MADISON, Wis. (5/30/14)--Once an annual fall event, strategic planning sessions now occur throughout the year as credit unions re-evaluate and address challenges as they crop up. The Credit Union National Association just released its annual research and analysis publication--2014-2015 CUNA Environmental Scan--that provides information and insights to help credit unions in these endeavors.
"The nature of strategic planning is to make the tough decisions to drive positive business outcomes," said Doug Benzine, CUNA vice president of publishing and strategic resources. "We prepare the E-Scan report each year in user-friendly formats to make sure credit unions have the reliable data and valuable insights they need to make those tough decisions and plan with confidence."
E-Scan's introduction notes that growth is the No. 1 priority for 72% of credit unions, but it will be more difficult due to competition and an ever-changing environment.
Chapters cover marketing and business development; human resources; economics, finance and lending; compliance and legislation; political advocacy; and technology and payments (See News Now May 23: Real-time transactions disrupt payments systems: E-Scan).
Additionally, the report identified trends for credit unions to be aware of mobile payments and banking, Europay-MasterCard-Visa card migration, lending, operating ratios, lower fee and non-interest income, and interest-rate risk.
The E-Scan app will be included with purchases of the E-Scan report, which is available in print, eBook and PDF formats.