How SRP Federal Credit Union Built An Annual Budget and a Five-Year Plan in One Model
SRP Federal Credit Union wanted to connect annual budgeting with long-term strategy. Using BankBI's Planning, Budgeting and Forecasting application, they built a finance committee–approved 2026 budget. Then, they extended it into a five-year strategic plan, giving leadership one trusted model for confident decisions and clear direction for the future.
The problem
A Budgeting Process Out of Step With How SRP Needed to Plan
SRP faced similar challenges familiar to many credit union finance teams. Their budgeting process was manual and spreadsheet-heavy, making it slow to test assumptions or model different scenarios. It was also difficult to clearly link the annual budget to long-term strategic goals, so finance committee and board discussions ended up focused on validating numbers rather than evaluating strategic options.
SRP wanted a planning approach that was faster, more transparent, and better aligned with governance and strategy.
The solution
One Platform for Budgeting, Forecasting, and Strategic Planning
Controller Karen Key and Financial Manager Elizabeth Blitch built SRP's 2026 budget in BankBI. Working from live financial data, they:
Applied driver-based assumptions for income, expenses, staffing, and growth
Modelled scenarios to test assumptions
Produced board-ready outputs the finance committee could properly interrogate
Once approved, that same budget became the baseline for SRP's strategic plan. Karen extended it into a five-year outlook within the same model, testing strategic initiatives and showing the long-term impact of short-term choices.
This resulted in a budget the committee could confidently approve, and a strategic plan grounded in the same trusted numbers.
Once the 2026 budget was finalized, turning it into a five-year strategic plan was a natural next step. Because the model was already built, we could focus on strategy and long-term decisions.
Karen Key
Controller
BankBI changed how we think about planning. Instead of treating the budget as a one-time exercise, we now have a living financial model that supports better decisions and long-term strategy.
Gregory Gibson
Chief Financial Officer, SRP Federal Credit Union
See BankBI in Action
Find out how BankBI can help your finance team move to a single, trusted financial model built for confident decision-making and long-term strategic planning.
Synergy Credit Union streamlined its financial reporting processes with BankBI, reducing report validation time and accelerating access to actionable insights.
