For LSCU & Affiliates, we expect to close the books on 2016 exceeding net income projections for the year. In addition to working with CUNA on our federal advocacy agenda and very proactive state advocacy agendas in both Montgomery and Tallahassee, the LSCU & Affiliates has the following strategic priorities for 2017:
- Investing Back Into the Organization – Our staff is our greatest resource. Ensuring the right organizational culture and providing professional development for our staff is essential to our future success. As part of this, we plan to invest more resources in technology that will allow us to better serve our member credit unions.
- Challenging Leadership to be Coaches, not Managers – Starting this month the LSCU & Affiliates will be kicking off our CORE Leadership Academy. CORE stands for Coaching for Outstanding Results & Engagement. As we know, most leaders receive very little formal leadership training. The CORE Leadership Academy is designed to provide managers and supervisors with the tools necessary to be successful leaders and coaches. The League is working with an outside consultant who will lead these sessions. The first round of the academy has eight training modules that our entire leadership team will participate in every other month throughout the year. Phase 2 of this project will be to open training to all aspiring leaders within the organization who have been identified as such and meet certain criteria.
- Better Manage Our Expense Structure – Becoming more efficient while not impacting our member/client value proposition is also a priority this year. All League Service Corporations (LSCs) have faced revenue compression due to lower remarketing agreement reimbursements from CUNA Mutual Group and other system partners. The LSCU & Affiliates has been able to manage thus far, but we will need to continue to look for opportunities to save money.
- Review Our Current Dues Structure/Formula – This process is to be undertaken by the LSCU Board’s Governance Committee during the first half of year. Since consolidation of the Alabama and Florida Leagues back in 2009, we have been operating under the same dues formula. With continued credit union mergers, it is only prudent as an organization that we review this formula from time to time to ensure it is still fair across all asset classes, as well as meeting the current and future funding needs of the LSCU & Affiliates.
- Generating More Revenue – Creating a Sales & Service Culture throughout the organization and having LEVERAGE be the financial engine that drives our sustainability has never been more important. We’ve made staffing changes during the second half of 2016 designed to lay the foundation for moving in this direction and expect to start seeing the results of these changes during the second half of 2017.