One CUSO predicts the four areas credit unions and banks will focus on in 2012 are profitability, efficiency, product and service mix and deeper member and customer relationships.
"On the surface things may appear calm, but underneath currents are swirling and business fundamentals and structures are being transformed rapidly," according to Shazia Manus, CEO of The Members Group and author of the white paper "The Road Ahead: Four Very Important Competencies for Community FIs in 2012.
In the category of profitability, these tactics include evaluating new streams of revenue. With efficiency, Manus discusses elements such as branching and the technologies capable of lowering expenses.
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