Stop Wordsmithing & Start Deciding

Vision statements. Mission statements. Core values. Taglines. All of the above have two things in common: first, they are just words. And secondly, financial institutions spend far too much time haggling over them to get the meaning “just right.” Please note that by...

Stop Straddling Your Strategy

There are multiple traps and minefields when it comes to strategic planning. Focusing too much on tactics and not enough on strategy. Rushing through the planning process. Rehashing old issues. While those are common pitfalls, one of the major mistakes credit unions...

The Cost of Not Planning

In chatting with a financial institution CEO recently, they said they were going to cut doing a strategic planning session from their budget in the upcoming year. Why? The board felt they needed to control expenses and not doing a planning session (or using a...

Strategic Planning & The Empty Chair

Note: This piece originally appeared in CU Insight and CB Insight We’re in the fourth quarter of the year. The end of October and the start of November tend to mean one thing on the credit union and banking calendar: planning season. While some financial institutions...

The Daily Resolve of Strategic Planning

Strategic planning at most financial institutions is a yearly event. Normally during the third or fourth quarter executives and board members at credit unions and banks gather to discuss the upcoming year’s plans. Goals, budgets and action steps are outlined. Once...