Leading Through Disruption

Agile, member-focused strategies are helping credit unions adapt and deliver stronger value through change.

By Libby Calderone, Envisant

As CEO and president of a credit union service organization, I have seen constant economic and digital disruptions that challenge credit unions’ ability to adapt while staying true to their mission. But by embracing uncertainty and invoking agile strategies, credit unions have new opportunities to serve members effectively through any change.
 
What does an agile strategy look like?
Agility isn’t just about diversifying your portfolio. It’s about making quick, informed pivots when circumstances change or new feedback emerges. It’s a collaborative process that embraces risk and continuous improvement.
 
Commit to continuous learning
If you want to be ready for the next disruption, start by exploring. Create a culture that allows staff to adapt and contribute to a fast-changing environment by creating opportunities for them to participate in informal and formal industry training opportunities, encouraging them to become familiar with modern tools like AI and machine learning, as well as economic trends and industry news.
 
Listen to members-constantly
Credit unions stand out because of our commitment to members, and to serve them effectively, we need to know what’s most important to them. Part of any new service rollout or digital update should include a strategy to involve the members, using methods like test groups to gain feedback and solve issues more quickly and effectively before a larger release. And in this digital age, we have more tools than ever to help engage and get feedback from members. Surveys, behavior data from websites and service platforms, and even real-time insights powered by AI tools can give us valuable insights into what our members value—during implementation and even beyond.
 
Support innovation
Innovation involves risk—and with that comes uncertainty and the possibility of failure. But being afraid of failure means that staff may avoid thinking “outside the box” and trying new, potentially transformative solutions. So as leaders, we need to support experimenting and taking smart, informed chances. It means that sometimes, there will indeed be failure, but allowing for more innovation and risk-taking can lead to greater agility and success over time.
Here are three ways to start supporting a more innovative culture:

• Promote open communication: Change is a process that begins with resistance. It takes time for employees to exchange the familiar for the unknown. Welcome questions, address concerns, and clearly explain how proposed changes align with your credit union’s service goals. 
• Take small steps: Prioritize short projects so members see immediate improvement while your team works on bigger, more time-consuming updates.
• Overcome the fear of failure: Let your team know you consider failure part of learning and innovation. Use test projects as a low-pressure opportunity for your team to experiment and grow.

 
Collaborate to compete & shape our movement’s future
Between banks and the growing fintech market, credit unions face intense competition. But credit unions have the opportunity to remain agile by leveraging collaborative opportunities. Partnerships with CUSOs or fintechs can help credit unions deliver complex services beyond their normal bandwidth. Credit unions can also collaborate with each other—sharing ideas, resources, or even collectively funding fintech start-ups designed specifically to meet members’ needs.
 
And don’t forget advocacy. Participate in townhalls, connect with representatives, and take advantage of events hosted by your league or association to help policymakers understand the importance of our mission. Laws and regulations shape the future of our movement, and a unified voice makes a powerful impact.
 
The bottom line
Change is inevitable. But an agile strategy based on continuous learning and member-centric innovation can help credit union leaders guide their teams through ongoing economic and technological shifts to serve members all the more effectively.
 
Envisant is a credit union service organization helping credit unions across all 50 states achieve their vision. The Envisant team brings experience and expertise to all areas of credit union service. Their forward-thinking product strategy features credit and debit programs, CUMONEY® Prepaid Visa® reloadable and gift card programs (both plastic and virtual), portfolio development consulting, agent credit card programs, ATM services, marketing and more.