news.cuna.org/articles/118524-preparing-for-strategy-sessions
CUNA Strategic Planning Virtual Roundtable
Kevin Martin, senior vice president, organizational performance and strategic planning, at SchoolsFirst Federal Credit Union.

Preparing for strategy sessions

CUNA Strategic Planning Virtual Roundtable explores top trends affecting credit unions.

September 30, 2020

The 2020 CUNA Strategic Planning Virtual Roundtable explored trends leaders should consider as they prepare for their annual strategic planning sessions.

Roundtable sessions explored the employee experience, building an inclusive culture, collaborating on cybersecurity, and an economic update.

Here are some highlights.



Invest in the employee experience

Jeff Rendel, president of Rising Above Enterprises, says technology, physical environment, and culture are the top three drivers of the employee experience, and credit unions should look at ways to provide professional development and growth opportunities for employees.

 

 

Jeff Rendel

Jeff Rendel, president, Rising Above Enterprises.

“Where could we improve the employee experience at our credit union? Our goal as a credit union is to create a wonderful, outstanding employee experience,” he says. “We don’t know how well we produce that until we ask the hard questions.”

CUNA Environmental Scan

Rendel outlined several ways credit unions can provide professional growth and development training, and explained how investing in that training benefits the credit union.

Following the session, Todd Spiczenski, CUNA's chief products and services officer, led a live chat with Rendel and attendees.



Employee engagement a ‘strategic advantage’

When employees feel they belong, that their opinions and contributions matter, and that they’re safe, they’re more likely to be engaged team members, says Kevin Martin, senior vice president, organizational performance and strategic planning, at $21.6 billion asset SchoolsFirst Federal Credit Union in Santa Ana, Calif.

 

 

Jeff Rendel and Todd Spiczenski

From left, Jeff Rendel, president, Rising Above Enterprises, and Todd Spiczenski, CUNA's chief products and services officer.

“Engagement creates a strategic advantage for credit unions,” Martin says.

When credit unions combine diversity, equity, and inclusion efforts with an engaged workforce, leadership will also see improved member service, higher retention, better decision making, and enhanced strategic execution.

Martin offered five steps credit unions can take to build an inclusive culture.



Collaborate to combat cyber attacks

Hackers and cybercrooks are outperforming credit unions in one key area: They know how to work together.

 

 

Idrees Rafiq

Idrees Rafiq, vice president of information security and risk management consulting at Credit Union Resources, Inc.

“Adversaries collaborate and understand where to attack,” says Idrees Rafiq, vice president of information security and risk management consulting at Credit Union Resources Inc. “It’s important that we understand how to collaborate and combat these threats as an industry.”

Rafiq says there’s a lack of communication and collaboration among credit union information technology (IT) professionals regarding cybersecurity, but efforts could be improved merely by working together.

He shared four collaboration essentials to improve cybersecurity.



Expect a ‘Swoosh-shaped’ recovery

Economists now believe the economic recovery from the coronavirus (COVID-19) pandemic will be a “Nike Swoosh” shape featuring a sheer initial drop and gradual recovery.

 

 

Jordan van Rijn

Jordan van Rijn, CUNA senior economist

About 20 million jobs were lost during the pandemic. When half of the jobs were recovered quickly, many economists believed recovery would occur within one year.

But now that looks unlikely, says CUNA Senior Economist Jordan van Rijn, and it will take about three years to fully recover those jobs.

Visit CUNA News for more conference coverage. Learn more about the CUNA Strategic Planning Virtual Roundtable.