Rather than court new members, some credit unions may focus their resources on building relationships with existing members this year.
If credit unions were looking for a lending panacea in 2011, it was nowhere to be found. It wasn’t for a lack of money to lend because many cooperatives were awash in funds, economists said over the course of the year.
Fresh out of college a few years ago, Tyler Leonhardt accepted a position at Bank of America.
As mayors in at least two cities shut down areas that were being used to protest, Occupy organizers have said the moves will not deter their efforts.
It’s no surprise that lending has been in the doldrums for many CUs the past few years but there could be an unexpected jolt triggered by fervor surrounding Bank Transfer Day Nov. 5.
With the Occupy Wall Street movement recently crossing the one month mark, it remains to be seen if any of the protestors’ list of frustrations will be addressed and acted on.
As citizen frustration continues as demonstrated by the growing Occupy Wall Street movement, credit unions may be presented with another chance to show how they can help middle-class Americans meet their financial needs.
CUNA Mutual Group chief economist says protest cuts across lines, offers opportunity to credit unions.
CUNA Mutual economist says being attuned to the local employment climate and other trends may help credit unions boost stalled loan portfolios.
CUNA September Trends report says overall, all growth came from larger CUs.