**Originally posted on CU Insight – 11/30/12.
It’s inevitable – at some point in the next few weeks your credit union’s management team will be deciding what the top priorities will be in 2013. Many credit unions have already identified their priorities as part of this year’s strategic planning sessions and are now tasked with identifying the specific tactics that will be used to reach the goals that have been set. Of course, every credit union is different and has its own unique goals. That being the case, I wanted to identify some common priorities that were identified in several planning sessions that I facilitated this Fall. Here they are, in no particular order:
Increase Loan Volume – a no-brainer, really. Loans create interest income, deeper relationships with members, and a greater sense of trust between credit union and member.
Create More Awareness – too many credit unions still consider themselves the “best kept secrets.” It’s time to let the proverbial cat out of the bag, folks. The marketplace is simply too competitive to keep things to yourself. Tell everyone with a pulse who you are and what you can do for them. Credit unions are not in the business of espionage so stop keeping secrets. Open your mouths wide and loud. Increase your marketing budgets; hire passionate and outgoing business development professionals; and get the word out!
Staff Training – music to my ears!! Thankfully, more credit unions are realizing how important it is to provide professional development opportunities for their staff members. This is especially true and relevant for the young professionals that your credit unions need to attract and retain. Staff training has to go beyond products and services. You need to talk about motivation, goal-setting, attitude, sales & service, and more.
Technology – again, a no-brainer. Members are looking for the latest and greatest technology. Credit unions need to keep up with the ever-changing marketplace. Use social media, digital marketing, look into mobile banking if you haven’t already, and get serious about remote deposit capture. Mobile matters – it’s that simple.
Contribute to this discussion by commenting on this post – let us know about your credit union’s priorities for 2013.