Is Strategic Planning Worth the Effort?
Strategic planning methods are as different and varied as there are credit unions.
Some credit unions invite the board in for a three-hour meeting to discuss possibilities for the future, keep the same objectives, bump financial goals incrementally, have lunch and call it a plan well done.
Strategic Planning in the Modern Economy
Survey your board and executive team about what they believe are the greatest challenges you are facing in the credit union. Ask them about member service concerns, financial concerns, issues dealing with the brand of the credit union, competitor shifts over the past year, and every credit union I know is focusing on increasing loan volume.