Credit Union Contraction Is Not Inevitable
There are alternatives to CUs following banks’ M&A playbook – viable ones to retain CUs’ independence, relevance and member relationships.
Dear Editor,
I just read the Sept. 18 article “Big Banks Poised for Growth at Expense of Smaller Institutions: J.D. Power,” and I couldn’t help but want to scream out: “WE ARE DOING SOMETHING ABOUT THIS!” Big banks are investing heavily in fintechs, and unfortunately, it’s working. This saddens my heart as I thought the Occupy Wall Street movement was to be a pivot point for millennials.
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There are alternatives to CUs following banks’ M&A playbook – viable ones to retain CUs’ independence, relevance and member relationships.
Two CEOs offer a perspective in opposition to the view that mergers are a sign of CU industry deterioration.
When compliance and doing the right thing by members go hand in hand, everyone wins.
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