CUInsight Weekly Minute with Robbie Young – June 23, 2023
Our favorites from the week in sixty seconds.
Welcome to the CUInsight Minute, sixty seconds from our VP & Associate Publisher Robbie Young with our favorite reads from the week.
Mentioned:
Learning from the leaders: Insights on credit union growth
Part 2
Growth and flexibility are of utmost importance for credit unions in 2023. Seasoned leaders in the industry often have insights that can be extremely valuable for those organizations who need a little extra help. Cotribute’s initiative, “Healthy Growing Credit Unions in the Digital Era”, aims to collect and distill this information into actionable steps for credit unions. We connect with leaders with years of experience scaling operations, making strategic shifts, and thinking one step ahead.
Darius Wise took an unconventional path to his current role of CEO at Red Rocks Credit Union in Colorado. He grew up in Michigan, studied theology, and spent many years in vocational ministry before moving into the non-profit space. His leadership role at Upstream Impact in Colorado set the foundation for community work and service to those in need – a passion that he would carry over to the credit union world. Darius became familiar with the industry as Chief Impact Officer at Red Rocks, overseeing the team and continuing to expand on the mission of pouring back into the local community. [Read more]
The power of surrendering control
by JOY SMITH-DURANT, EAGLE FEDERAL CREDIT UNION
Let’s consider this scenario. You’ve been hired or appointed to be in a leadership position in your company; congratulations! You are excited, nervous, anxious, and questioning your abilities and many other emotions while trying to find your way. You’ve been in management positions, but this is different because you now lead the organization. So, you’re asking yourself, will I be effective enough to drive the organizational and strategic change the Board of Directors envisions for the next few years? How can I align my vision with the desires of the BoD? You speak with some of your mentors and peers who have been where you are, and they reassure you that the emotions that you are feeling are normal. They give you advice from their experiences to help calm your fears. So, you forge ahead.
Well, you’re now in the position and developing a rapport with the managers who lead the departments within the organization. You discuss the strategic goals, suggest ways to achieve those goals, get feedback from the managers on how the team can successfully implement those goals, and put in place accountability standards to ensure the goals are met while also giving some room for adjustments. [Read more]
Craft a robust credit union strategy in a changing landscape
by DAYNA JOHNSON SCHMITT, CUNA
Strategic planning season is fast approaching. A recent Credit Union National Association survey of CUNA Environmental Scan purchasers revealed that 50% of credit union leaders expect their strategic planning sessions to take place between August and October.
As these sessions play a crucial role in shaping the future direction of their credit unions, leaders must carefully consider what to incorporate into their discussions. With challenges and uncertainties we have faced this year – such as bank collapses and the potential for an economic recession – determining the most relevant and effective focus areas is critical to the success of credit unions.
By combining a future-oriented perspective with a clear understanding of current challenges and opportunities, credit unions can develop a robust strategic plan that not only addresses the uncertainties of 2023 but also lays the foundation for continued growth and success in the years to come. [Read more]
Don’t miss out on this free webinar, Best Practices for Your Credit Union in a Rising Rate Environment
