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Credit unions face unique challenges to stay competitive and relevant in today’s constantly evolving financial marketplace. Among those challenges is sinking into the deep, dark abyss of what is commonly referred to as the “strategic black hole” – the tendency of organizations to become so consumed by day-to-day operations and short-term objectives that they lose sight of their long-term strategic direction.

To avoid the “strategic blackhole,” credit unions should consider allocating resources dedicated solely to strategic planning, so they can stay ahead of their competitors and meet the ever-changing needs of their members.

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