CCUA Strategic Plan

Transcription

1 CCUA Strategic Plan Strategic Themes April 2016

2 Introduction This is perhaps the most exciting and important time in the history of our industry. While the creation of the CCUA is a milestone for credit unions, we are optimistically embarking on a journey to streamline and strengthen our infrastructure and processes, in order to support the growth of credit unions and the diversification of our membership. The success of credit unions is at the core of what we do and at the heart of this Strategic Plan. It is designed to continue to build CCUA as a strong, sought after and representative voice advocating for credit unions, and a collaborative leader on emerging industry issues. As the national trade association, CCUA will deliver relevant and effective trade services while being responsive and accountable to credit union needs. CCUA will be: strong in policy analysis in order to speak authoritatively about our industry; strong in analytics in order to back up our claims with accurate data; strong in market research in order to support credit union awareness raising and brand-raising marketing activities; strong in advocacy in order to build the capacity of credit unions to speak commandingly to all levels of government and build a powerful and influential lobby; strong in introducing ideas and initiatives that will support the industry s growth and innovation. strong in communications, since research, analytics and policy analysis are only useful if communicated forcefully and consistently; and best-in-class in the development and delivery of professional development, education services and national events. CCUA will be the representative voice for credit unions with government and other key stakeholders, including the cooperative sector, think tanks, research bodies and other industry associations. In terms of trade activities, CCUA will work with the provincial and regional Centrals to bring together trade activities and deliver the services and tools credit unions need to thrive and succeed. With regard to trade services and over time, CCUA will: provide coordinated advocacy with federal and provincial regulators, while maintaining valuable local relationships; reduce overlap and create national compliance guidelines for national issues; consolidate marketing support and other trade services where appropriate; and bring credit unions together in building collaborative solutions that result in strengthening the industry. By bringing credit unions into direct membership in 2015, CCUA became the first credit union owned and governed national organization. We are a re-invigorated and dynamic association, one that is built on a commitment of service, transparency and effectiveness. By 2020 we will deliver on these commitments. 2

3 VISION Championing credit unions as they help all Canadians achieve financial well-being. MISSION The success of credit unions is at the core of what we do. We will be a strong advocate, raise awareness, provide quality research and education and be a collaborative leader on emerging industry issues. STRATEGIC THEMES THOUGHT LEADERSHIP Lead and shape the future of the credit union industry POLICY & ADVOCACY Advocate for a favourable policy and legislative environment for credit unions across Canada NATIONAL CREDIT UNION AWARENESS Increase awareness of the unique value proposition of Canada s credit unions CREDIT UNIONS HUMAN CAPITAL CAPABILITIES Build credit union capabilities through professional development and education CCUA S FOUNDATION Solidify CCUA s foundation by enhancing the organization s capabilities 3

4 How CCUA will achieve the strategy

5 How CCUA will achieve the strategy STRATEGIC THEMES ACTIVITIES THOUGHT LEADERSHIP Lead and shape the future of the credit union industry 1. Drawing on existing work by provincial /regional Centrals and with input from credit unions, be a catalyst and provide a forum for the development of a shared vision of the future state credit union industry 2. Publish and socialize thought leadership content on 4-5 select topics that are components or drivers of the shared vision (e.g., payments, capital, wholesale finance, Tier 2 support, legislative framework / policy alternatives) 3. Continue to engage with the industry by facilitating / participating in initiatives where CCUA has subject matter knowledge or expertise to contribute 4. Through national events, committee work and leadership create forums for discussion, debate and planning of industry priorities 5. Stay connected to industry thought leadership 6. Establish CCUA as a centre of excellence for credit union social responsibility (CUSR) POLICY & ADVOCACY Advocate for a favourable policy and legislative environment for credit unions across Canada 1. Agree on high-level principles / vision for future state regulatory framework (e.g. sustainable regulatory burden for smaller institutions, recognition of cooperative structure) 2. Shape and influence legislative and regulatory policy that recognizes the distinctiveness of credit unions and enables their growth and success 3. Work with Centrals and credit unions to coordinate advocacy support for credit unions 4. Continue to build CCUA s reputation and influence externally and internally 5. Provide guidance and strategic insights to credit unions on regulatory compliance requirement NATIONAL CREDIT UNION AWARENESS Increase awareness of the unique value proposition of Canada s credit unions. 1. Conduct a national awareness and perception baseline study 2. Define, through an inclusive process, a compelling credit union industry value proposition in Canada 3. Work with the industry to effectively communicate the common value proposition leveraging the efforts of credit unions 4. Align national communication campaigns and marketing collateral for select areas of national interest 5

6 How CCUA will achieve the strategy cont. STRATEGIC THEMES ACTIVITIES CREDIT UNIONS HUMAN CAPITAL CAPABILITIES Build credit union capabilities through professional development and education 1. Develop and extend the current training offering 2. Review the current revenue model and pricing structure of CUSOURCE 3. Increase usage and revenue from training programs 4. Enhance technological capabilities 5. Produce national conferences CCUA S FOUNDATION Solidify CCUA s foundation by enhancing the organization s capabilities 1. Build capacity in data analytics 2. Assess existing capability gaps (e.g., marketing research, member relations) and develop strategies to address them (build in-house / hire / partner / crowdsourcing) 3. Review CCUA s future revenue model (fee based and dues based model) 4. Develop a plan to work with the Centrals to consolidate trade functions consisting of policy/government relations, regulatory compliance, marketing & research, and education where appropriate 5. Assess the value impact of CCUA and enhance communications 6. Assess value of Co-operatives and Mutuals Canada and WOCCU ACTIVITIES TO BE DISCONTINUED 1. Group buying 2. Payment Network Compliance function (dependent on establishment of PayCo) 3. Dissolve the Cooperative EFT Development Association 6

7 What success looks like in the next 3 years

8 What success looks like in the next 3 years STRATEGIC THEMES 3 YEAR OUTCOMES THOUGHT LEADERSHIP 1. Progress toward a shared vision of the future of the credit union industry 2. Visible progress on the consolidation of trade functions, with policy and advocacy fully consolidated in CCUA by year three 3. Visible progress on Payments Strategy Committee priorities 4. CCUA is acknowledged as a catalyst shaping the future direction and structure of the credit union industry POLICY & ADVOCACY 1. Coordinated advocacy and policy support for credit unions at all levels of government across Canada 2. Consistent deployment of regulatory compliance 3. Government / regulators seek CCUA for critical input 4. Credit unions consistently involve CCUA in discussions with the federal government 5. CCUA s views are consistently reflected in WOCCU position papers NATIONAL CREDIT UNION AWARENESS 1. Visible progress on increasing awareness and perception of credit union industry s value proposition 2. Media solicit CCUA for input on key issues 3. Streamlined national communication initiatives to drive impact and reduce costs (e.g. digitial media) 4. Consistent marketing metrics are used across the industry CREDITUNIONS HUMAN CAPITAL CAPABILITIES 1. Credit unions realize value from CCUA s training offering (e.g., reduced risk, increased quality in sales and services) 2. Increased cost savings for the industry 3. Streamlined national conferences and forums across the industry CCUA S FOUNDATION 1. CCUA is perceived by credit unions to add value 2. Credit unions continue membership with CCUA when guaranteed funding ends 3. Increased engagement with credit unions 4. CCUA is known as the go-to source for credit union data 8

9 FY FY2018 Timeline STRATEGIC THEMES FY2016 (MAR TO DEC) FY2017 FY2018 THOUGHT LEADERSHIP Continue work on current thought leadership topics (e.g. payments strategy, bank continuance) Build organizational process for thought leadership Actively participate in 2nd Tier discussions Begin discussion with willing Centrals on closer coordination and possible transfer of policy and advocacy functions Leverage Credit Union Growth and Innovation Committee to identify topics for 2017 and beyond Develop shared vision of future state industry Credit Union Growth and Innovation Committee refresh on topics and execution Develop shared vision of future state industry (continued from FY2017) Provincial and federal policy and advocacy responsibility is owned by CCUA with resources on the ground in the provinces POLICY & ADVOCACY Agree on future state regulatory principles Develop GR Working Group information hub Establish National Compliance Library Develop closer relationship with WOCCU, on international regulatory affairs Agree on vision for future state regulatory framework Establish CHMC Liaison Committee Establish National Financial Literacy Program NATIONAL AWARENESS Conduct National Awareness Study Define credit union industry value proposition Include millennial perspective in awareness research and consultations Define credit union industry value proposition (continued from FY2016) Build, through a collaborative process, national awareness initiatives that will be executed in 2017 and beyond Streamline the initiatives of the CCUA to support national awareness priorities Continue work started in 2017 to increase awareness of Canadian credit unions Leverage CCUA communication and marketing activities to support the awareness work Conduct follow up awareness and perception study 9

10 FY FY2018 Timeline cont. STRATEGIC THEMES FY2016 (MAR TO DEC) FY2017 FY2018 CREDIT UNIONS HUMANCAPITAL CAPABILITIES Develop / extend content in leadership, governance and mobile payments Implement new pricing for HarvardManageMentor Develop / extend content in governance, compliance and antispam Implement new pricing model for Skillsoft Develop web services Leverage national conferences to include provincial events Develop / extend content in governance, and CRS Implement revised corporate membership model Launch mobile payment training Streamline number of national events Hire data analysts Determine resourcing model for member relations functions Build data analytics function Build member relations function Review CCUA s revenue model CCUA S FOUNDATION ACTIVITIES TO BE DISCONTINUED Dissolve the Cooperative EFT Development Association (CEDA) Board Conduct research and determine future model for group buying Transfer Payments Network Compliance 10

11 Summary of enablers, risks & resources Strategy Enablers / Dependencies CCUA will be able to establish and maintain direct relationships with credit unions across Canada Adequate capabilities and resources will be available to support CCUA s increased scope of activities Clear direction will be provided by the Board and Centrals on the timeline to establish a nationally coordinated advocacy function for credit unions CCUA will be able to access resources and subject matter expertise available in the industry (e.g. Wholesale Co.; marketing) CCUA will be able to maintain focus on a limited set of key priorities Key Issues / Risks System initiatives are delayed or abandoned by forces outside of CCUA s control Slow decision-making / governance processes Uncertain timing and commitment on trade services consolidation CCUA may not be perceived by the industry as an authoritative voice on some topics Other entities / groups within the industry may operate in areas that overlap with CCUA s scope of activities (e.g. thought leadership on specific topics, professional development and education) Financial pressures on credit unions lead to reduced funding for CCUA Additional Resources CCUA anticipates the following additional resources will be required over the next 3 years: Data analysts (2 FTEs) Thought leadership support, i.e. program management, research, stakeholder management (1-2 FTEs) Instructional designer (1 FTE - pending development and approval of a business case) 11

12 What is different in 2016 STRATEGIC THEMES ACTIVITIES THOUGHT LEADERSHIP 1. Collaborative effort on developing a shared vision 2. Development of an organizational process to enable CCUA s thought leadership capabilities 3. Targeted discussions with Centrals on the consolidation of trade functions POLICY & ADVOCACY 4. CCUA s CEO will be a board member of WOCCU 5. Establishment of a National Compliance Library 6. National legislative / regulatory policy work will inform provincial government relations efforts CCUA S FOUNDATION 7. Development of a new vision and mission for CCUA 8. Establishment of CCUA s data analytics function 9. Enhanced direct relationship with credit unions 12

13 Martha Durdin President, Chief Executive Officer Korinne Collins Vice President, Professional Development & Education Stephen Fitzpatrick Vice President, Corporate Services & Chief Financial Officer Jennifer McGill Vice President, Communications & Marketing Brenda O Connor Vice President, General Counsel & Corporate Secretary boconnor@ccua.com Chris White Vice President Government Relations cwhite@ccua.com