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Nimble and Quick

  • 1.  Nimble and Quick

    Posted Jan 29, 2020 12:21 PM
    Credit unions are re-evaluating their strategies and plans on a much more frequent basis than in the past.  Being a fast and agile organization can be a better recipe for success than just being big.

    How often does your credit union as a whole or individual departments evaluate strategies and plans during the year to maintain alignment while following fast?

    To stay on top of what strategic areas progressive credit unions are prioritizing, see CUES  Strategy | CU Management

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    [Russell] [Evans]
    [VP Member Relations & Sales - Northeast]
    [CUES]
    [Madison] [WI]
    [53711]
    [russelle@cues.org]
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  • 2.  RE: Nimble and Quick

    Posted Feb 19, 2020 07:23 AM
    We maintain operational rhythm, monthly we meet once to talk about things needed to run the business and once a month we meet to discuss things to change our business. On a quarterly basis we do business reviews. Our credit union follows the Baldrige framework which helps to define these processes.

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    James Stock
    Chief Technology Officer
    USF FCU
    Tampa FL
    813.569.2000
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  • 3.  RE: Nimble and Quick

    Posted Mar 05, 2020 02:54 PM
    That is a sound approach James, thanks for sharing.  How is journey mapping used at your credit union to smooth out cumbersome processes or to prepare for new initiatives and are cross functional teams with staff from various levels included?

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    [Russell] [Evans]
    [VP Member Relations & Sales - Northeast]
    [CUES]
    [Madison] [WI]
    [53711]
    [russelle@cues.org]
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  • 4.  RE: Nimble and Quick

    Posted Mar 09, 2020 01:35 PM
    As part of the operational rhythm we look at processes that need to be streamlined, and once identified, we map them out using IBM's Blueworks (and as you can imagine, several other process evaluation tools). We have found several major gains by reducing bottlenecks in our lending processes that have paid major dividends.

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    James Stock
    Chief Technology Officer
    USF FCU
    Tampa FL
    813.569.2000
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  • 5.  RE: Nimble and Quick

    Posted Mar 12, 2020 08:54 AM
    Hi James,

    I am glad to hear you have seen impactful results from your approach.  I am curious, are there mechanisms in place so staff from any level can share what processes could use streamlining or is there a channel or chain of command those ideas/suggestions need to follow.  I was also reading an article that said many business leaders focus more on "farming" (repeating what has led to past positive results) vs. "hunting" (challenging, questioning and being curious enough to disrupt what is being done now that could hold their organization back from reaching new heights).  How do you guide your credit union leadership to spend the time needed to hunt versus improving their "farming" processes.  Ideally both need to happen but perhaps for most a better balance between the two activities would be valuable.

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    [Russell] [Evans]
    [VP Member Relations & Sales - Northeast]
    [CUES]
    [Madison] [WI]
    [53711]
    [russelle@cues.org]
    ------------------------------



  • 6.  RE: Nimble and Quick

    Posted Mar 12, 2020 11:49 AM
    Russell,

    Part of the Baldrige framework is the idea of continuous improvement. There are multiple ways for something to be considered for this; employee suggestions are definitely considered. Most of these though, end up coming up as areas in need of improvement because it is a barrier to reaching a corporate goal. In some instances, this becomes a rapid improvement event, other times it is handled as a 90 day team. There are project charters, action items, deliverables, and standup meetings that are built into these routines to keep things on track. These are also discussed every two weeks during a change the business or run the business. These also make it into quarterly meetings and all staff reports where appropriate.

    James

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    James Stock
    Chief Technology Officer
    USF FCU
    Tampa FL
    813.569.2000
    ------------------------------