Pure IT Credit Union Service Co-Founders Jack Smith and Kyle Stutzman join Mike Lawson three months after their last conversation, to talk credit union strategy as the business world forges ahead. In this episode of the CU Broadcast, they discuss the fundamental pivot from initial crisis management steps taken in the first days of the pandemic, to what has morphed into a long-term service strategy.
Credit union leadership is planning steps ahead, and many are asking what to do with their technology strategies and budgets while adapting with emerging new community needs. From what began as fast deployments of remote workers and virtualizing financial services has grown into a strategic realignment for the foreseeable future. This is the start of what will be a long-term service evolution, one that will penetrate across credit unions, regardless of size, location, or affiliated membership.
Specially for smaller credit unions, process documentation has proven a vital component to their mitigation tactics. Shared organizational knowledge is crucial for successfully adjusting to sudden changes from both inside the credit union, and externally from the macro business ecosystem. Business Impact Analysis (BIA) has sifted to the forefront of the Business Continuity Plan (BCP) and Disaster Recovery (DR) planning conversations, and is where the culmination of people, process and technology implications converge.
With service as our industrial common denominator, this unique unity fosters the crucial strategic partnerships that enable fast reorganization of resources to overcome current events. Their message is clear, though the path may have changed from what leaders where predicting for 2020, the journey has not stopped.
Strategic moves ahead symbolize incremental footsteps in the credit union’s general direction, and if leaders are keeping a nimble and open mind, technology planning plays a unique role.
For more credit union interviews, please checkout the CU Broadcast with Mike Lawson here: https://www.cubroadcast.com/
Lawson, Mike. “#2154: PURE IT Addresses Post-COVID 2020 -- What Now with Tech Budgets, Strategies, Initiatives, and More...” CUbroadcast, 3 June 2020, www.cubroadcast.com/episodes/2154-pure-it-addresses-post-covid-2020-what-now-with-tech-budgets-strategies-initiatives-and-more.