CU Solutions Group Launches New Video Series
In January, CU Solutions Group (CUSG) launched a new video series called CUSG CEO Connect. This monthly series features CUSG and MCUL CEO Dave Adams and helps educate credit unions on key topics in technology, marketing and performance.
CUSG CEO Dave Adams Delivers New Mobile Banking Insights
In the first video, Adams discusses new mobile banking insights, like CUSG’s LifeSteps Wallet, and the importance of avoiding “marketing myopia” by focusing on consumers rather than products. He says credit unions must be revolutionary in mobile banking by giving members what they want or are already using, like peer to peer payment options such as PayPal and Venmo.
Adams identifies two main challenges faced by credit unions when it comes to mobile banking: 1) differentiating their mobile banking products so members will appreciate and be “wowed” by them, and 2) identifying and serving member needs.
He also discusses eight key takeaways from a 2017 study by the Federal Reserve regarding mobile banking:
- Standardization makes mobile banking a commodity
- Mobile apps should educate and inform in addition to enabling transfers
- Security and education go hand in hand
- It’s not easy being small
- Payment speed matters
- Comprehensive mobile strategies are a necessity
- Marketing and education intersect
Learn more about mobile banking innovation, LifeSteps Wallet and how to avoid “marketing myopia” by watching the full video here:
CUSG CEO Dave Adams: Do Strategic Plans Really Matter?
In the latest episode of CUSG CEO Connect, Adams focuses on the importance of strategic planning for HR performance solutions. He says plans should fit the personality of the CEO, which means they come in all shapes, sizes and organizational structures. The key is having a method that helps people stay accountable and organizes information in a way that makes sense.
Adams breaks down the 10 guidelines he says are important to consider when developing a strategic plan:
- The plan must be CEO-driven and board validated
- Start with “why” and communicate it often
- Establish and institutionalize guidepost/value statements
- Use a matrix approach to simplify your plan visually
- Empower unique managerial styles in the more detailed plan elements
- Use Key Performance Metrics judiciously and make them relevant
- Stay entrepreneurial by focusing on reinventing and stay nimble
- Communicate reporting expectations clearly and often
- Don’t expect a planning lovefest – accountability usually isn’t fun
- Find the right planning tools to help create and monitor priorities
Adams reiterates the importance of communication and personalized organization frequently throughout the video. He also highlights CUSG’s cloud-based PerformancePro software product as a useful tool to help credit unions create and track their strategic plan.
Learn more about strategic planning and PerformancePro by watching the full video here:
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