of merging is becoming increasingly clear for both the continuing and acquired credit union. When you evaluate the drivers of value for members—rates, fees, convenient locations, extended hours, phone support, electronic access, service quality, and product variety—it is evident that combining two credit unions can offer greater value, particularly when a small credit union merges with a large credit union.
8 Factors of a Successful Merger
In our work with credit unions, we’ve uncovered these crucial factors in managing a successful merger.
The Urge to Merge
Medium and large CUs seek to increase their scale of new markets, members, branches and, preferably, nondiluting capital costs. Member demands for convenience and accessibility, competitive pressures, technological and regulatory changes, and the current economic cycle are coming together like a “perfect storm” for mergers. Mergers provide continuing CUs with instant members, facilities, trained staff and market awareness.