A New Product Playbook Is Driving Change At Premier Credit Union

Members have never had more options when it comes to financial products, and that’s pushing some credit unions to rethink where product strategy lives in the organizational chart.

In Iowa, Premier Credit Union ($355.2M, Des Moines, IA)  sought to be proactive by introducing a dedicated products department. The organization realized it did not have a consistent, enterprise-wide method for evaluating and prioritizing product ideas, and alignment was limited when executing complex initiatives.

Leah Oneyear, director of project management and product development, says the organization’s core conversion last year was a key driver.

“It pushed us to think beyond implementation and focus on how we would best leverage our new technology going forward,” she explains.

Premier realized implementation alone wasn’t enough. The bigger challenge was how to intentionally leverage new technology after that.

Don’t stop here. Looking for another perspective on product management and development? Bay Federal Credit Union recently added a chief product officer to its executive team. Read more today.

A New Strategy Requires New Structure

Today, the products department is a lean team of Oneyear and a project specialist who report to COO Jill Matthew. This design was intentional and is intended to scale over time.

Despite its name, the team does not “own” products. Instead, it relies heavily on partnerships with subject-matter experts across the organization, from lending and operations to marketing and IT.

“Rather than leading projects or products outright, the team provides structure, governance, and coordination,” Oneyear says. “Previously, we often evaluated product ideas and enhancements within individual departments, which could lead to competing priorities or a more reactive approach.”

In this new enterprise framework, the credit union no longer evaluates product ideas in silos, which helps leadership and other teams stay aligned on what the organization is working on, when, and why. Premier can sequence work based on impact, capacity, and timing. Oneyear says Premier’s current areas of focus include business member support and communications, Spanish-speaking access initiatives, and a formalized referral program.

“To determine what product work to prioritize, we work collaboratively across the organization to gather ideas and incorporate member feedback,” she says. “We evaluate those ideas using a consistent scoring approach that considers both implementation effort and overall impact — for the credit union and for our members.”

Measuring Success Today And Beyond

If there’s a strategy, there are metrics to track. Oneyear says these goalposts tend to evolve as products mature, but at the end of the day, it’s about the members.

“Our goal is to solve real, meaningful needs, not just introduce new products for the sake of change,” she says.

At the most basic level, that means focusing on adoption.

“If we launch a product or program that looks good on paper but isn’t being used by members, then we haven’t been successful,” Oneyear says. “Members come to us at different points in their lives and with different financial realities, so products should feel relevant, practical, and clearly helpful.”

According to the director, when the credit union engages with and supports members in ways that fit their preferences, it reinforces trust and helps the credit union ensure its products deliver the financial benefits they’re intended to.

Now that Premier has a foundation to build on, Oneyear says the credit union is prioritizing momentum around alignment and visibility.

“As with any organization refining its approach, there will be some growing pains, but the goal is to make the work feel more coordinated and scalable over time, not more rigid,” she says. “If priorities feel clearer, execution feels smoother, and teams have greater confidence in how work moves from concept to delivery, that would represent meaningful progress.”