When it comes to the barriers that tend to prevent a credit union’s business services program from thriving, a lack of knowledge from staff appears to be ranked the highest.
The $197 million North Jersey Federal Credit Union, along with others, will convene to help small businesses in the Garden State.
Since March 2010, Ohio’s credit unions have boasted a $23.7 million gain in member business loans.
Aite Group session next Wednesday to follow up on survey of 83 credit unions conducted this past winter.
Despite having a small percentage of business members, some credit unions believe they are now better positioned to grow their penetration in the small business market than they were prior to the start of the financial crisis a few years ago.
Members of Christian Financial Credit Union will get the chance to pitch their business ideas through a new contest.
Aite Group says a new survey shows that about one-fifth of credit unions are better positioned now than a year ago to penetrate the small business space.