Directors’ Forum: Wrapping Up
October 27, 2012
Alisdair Smith, MA -- National Facilitator
Themes: Be Certain Shift will Happen
Provocative Thinking
Collaboration and Partnership
We’re part of a very large sector, that is changing the
world. What do we need to start to look like to build on our
success?
Technology and Dis-intermediation
3 Foci: Strategy, Risk, Talent
What does your credit union look like 1.0? 2.0? 3.0?
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Dots on a Map: Sarah Canepa Bang
1.2 million members access
at all 488 locations?
Plus Tim Hortons?
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Dots on a Map
5.2 million members
access at all 1748
locations?
Plus Tim Horton’s?!
Plus Apple?!
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Provocative Thinking for Ontario Credit Unions
Vision – Alignment -- Execution
12% market penetration
4% of assets in the market
What have WE done lately?
Access to capital
Common brand?
Common vision?
Jack Smit
Common Value Proposition?
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Luani Skinner’s Questions
• How is my credit union creating value for the members we
want to attract?
• How is my credit union meeting consumers where they are
at?
• How is my credit union cooperating (collaborating) to make
us better?
• Is our credit union committed to growing our membership?
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“In Your Corner” Guarantee
“Be the change you wish to see in the world” Ghandi
“Somebody has to do something and it’s incredibly
pathetic that it has to be us.” Garcia
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“Eye to Eye with Management”
Paul & Andy
Good governance is based
on good knowledge
This is an innovative
approach
Commitment,
not compliance
Investment, not cost
Competencies
Technical & Behavioural
Progressive
Implementation
Group Development
Stock and Flow
Policy needs to be
in place now
Mentors
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“Look in the Mirror”
“Has this credit union
outgrown me?”
Am I adding tangible value?
What are my strengths and
how are they serving the
board and credit union?
What is the one thing I could
change that would benefit
the board and/or credit union
in the next 12 – 18 months?
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10 Questions from Don Rolfe
1.
What is our business?
2.
Who is our customer?
3.
What does our customer value?
4.
What is our plan?
5.
What are our results?
6.
What has changed since we last met?
7.
What is the impact of the changes?
8.
What actions/measure should be taken?
9.
What are the expected results of our actions?
Don Rolfe
10. What changes are emerging?
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Operating in ‘Certain Times’– Shift Happens
•
Why do we exist, what is our
unique and common value
proposition?
•
Low interest rates will continue 24
months
•
Next 3 – 5 years, BC & Ont about
100 credit unions to about 75
•
Risk mitigation is key – we’ll be
painted with the same brush
•
Greater regulator harmonization
between the provinces
•
1 – 3 credit unions going
interprovincial/national
•
Payments Technology – Apple?
Google? Paypal?
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The New Branch?
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“The Dog and The Frisbee”
Have you got the right people?
Will they be the right people in 5 years?
“Lowering your
price is the last
refuge”
Realistically what value
proposition can we expect
In the future?
What is our story?
Now? In 10 Years?
OSFI, Dog and Frisbee , Towards
Effective Governance
3 Foci: Talent, Risk, Strategy
Underestimating the risks of the
status quo!!
What does our “Jukebox” look like?
“You need a board that works
well together.”
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Credit Union 3.0
30 second value proposition – selected members – selected employees – your desired
purpose, culture, training and incentives.
The One Thing
“Staff who have the mojo
for the soul of your business”
>
3.0 = focused niche player with targeted, loyal segments, start to exclude
GVCU = 3rd Income Quartile
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It is up to us!
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Action Plans
• What did you learn here? What difference will
that make at your board?
• In 2020 what unique difference will your credit
union and the Ontario system have made to
the communities we serve?
• What is the first action step towards that
difference you will take to your board/credit
union?
• What will you be doing differently Monday
morning?
• Email yourself so that the email comes on
Monday morning
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