Why do you have a credit union strategic planning session? Probably to plan ahead. After all, it’s in the name. But some organizations spend much of planning looking in the rear view mirror:
- Reviewing last year’s numbers
- Reviewing budget items
- Reviewing binders of market data
All reviewing…no projecting or vision casting. And a ton of data on top of that.
Data isn’t inherently bad, but data overwhelm or data without insights isn’t helpful when making a strategic plan. We recently talked to a financial organization leader who complained that his planning session always devolved into a “glorified budgeting session.” His team fell into the credit union strategic planning data trap.
Don’t make the same mistake.
The Lure and the Net
A trap is set, waiting for you to stumble into it. Data – that magic word – is the lure, and it’s one that promises you all the solutions you could ever need. But then you spring the trap and the net falls over you. It stifles your session by:
- Killing your spirit, beating you over the head with reams of numbers
- Spoon feeding you stats about your organization or market you already know
- Focusing on trailing indicators rather than what lies ahead
Data is important. It tells you where you are, illuminates existing problems and gives you a baseline of the current reality. However, it hinders effective planning when it becomes the determinant of future reality instead of a jumping-off point to reach the future you want.
Implement Data the Right Way
You already know your numbers and key pieces of data. You already know the challenges and opportunities they present. That’s why spending hours reviewing those things in the session is a waste of your time. Implement data the right way with some forward-looking techniques:
- Pre-session surveys highlighting gaps between leaders on how they perceive things
- A trends report informed by data (but not overrun by it)
- Exercise results and ratings to help accurately position your plan
Data at your credit union strategic planning session must be a combination of the data you already know coming into it and the truly new information that helps you build your plan. Plus, cutting a lot of the needless data review makes your session less boring. That’s no small thing! Engaged people plan better than bored people.
Forward-Facing Credit Union Strategic Planning
Having a “glorified budgeting session,” “a yearly numbers review” or the other expressions some used to refer to their sessions is like walking backwards. You’re moving forward, but you’re looking behind you. Hitting objects is unavoidable.
Walk straight ahead. Use the data at your back to support your momentum. Let your plan result from the insights gained through the planning process and your well-informed discussions. Free yourself from the data trap.
Need help? Take our 3-minute quiz and get your planning score here. We still have planning dates available for this year so you don’t have to panic plan. And of course, it’s never too early to book for next year. Book a call and let’s chat.
FAQS: HOW CREDIT UNIONS SHOULD USE DATA IN THEIR PLANNING SESSIONS
What's the most common mistake credit unions make in strategic planning sessions?
Spending the session looking backward — reviewing last year’s numbers, budget items, and market data — instead of projecting forward. One leader described it as a “glorified budgeting session.” Planning that’s dominated by data review produces little actual strategy.
Is data bad for strategic planning?
No, but data overload is. Data tells you where you are and surfaces existing problems, but it becomes a trap when it drives the session rather than informing it. The goal is to use data as a jumping-off point, not as the determinant of future direction.
How should data be used in a credit union strategic planning session?
Bring in the data your team already knows before the session starts, not during it. Use forward-looking tools instead: pre-session surveys that surface gaps between leaders, a trends report informed by (not overrun by) data and exercises that help accurately position the plan.
What does a forward-facing planning session look like?
It focuses on vision, insights, and informed discussion rather than reviewing known numbers. Leaders engage with new information that genuinely shapes the plan, rather than sitting through recaps of things they already know. Engaged people plan better than bored ones — that matters.
How do we know if our planning process needs help?
If your sessions feel like budget reviews, data marathons or backward-looking exercises, the process needs restructuring. A 3-minute planning score quiz is available to help diagnose the problem quickly.
