A Lot of LICU Designations: A Lot of Possibilities
So you received your NCUA low-income designation ... now what?
If yours is one of the NCUA's newly designated low-income credit unions, congratulations!
Understand the financial needs of your membership and community
It’s important for low-income designated credit unions to understand what financial services their members (and potential members) need and are already using. Don’t fall into the trap of thinking “they should be using ...” Far too many of us are way too judgmental when it comes to understanding what consumers should be doing to manage their finances. No doubt, our members can learn a lot from us on how to best manage their financial resources. But we may never get the opportunity to educate them if we fail to provide the services they are currently using.