Channel Growth Drives Shift in CU Lending Strategies: Slide Show
For many credit unions, growth opportunities in the lending space continue to be the prime area to target.
Over the next five years, credit unions expect their loan balances to increase, according to Lending Strategies and Trends, a CUNA Mutual Group research paper. Indirect lending, for instance is starting to emerge again as lenders competing with credit unions start to come back into the arena.
Meanwhile, since the mid 1990s, credit unions have been adding to their channel choices. Areas poised for more growth continue to be in the mobile and online banking categories, according to CUNA Mutual. Business loans and products are also primed for increased activity.
Here's a graphical look at some of the information from that report.