The most admired "Best Practices" typically aren't born that way. They begin as ideas, are implemented, and then evolve as lessons are learned, new ideas added, and revisions made.
Case in point is The Credit Union Journal's Best Practices issue. This year will mark the third year The Journal has recognized credit unions for best practices across a spectrum of disciplines. But this year, too, based on reader feedback and suggestions, we are altering the Best Practice format to allow not just more credit unions to participate, but to be more inclusive of the numerous Best Practices credit unions have grown organically that may not fit into rigid, predetermined categories.
The Credit Union Journal invites entries into our Best Practices issue, which will be published Nov. 7. Nominations may be submitted by credit unions on behalf of themselves, a CUSO or even another credit union.
For all readers, the Best Practice nominations are a means of recognizing those unsung heroes who have developed an idea and brought it to fruition.
Nominations can also be submitted by the numerous suppliers to the credit union community that have clients they believe exemplify the best in implementing a particular product or service, whether it be at the retail level or in the backoffice.
Categories Are Open
In no particular order, The Credit Union Journal is soliciting your Best Practices in IT Security, IP Telephony (VoIP), member segmentation or member relationship management, lending, deposit or savings programs, business development, branch strategies, facilities, technology implementation, HR/Training, investments, operations/backoffice, governance, corporate credit unions, ALM, business services/member business lending, and, of course, the "other" category for that unique idea your credit union has put in place.
Finally, readers stressed that The Credit Union Journal's Best Practices recognition program should be sure to include what we're calling our Duct Tape Category, those cheap ideas done on a shoestring that have nonetheless delivered solid results.
The criteria can be found in the box, above right. The Credit Union Journal's editorial staff will then evaluate the nominations, select the credit unions that exemplify the Best Practice, and then profile those winners in the Nov. 7 issue.
The Journal has deliberately made the entry process as simple and easy as possible. So take a few minutes, and make a best practice out of entering The Credit Union Journal's Best Practice program.
This is your opportunity to recognize not just your credit union, but some of the people within the organization who have improved the operation to the benefit of members.
1. Identify a program implemented at your credit union (or for suppliers, at a client CU) since May 1, 2004 you believe is worthy of being recognized as a best practice.
2. In 500 words or less, describe what it is you did and why you believe the program or steps put into place qualify as a best practice within credit unions. The nomination essay should include as many tangible measures as practical (including ROI where available) documenting the best practice; the background on environment prior to the implementation of the best practice; and factors driving adoption of the best practice, and any new products/solutions deployed to achieve the best practice.
3. Identify the category in which you feel you're a best practice (see suggested list at left) along with your asset size category-$50 million or less, or $50-million and more.
4. E-mail your submission to Frank J. Diekmann at fdiekmann
