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Building a Better Credit Union Strategic Planning Process

Updated on September 25, 2015

2015 is quickly drawing to a close and now is the time to begin the strategic planning process for the coming year. Since this is such a crucial area when it comes to building better relationships with the clients of a credit union, it is something that a great deal of time should be spent considering. Throughout the process, be sure to consider the following three areas.

Member Experience

Enhancing member experience has been something that has been at the forefront of the minds of executives for several years now. One way to accomplish this is by discovering exactly what clients are looking for. Developing relationships with clients is a great way to learn this information, but so is customer feedback programs.

To make it easier on your clients when it comes to giving feedback, make sure that they can easily access feedback sections from your website. Having monthly drawings or contests for those who leave feedback may also be a great way to encourage client participation.

Consider Mobile Services

Technology changes seem to surface on a month to month basis. However, many of these changes have offered a unique way for members to handle financial transactions. Just a couple of the items that you may want to consider are mobile branch checking or appointment scheduling. This will allow clients to have better control over the time that they spend inside the credit union

Keep in mind that learning new technology can be challenging for both employees and clients. One way to make these types of additions easier is to hold in person training opportunities or demonstrations for both members and employees to learn the best ways to utilize the new technology.

Adapt to New Habits

The way that members interact with their credit unions has greatly changed over the course of the past decade. Today, online channels are being utilized more and more, which means that credit unions must be forward thinking in their strategic planning practices.

Be sure to consider your credit union's online presence. Are clients able to receive the information that they need when they need it the most? One idea to ensure that this is the case is to offer video meetings for customers. With this system, clients will always have access to the specialist that they need even when they are not physically at the credit union.

Naturally, the work of an executive when it comes to strategic planning is never quite finished. Instead, this is more of a living plan that indicates the direction that you wish to take for the future. By focusing on these key areas, you will be certain that your strategic plan is ready for the next year and continues to help you grow your member base.


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