From the Archives: May 2013

2013 Strategic Planning Focus: ALM Analysis Will be Vital to Your Success 

A well-written strategic plan can have a synergistic effect on the internal operations of a credit union. The synergy that results from everyone’s combined efforts improves efficiency of operations, the use of resources, exploitation of opportunities and creates new paradigms of success. Our strategic planning experts have more than 25 years of experience and have participated in more than 200 strategic planning sessions throughout Michigan and across the country.  

How do I get started?
Many credit unions also have found it advantageous to conduct a pre-work survey prior to the strategic planning session. This survey can be sent to the board of directors and executive management team a few weeks prior to the planning session. In the survey, questions such as “what are the top five key issues for 2013?” or “what opportunities should the credit union evaluate over the next three years?” can be asked. After the answers are tabulated, it becomes very clear which strategies should be given top priority status and need to be dealt with first at the planning session.

What should our agenda include?
There is no perfect formula for the right agenda. Based on asset size, financial performance and other factors, one credit union’s agenda can be very different from another. However, best practices dictate that the following processes will generate good results in your strategic planning efforts:

What are key strategic planning priorities for 2013?
Most credit union experts agree that some of the top priorities and trends for 2013 and beyond include:

What will the examiners require in my strategic plan?
With the Fed indicating that it will not increase interest rates until possibly 2015, loans and investments will continue to re-price loan and investment yields to lower levels. Examiners will evaluate your ALM process to ensure that you’re preparing for possible interest rate risk and that you’re not increasing any one particular loan type and raising your concentration risk. Our business partners at Brick & Associates ALM can help you monitor and improve your ratios and budgets for continued success.

How can I best track our progress with our strategic plan?
Many will create a “Dashboard” which allows anyone on their team to quickly look at the current status of each goal at their leisure. This keeps key strategies, goals and tactics in the forefront so that they don’t get lost in the everyday fires of managing a credit union. Ultimately, these credit unions achieve more financial success, happier members and staff and accomplish more of their goals each year than their counterparts.”

For information regarding strategic planning, Brick ALM services, compliance consulting, training or field of membership expansion, contact Mike Moyes at (734) 793-1530, ext. 520, or

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