For many small and mid-sized credit unions, the temptation to manage complex projects in-house—or DIY—can be strong. Cost concerns, limited resources, and a desire to maintain control often drive this decision. However, the risks associated with DIY projects often outweigh the perceived savings. Establishing a Project Management Office (PMO) or leveraging external project management expertise…
Top Services Credit Unions Outsourced in 2024: Insights from O2 Consulting Group In 2024, credit unions across the country faced numerous challenges. To overcome them, many turned to external expertise to address their operational, strategic, and technological needs. O2 Consulting Group emerged as a trusted partner, helping credit unions achieve their goals through tailored solutions.…
Strategic Consulting Leads to Major Gains in Efficiency and Cost Savings BACKGROUND: Money One Federal Credit Union, headquartered in Largo, Maryland, is a trusted financial institution serving a diverse community of over 12,000 members. With assets totaling approximately $163 million, Money One has a strong presence in Maryland, offering a range of financial products 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…
We cannot overstate the importance of regularly analyzing existing people, processes, systems, and tools to achieve operational excellence. Particularly …
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…
The importance of strong project management in credit unions cannot be overstated, and a lot changed during the course of 2023. Here are 7 key evolutions that rocked credit unions’ project management world in 2023.
By Mark Arnold, On The Mark Strategies January is one of the best months of the year. Fresh starts. New goals. Yearly predictions. The challenge, of course, is that by February fresh starts stall, new goals miss, and predictions fail. But when it comes to marketing, you never want to see your credit union or community bank…