Price minus cost equals profit – or maybe not…
Each financial institution is unique in the marketplace, with a number of variables to consider when pricing loans, deposits, and services. But the one common denominator is the bottom-line challenge: you need to be profitable to survive. If 2013 has been a challenging year, this webinar is for you.
A complete walk-through of your costing methodology is like a good car tune-up and should be done periodically. There are many methods of estimating costs and evaluating their impact on the bottom line. In this webinar a simple formula for developing cost is presented. Understanding economies of scale is one of the secrets to good expense and cost control. Whether it is managing direct costs or understanding overhead expenses, this webinar will assist you with expense control. Join us to learn strategies to reduce expenses and benchmarks.
- Easy ways to estimate costs, plus benchmarks for comparison
- What your economy of scale can tell you about strategic options
- Twelve steps to reduce cost
- How to get buy in
- When "rules of thumb” work…or don’t
- How important is hard data?
- What to do when there is no hard data
- The downside to cutting costs
- Three areas you can always cut
- How smart is the competition
- TAKE-AWAY TOOLKIT
- Expense control benchmarks
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
Attendance verification for CE credits provided upon request.
Who Should Attend?
This informative session is best suited for CFOs and finance department personnel.
ABOUT THE PRESENTER – G. Michael Moebs, CPA, MBA, Moebs $ervices, Inc.
Since founding his economic research firm in 1983, Mike Moebs has worked in the financial services industry. As an economist who understands the challenges affecting financial institutions, he’s developed such proprietary services as No Bounce® check management with the patented Debit Scoring® tool. Mike is perhaps best known for his firm’s Financial Services Pricing Survey. The most comprehensive study of its type, the survey collects data from over 2500 institutions nationwide on consumer and business checking accounts, ATM, debit cards, as well as payday lenders and retail merchants.
Prior to establishing Moebs $ervices, Mike served as a bank president, COO of a 14-bank holding company, credit union director, and director of 7 different banks. He received an MBA from the University of Chicago where he studied under Nobel Laureates. Mike received his CPA and undergraduate degree from the University of Illinois – Champaign/Urbana.
|Over $75 million
|$25 - 75 million
|Under $25 million
Scholarships are available for all KCUA education events. Scholarships pay 100% of registration fee for credit unions under $25M, 50% for credit unions between $25-$75M and 25% for credit unions over $75M.