Madison, Wis. (November 18, 2015) – Credit Union National Association released a new case study on Process Analysis & 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 Illinois-based IH Mississippi Valley CU. Broken up by an inefficient “back-office vs. front-office” culture, the credit union utilized CUNA Process Analysis & Optimization (PAO) to streamline their 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 for the credit union made possible by PAO include:
“PAO fosters teamwork from across the organization; gets staff involved in the cost/benefit analysis of our daily work and processes; builds leadership and enhances strategic direction,” says Brian Laufenberg, CFO at IH Mississippi Valley CU.