After holding planning session, do something

Many credit unions take time out once a year to gather volunteer leadership and management staff together to take stock of where they are, evaluate past accomplishments, and most importantly, to plan for their credit union's future. Some of these planning sessions are rather elaborate affairs, held on weekends at upscale venues, with a full schedule of work and play time. Some are bare bones get togethers that are held in the evening in credit union meeting rooms following a soup and sandwich meal. Many utilize an impartial, outside facilitator. Others count on the credit union chairman or CEO to run the meeting. The second approach usually doesn't work well. For one thing, there is the possibility the meeting will become just another board meeting. Regardless of how they go about it, however, credit unions that conduct formal planning sessions have in common a general goal of developing a roadmap for the credit union on which policymakers and staff can agree. Also, to set some rather specific objectives in terms of key CU numbers and timetables by which those numbers can be expected to be achieved. The planning meeting should not, however, be considered and end in itself. The best outcome from any credit union planning meeting would be to use the meeting as a springboard for agreement on an action plan. In other words, to come away from the planning session determined to build on it by doing something new and different. The worst case scenario is if the group goes back home to take up business as usual. Here are some ideas that a credit union's official family (board and staff) might put on their "go-home-and-consider-doing" list following their annual planning meeting: * Investigate changing the name of the credit union. Seek a name that more accurately reflects the current and future membership of the credit union. Consider a name that is more memorable, one that more accurately reflects the correct image of the CU, and one that gives the credit union a competitive edge. * Review your credit union's "membership qualifications" (not your "field of membership" or "common bond."). Who is eligible to join? Who should be? Is the credit union really taking care of those who need the credit union's services? Is it serving those whom the CU wants to serve to assure continued prosperity for the credit union? * Consider a merger for the benefit of the members of both credit unions involved. Look at the economies of scale issues. Consider member convenience issues. Chances are, if your credit union isn't looking at another credit union as a possible merger partner, there is another credit union looking at yours with similar designs, no matter the size. * Examine your credit union's board and committee structure. Do both still make sense in light of the strategic direction in which your credit union is headed? Do they still provide a good fit with your credit union's long-term goals, short-term objectives, and list of top priorities? Do they still make possible an effective decision-making process? * Examine the credit union's staff structure and ask the same questions. Also ask if some positions should be eliminated? New ones added? Is the Peter Principle alive and well? * If it wasn't done at the planning session, establish a short list of CU priorities ASAP afterwards. Boil down everything your credit union does or wants to do into no more than 8-10 priorities. Keep them very general. (Caution: here is where it is especially important to remember that the credit union's policymakers should deal only with the "What" and leave the details, the "How," to the staff.) * Determine if your credit union's mission statement still makes sense. Does it reflect the new competitive environment? Does it address increased member demand for more convenient delivery systems? And alternative investment products? * Evaluate whether or not your members want everything on your P&S laundry list? Based on usage levels? Is it time to eliminate some? Add some? Ask them. * Step back and evaluate the perception others not as close to the CU may have of your credit union. What image does your credit union portray? What image do you think it portrays? What image do you want it to portray? Would you be impressed as a brand new member walking into the credit union for the first time? * Analyze your board meetings. Does the time, place, format, agenda, timeframe, and purpose, still make sense? When is the last time the subject was even discussed? * Study the credit union's charter. Does it still make sense in light of what members want and what you are allowed to provide to them? What type of charter is best for members? State? Federal? Community? Thrift? Finally, both during and after the planning meeting, ask a couple of general questions that will probably lead to an obvious need to do something. Such as, where does your credit union fall short? And what could be done to make it better? Or ask what it is that you are most proud of at your credit union? Ask what can other credit unions learn from yours? Ask what can you learn from them? Answers to questions like these can lead to valuable additions to an action plan which in turn will give the credit union plenty to discuss at the next planning session. After planning sessions, credit unions often fall into the trap of not looking beyond their own little credit union world and thus lull themselves into a Pollyanna feeling that all is well and couldn't get better. But members won't hesitate to look beyond the credit union to have their changing needs met. Credit union planning meetings can be made more valuable if they result in the credit union leadership leaving them committed to doing something new and different that benefits the membership. Comments? Call 1-800-345-9936, Ext. 15, or Fax 561-683-8514, or E-mail mwelch@cutimes.com.