The Significance Of Planning Strategic planning helps your staff and volunteers identify where you are today, and what factors could affect you and your membership in the future. Plans developed through this process meet the planning requirements outlined in NCUA Letter 161. The consultant guides and assists you in analyzing your particular situation. The board is responsible for developing the long-range objectives in the strategic planning.
Management is involved in goal setting.
Standing committees of the board and the Credit and Supervisory Committees should also participate. The consultant facilitates the planning process and will assist each of these groups in developing strategies. Both external and internal sources of information lay a foundation for the effective planning process. External information includes the economic, social, technological and political fields. Lacking competitive information may leave the CU vulnerable.