When Strategy Begins to Die: What’s Keeping Credit Union Leaders from Improving the Member Experience

Although credit union leaders recognize the importance of the member experience, they fail to implement their member experience strategy promptly and decisively. 

I’m sure you’ve done the dance when you’re not hitting your growth goals: you identify your biggest challenge, collect the data (oh so much data!), try to figure out what the data is telling you, determine your priorities, then develop a strategic plan for resolving what is holding you back.

And then, instead of moving forward, you hesitate. You wait for the next report, the next cycle, the next change in the weather.

And that, my friends, is when strategy begins to die.

CX Strategy Sits on the Shelf

Credit union leaders across the country recognize the critical importance of delivering an exceptional member experience. In survey after survey, these leaders rank member satisfaction and loyalty as top strategic priorities. They acknowledge that member experience is a key differentiator in an increasingly competitive financial services landscape, where traditional banks, fintech companies, and digital-first startups elbow each other for consumer attention.

 
But…


Despite this reality, many executives fail to act promptly and decisively to improve their credit union’s member experience, leaving a significant gap between their strategy and its execution. Needless to say, where strategy is not implemented, desired outcomes do not occur.


And if more evidence is needed as to why there are so many failed and dying strategies, enter Filene and Velera. In their recent report, Filene observes that many credit unions lack the commitment to take the next logical step – to bridge the “implementation gap” between their vision of success and predictable goals:


“Knowing what needs to be done and accomplishing it are not the same thing, and credit union leaders are learning that outlining a good strategy is not enough to succeed in today’s financial services marketplace, and credit unions are increasingly experiencing this gap between knowledge and action. Credit unions have ambitious goals and recognize the challenges of an increasingly competitive market and shifting consumer expectations. They are not short on strategic vision, ideas, data, or plans to drive innovation and growth. Instead, in 2024, credit unions have found that their main challenge is moving from setting a strategic vision to implementing it successfully.”


If you’re in the leadership of a credit union challenged with moving forward on strategy, you know the result: you reach year-end not having delivered on the goals you and your board set out for the credit union. Of course, no leader wants to be in this inconvenient place. So, what has to change for THIS year’s results to come in on the winning side?

Executing on Member Experience

Strategy, after all, is not in short supply. Instead, it is the innate will to take action on that strategy where credit union leadership is coming up short. Let’s remember this uncomfortable reality: even strategy has a shelf-life, and waiting too long can render even the best plan ineffective.


Credit union leaders have crowned employee experience and customer experience—oh, and let’s not forget the digital user’s experience—as their ultimate pass/fail metrics of success. Bold declaration! But here’s the twist: they’re still dropping the ball when it comes to capturing relevant member data or using comprehensive solutions to actually predict and align their organization with those prized member experiences. Translation? They’re not doing the job they were hired to do.


To bridge the gap between ambitious strategy and real-world action, credit union leaders must move beyond talking points and adopt a proactive approach to member experience. It’s not enough to declare that “the customer is #1” and hope for the best—real change requires embedding member experience into the organization’s mission, vision, and strategic goals, with clear accountability for results. That means leaders must answer key questions:

  • Who is specifically responsible for resultswho owns it?
  • What does success actually look likewhat is the target?
  • What resources and milestones are in place to achieve thiswhat are the milestones on that path?


Remember, this is about more than intentions—it’s about delivering measurable outcomes.

So once you’ve set the foundation, here’s how you follow through:

  1. Empower Your Team: Invest in ongoing employee training to build a culture of empathy, collaboration, and accountability, ensuring everyone is aligned with delivering exceptional member experiences.
  2. Listen and Act: Use continuous member feedback to identify pain points, respond quickly, and transform frustrations into loyalty and advocacy.
  3. Measure What Matters: Define KPIs, track progress, and have a method that uncovers the root causes behind the numbers to drive meaningful improvements and maintain focus.

Resolve to Take Action – Today

Success isn’t a mystery—it’s a necessity. If you’re not advancing your strategy, you’re already losing ground. Credit unions cannot afford to miss the mark for another year. Acknowledging the critical importance of member experience is just the starting point.


Taking bold, concrete actions to enhance satisfaction and loyalty is what will determine your future. Done right, it’s not just about keeping up—it’s about securing your relevance in an industry that won’t wait for you to catch up.


Stop waiting for change—start leading it. Evaluate your member experience strategy today, identify where you’re falling short, and take decisive action. It’s time to step up, stand out, and secure your relevance in a rapidly evolving industry.


The clock is ticking—let’s get to work.

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