History and tradition can serve as great comforters. They can also serve as detriments to your bank or credit union strategic planning session. Far too many financial institutions simply go through the paces when it comes to strategic planning, assuming the same format, templates, language, etc. that have always worked will continue to work.
For growth-minded banks and credit unions, nothing is further from the truth.
By their very nature as conservative fiscal entities, most banks and credit unions struggle with change. Change when it comes to your strategic planning process, however, is almost always a good thing. Think of it like an annual family gathering, such as Thanksgiving. Sure, it’s terrific and heartwarming to have the same people and their growing families gather around the table every year. But for crying out loud, just once wouldn’t it be nice if people brought more than green bean casserole and a Tupperware container of gelatinous cranberry sauce?continue reading »