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Solutions Centre’s Role in Strengthening BC Credit Unions: “Alignment”

Solutions Centre’s Role in Strengthening BC Credit Unions: “Alignment”. Doris Good Kasia Chudleigh Julian Pattison Sam Malik Rolf Lyster. Video: Alignment. http://www.xtranormal.com/watch/12817353/solutions-centre. Competitive Landscape. The market is a battlefield

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Solutions Centre’s Role in Strengthening BC Credit Unions: “Alignment”

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  1. Solutions Centre’s Role in Strengthening BC Credit Unions:“Alignment” Doris Good Kasia Chudleigh Julian Pattison Sam Malik Rolf Lyster

  2. Video: Alignment http://www.xtranormal.com/watch/12817353/solutions-centre

  3. Competitive Landscape The market is a battlefield The increased costs of technology, compliance, personnel have put a squeeze on firms that lack scale

  4. The Value Chain Support Services Operations Marketing and Sales Customer Service Margin Rivals are performing value chain activities more cheaply A company should not perform any value chain activity that others can provide more efficiently

  5. Strategic Alternatives: Pick your Poison Go It Alone Acquire Smaller Credit Unions Be Acquired and Assimilate Merge into One Entity but Maintain Existing Storefront À la Carte Shared Services Comprehensive Shared Services

  6. Go it Alone Organic growth alone a risky proposition

  7. Mergers and Acquisitions Unless small credit unions find a way to increase income and reduce operating expenses, they are in the midst of a slow motion self-liquidation Consolidation is forecast to continue

  8. Shared Services Business Model Stronger Together Shared services business models are designed to promote efficiency, value generation, costs savings and improved service for all participants through collaborative efforts.

  9. Current Business ModelÀ la Carte Shared Services Economically timely model Pockets of collaboration lead to fragmented efforts Benefits of Economies of Scale

  10. Comprehensive Shared Services Business Model Move from independence to interdependence Success of Credit Union Service Organization This one gets you more, but is harder to do – you must be willing to relinquish some control

  11. Recommended Approach Need 100% 61% OK Comprehensive Shared Services Not limited to back-office functions You can’t be a strong team when the players change for every initiative Alignment > Numbers

  12. Moving forward 28% Lack of commitment 39% Fear, lack of trust Trust

  13. Crawl, Walk, Run

  14. A Solid Platform TRUST Lead by Example Open Dialogue Group Dynamics

  15. “Joined Together” “Self-Sufficient” Vision Thesaurus synonyms: • Link • Connect • Stick together • Unite Thesaurus synonyms: • Independence • Self-reliance • Self Support • Autonomy

  16. How Can Members Feel Safe to Join Forces? Solutions Centre

  17. Stated Vision of Solution Centre …to provide cost effective solutions for the credit unions to enhance and strengthen their business practices and operations

  18. True North What is Their Ultimate Goal? • Specific to the organization • Communicate Philosophy … such as caring, cooperation and community • Create a visual image of where you are going • Differentiate you from your competitors …Inspirational

  19. Achieve Buy-in • Seek alignment to accomplish efficiency in operations • Increased competition: Reduce cost without compromising quality • Develop overarching strategy and common vision through Lean Management

  20. Share Information • Information sharing tools and techniques required • SharePoint: share, store and manage information • Reinforce individual brands, but strengthen philosophy of products and services jointly

  21. Continuous Improvement • Collaboration is not a static process:it requires continuous improvement • Strategy to achieve a higher-level goal • Collectively support decisions made by members

  22. Concluding Call To Action • Big problems require commensurately big solutions • It is time to transition from crawl to walk and run • This will enable more cohesive and pronounced action Many BC credit unions are operating independently with an unsustainable business model

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