Ratio: Forward Looking to Backward Looking
Too many credit union board members spend too much time looking at what happened last month, last quarter and last year. In the current environment of uncertainty and volatility, directors need to be able to spend as much time as possible on strategic thinking. Looking ahead to your “big picture goals.”
By Kevin Smith
Today we’re going to talk about a new ratio. Yeah, if it’s the credit union industry we do like to talk about our ratios, don’t we?! But this one might be a bit different than the financials that you’re used to seeing.
Let me ask you a question: How much time do you, as a board member, spend dealing with things that are strategic and future oriented? How much of your volunteer time are you using working on, or planning for the “beautiful future”? Dreaming of what your credit union could be and working towards that?