By Sonya McDonald
Over the last five years, Randolph Brooks Federal Credit Union has gone from being the 27th largest credit union in the nation to the 15th, and we’ve almost doubled both assets and membership. While it’s been an exciting and extraordinary journey, it’s also reinforced how critical it is for us to continue to prepare for our future in a proactive way. Attending CUES’ CEO Institute I: Strategic Planning, could not have come at a better time!
We’re at a point in our credit union’s growth trajectory where the ability to maximize our resources will depend on having the right people, processes and plans. We need to leverage the past several years of outstanding growth and credit union fervor and not allow the marketplace to dictate our strategy. I believe the CEO Institute will add to my strategic planning expertise and better prepare me to anticipate curve balls and grow our credit union in a responsible way. It will also help me to balance current demands and long-term goals—to meet our immediate needs for things like facilities and technology while taking the appropriate steps to ensure future growth.
My credit union peers will be critical to my success in this area. As cooperative institutions, credit unions have a history of pooling resources and working together. At CEO Institute, we’ll be creating another type of cooperative—a credit union think tank, where we can discuss what’s worked for us and glean mutually beneficial information from each other.
Regardless of asset size and membership, we’re all facing the same regulatory issues and market concerns, and I’m hopeful we’ll create some synergy and bring back actionable ideas to our institutions. I’m excited to learn about other credit unions’ techniques and philosophies. I also hope to brainstorm with my peers to identify advantages we can use to further differentiate Randolph Brooks FCU from other institutions.
The competitive environment and the speed at which the American economy continues to change make this an interesting time to be part of a credit union. I’m excited to connect with other attendees and look forward to learning from you and sharing what’s worked for Randolph Brooks FCU.
Sonya McDonald is SVP/planning & market development, Randolph Brooks Federal Credit Union, Universal City, Texas.
CUES’ CEO Institute I: Strategic Planning, April 15-20, The Wharton School, University of Pennsylvania, helps attendees bring more to the strategy table. Learn more today.
