Credit Unions

Independent review of the organization’s strategic positioning, quantification of the sources of competitive advantage, definition of renewed aspiration, identification of key gaps and relevant trends, and structuring of tangible initiatives to capture the opportunities and meet the aspiration.

Credit union–wide programs focused on dramatically improving performance, including revenue growth, cost reduction, end-to-end process improvement, and development of a scalable operating model for growth. Typical programs have improved efficiency ratio by seven to 12 percentage points while accelerating growth, improving customer experience, and building employee capabilities.

M&A readiness and post-merger management across dimensions, including strategy, synergistic value capture, operating model, culture, organizational health, and overall planning.

In-depth assessment, prioritization, build out, and adoption drive of the organization’s digital capabilities, including evaluation of current capabilities against peers, development of the new digital capabilities road map, and a build-out of new capabilities co-led by McKinsey’s product managers, technical architects, software developers, and customer experience strategists in an agile format with client teams.

Accelerated agile war rooms approach to driving revenue growth, along with a culture change in sales and marketing, focused on prospecting growth and increased conversion powered by advanced analytics and digital marketing.

Development of an end-to-end technology-modernization strategy, which includes options and trade-offs for the core banking systems, development of target-state IT architecture, exploration of opportunities for the application of AI and gen AI, cloud strategy and migration paths, data governance, and enterprise-wide agile operating models.

Supported a holistic end-to-end transformation, more than doubling net income in a year while boosting organizational health to top quartile.

Drove a double-digit percentage point increase in credit card sales focused on digital channels, redesigning the card product and value proposition, standing up a marketing war room to accelerate offers, and leaning into AI optimization for growth.

Orchestrated pre-merger diligence and post-merger integration, including value capture and overall planning, resulting in a substantial improvement of financial performance, customer experience, and organizational health.

Performed gen AI–enabled analytics on member calls to understand granular root causes and automation opportunities, and identified significant effectiveness, member experience, and efficiency opportunities.

Supported the core modernization effort end to end, spanning core banking selection, target state architecture design, product solution design, test planning, dress rehearsal, and the overall minute-by-minute plan and command center support covering the cutover weekend.

Crafted a multiyear strategy, including defining the aspiration, identifying gaps and building key initiatives, and embedding an execution mindset to capture the identified opportunity.