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Determine meaningful metrics to measure your credit union

first_imgSelect performance measures specific to your organization’s needs.The rise of “big data” has intensified the quest to quantify all aspects of a credit union’s performance.The simultaneous opportunity and challenge when building a metrics plan is to select performance measures specific to your organization’s needs.“Credit unions are so dramatically different these days, there’s not a one-size-fits-all solution,” says Denny Graham, president/CEO of the consulting firm FI Strategies LLC.To determine which metrics best suit your credit union, consider these tips from “Meaningful Metrics,” a CUNA Operations, Sales & Service Council white paper:• Start with your strategic plan. All performance metrics should support the achievement of your credit union’s long-term goals.• Choose the metrics most appropriate for operational performance. Graham cites an example of branch managers receiving 200 pages of reports daily. “Quite often,” he says, “the question isn’t, ‘What can we get?’ but, ‘What is the critical information we need?’ ”• Ensure that performance metrics align with departments and staff members who have “line of sight” to influence those measurements. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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