Some credit unions schedule strategic planning sessions because their examiners require it. Some put strategic planning on the annual calendar because it means a nice visit to a destination location. Some do it solely because they always have.
None of these are good reasons for a credit union to do strategic planning. The reason strategic planning is important is that growing, complex credit unions in a dynamic and changing marketplace cannot afford to fly without instrumentation. One of the most important risks faced by successful credit unions is the strategic risk that can come by reacting to events as they unfold, rather than planning in advance to impact events and help shape how they unfold.
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