Strategy for credit unions is challenging due to all the demands placed on credit union staff at year end, but it’s vital to put the pieces in place for next year while building team morale during this period. Your plan for next year must come together now.
The bags upon bags of Halloween candy (and even some early Christmas catalog mailings) may fill you with an equal measure of dread and joy. Dread at how busy you are and the stress of finishing up work while balancing personal commitments. Joy at some time off and celebrating the year’s successes.
Either way, once you’re in the thick of things, it’s hard to think straight. So, think ahead before the storm of chocolate and turkey and good cheer hits.
Here’s what strategy for credit unions needs to focus on before the holiday madness.
Plan to Finish Strong
As Michael Phelps said, “It’s not how you start, but it’s how you finish.”
Don’t assume the last few months of the year are a waste because consumers are busy. Yes, they are busy…but they are also still making critical decisions and planning for next year. 45% of consumers are starting these decisions in October. 65% of people will put holiday purchases on a credit card, with the debt increase causing significant stress.
There’s room for you to step into this space. Can you offer personal loans with lower rates? Special deals? Low-interest credit cards or debt consolidation?
Make time for that last one or two campaigns and push hard to reach your goals. It’s not too late.
Have a Strategy for Credit Unions That Prepares for Next Year
You either already made your strategic plan, are making it now or will soon. And having a plan is great…as long as you implement it. To implement your plan well next year, you need to set up the systems now.
As James Clear says, “You do not rise to the level of your goals. You fall to the level of your systems.”
Initial strategy for credit unions typically exists at a high, 30,000-foot level. You need to take your plan and make it tactical: who handles what task, deadlines, action steps under each task, measures of success. Then, you need to construct a way to regularly check in on progress.
Maybe schedule a once-a-month strategy meeting. At the very least, perform a quarterly strategic sprint to see where your plan is succeeding or failing.
Reflect and Build Morale
Remember to reflect (both individually and as a team). What went right? What went wrong? What commitments will you make for next year? Reflection helps you see the upcoming year with fresh eyes while avoiding past mistakes.
Lastly, the final few months of the year are a great time to build morale. Step back from the holiday rush and have a White Elephant (or Secret Santa) event with the team. Spend the money on that holiday party – it’s worth it. Align and connect now…before you need to tackle an ambitious plan together.
Look Ahead
Strategy for credit unions and maintaining morale are not one-time things relegated to Q4. They are year-long commitments. Commit to a better 2027 now. Train your staff and book your planning session – book a call to chat about it.
FAQs: WHAT STRATEGY FOR CREDIT UNIONS SHOULD YOU USE FOR NEXT YEAR?
What should credit union strategy focus on before the holidays?
Three things: finishing the year strong with final campaigns, turning next year’s strategic plan into systems that will carry it out and reflecting and building team morale. It’s hard to think clearly once the holiday rush hits, so this work needs to happen before then.
Is it worth running marketing campaigns at the end of the year?
Yes. Consumers are busy, but they are still making big decisions and planning for next year. McKinsey data shows 45% of consumers start these decisions in October, and LendingTree reports that 65% of people put holiday purchases on a credit card, which adds significant debt stress. Credit unions can step in with lower-rate personal loans, low-interest credit cards, debt consolidation or special offers.
How do you make sure a strategic plan actually gets implemented?
Set up the systems now. Most strategic plans start at a high, 30,000-foot level. To carry one out, break it into tactical pieces: who owns each task, deadlines, action steps and measures of success. As James Clear says, “You do not rise to the level of your goals. You fall to the level of your systems.”
How often should a credit union check progress on its strategic plan?
A monthly strategy meeting is ideal. At minimum, hold a quarterly strategic sprint to see where the plan is succeeding or falling short.
Why should credit unions focus on team morale at the end of the year?
Because next year’s ambitious plan needs a connected, aligned team to carry it out. Reflect individually and as a team on what went right, what went wrong and what you’ll commit to next year. Then invest in morale with a holiday party, White Elephant or Secret Santa. Strategy and morale are year-round commitments, not just Q4 tasks.
