MADISON, Wis. (11/17/15)--CUNA has released a new case study on Process Analysis and Optimization (PAO), a collaborative program between CUNA and FI Strategies LLC that helps credit unions recognize inefficiencies and take steps to correct them.
Titled “Optimizing efficiencies, one process at a time,” the case study tells the story of Moline, Ill.-based IH Mississippi Valley CU. Broken up by an inefficient “back-office vs. front-office” culture, the credit union used PAO to streamline its operations and create a more unified work environment.
During their two-year investment in PAO, CUNA and IH Mississippi Valley CU conducted six “think tank” sessions with staff members throughout the credit union and discovered various procedural inadequacies and areas of inefficiency. Changes made possible by PAO include:
“PAO fosters teamwork across the organization, gets staff involved in the cost/benefit analysis of our daily work and processes, builds leadership and enhances strategic direction,” said Brian Laufenberg, chief financial officer at IH Mississippi Valley CU.
To receive a complimentary copy of the case study, submit this information request form.