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Cornerstone Announces Strategic Assessment Initiative for CUs
Monday, April 17, 2017 7:00 AM

The Cornerstone Credit Union League is announcing the release of another Cornerstone member-exclusive benefit for 2017.

The Strategic Assessment Initiative, or SAI, was the inspiration of Cornerstone’s board of directors and is a self-assessment tool that credit unions can use in conjunction with their most recent examination report. The tool is designed to help the user identify areas of need and lead them to the appropriate resources, including potential new product and service opportunities.

This online tool will provide a snapshot of financial performance and allow credit unions to compare their ratios to peers. This site also offers an insightful presentation titled “How to Impact Key Ratios.” The presentation provides industry standards for 11 ratios that address the key financial areas of capital, asset quality, and earnings and addresses the factors that adjust the outcome of each ratio.

In addition, the Strategic Assessment Initiative offers a robust library of resources credit unions can utilize to enhance their operational effectiveness. The library is categorized into eight critical focus areas:  financial, lending, compliance, human resources, business continuity, technology, marketing, and volunteers. Within these categories, credit unions have access to numerous resources, tools, educational opportunities, and vendor information.

Karen Hart, Cornerstone’s EVP, CFO, and chief member services officer, says, “The Cornerstone League is very pleased to offer the Strategic Assessment Initiative to our members. This is yet another example of the commitment Cornerstone has to serving every credit union, and I am confident this tool will ultimately help credit unions even better serve their members.”

The Strategic Assessment Initiative will be available on April 17 and can be found under the “Services” section of the Cornerstone Credit Union League’s website. Your Cornerstone username and password are required to access your credit union’s data and the library of resources.

If you have questions about this initiative, please contact SVP Credit Union Relations Mike Delker at 469-385-6826 or mdelker@cornerstoneleague.coop;  VP Credit Union Relations Greg Robertson at 469-385-6829 or grobertson@cornerstoneleague.coop; or VP Small Credit Union Development Lorri Gaither at 469-385-6423 or lgaither@cornerstoneleague.coop.