STRATEGIC PLAN
2024
Ohio Credit Union League & Affiliates 2024 Strategic and Operating Plan
TABLE OF CONTENTS EXECUTIVE SUMMARY ....................................................................................................................... 3 VISION, MISSION, AND CORE BELIEFS ............................................................................................ 4 WHO WE SERVE .................................................................................................................................. 4 STRATEGIC CHOICES ......................................................................................................................... 5 STRATEGIC PRIORITIES ..................................................................................................................... 5 SUCCESS SCORECARD ..................................................................................................................... 9 BUDGET OBJECTIVES ...................................................................................................................... 10
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EXECUTIVE SUMMARY For 90 years the Ohio Credit Union League (OCUL) has served and promoted the common interests of credit unions. As a passionate advocate, OCUL positions itself as a key partner supporting credit unions and the work they do to meet the diverse financial needs of members, businesses, and communities they serve. OCUL’s 2024 Strategic and Operating Plan is a roadmap for enhancing the organization’s value and impact. It combines the deep expertise of its Board of Directors, management team, and staff with a set of strategic priorities designed to maximize OCUL’s value proposition. OCUL believes that when credit unions achieve their mission and strategy, credit union members will be better served. This plan recognizes the challenging operating environment credit unions navigate to serve members. It focuses on how OCUL will deliver impactful advocacy, expertise, collaboration, and advice for credit unions and the stakeholders who support them. OCUL’s vision, mission, and core beliefs form the plan’s foundation. Strategic priorities, tactics, strategic choices, and the success scorecard and budget objectives inform its execution. At its highest level, the plan addresses OCUL’s top deliverables: •
Navatros as a diversified growth business
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the best business model for advocacy growth
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the best business model for Foundation growth
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best-ever member, client, and partner connections
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downstream CEO succession excellence
OCUL’s successful plan execution will perpetuate the organization as an invaluable resource to the Credit Union Movement. Ultimately, OCUL’s value is its ability to help credit unions meet changing consumer needs and answer market challenges.
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VISION, MISSION, AND CORE BELIEFS OCUL’s success is built upon its vision, mission, and core beliefs. These make up the foundation and ideals driving OCUL’s partnership with credit unions. Collectively, these statements provide the groundwork for the strategies and business decisions that will guide OCUL’s actions now and into the future.
VISION The Vision Statement defines OCUL’s aspiration: Be an independent, thriving state trade association focusing on the success of a growing Credit Union Movement.
MISSION The Mission Statement drives OCUL’s organizational achievement: Support the growth and success of credit unions through advocacy, expertise, collaboration, and advice.
CORE BELIEFS Core beliefs are shared values that drive OCUL’s culture, vision, and mission: OCUL believes in: • • • • • •
Credit unions and the eight Cooperative Principles that sustain them Working with passion and energy when serving credit unions Leading people and initiatives with honesty, transparency, and integrity Innovation and change as catalysts for long-term viability Cultivating a rewarding environment and professional growth for our team Inclusion and diversity as powerful forces driving collective success
WHO WE SERVE OCUL helps its members reach new heights and shapes the Movement’s future. With credit unions serving one in four Americans, advocating for Movement growth and success is a leading organization priority. Accordingly, credit unions are OCUL’s first and most important constituency. Additionally, OCUL serves Movement stakeholders who also contribute to the success of credit unions. When credit unions and their stakeholders flourish, the Movement also succeeds.
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STRATEGIC CHOICES With limited resources and expanding stakeholder needs, the following strategic choices guide how OCUL will deploy its resources and achieve its mission. OCUL will: •
Remain an independent state trade association dedicated to maximizing value for credit unions and stakeholders
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Focus on a culture of serving constituent needs through exemplary service
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Develop new funding opportunities that foster organizational resiliency and prosperity
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Explore collaborative solutions that enhance our value proposition to credit unions, clients, and other strategic stakeholders
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Prioritize the voice of the member to better understand and address challenges facing credit unions
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Be a committed partner and impactful participant in the greater credit union system
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Be disciplined and accountable in pursuit of its strategic priorities
STRATEGIC PRIORITIES Strategic priorities are initiatives that propel action toward achieving vision, mission, and deliverables. OCUL’s disciplined focus on these strategic priorities is how we intend to execute our strategy. Tactics aligned with each priority dictate management attention, Board reporting, staff execution, and resource allocation. These tactics are framed up using the “WIN WIN” philosophy, which intentionally distinguishes between What’s Important Now and What’s Important Next. “WIN – Now” tactics are our top execution priorities. Accomplishing WIN – Now tactics has the most powerful and immediate impact on achieving our strategic aspirations and tactical goals. Accordingly, management will prioritize WIN – Now tactics in deploying management, staff, and financial resources. Given the context of this plan’s two-year time horizon, WIN – Now tactics will dominate year one (2024). “WIN – Next” tactics are next-level priorities to be addressed as resources allow given the priority position of WIN – Now tactics. WIN – Next tactics will receive attention and resources as possible given the context of secondary priority and resource constraints. WIN – Next tactics are not limited to sequentially following WIN – Now tactics yet reflect resource limitations of a small organization and accordingly result in WIN – Next tactics receiving significant attention in year two (2025). With this context understood, OCUL’s strategic priorities are: 5
OCUL’S STRATEGIC PRIORITIES FUNDING: GROW AND DIVERSIFY OUR LONG-TERM REVENUE STREAMS OCUL faces challenging revenue headwinds and is vulnerable to concentration risk in key funding sources. To achieve our vision and mission, we must extend and optimize current revenues, successfully develop new revenue sources, and produce an increasingly diversified revenue portfolio.
CONNECTING: STRENGTHEN RELATIONAL CONNECTIONS AND BUSINESS SUPPORT WITH CREDIT UNIONS OCUL’s greatest raw material of success is an embedded business relationship of high mutual value with credit unions. In terms of value proposition, credit unions expect OCUL to deliver meaningful, tangible business support that accrues to their success. To attain our vision and mission, we must fortify our business relationships with and value proposition for credit unions.
LEADING: IMPLEMENT STRATEGIES NECESSARY TO SECURE LONG-TERM LEADERSHIP SUCCESS IN OUR ORGANIZATION AND FOR CREDIT UNIONS The quality and continuity of leadership is a bedrock element of long-term viability of any organization. This is true for OCUL and credit unions alike. To achieve our vision and mission, we must create a robust leadership pipeline conducive to our long-term success and the success of credit unions.
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