Positive credit union growth in membership and product penetration per member have been trending for the better part of this last year, putting intense pressures on P&L managers. Left at the intersection of deposit swell and member retention, the road leading to the best bottom line results can be unclear – if not seemingly blocked.

In the last six to 12 months, credit unions overall were aggressively diversifying their product portfolios and expanding service options in response to that steady growth. For some it means getting back into the card game or targeting small businesses, while deploying mobile functionality and leveraging cloud-based solutions for in-house efficiencies tops the list for others.

Regardless of each credit union’s approach, the challenge to sustain and then experience new deposit growth across both veteran and incoming members reinforces the age-old conflict of understanding how deposit strategies may impact operational costs and the member experience while minimizing credit risk and fraud risk.

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