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July 15, 2013
Neighbors Federal Credit Union
This article highlights the confusion between tactical initiatives and strategy. The highlighted initiatives undertaken by Neighbors are tactical in nature, but Neighbors' Strategy is not discernable. The list of initiatives - more loans, high dollar loans, faster processing time, better core system, improved operating efficiency - might be appropriate, but nothing in the article indicates how Neighbors is going to differentiate against the CUs, Banks and non-Bank competitors. The Value Proposition for Neighbor's (current and prospective) members is unclear... it isn't clear that there is a uniting set of strategies and metrics that bound all of the various initiatives... perhaps this explains why the staff is so involved in setting performance benchmarks (which ought to be established before initiating a project). I welcome CreditUnions.com, Neighbors CU and others to attend a free webinar that will discuss what Business Strategy really is, and its importance to Credit Unions (https://attendee.gotowebinar.com/register/9091012079360686848)
Serge Milman - Optirate
The Secret Legal Opinions Behind Public ...
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