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Focus more on members and the external environment, less on internal processes and rehashing historical data.
Knowing the answers to the following high-level questions may help you and your fellow directors understand the dynamics of marketing at your CU, ask the right questions, and establish the right support for your credit union’s marketing efforts.
The Latvian credit union movement has re-emerged after Soviet control to meet member needs and serve as a model of Democratic Control, Cooperative Principle 2.
Vancity’s overarching brand, “Make Good MoneyTM,” focuses on Cooperative Principle 1. The CU appeals to people’s sense of wanting to belong to an organization that considers their own and their community’s long-term health.
ASI Credit Union strives to move people up through the cycle of credit, to create pathways out of generational poverty, in its focus on Cooperative Principle 3.
Despite, a challenging economy and fast-changing environment, Elevations CU focuses on the longer term, using a rolling five-year plan and two facilitated board planning sessions per year. Its goal: developing and executing a well-defined strategy, rather than over-planning and under-executing a ‘perfect plan.’
Manitoba CU introduces new franchise branches unlike any other in the Canadian marketplace.
High-performing organizations use practical and measurable bottom-up planning processes for the benefit of their stakeholders
A Q&A with Communicating Arts CU President/CEO Hank Hubbard on his CU’s success strategies for serving inner city Detroit
Citadel Federal Credit Union uses Citadel Class ServiceSM to set itself apart in the marketplace.
This large CU keeps expenses low and products simple to provide low-cost, high-quality services to long-term members.
A strong strategic partnership takes into account the working knowledge, technical expertise, and operational understanding of a credit union’s executives and board members and marries it with ideal suppliers within the industry.
The Balanced Scorecard is a powerful tool CUs can use to define "what success looks like" in achieving strategic goals. Reflecting their responsibility for setting strategic direction for their CUs, boards need to exercise a leadership role in developing and using the Balanced Scorecard as a core element of their strategic plans.
The high-performing CUs profiled in this study were not always high-performers. Their success occurred when they stopped trying to be all things to all people and identified something they could be the best at. While their success seemed to happen overnight, the groundwork was laid years earlier. Maybe more than anything, the creation of a trust-based board/management relationship combined with the enhancement of board capacities for strategic leadership proved indispensable to making the transition to high performance.
Los Angeles Police Federal Credit Union uses a variety of tactics—including scorecards, consent agendas and other good governance practices—to ensure its board stays focused on its intended destination.