Credit union professionals predict direct loan growth, marketingautomation, Instagram, Snapchat and topic-based marketing areexpected to be some of the top prevailing strategies and trendsthroughout 2018 credit unions will use to attract new membersand grow loans.

From participating in dozens of strategic planning sessions in2017, Scott Butterfield, principle of Your Credit Union Partner inSumner, Wash., said his firm heard a recurring theme from hiscredit union clients: Focus less on indirect member and loan growthand more on direct member and loan growth strategies.

“We heard many leaders of large credit unions say they intend topull back, but not stop, indirect lending during the coming year,”Butterfield said. “Common reasons for the shift in strategy includeavoiding high and increasing indirect loan-to-collateral values,challenges of cross-selling other products and services to indirectmembers, and strong competition for indirect loan purchases,including a growing number of out-of-market paper buyers.”