sharing between credit unions. credit union ceos and boards face similar challenges: grow the book....
Post on 02-Jan-2016
218 Views
Preview:
TRANSCRIPT
Credit union CEOs and Boards face similar challenges:
Grow the book. Remain competitive. Increase value. Remain true to cooperative
principles.
Hard truths facing credit unions:
Our expenses are much too high. Bank mergers are imminent. Credit unions are exposed to
regional economies.
Hard truths, cont’d Some address these challenges through
mergers (some succeed, others don’t). There isn’t always a suitable merger
partner. First hand experience suggests that a
merger is difficult to make successful.
Options available to credit unions: Help influence legislation that will
allow for cross-border mergers.
CCA Act amended to allow two or more credit unions to form retail association, (currently 10).
Credit unions become banks.
The Unmerger – The Pathways alternative:
Mergers are sometimes the best option.
Mergers are not always appropriate.
Pathways is about partnering without necessarily merging.
What is Pathways?
Pathways is a simple vision… to build a strong and relevant financial network, spanning borders and boundaries, that creates a significantly increased opportunity for all network partners to "WIN" in their local markets and experience sustained growth and success.
Pathways is a reality Envision Financial and First
Calgary Savings now jointly own: inUnison Technology Services – a
technology company that manages and maintains our banking system.
Pathways is a reality Envision Financial and First
Calgary Savings now jointly own: inUnison Financial Services –
providing dealer services and financing in non-traditional markets.
Pathways is a reality
Envision Financial and First Calgary Savings have jointly developed and launched:A Strategic Plan
Working Partners – Gaining a real competitive advantage
Turning traditional barriers into opportunitiesManaging Change
Culture Clashes
Lack of Security
Costs
Competitive Advantage
Partnering creates new physical and financial strength.
Collaboration on investments in new products, services and delivery channels, forging new partnerships in our communities, involvement with non-profit organizations.
Appears to be considerable duplication in the marketing structure and efforts of our two organizations, and at the same time, striking differences in how we execute our business strategies.
Competitive Advantage
Experience to date …Brand
Research and Product Development
Corporate Citizenship
Annual Report
Strategic Plan Creation and Introduction
Competitive Advantage
Benefits and ChallengesOnly have to do things once
Create regional solutions
Resources go further
Human and budget
Speed of solutions
Communications
New relationships
Competitive Advantage
top related