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CEO SchoolWhere everyone’s a teacher,
and everyone’s a student
CU*Answers CU*Answers CEO Strategies WeekCEO Strategies WeekNovember 26November 26--30, 200730, 2007
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Today’s Topics
CU*BASE Tools You Should Be Familiar With– Member Data 2008: What a CEO Should Know– Leading Meetings 2008: Tools for a CEO
Strategies Where CU*Answers is Actively Working...Are You?– Driving the Buzz With Your Membership: Member Reach 2008– Understanding Service Income 2008– Networking Credit Unions for Growth– Working Under the Best Contracts
Wrap-Up– 2007 Releases: A Goldmine for Your 2008 Business Plan– Leading Change: What to Be Ready For in 2008
Member Data 2008: What a CEO Should Know
CU*BASE Tools You Should Be CU*BASE Tools You Should Be Familiar WithFamiliar With
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Member Data What a CEO Should Know
Databases: Places to look for answers about how your credit union interacts with your members and staffMore than 20 menu options that might get you thinking about what you and your teams really know about your operationLearn to look for trends, push your team for answers, and challenge yourself to create a more curious culture that is at the core of constant innovation
Tip for data junkies: MNQURY #2
“Search for Files and Fields”
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Leading MeetingsTools for a CEO
The following slides will give you insight into data and menu options on CU*BASEThey should also get you thinking about how you could use these features to present to your team, your Board, and maybe even your members, to give them a sense of where you are, where you might be going, and some interesting facts to brainstorm around
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Leading Meetings Tools for a CEO
Working with internal teams– Cooperation– Competition– Curiosity
Working with credit union Boards– Demonstrate grasp– Demonstrate insight for innovation– Demonstrate accountability
Asking the right questions can change behavior and results...a
new CEO tickler program
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How many new platinum members did we
add since January?
Can you give me three reasons why a member would
take our new checking account
over our competition?
“CEO Tickler” Program
Asking the right questions can lead to change– Create accountability– Make sure people know you are interested in what they do
What if every month or two you got a list of questions you could ask your teams...
How many loan applications did we
average per week for the last 12 weeks?
Which week did we do the best?
Is there an employee in your department
that I should consider for leader of the quarter?
Did member email address volumes go up last month?
Let’s try this again...
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Member Data What a CEO Should Know
Trending Member Money
MNMGMT #8 > F9-ADB CalcG/L Average Daily Balance Calculator
MNGELE #11Trial Balance G/L Verification
MNMGMT #8Loan/Share Trial Balance Review
Tip for spreadsheet junkies: MNGELE #16
“Print CU Financials”
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Member Data What a CEO Should Know
Internal Controls
Inquiry/PhoneStatement Audit/Statistical Inquiry
MNGELE #9 Smart Operator: Daily Ops Log
MNGELE #12 Vault G/L Verification
MNGELE #11 Trial Balance G/L Verification
Coming in 2008 for auditing junkies:
MNAUDT“Auditing Functions Menu”
Coming Soon!
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Member Data What a CEO Should Know
Benchmarking Activity
MNLOAN #8 > F17-Activity tracking
Loan App Activity Tracking
MNMGMA #21 Configuring Delivery Channel/Costs
MNHTLA #16 Cash Activity Analysis Inquiry
MNMGMT #25 Processing Summary Statistics
MNGELE #9 Smart Operator: Daily Ops Log
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Member Data What a CEO Should Know
Understanding Member Activity
MNGELE #9 Smart Operator: Daily Ops Log
MNHTLA #4 Teller Activity by Transaction Type
MNHTLA #3 Teller Activity by Day of the Month
MNHTLA #2 Teller Activity by Day of the Week
MNHTLA #1 Teller Activity by Time of Day
MNMGMA #18 Money Movement Analysis
MNMGMA #3 Transaction Activity by Branch
MNMGMA #2 Transaction Count by Delivery Channel
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Member Data What a CEO Should Know
Understanding Member Preferences
MNMGMA #7Where Your Members Branch
MNMGMA #6 Where Your Members Borrow
MNMGMA #5 Where Your Members Shop
MNMGMA #4 Member Transaction Label Analysis
Tip for trending junkies: Transaction Activity Label
(Inquiry/Phone) – file MAMBINF
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Member Data What a CEO Should Know
Understanding Your Membership
Coming!Slice and dice your membership
MNMRKT #25 Tiered Service Monthly Comparison
MNMRKT #22 Membership Analysis Inquiry
MNMGMA #19 Products & Services Per Member
MNMGMA #17 Open/Active/Closed Members by Age Group
MNMGMA #1 Channel Activity by Member Age Group
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Member Data What a CEO Should Know
Auditing and Mining the Activity of Members
Inquiry/PhoneStatement Audit/Statistical Inquiry
MNGELE #9 Smart Operator: Daily Ops Log
MNUPDA #9 Update Dormancy
MNMGMA #12 Sample Transaction Activity by Delivery Channel
MNMGMA #11 Sample Checking Account Activity
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What are your favorites?
You should have security to access the following:– MNMGMT (all options)– MNMGMA (all options)– MNHTLA (all options)– MNMRKT (#16-25)– MNLOAN (#8)
You should have at least these menus in your favorites:
– MNGELE (#9, #11-12)– MNQURY (all options)– MNQRY2 (all options)– MNUPDA (#9)
Strategies Where CU*Answers is Actively
Working...Are You?
Driving the Buzz With Your Membership: Driving the Buzz With Your Membership: Member Reach 2008Member Reach 2008
Understanding Service Income 2008Understanding Service Income 2008
Networking Credit Unions for GrowthNetworking Credit Unions for Growth
Working Under the Best ContractsWorking Under the Best Contracts
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Driving the Buzz With Your MembershipMember Reach 2008
What do recent enhancements to Member Reach and Member Connect tools mean to your CU?– Talking Points– Copying Marketing Tips/Procedures– ASAP / Exports from CU*BASE Tools– Online Banking/Email Message Library– CU*Blitz– Partners in Practice collaborative marketing/contests
Does the fact that you have no clear ROI analysis for something keep you from doing what you know to be the
right thing to do? (ROI Paralysis)
Does it “pay” to smile? Does it pay to create a buzz with your members?
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Driving the Buzz With Your Membership An Organizational Strategy, Not a Face-to-Face Burden
Direct Sales with Cross Sales/Information Gathering
A.S.A.P.Analysis and Opportunity Identification
Member Connect ActivitiesDriving the Buzz
Direct Sales Response Version 2
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Understanding Service IncomeUpdate on What We Kicked Off at Last Year’s Event
Current Service Income Projects– New Fee Income Analysis inquiry– Inventory of service income types (there are 18 with built-in fee waivers)
– Standardize fee waiver routines
How far should we take it, and what does the shift from balance sheet to the transactional business mean to your credit union strategy?Working cost of transactions, transaction labels, and seeing 90+ days of activity... has it changed anything? Tip for marketing junkies:
Understand Reward Checking before you jumpComing soon:
A relationship with BankVue
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Carrot or Stick?
What are you doing to relate to members looking for a good deal today?The person searching for rewards, the person who pushes back against the stick CU*Answers has developed reward strategies...no CU has maximized these to date
http://redtape.msnbc.com
We used to joke about behavioral modification fees...do they still work? Do they inspire a growing audience or just
defeat a shrinking membership?
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Networking Credit Unions for Growth
What is multi-corp processing? How can a CEO use it in thinking about strategy in 2008 and beyond? – Method 1: Borrow from the Service Bureau concept
(shared branching)– Method 2: Multi-corporation tools embedded in CU*BASE
(combined member database)
What is the future of multi-corp processing now that we have working projects? How do we see options for combining credit unions?
Coming soon: Privacy 2010
A project focusing on shared processes with multiple partners
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Networking Credit Unions for Growth
Designing Shared Resource Efforts – How can credit unions use CU*Answers and Xtend
templates to build businesses of their own?– Coming in 2008: Xtension Call Center and internal auditing
support (AUDIT-LINK)– Expanding SRS 5300 initiative and ALM processing
From this year’s CEO Collaboration Workshop...
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Working Under the Best Contracts
Understanding what vendor consolidation means and does not mean to a credit union who is paying attention to the contingencies in changing relationships with a changing vendor marketplace– Assignment– Cancellation clauses– Anxiety about CU*Answers selling out
As CEOs, what pressures are you under when it comes to third-party contracts? What can CU*Answers do to make
our contracts a competitive advantage for our CUSO and a non-issue for you?
Wrap-Up
2007 Releases: 2007 Releases: A Goldmine for Your 2008 Business PlanA Goldmine for Your 2008 Business Plan
Leading Change: Leading Change: What to Be Ready For in 2008What to Be Ready For in 2008
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10 Years of ReleasesA Goldmine for Your 2008 Business Plan
New Stuff Just in 2007– Trackers– eDocuments Phase 1: eReceipts & Photo ID Capture– Prime Alliance interface– Exporting Financial Statements to Excel– HSAs– Talking Points library– Member Connect Message
Library– Enhancements to Tiered Service
pop-up window (Inquiry/Phone)
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Leading ChangeWhat to Be Ready For in 2008
It’s Me 247 Online Banking– It’s only the beginning; a new engine means a future rich in
possibilities
CU*BASE Platinum – It’s more than looks and good feelings, it is a must...
can you sell it to your team?
Coming soon: Online Course CNV 101 Leading Change: Conversion Preparation for CU Management
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Leading ChangeWhat to Be Ready For in 2008
The value of an active collaborative mindset – Turning good intentions into competitive advantages for both
your credit union and your career
Other projects to be aware of– Sunset for Microfiche as of March 31, 2008– Cisco Router Upgrades
• 90 CUs pre-purchased upgraded routers in anticipation of April 26 sunset
• 147 routers (approx. $465,000)
Coming soon: Online Course CNV 101 Leading Change: Conversion Preparation for CU Management
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The Value of PeersPast, Present, and Future
Last week I turned 49...and like many leaders of my age, I feel a little trapped between the skills I learned from the generation before me, the skills I continue to refine in the present, and the skills I know I will need in the futureHow important is data to your future? How important is understanding a networked world? How important is it to be ready to show that you have a grasp in meetings? How important is it that you are linked in to innovators? Are you ready to be relevant to tomorrow’s requirements for leadership?I will work another 15-20 years, and I hope to lead for all of them...for that dream to come true, I need peers like you to help me hone my skills – and I hope you see it the same way
Thanks for the day!