The final weeks of the year can feel like a whirlwind. PTO calendars are packed, inboxes quiet down, and teams are focused on wrapping up projects while reflecting on the year. For credit union leaders, it’s not just about finishing what’s on the table—it’s also the perfect time to take stock, tie up loose ends, and set the stage for a strong start in 2025.
Here are five critical things to focus on before the year wraps up:
1. Audit 2024: Wins, Lessons, and Gaps
Every year tells a story. What does 2024’s narrative reveal about your credit union? Take time to pinpoint your successes, identify where you fell short, and explore the root causes. Did a new digital initiative improve member engagement? Did delinquencies outpace expectations? Understanding your performance isn’t just about celebrating or critiquing—it’s about learning what to do differently moving forward.
- What to Do: Gather your leadership team to reflect on the year. Create a short, actionable list of lessons learned and identify key priorities for 2025.
2. Strengthen Your Delinquency Strategy
The holidays often mean higher member spending—and an uptick in delinquent accounts. Preparing now can help mitigate those balances in the first quarter. Take a fresh look at your collections approach. Are your tools efficient? Are your messages resonating with members? Remember: your collections strategy isn’t just about recovering dollars; it’s also about preserving member trust.
- What to Do: Dive into your 2024 delinquency data. Look for trends, identify gaps, and explore ways to leverage technology for better outcomes.
3. Invest in Your Team’s Future
Your people are your greatest asset, and after a year of hard work, your top performers might be nearing burnout. Before the new year begins, take the time to show your appreciation and ask how you can support them in 2025. Retention isn’t just about recognition—it’s about action.
- What to Do: Schedule brief, meaningful check-ins with key team members. Use this time to discuss their goals, address any challenges, and map out development plans for the year ahead.
4. Walk the Member Journey
Your members expect a seamless, personalized experience at every touchpoint—whether they’re applying for a loan or resolving a late payment. If you haven’t walked in their shoes recently, now is the time. Are there roadblocks that could be smoothed out? Communication gaps that need closing? This exercise isn’t just about troubleshooting; it’s about elevating your member experience.
- What to Do: Assign a team member (or yourself) to test critical interactions, like making a payment or applying for a loan. Take note of what works, what doesn’t, and what could exceed member expectations.
5. Plan Next Year’s Digital Upgrades
When was the last time you assessed your technology stack? Outdated tools not only frustrate members but also hold your team back. Members today expect fast, convenient ways to manage their accounts—like texting for payment reminders or quick, simple payment options that don’t require jumping through hoops. Whether it’s enhancing your website, streamlining internal workflows, or integrating member-friendly tools like texting and self-serve payment portals, tackling these upgrades early can save time—and headaches—later.
- What to Do: Identify one or two digital improvements that could make the biggest impact next year. Start vetting vendors or planning budgets now so you can hit the ground running in January.
Set the Tone for 2025
The end of the year is a pivotal moment for credit union leaders. It’s not just about finishing strong—it’s about preparing your team, members, and strategy for what’s ahead. With a little focus now, you’ll build the momentum needed to make 2025 your best year yet.
