By Michael Hudson, Ph.D.
Credit Union directors play a critical role in the strategic planning process. As stewards of the credit union, they are responsible for making sure the credit union pursues a vision that will benefit the entire membership and support the continued success of the organization. 
It’s not always easy, and the pathway to success is seldom clear. But strategic planning is arguably the most important part of the credit union director’s job. Every director should take the responsibility seriously and strive to perform it to the best of their abilities.
Here’s a quick "five-step prescription" for strategic planning success:
1. Adopt a possibility thinkers' mindset. It's easy to come up with a list of reasons why an idea won't work. It's much harder to identify ways that it might work and to envision potential outcomes from never-before-tried actions. But thinking about the possibilities often reveals ideas and insights that lead to better decisions.
2. Think rigorously, share ideas and ask questions. Strategic thinking is difficult. It demands a level of rigor that goes beyond what is needed for the monthly board meeting. The key action step is to share ideas and ask questions that will help the planning team discover the best strategic direction for the credit union at this point in time. Allow the debate to happen and make sure the tough issues are confronted to make better strategic decisions.
3. Put strategy first, implementation second. It is easy for high-level discussions regarding strategy to quickly devolve into debates about implementation details. Planning teams that make the best decisions fight this distraction at every turn--focusing their strategy conversations at the 30,000-foot level and leaving it to the staff to work out the implementation details.
4. Let the data speak, not just the stories. The extensive experience many directors bring to the planning process provides a wealth of stories, anecdotes and perspectives that will surface during the discussion. While this is a valuable and important part of the process, the stories need to take a back seat to analysis of the credit union's data. Often what we think is going on is far different from what is actually going on, and strategy decisions need to be based on analysis of information, not just gut feel, comfort and familiarity.
5. Regularly exercise your strategic thinking muscles. If you spent the entire year sitting in a chair, then decided to take a walk for two to three days in the fall, chances are it wouldn't go very well. The same can be said for strategic thinking. Successful planning teams discuss strategy on an ongoing basis and find ways to increase their strategic thinking capacity. That helps them make better decisions when they immerse themselves in thinking about strategy during the annual planning session.
Michael Hudson, Ph.D., is founder and principal of CreditUnionStrategy.com. A frequent speaker at credit union conferences across the country, Hudson helps credit unions with strategic planning processes, leadership development programs, and improvement initiatives. For more information, call 866.532.3968.
Hudson will speak at CUES' Directors Conference this December in Las Vegas and at CUES Symposium: A CEO/Chairman Exchange in February in Bonita Springs, Fla.
