CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Jobs
  • Contact

News

Home » PODCAST: Be a future-focused board
Directors Management

PODCAST: Be a future-focused board

Focus your strategy around multiyear growth plans, Jeff Rendel advises.

March 22, 2018
No Comments
Jeff Rendel

Jeff Rendel likes to joke that “if you’ve seen one credit union, you’ve seen one credit union.”

But while every institution is unique, the strategy and leadership consultant has identified some universal truths about strategic planning through his daily communication with credit union leaders and the more than 100 days a year he spends on the road.

The foremost is that credit union boards must keep their focus on the future and the big picture, giving credit union staff latitude to create their own path to achieve the goals directors establish.

“What's most important on the strategic side is, where do your members need your credit union to go?” Rendel says in a replay of the CUNA News Podcast. “What do we need to be thinking about and investing in and considering for the next three to five years of serving our members, versus how do we grow from 2.1 products and services per member to 2.2? What are we doing to prepare for growth five years from today?”

As credit unions enter the strategic planning season for the coming year, Rendel stresses the need for open, fluid conversations between the board and senior management. And, drawing a parallel from his early days in community banking, Rendel reminds directors to approach this responsibility mindful of their fiduciary responsibility toward members.

“I look at credit union members as investors. They are the owners of the institution,” says Rendel.

“When we look at our members as investors it tells us these are the folks who have risked their capital—maybe it's $500, maybe it's $50,000—and are expecting a return,” he adds. “That return might be services, it might be more well-priced products and services, it could be patronage dividends, or a combination of all that. They expect a return on their investment because they have choices in financial services.”

You can listen and subscribe to the CUNA News Podcast in Apple's iTunes Store, Google Play, and Stitcher Radio.

KEYWORDS board CUNA Management School strategy

Post a comment to this article

Report Abusive Comment

Credit Union Magazine: Winter 2022

Winter 2022

Credit Union Magazine’s Winter 2022 issue highlights data-driven marketing, the board’s role in cybersecurity, elder abuse scams, credit unions’ auto lending advantage, and more.
Digital Edition •  Subscribe

Trending

  • CFPB issues CUNA-opposed proposal on credit card late fees

  • Celebrating the legacy of Black leaders

  • Auto lending report shows significant credit union member savings

Tweets by CUNA_News

Polls

Vote for the 2023 CU Hero of the Year

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2023 Credit Union National Association | ADA Compliance Notice & Legal
Email Us