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CEO Roundtable

CEO Roundtable. Focusing on CEO-to- ceo brainstorming. November 6, 2013 at the Frederik Meijer Gardens & Sculpture Park. Welcome!. Chris Butler. Your 2014 Board of Directors. Linda Bodie. Don Mills. Scott McFarland. Dean Wilson. Jeff Jorgensen. Vickie Schmitzer.

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CEO Roundtable

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  1. CEO Roundtable Focusing on CEO-to-ceo brainstorming November 6, 2013 at the Frederik Meijer Gardens & Sculpture Park Welcome!

  2. Chris Butler Your 2014 Board of Directors... Linda Bodie Don Mills Scott McFarland Dean Wilson Jeff Jorgensen Vickie Schmitzer

  3. A Hint on This Year’s Numbers The board’s instructions to our cpa for closing the year Declared 2013 Patronage Dividends: $ 800,000 Standard Patronage Dividend $ 550,000 Bonus Patronage Dividend $ 1,350,000 $ 400,000 Ownership Dividend $1,750,000 Year #4 for a Bonus Patronage Dividend: is this becoming an annual tradition? Projected Stock Dividend: 4.00% Projected Increase in Stock Equity: 13.8%+ These are all projectionsand should be finalized by December based on our CPA’s work...then look for a check!

  4. It’s Been a Great Year... ...now on to 2014! In August, the BOD approved the 2014 Business Plan and Budget This marked the end of our 2014 planning season, and now we’re on to executing the plan – our new year started 10/1/2013 Today’s event is the first in our planning season for 2015 Think about 2015 planning when you are in your roundtable group discussions throughout the day today There are many more events planned for 2014, as part of our 2015 planning season – from our Board meetings to focus groups to all of our education contacts The next major event is our Leadership Conference (June 17-19, 2014 – mark your calendars!) We truly appreciate your participation, and respect your dedication in leading this cooperative

  5. What’s next for the Innovator Investment & Grant Program? Plus...A quick update on last year’s winners A Return to the Roundtable Format Back by popular demand...a full day to interact with your peers on the challenges we all face (And get ready to switch seats after lunch!) Today’s Agenda And now, here’s Randy...

  6. What’s next for the Innovator Investment & Grant Program? Plus...A quick update on last year’s winners

  7. Still alive, but changing for 2014 • How do you make innovation, and investing in innovation, a constant focus and everyday tactic? • It’s easy inside a firm, but harder when you include an entire network New for 2014: • Expanded list of participants • Applications accepted all year long • Faster turnaround • Constant focus of paid professionals here at CU*Answers • Evolution is the point of innovation...so who knows about 2015? Let’s see what last year’s project leaders have been up to...

  8. Flix in the Stix Renee Maeder, Best Advantage CU Held 1stFlix in the Stix event on August 8, 2013 (movie: “The Avengers”) Over 200 people attended Scheduled 3 for next summer Due to weight and bulk the unit requires hand-delivery Other local organizations have asked to rent it – working on rental agreement BACU is willing to rent to any CU in Wisconsin!

  9. Field of Dreams Jenny Bickel, Frankenmuth CU Cooperation among cooperatives –the 7th Principle in action Great community connection and recognition Created a template for other CUs:

  10. Great Debt Pay Down Annie Lepper, Superior Choice CU Great Debt Pay Down Year #1: The average active participant: Paid down $6,107 of their non-mortgage debt Lowered their debt-to-income ratio by 12% One participant saw her credit score increase 133 points The winner paid down $19,000 of credit card debt and lowered her debt-to-income ratio by 39% (she used the prize money to pay down the rest of her debt and set up a Money Market account) Great Debt Pay Down program for other credit unions to use is ready to go Year #2 is already underway with 30 participants

  11. Back by popular demand... A Return to the Roundtable Format

  12. Here’s how it will work: • Topics 1 & 2 will be before lunch (12:00p), then 3 & 4 after lunch (1:15p) • There’ll be extra time for networking between questions • Scribes will take notes for your group • Notes from all groups will be posted by Nov. 15th on the CEO Strategies website • Choose a spokesperson in case your group is selected to give a summary report 4 questions: 1 hour each These are intended to spur conversation . . . Randy’s not always right! Get ready to switch tables after lunch

  13. Growth 1 RK says, “Move to low-cost communication tactics, create a buzz as often as you can, and respond in new channels. Begin to pivot your strategy away from yesterday’s standards as quickly as you can.” What tactics are you counting on for growth today and in your future? What is your approach to... • ... traditional, organic growth? • ... growth through balance sheet alliances and mergers? • ... growth through finding new opportunities in the networked world? • ... growth through internet strategies and tactics? RK says, “Find advantages with players like CU*Answers that will participate in your having a financial advantage over other credit unions in buying a new market.” RK says, “It’s not technology. It’s a commitment to migrate your priorities to this channel. Budget big and spend the money so that any time anyone thinks about you, they go to the internet.” RK says, “Hunt for big opportunities and find partners to make collaboration a business for things that are beyond your reach.”

  14. Compliance & Examinations 2 RK says, “Focus on being proficient at internet research and develop a network of people who will exchange what they know for what you know.” How are you planning to overcome mounting pressures related to compliance and examinations? What is your approach to... • ... keeping on top of whatever everyone else knows (or should know), and doing it faster and cheaper than your competition? • ... responding to new regulations and examiner comments with minimal disruption and maximum return on your investment? • ... executing once you have a solution? • ... managing your relationships with examiners and third-party commentators? RK says, “If it doesn’t pay to fight, don’t fight. But know the difference between capitulation and compromise. Build native solutions with CU*Answers and spend as little as possible to respond to regulatory mandates.” RK says, “Do not add direct resources when you can add a shared one. Create and participate in networked auditing resources instead of adding a new vendor or teammate.” RK says, “Design and manage the encounters. Use exam protocols and teach the examiners the best way for the two teams to work together. Plan to reduce your costs each time you interact. Consider hiring a shared resource for managing and coordinating exam and audit contacts.”

  15. Time for lunch!Back at 1:15 – pick a new table! And haven’t you been wondering about these?

  16. Mobility 3 RK says, “When it comes to mobile, it’s the wild, wild west. Hedge your bets and spread your money across the board. Don’t lock in too early, and be ready to change.” How will you deal with “mobility” and the effects of mobile devices in your marketplace? What is your approach to... • ... the mobile member as a consumer? • ... the mobile member as an owner? • ... the mobile employee? • ... the mobile executive? RK says, “This could be a real game-changer. Include your volunteers and every active owner in behind-the-scenes data that makes owning a co-op real.” RK says, “Balance their expectations between what they can do in their everyday life with what they can do at work. Use their skills. Build solutions that are intuitive for the average mobile employee.” RK says, “Connect the dots. Build tools that allow insight, auditing, and catalysts for getting connected with the day-to-day teams and what members need.”

  17. Marketplace Challenges 4 RK says, , “Avoid selling out your future for what appears to be today’s immediate priorities. Resist the urge to compete at any cost, only to find yourself out of balance down the road. Concentration risk is not just a lending theory.” How do you respond to these classic marketplace business challenges? What is your approach to... • ... the rising interest rate environment? • ... competition for member loans? • ... big data and the pressure to figure it out? • ... influencing regulators and lobbyists? RK says, “Work harder at getting new loan applications than you do approving poor ones. Find the key success factor in lending from the big picture. Do not overspend on anything off that path. Get over yourself and participate in the opportunities of others, and vice versa.” RK says, “Use the power of grassroots efforts. Exercise your own voice before you sell out to a hired gun. When you hire a hired gun, make sure he knows as much about your game as he does getting along in the political game. Be an antagonist without being an anarchist.” RK says, “Get focused on how you use your data, before you buy tools and consultants and use everyone else’s data. Understand the ideas before you invest. Be a smart buyer of big data hype.”

  18. Wrap-up • Scribe notes will be compiled and posted on the CEO Strategies website no later than Friday, November 15th http://ceo2013.cuanswers.com/

  19. Wrap-up • Consider this challenge to the CU*Answers Board at the August Planning Session: • As fellow CEOs, as my peers and the Board’s peers, consider what this means to you as an owner of the CUSO • Then be ready to participate in our 2015 planning season, and all of the events where you’ll have the chance to add your voice “What if the network has already written 95% of the technical concepts that will ever be needed by 95% of our client participants? “What if the CU industry already has 95% of all the technical tools that will ever be needed by 95% of all credit unions? “What if over the next 10 years we have to look to new concepts to invent revenue extensions that fuel our ability to disruptively control prices and take on new investments for our community (network)?” I hope that March 25 & 26 are dates when you’re planning to make sure your voice is heard...

  20. March 25-26, 2014 Mark your calendar now! 2014 Special Event Tuesday, March 25 Accounting Top 10 Focus Group (meeting #3) Working with CU*Answers developers to prioritize, envision, and deliver new CU*BASE accounting tools CFO Strategies Roundtable (inaugural meeting) A networking session for CFOs and accounting leaders, to discuss financial issues related to credit unions and the solutions within our network Wednesday, March 26 2014 CUSO Pricing Focus Group (meeting #3) Discussion with CEO Randy Karnes on CU*Answers’ pricing trends, challenges, and potential future solutions Interact with CU*Answers Board and senior leadership on how CUSO pricing designs affect CU budgets and operations Learn what potential changes your CU might consider for business plans for 2015 and beyond

  21. Thanks for the day! ...and for the week!

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