Search
 
Commentary

How to Anticipate Changes and Adapt Financial Plans

Todays credit unions must re-evaluate their financial management processes with the goal of creating a stronger link between finance strategy and execution.

By Ken Levey | Updated on June 08, 2014
Regulatory pressures are forcing credit unions to operate under tighter margins and to reduce cost structures, all while striving to continue to deliver competitive, high quality products and superior customer service to their members.

These pressures require credit union finance teams to utilize more agile processes to analyze and manage balance sheet composition, as well as how they evaluate the impact of operational risk on the institution.

To meet these new demands, today’s credit unions must re-evaluate their financial management processes with the goal of creating a stronger link between finance strategy and execution. Finance must lead the charge to effectively define, communicate and align the entire institution around truly transformational activities. To enable this linkage between finance strategy and execution, credit unions must support three areas of strategic planning: strategy formulation, strategy alignment and performance monitoring.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.