CU*Answers CEO Strategies CEO School

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CU*Answers CEO Strategies CEO School

  1. 1. CEO School Where everyone’s a teacher, and everyone’s a student CU*Answers CEO Strategies Week November 26-30, 2007
  2. 2. Today’s Topics CU*BASE Tools You Should Be Familiar With – Member Data 2008: What a CEO Should Know – Leading Meetings 2008: Tools for a CEO Strategies Where CU*Answers is Actively Working...Are You? – Driving the Buzz With Your Membership: Member Reach 2008 – Understanding Service Income 2008 – Networking Credit Unions for Growth – Working Under the Best Contracts Wrap-Up – 2007 Releases: A Goldmine for Your 2008 Business Plan – Leading Change: What to Be Ready For in 2008 2
  3. 3. Member Data 2008: What a CEO Should Know CU*BASE Tools You Should Be Familiar With
  4. 4. Member Data What a CEO Should Know Databases: Places to look for answers about how your credit union interacts with your members and staff More than 20 menu options that might get you thinking about what you and your teams really know about your operation Learn to look for trends, push your team for answers, and challenge yourself to create a more curious culture that is at the core of constant innovation Tip for data junkies: MNQURY #2 “Search for Files and Fields” 4
  5. 5. Leading Meetings Tools for a CEO The following slides will give you insight into data and menu options on CU*BASE They should also get you thinking about how you could use these features to present to your team, your Board, and maybe even your members, to give them a sense of where you are, where you might be going, and some interesting facts to brainstorm around 5
  6. 6. Leading Meetings Tools for a CEO Working with internal teams – Cooperation – Competition – Curiosity Working with credit union Boards – Demonstrate grasp – Demonstrate insight for innovation – Demonstrate accountability Asking the right questions can change behavior and results...a new CEO tickler program 6
  7. 7. Let’s try this again... “CEO Tickler” Program Asking the right questions can lead to change – Create accountability – Make sure people know you are interested in what they do What if every month or two you got a list of questions you could ask your teams... Can you give me three reasons why Is there an employee a member would How many loan in your department take our new applications did we that I should checking account average per week for consider for leader over our the last 12 weeks? of the quarter? competition? Which week did we do Did member email the best? How many new platinum address volumes members did we go up last month? add since January? 7
  8. 8. Member Data What a CEO Should Know Trending Member Money Loan/Share Trial Balance Review MNMGMT #8 Trial Balance G/L Verification MNGELE #11 MNMGMT #8 > G/L Average Daily Balance Calculator F9-ADB Calc Tip for spreadsheet junkies: MNGELE #16 “Print CU Financials” 8
  9. 9. Member Data What a CEO Should Know Internal Controls Trial Balance G/L Verification MNGELE #11 Vault G/L Verification MNGELE #12 Smart Operator: Daily Ops Log MNGELE #9 Statement Audit/Statistical Inquiry Inquiry/Phone Coming Soon! Coming in 2008 for auditing junkies: MNAUDT “Auditing Functions Menu” 9
  10. 10. Member Data What a CEO Should Know Benchmarking Activity Smart Operator: Daily Ops Log MNGELE #9 Processing Summary Statistics MNMGMT #25 Cash Activity Analysis Inquiry MNHTLA #16 Configuring Delivery Channel/Costs MNMGMA #21 MNLOAN #8 > Loan App Activity Tracking F17-Activity tracking 10
  11. 11. Member Data What a CEO Should Know Understanding Member Activity Transaction Count by Delivery Channel MNMGMA #2 Transaction Activity by Branch MNMGMA #3 Money Movement Analysis MNMGMA #18 Teller Activity by Time of Day MNHTLA #1 Teller Activity by Day of the Week MNHTLA #2 Teller Activity by Day of the Month MNHTLA #3 Teller Activity by Transaction Type MNHTLA #4 Smart Operator: Daily Ops Log MNGELE #9 11
  12. 12. Member Data What a CEO Should Know Understanding Member Preferences Member Transaction Label Analysis MNMGMA #4 Where Your Members Shop MNMGMA #5 Where Your Members Borrow MNMGMA #6 Where Your Members Branch MNMGMA #7 Tip for trending junkies: Transaction Activity Label (Inquiry/Phone) – file MAMBINF 12
  13. 13. Member Data What a CEO Should Know Understanding Your Membership Channel Activity by Member Age Group MNMGMA #1 Open/Active/Closed Members by Age MNMGMA #17 Group Products & Services Per Member MNMGMA #19 Membership Analysis Inquiry MNMRKT #22 Tiered Service Monthly Comparison MNMRKT #25 Slice and dice your membership Coming! 13
  14. 14. Member Data What a CEO Should Know Auditing and Mining the Activity of Members Sample Checking Account Activity MNMGMA #11 Sample Transaction Activity by Delivery MNMGMA #12 Channel Update Dormancy MNUPDA #9 Smart Operator: Daily Ops Log MNGELE #9 Statement Audit/Statistical Inquiry Inquiry/Phone 14
  15. 15. What are your favorites? You should have security to access the following: – MNMGMT (all options) – MNGELE (#9, #11-12) – MNMGMA (all options) – MNQURY (all options) – MNHTLA (all options) – MNQRY2 (all options) – MNMRKT (#16-25) – MNUPDA (#9) – MNLOAN (#8) You should have at least these menus in your favorites: 15
  16. 16. Strategies Where CU*Answers is Actively Working...Are You? Driving the Buzz With Your Membership: Member Reach 2008 Understanding Service Income 2008 Networking Credit Unions for Growth Working Under the Best Contracts
  17. 17. Driving the Buzz With Your Membership Member Reach 2008 What do recent enhancements to Member Reach and Member Connect tools mean to your CU? – Talking Points – Copying Marketing Tips/Procedures – ASAP / Exports from CU*BASE Tools – Online Banking/Email Message Library – CU*Blitz – Partners in Practice collaborative marketing/contests Does the fact that you have no clear ROI analysis for something keep you from doing what you know to be the right thing to do? (ROI Paralysis) Does it “pay” to smile? Does it pay to create a buzz with your members? 17
  18. 18. Driving the Buzz With Your Membership An Organizational Strategy, Not a Face-to-Face Burden Direct Sales Response Version 2 Member Connect Activities Driving the Buzz A.S.A.P. Analysis and Opportunity Identification Direct Sales with Cross Sales/Information Gathering 18
  19. 19. Understanding Service Income Update on What We Kicked Off at Last Year’s Event Current Service Income Projects – New Fee Income Analysis inquiry – Inventory of service income types (there are 18 with built-in fee waivers) – Standardize fee waiver routines How far should we take it, and what does the shift from balance sheet to the transactional business mean to your credit union strategy? Working cost of transactions, transaction labels, and seeing 90+ days of activity... Tip for marketing junkies: has it changed anything? Understand Reward Checking before you jump Coming soon: A relationship with BankVue 19
  20. 20. Carrot or Stick? What are you doing to relate to members looking for a good deal today? The person searching for rewards, the person who pushes back against the stick CU*Answers has developed http://redtape.msnbc.com reward strategies...no CU has maximized these to date We used to joke about behavioral modification fees...do they still work? Do they inspire a growing audience or just defeat a shrinking membership? 20
  21. 21. Networking Credit Unions for Growth What is multi-corp processing? How can a CEO use it in thinking about strategy in 2008 and beyond? – Method 1: Borrow from the Service Bureau concept (shared branching) – Method 2: Multi-corporation tools embedded in CU*BASE (combined member database) What is the future of multi-corp processing now that we have working projects? How do we see options for combining credit unions? Coming soon: Privacy 2010 A project focusing on shared processes with multiple partners 21
  22. 22. Networking Credit Unions for Growth Designing Shared Resource Efforts – How can credit unions use CU*Answers and Xtend templates to build businesses of their own? – Coming in 2008: Xtension Call Center and internal auditing support (AUDIT-LINK) – Expanding SRS 5300 initiative and ALM processing From this year’s CEO Collaboration Workshop... 22
  23. 23. Working Under the Best Contracts Understanding what vendor consolidation means and does not mean to a credit union who is paying attention to the contingencies in changing relationships with a changing vendor marketplace – Assignment – Cancellation clauses – Anxiety about CU*Answers selling out As CEOs, what pressures are you under when it comes to third-party contracts? What can CU*Answers do to make our contracts a competitive advantage for our CUSO and a non-issue for you? 23
  24. 24. Wrap-Up 2007 Releases: A Goldmine for Your 2008 Business Plan Leading Change: What to Be Ready For in 2008
  25. 25. 10 Years of Releases A Goldmine for Your 2008 Business Plan New Stuff Just in 2007 – Trackers – eDocuments Phase 1: eReceipts & Photo ID Capture – Prime Alliance interface – Exporting Financial Statements to Excel – HSAs – Talking Points library – Member Connect Message Library – Enhancements to Tiered Service pop-up window (Inquiry/Phone) 25
  26. 26. Leading Change What to Be Ready For in 2008 It’s Me 247 Online Banking – It’s only the beginning; a new engine means a future rich in possibilities CU*BASE Platinum – It’s more than looks and good feelings, it is a must... can you sell it to your team? Coming soon: Online Course CNV 101 Leading Change: Conversion Preparation for CU Management 26
  27. 27. Leading Change What to Be Ready For in 2008 The value of an active collaborative mindset – Turning good intentions into competitive advantages for both your credit union and your career Other projects to be aware of – Sunset for Microfiche as of March 31, 2008 – Cisco Router Upgrades • 90 CUs pre-purchased upgraded routers in anticipation of April 26 sunset • 147 routers (approx. $465,000) Coming soon: Online Course CNV 101 Leading Change: Conversion Preparation for CU Management 27
  28. 28. The Value of Peers Past, Present, and Future Last week I turned 49...and like many leaders of my age, I feel a little trapped between the skills I learned from the generation before me, the skills I continue to refine in the present, and the skills I know I will need in the future How important is data to your future? How important is understanding a networked world? How important is it to be ready to show that you have a grasp in meetings? How important is it that you are linked in to innovators? Are you ready to be relevant to tomorrow’s requirements for leadership? I will work another 15-20 years, and I hope to lead for all of them...for that dream to come true, I need peers like you to help me hone my skills – and I hope you see it the same way Thanks for the day! 28

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