Shifting Strategies: Why Credit Unions Must Adapt to 2025’s Uncertainties As we enter 2025, credit unions are grappling with significant economic and regulatory uncertainties. Layoffs are impacting membership growth, fluctuating interest rates are creating financial instability, and the Consumer Financial Protection Bureau (Consumer Financial Protection Bureau (CFPB)) is tightening its oversight. The strategic plans that…
When it comes to naming a consulting firm, name choice carries significant weight. The name must encapsulate the essence, mission and vision of the company. For O2 Consulting Group, the decision to name the company after the chemical symbol for oxygen and to use a red origami bird for their logo was both deliberate and…
The mission of every credit union is to serve its members, establishing goals that continuously improve the member experience and drive the highest return on investment (ROI). To achieve this aim, myriad large and small steps must be identified, documented and executed. Strategic planning is the starting point from which the blueprint emanates for both…
Employee burnout can occur for a few reasons, both personal and professional. Still, credit union leaders are challenged to best address and relieve employee stress and frustration. Simply having employees take time off might alleviate a symptom, but time away doesn’t necessarily address the root cause nor provide a long-term solution. Look inward. Taking a…
How Money One FCU got its groove back Operational effectiveness is a term you may have heard around the office and wondered what the latest jargon was all about. Operational efficiency, however, is far more than jargon. It’s the type of culture credit unions, which were chartered to return as much as they can to…
Project management played a critical role in the success of credit unions in 2023 and will continue to do so in 2024. However, some credit unions are still questioning the need for project management and how to best implement a strategy that meets their specific needs. There are many things to consider when figuring out…
By RAECHEL DUPLAIN, PODIUM Consumers are less happy with their financial institution than they were last year. From 2021 to 2020, the number of members happy with their primary bank dropped from 86% to 78% while at least 12% reported that they were ready to change banks altogether in the next six months. During the pandemic, 10% of consumers did make the jump,…