This article will focus on how what you should be looking for in the Best Performance Management Tools for Credit Unions.
What is Corporate Performance Management? According to the Harvard Business School, performance measurement focuses on four main areas:
- Communicate with external investors to ensure that a firms’ securities are fairly priced and that they are able to access capital
- Measure and Evaluate a firms’ economic performance
- Improve resource allocation and strategy implementation within a firm
- Build Accountability for performance through effective external and internal governance
The emphasis of this article will be on improving resource allocation and strategy implementation, specifically for Credit Unions. Though Credit Unions have evolved over time, their basic function is to take in deposits and reinvest those funds back into the community in the form of loans for such things as houses, cars, education, and infrastructure. Continue reading