CUInsight Minute with Alyssa Angurio – May 20, 2022

Our favorites from the week in sixty seconds.

Welcome to the CUInsight Minute, sixty seconds from our Community and Marketing Coordinator Alyssa Angurio with our favorite reads from the week.

Mentioned:

Succession planning leads to success
by CARLYN ROY, HUMANIDEI
Since joining the Humanidei team in my role as Executive Development Partner just a few months ago, I have had countless conversations with credit union professionals about the future leadership of their credit unions. These conversations happen with smaller asset-sized credit unions, and with large and mid-sized credit unions, too. It is clear the issue I hear about most often has an impact on credit unions of all sizes. Whether this is in reference to someone ready to become the next CEO or it is about an individual wishing to take their first step into the C-suite, the concern over lack of internal talent is strong. Over and over, I hear, “There is no one internally who can fill this role. There is nobody here who is ready for the next step.”

Why is that? Why is an organization in a position where there are no employees who know what it takes to lead the organization? While there are many varying responses, I have arrived at one conclusion: It is not a priority. [read more]

Utilizing supplemental data to sustain member engagement
KRISTINE ZICCARDI, MARQUIS
The challenges presented to credit unions in the effort to grow and retain member relationships are significant. Consider these stats:

  • About 79% of consumers consider their financial institution as transactional. They don’t see it as relational.
  • For every 1 loan credit unions have, 46 loans exist with another provider.
  • The majority of a credit union’s members utilize just 1-2 products with them.

And, with six financial institutions within a 10-minute drive and many more operating virtually, competition for members’ business is fierce.

Member data is key to solidifying relationships.

Competing in today’s environment can be daunting. Top that off with the fact that, now more than ever, the expectation of consumers is that businesses understand their needs and know their preferences. This is key to growth and retention. To truly create an engaged member, credit unions need to understand these things and strategize accordingly. [read more]

CUInsight Mini-Con: CHANGE
Change is constant, and leading ourselves, our teams and our organizations effectively through change has never been more important or more challenging. Highly regarded speaker and trainer Lucas Tindell (Corporate Trainer, Executive Coach and Host of aLive Video Podcast) will share insights into how we can all maximize our effectiveness in dealing with, and leading through change. [read more]

Alyssa Angurio

Alyssa Angurio

Alyssa Angurio is the Community & Marketing Coordinator at CUInsight.com, the leading digital trade publication serving credit unions. Alyssa oversees the valued Community of thought leaders and industry experts who ... Web: https://www.cuinsight.com Details