BROOKFIELD, Wis. – When it comes to capturing the small business market, Mark Sievewright says credit unions should get GLAD.
Meaning, "grant loans and attract deposits," explained the senior vice president at Fiserv, Inc. the technology solutions giant. Neither is more important than the other but in the banking industry, he's found that free deposit accounts attract more business, he said. There's not enough penetration in the credit union market to determine if that is the case here, he pointed out, but some commonalities are present.
"The battleground for deposits is extremely intense," Sievewright said. He noted that the negative savings rate isn't helping either.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
