Planning for our Future

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Shell Employees’ Credit Union: Member Update
Published 11 December 2017

Wishing you a safe holiday and a prosperous New Year.

We absolutely cannot believe that 2017 is already coming to an end. Thank you for engaging with us in record numbers this year as we make some big decisions that help us to enable growth and continue to put member needs first.

Before 2018 we wanted to update you on the progress of our research and latest progress.

Staff and Board Interviews: We believe it is so important to take a good look internally as we reflect on what makes us unique, strong, and well-positioned. We engaged a third-party to anonymously interview our staff and board to help us better understand the front lines and what it will take to push us to the next level. Everyone interviewed voiced excitement over the ability to adapt to a changing marketplace.

Credit Union Discussions: Did you know that there are a number of small and medium-sized credit unions who have had similar conversations like the ones we are having right now? We were given the opportunity to talk with four of them to find out the strengths, weaknesses, opportunities, and challenges of their transition to different names, brands, or business models. It was terrific insight, and we are already applying those learnings to the way we are approaching our next steps.

Focus Groups: Insights Matter has now completed our focus groups. We were so encouraged by the fact that so many of you thought it was important to participate. Thank you to everyone who put their names forward – and all of those who were given the opportunity to participate. The groups were well balanced – we know our membership is diverse and we wanted to reflect that. The full analysis of findings will be presented to the Board in January, and we will share key findings with all members via email in the New Year. 

Engaging Experts: We continue to build a strong team of experts around our table. We issued an RFP for creative services to firms with experience in the energy and financial industries. Final decisions will be made before the holidays so we can begin to discuss the next steps towards building a strong brand that will enable a strong future.

Future Vision Committee: We have formed the Future Vision Committee which will be the stewards of the process over the next several months. The Committee will have representatives from our Board, Membership, Staff, Management Team, RDS and other key energy companies, our expert consultants, and other non-member stakeholders. We will introduce the committee in the New Year and look forward to working with each member so we can ensure our process prioritizes all perspectives through the process.

The Board will continue to guide next steps in preparation for our AGM in 2018.  Final decisions on our direction forward will require a member-wide vote. We will continue to update you on progress along the way – and we want you to feel free to reach out to us with your questions, comments, and encouragement too. Contact us anytime.

Thank you for being amazing members. Happy Holidays!

Your SECU family.

 

November 2017 Update Expand/Collapse

We are so excited for our future!
Published 7 November 2017

The Board’s 2017/2018 planning session in September helped to provide clarity for our next steps. The summer member survey told us that you were willing to support us as we planned for a successful future and the Board’s direction echoed that sentiment.

The SECU management team is undertaking a BIG research project – we are ensuring we get a full viewpoint of all the angles as we create a path forward for our future together – and we have to admit, we are very excited!

We are talking to credit unions from across Canada to learn about the successes and challenges they faced as they moved towards a sustainable future; we are having interviews with staff and board members to better understand their frontline impressions of our opportunities; we are studying and engaging experts on marketing, branding, and communications; and we are asking for your help once again.

SECU has partnered with Insights Matter to dig deeper into the opinions you shared with us this past June and July. They will be facilitating a number of focus groups – focus groups allow us to have in-depth conversations with our members to best understand the priorities that matter to them as we determine our next steps. You will see opportunities to participate announced in the coming weeks.

The results of our focus groups, and our BIG research project, will be presented back to the Board in early December. At that time, the Board will guide next steps in preparation for our AGM in 2018.  Final decisions on our direction forward will require a member-wide vote.

We will update you on progress along the way – and we want you to feel free to reach out to us with your questions, comments, and encouragement too. Contact us anytime.

In the meantime, we have put together this FAQ document that should address your most immediate questions We are committed to communicating and ensuring all members are an active part of this process every step of the way.

We continue to be committed to ensuring we make the right decision to enable growth for all members. Talk to you soon.

Thank you!

Your SECU family

August 2017 Update Expand/Collapse

Huge results! Over 1,300 of you shared your opinions!

Published 22 August 2017

Huge results! Over 1,300 of you shared your opinions with us this summer by participating in our member opinion survey. Thank you for your sharing your ideas for the future with us.

The survey launched June 12 and closed on July 12. Members were notified about the survey through email notifications, automated phone message, personal emails and phone calls from staff, posters and postcards distributed at branches, on social media, through our website and e- newsletter, on the Royal Dutch Shell Intranet, and on the Oil Timers website.

The results have been presented to the Board and will help to inform the 2017/18 planning session so that a strong plan can be built to help ensure a successful future for the credit union. Your responses about our services, name, membership, and future were encouraging. In summary, the results demonstrate four broadly supported points of view:

  • Affiliation with RDS was a main reason for joining SECU but is not a reason why members continue to bank with SECU - competitive rates, services, and products are consistently the reasons behind member loyalty
  • While members remain split on the importance of changing the name their decision to remain with the credit union after a name change would not be affected
  • An overwhelming majority of members understand the need for opening membership to enable growth for a successful future
  • Maintaining exclusive affiliation with Royal Dutch Shell (RDS) is unimportant to a large majority of members when considering the changing economy in Alberta

The survey results reflect a strong mandate for strengthening SECU’s growth potential by updating its brand and opening up membership to a broader pool of Albertans, specifically those that are part of the energy industry.

Before the Board’s 2017/18 planning session we will embark on a series of focus groups to better understand and explore the opinions shared in the survey. We are committed to keeping this dialogue about our future open; do not hesitate to contact us with your ideas. Final decisions on our direction forward require a member-wide vote.

We are committed to ensuring we make the right decision to enable growth for all members.

Thank you!