CU*Answers, a 100% credit union-owned CUSO, recently wrapped up its 2015 CEO Strategies week. The event was changed to a new location and a three-day format, which was very well received by the over seventy credit union CEOs and leaders in attendance. The events included a collaboration workshop, CEO school, and a roundtable event during which attendees answered questions related to the future of the industry and managing credit unions.
On Tuesday, CU*Answers CEO Randy Karnes spoke with credit unions about becoming online retailers, sharing insights and previews of upcoming enhancements to CU*Answers products. “It’s hard for some credit unions to visualize what it means to be an ‘Internet retailer’ in the credit union space,” Karnes said. “It’s about seeing your products and services in a different way and presenting them to members in a space they’re comfortable with and in such a way as to facilitate ‘checking out.’”
Wednesday’s CEO School covered topics of big data, and how it’s become increasingly important for today’s CEO to be micro-aware. Per Karnes, “As a CUSO and as credit unions, we need to work to lower the cost of gathering data, double the money we spend on analyzing it, and quadruple the activities that analysis tells us we should do.”
To wrap up the week, the roundtable on Thursday gave CEOs an opportunity to discuss topics with their peers, covering cybersecurity risk, online retailing, the transformation of in-person service models, and lastly, whether members are ready for possible rate shock. “Our credit unions are wide-ranging in terms of size, location, and strategy,” added Karnes. “The ability to spend meaningful time discussing today and tomorrow’s challenges, and to share insights with others in the network is what makes the cooperative model powerful. All those who attended will go home with new ideas and new contacts to assist in reaching their goals.”
Visit http://www.cuanswers.com/events/ceo-strat/ for more CEO Strategies information, including links to presentations, special announcements, and handouts.