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The Pentecostal Credit Union Business Plan 2014 -2017
The Pentecostal Credit Union (TPCU) has earmarked the period between October 2014 – September 2017 as a key period for the development of the credit union in terms of growing its membership and growing its business.
Since the (then) FSA censure in 2012 TPCU has made tremendous strides in getting its business back on track. A new Board is in place. Directors with a wide range of skills, from the banking world, accountancy, regulatory bodies and human resources background have been recruited to serve on the Board.
A new staff team is in place and further reviews of staffing will take place as the objectives of the Business Plan are realised.
The objectives of the Business Plans fit within the Mission, Vision and Values of TPCU.
TPCU’s vision is to be a credit union that reflects the Pentecostal faith and that builds communities through providing excellent financial services.
TPCU’s mission is to provide contemporary and competitive financial services tailored to meet the needs of its members; to be an organisation with an approachable personality, underpinned by an ethical ethos, delivering services with a personal touch.
Transparency – in products and decision making
Connecting with the members – ensuring that the interest of the members is at the heart of everything we do
Integrity and working ethically – acting with honesty and ensuring that we do not exploit our customers, delivering ethical products and services that build trust
Fairness - acting and being seen to act justly and responsibly
Customer First – providing the personalised customer service and care that members want
Flexibility – providing a responsive and accessible service to meet individual needs
The priorities for TPCU over the next three years are Growth, Renewal and Improvement.
Grow the business by:
o Implementing a multi-faceted marketing strategy with the primary objectives of growing the size of the membership and increasing the volume of loans;
o Grow savings;
- Utilise the opportunities presented by being a member of the Credit Union Expansion Project (CUEP);
- Exploring and capitalising on available funding initiatives as they become available; and
- Keeping abreast of government initiatives.
Renew the business by:
o Rebuilding TPCU’s reputation and establishing a positive public and on-line presence;
o Refurbishing the office by May 2015 to make it more accessible and welcoming. We will be re-dedicating the building to the service of TPCU and use the opportunity to re-launch the credit union;
o Settling the on going ‘high profile’ legal case;
o Celebrating 35yrs in business with a high profile promotional member’s event in 2015;
o Becoming a leader and influencer in the credit union sector
Improve our systems and services by:
o Quarterly reporting of Management Information (MI) and business statistics;
o Building the skills and knowledge base of the staff team as the business and membership of TPCU grows;
o Continuing to outsource an internal audit function and implementing the recommendations arising from the internal audit reports;
o Continuing to risk assess all critical elements of the business and mitigate against those risks;
o On going review of the policy and procedures manual;
o Setting up a Members Advisory Group to ensure that TPCU continues to meet its members’ needs;
o Building on the success of Instant (capacity based) lending that was launched in October 2013;
o Undertaking a full analysis of current and potential members’ needs;
o Improving our online presence with a new, fully functional website;
o Extending online loan and membership applications to include full utilisation of social media; and
o Achieving the Silver standard of Investors in People
The principal focus of growth through renewal and improvement, while maintaining the ethos of the Pentecostal faith is paramount to TPCU.