Excerpt from the CU Journal, June 2, 2014, Michael Bartlett:
"Dr. Brandi Stankovic, partner at credit union consultancy Mitchell, Stankovic & Associates, said CUs need to manage their vital margins by taking a fresh look at themselves, and prepare for leadership transitions as baby boomers continue to retire.
As the U.S. economy has slowly recovered from recession, Stankovic pointed out many people are working more hours for less money.
"On top of that, credit unions are getting hit by new regulations that inhibit growth and take away resources," she said. "The vital margin is about looking at the margin and making it a commodity."
Stankovic suggested the process begin by someone in upper management taking a blank piece of paper — perhaps the CEO going outside the CU for an afternoon to reflect — and deciding what to do to save the credit union....."
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