Strategic planning is such an informative, worthwhile and significant process. It allows a credit union to consider long term objectives, discuss the most pertinent trends, and establish goals and plans to further establish its place in its market. But, how might a credit union measure effective strategic success? What measures matter most and how should credit unions best gauge progress, impact and relevance toward strategy? Consider balancing your standard measures of success with those that are more strategic. This evenhanded approach helps to ensure value in the present and relevance for the future.

Standard Measures of Success

Though the list used by a credit union is typically short (a handful of standard measures), the register of options can be long. Decades of experience with hundreds of credit unions and their planning processes reveals that common and standard measures center around member growth, loan growth, profits, net worth or other contributions to bottom-line results.