Four kinds of credit unions need a strategic planning session right now. Are you one of them?
What is one of the scariest things you face as a leader? You can probably rattle off at least 50 specific fears, but I bet this one is near the top of your list:
You’re afraid of making the wrong decision.
Do we hire or fire this person? Do we add a service or remove a product? Do we build a new branch or shut down an old one? Do we merge or compete?
Whatever choice you’re facing, the only thing worse than making the wrong decision is not deciding at all. More than any other obstacle, indecision is what keeps many credit unions from moving forward and succeeding. Whether you’re a new CEO who wants to avoid making waves, a legacy CEO just trying to hang on for a few more years, or a leader paralyzed by a general fear of failure, the unwillingness to make important decisions is slowly killing your credit union.
Over the past few years, we’ve provided strategic direction that has helped a variety of credit unions get unstuck and gain the perspective required to make quality decisions. Here is a brief description of the four main types of credit unions we’ve worked with: