Strategic Board and Management Planning

The biggest question credit unions are facing with increasing competition, more complex regulatory requirements and a changing demographic is the question of “RELEVENCY”.  How does your credit union remain relevant in the face of these challenges?  Strategic Planning is where the board of directors and senior management must determine the answers and set the strategic direction for the credit union.

Level Five focuses on the board of directors to answer the question of relevancy and identifying “who” the credit union is and “why” the credit union exists.  The strategic planning process is an on-going journey that must be continually worked on, amended, revised and updated throughout the year.  It is not a once a year event.  Level Five’s strategic planning process is designed to be used as an integral part of the credit unions on-going planning, tied directly into the annual business plans and budgets.

Too many strategic planning sessions are focused on “tactical or business” planning.  They become an extension of the budget planning and have little to do with strategic planning.  Level Five’s strategic planning process is designed to target strategic issues that the board of directors needs to resolve and eventually articulate to the rest of the organization.

The characteristics of Level Five’s strategic planning process are:

  1. Inclusive as opposed to elitist
  2. Forward think as opposed to extrapolation of historical performance
  3. Inquisitive and exploring versus ritualistic
  4. Innovative versus simply expanding on current positions
  5. Challenging and demanding as opposed to simple and easy

For more information about Strategic Board and Management Planning contact Randy Tanaka at ext. 222.