Bank / Credit Union

Strategic assessment tool helps credit unions prepare for future

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May 12, 2020

California-based CO-OP Financial Services is providing its Credit Union Strategic Investment Assessment tool, that gives credit unions a strategic blueprint for institutional growth, available to all credit unions. 

The assessment tool was announced last month as a benefit to institutions registering for the in-person THINK 20 Live conference planned for August 17-20 in Dallas, Texas, but CO-OP decided to enable any credit union to participate for $1200 without having to register, according to a press release.

The tool, which is customized and powered by CO-OP and backed by EY's NextWave consumer financial research, takes about an hour to complete and begins with a survey. The survey includes data from credit unions, market/industry research and trends and consumer trends to present a comprehensive picture of the scope and scale of opportunities available to individual institutions. The assessment will outline the strategic models with high potential to drive growth at the credit union, along with data behind the institution's current state and future opportunities. This includes identifying its target audience, where to invest and capabilities needed moving forward.

"Credit unions must carefully evaluate their strategy as we navigate the current market environment and a post-COVID-19 world," Samantha Paxson, chief experience officer for CO-OP, said in the release. "This tool is the perfect jumping off point to help credit unions in these difficult circumstances. We are very pleased with the interest generated in the assessment to-date and are delighted to offer it apart from the conference, at a remarkably reasonable fee."

The deadline to complete the assessment is July 2.