More mergers and more education and awareness were among the top factors that have impacted member use of investment services and products at credit unions in 2009.
The 2010 "Credit Union Retail Investment Study" discovered this trend after tracking data provided by broker-dealers from 943 credit union clients. The study was published Sept. 1 by Callahan and Associates and Snyder Consulting Solutions. The data is grouped into four sections: a global view of the credit union retail investment space, individual credit union data, case studies and a benchmark scorecard.
Since 2005, the number of credit unions with retail investment services programs, as a percentage of the total number of credit unions in the United States, has increased steadily each year from 10.6% to 12.2% by year-end 2009, according to the report. While approximately 12.2% of all credit unions as of year-end 2009 had investment programs in place, the likelihood of having a program in place is related to the size of the credit union.
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