OCUL - 2023 Strategic Plan

STRATEGIC PLAN 2023

TABLE OF CONTENTS

Ohio Credit Union League & Affiliates

2023 Strategic and Operating Plan

EXECUTIVE SUMMARY

For nearly 90 years the Ohio Credit Union League (OCUL) has served and promoted the common interests of Ohio 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 2023 Strategic and Operation 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 Ohio credit unions achieve their mission and strategy, credit union members are better served.

This plan recognizes the challenging operating environment credit unions navigate to serve members. It focuses on how OCUL will deliver progressive 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 performance scorecard and budget inform its execution. At its highest level, the plan addresses OCUL’s top priorities as determined by the Board of Directors:

1. Diversifying funding sources with an emphasis on non-dues revenue;

2. Improving the value proposition for the credit unions; and

3. Broadening communication and collaboration among member credit unions.

OCUL’s successful plan execution will perpetuate the organization as an invaluable resource to the Ohio Credit Union Movement. Ultimately, OCUL’s value is its ability to help credit unions meet changing consumer needs and answer market challenges.

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 Ohio 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 Ohio’s growing Credit Union Movement.

MISSION

The Mission Statement drives OCUL’s organizational achievement: Support the success and common promotion 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 Ohio credit unions

• Leading people and initiatives with honesty, transparency, and integrity

• Innovation and change as catalysts for long-term viability

• Cultivating an inclusive and rewarding environment for our employees

• 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 Ohio credit unions serving one in four Ohioans, 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 Ohio credit unions. When Ohio credit unions and their stakeholders flourish, the Movement also succeeds.

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 its members and stakeholders

• Focus on a culture of serving constituent needs through exemplary service

• Develop new funding opportunities that foster organizational resiliency and prosperity

• Explore collaborative solutions that enhance the services provided to Ohio credit unions and other strategic stakeholders

• Prioritize the “voice of the member” to better understand and address challenges facing Ohio credit unions

• Be a committed partner and participant in the CUNA/League system

• Be disciplined in its pursuit of its strategic priorities

STRATEGIC PRIORITIES

Strategic Priorities are initiatives that propel action towards achieving vision and mission. 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 Goals. Accordingly, management will prioritize WIN – Now tactics in deploying management, staff, and financial resources. Given the context of this plan’s three-year time horizon, WIN – Now tactics will dominate year one (2023).

“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 seeing significant attention in year two (2024).

With this context understood, OCUL’s Strategic Priorities are as follows:

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.

NOW Submit a comprehensive plan to the OCUL Board for a stand-alone lobbying company that strengthens OCUL’s advocacy operation while also providing for new sources of revenue.

September 2023

NEXT Evaluate the potential for a cooperative business model (i.e., multi-owner CUSO) for OCUL Services Corporation as a means of building capacity and growth prospects and make recommendations to OSC and OCUL Boards accordingly June 2024

NOW Complete a comprehensive process for transforming Ohio Credit Union Foundation fundraising. December 2023

NEXT Evaluate alternative membership and dues models that address the League’s business needs (revenue, diversification, fairness, etc.) and make recommendations to OCUL Board accordingly.

November 2024

NOW Complete a comprehensive process for determining OCUL Services Corporation diversification business strategy (new markets, new products, etc.) June 2023

NEXT Add a new position to the OCUL Services Corporation sales team to drive product penetration and revenue growth/diversification.

June 2024

CONNECTING: STRENGTHEN RELATIONAL CONNECTIONS AND BUSINESS SUPPORT WITH MEMBER CREDIT UNIONS

OCUL’s greatest raw material of success is an embedded business relationship of high mutual value with member 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 relationship with and value to credit unions.

NOW Introduce an effective solution to help small CUs with employee health insurance. March 2023

NEXT Evaluate and implement programs that better assist smaller CUs with the unique operational challenges they face.

December 2023

NOW Evaluate the Concierge member-management program to strengthen its effectiveness and impact and implement recommended changes. March 2023

NEXT Fortify the marketing team to drive member, client, and partner awareness of the value proposition OCUL delivers to members CUs. June 2024

NOW Develop and implement a comprehensive strategy for the CEO Connections program to fortify awareness of and relationships with member CUs. March 2023

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 our member CUs.

NOW Implement customized leadership, training, and development plans for internal talent. June 2023

NEXT Prepare a formalized CEO succession roadmap in preparation for the eventual CEO retirement time horizon. December 2023

NOW Broaden Ohio Movement awareness of diversity and inclusion strategies through events, programming, and resources.

December 2023

NEXT Aggregate credit union diversity and inclusion impact data for external communication and awareness strategies. June 2024

NOW Working with the GRID Executive Board, develop a future-leader mentoring program to aid in developing Ohio’s next generation of CU leaders. June 2023

NOW Explore strategies for amplifying the small CU voice to clarify member and non-member needs and to ensure appropriate influence at management and Board decision-making tables. June 2023

SUCCESS SCORECARD