CUES, DSI scenario report offers credit union leaders strategies to stay relevant, strong into the future
MADISON, WI (May 1, 2014) — Decision Strategies International, Inc. (DSI) and CUES recently released Scenarios for Credit Unions 2020: Striving to Stay Relevant in a Rapidly Changing World, a follow-up to 2015 Scenarios for Credit Unions in North America, published in 2009.
In developing the forward-thinking report, the DSI team pinpointed two critical industry uncertainties—the strength of the North American credit union system, and the future of the financial services landscape, which focuses on the emerging traditional and non-traditional players credit unions may face in 2020. Then, additional industry uncertainties were explored within each scenario by asking a variety of “what ifs?” and projecting forward to determine possible outcomes. Each scenario offers distinctive risks, and opportunities for credit unions with the right strategies to capitalize on them.
“The world is rapidly changing for credit unions. New technologies are reshaping financial services. New competitors are disrupting established models. Consumer needs and expectations are shifting. Credit unions, therefore, must think strategically about how to leverage these changes and position themselves – and the system as a whole – to succeed in the future. The 2020 scenarios distill the issues that should be on every credit union leader’s radar, and provide the tools to develop more resilient strategies,” said Nicole Adams Kraus, Principal, DSI.
“By examining the array of future scenarios outlined in this report, and talking them through with their executive team, credit union leaders can prepare for—and stay ahead of—the multitude of changes transforming credit unions and their business environment,” said Chuck Fagan, CUES’ president/CEO.
“Scenarios are a critical starting point for strategy development. With change as the new normal, tools like scenarios help individuals and organizations become more strategic, adaptive and forward looking in their planning. This ultimately benefits the member, as credit unions will be better positioned to deliver against current and emerging needs,” said Adams Kraus.
The results of this study are based on insights culled from more than 300 CUES members and external experts. “This is the fourth scenario report we’ve developed in conjunction with DSI, and we’re pleased to have had their strong partnership in place to help fortify the future of the movement,” said Fagan.
The new report was studied in depth at CUES’ renowned CEO Institute, a rigorous academic and leadership program for credit union executives held at three of the nation’s most respected business schools. Registration is now open for the summer session of CEO Institute I: Strategic Planning, August 17-22, 2014, at The Wharton School, University of Pennsylvania, Philadelphia. Visit cues.org/ceoinstitute for more information.
CUES members can download Scenarios for Credit Unions 2020: Striving to Stay Relevant in a Rapidly Changing World in its entirety, and non-members can access the executive summary, at cues.org/scenarios2020.
CUES is a Madison, Wisconsin-based, independent, not-for-profit, international membership association for credit union executives. Its mission is to educate and develop credit union CEOs, directors and future leaders.