Credit unions have a lot to feel good about, and this time of year makes it easier to recognize even when times are tough in general. Credit unions are beginning to distribute member dividends and new membership signups are rolling in at a pace credit unions have not experienced in a very long time.
According to data from the California Credit Union League, 160,408 new members joined between Oct. 1 and mid-November. In the first nine months of the year, new member signups in California were 15,500 per week, but reached 26,735 since then, an increase of 72%.
Credit unions nationwide are experiencing similar boosts. Don't let it fade away as a one-off event. Keeping and developing new members with excellent products, service and value has to be a priority. Even the best of credit unions can improve in some way, so identify something, fix it or improve what's there, and then tell your members.
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