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Repeated regulatory assessments, increased credit risk, drops in key revenue sources and increasing compliance burdens are all making it harder than ever for credit unions to stay healthy and continue to serve members. To meet these challenges and protect their long-term prospects, many credit unions are focusing like never before on expense management.

In addition, the NCUA is increasingly stressing the need for stronger levels of third-party vendor due diligence and we are seeing credit unions reexamining some of their most central vendor relationships. As an organization serving more than 3,000 member credit unions, CSCU is well attuned to the importance of these needs and we hope that each and every credit union embraces them. Such reviews should be a part of regular management discipline and board direction.

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Peter Westerman


Credit Union Times

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