NATIONAL HARBOR, Md. — Invoking the words that soothed Britain during World War II, NAFCU President Fred Becker said today that if credit unions take advantage of the economic downturn, this will be seen as the movement's "finest hour."
During his speech at NAFCU's 42nd Annual Conference and Exhibition, Becker said because consumers trust credit unions more than banks that will be the key in spurring more growth.
He listed four key areas of opportunity: membership, especially if credit unions take advantage of Generation Y; share growth; credit cards; and innovative products.
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Becker also praised NAFCU's efforts to help its members and said that despite the challenges of the recession, "We haven't skipped a beat in providing extreme member services."
He said that recessions hurt businesses that are "old, slow and bloated," and credit unions will thrive by avoiding that fate.
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