Credit Union Management

Despite having a small percentage of business members, some credit unions believe they are now better positioned to grow their penetration in the small business market than they were prior to the start of the financial crisis a few years ago.

At a recent credit union meeting when I raised the subject of the NCUAs recent proposal to permit credit unions to voluntarily prepay assessments, earning 0% interest with the agency, CEO heads were shaking. All in disbelief and all in response to the question, Will your credit union be participating?

It is not news to us in the financial services industry that times are tough. Yields are low, margins are nonexistent and loan rates (if we can make loans at all) are at historic lows. Yet with these almost insurmountable challenges, we are expected to continue investing in our businesses...

A sampling of headlines tells the story. “Governor Orders Education Cuts.” “Public Employees Protest Cutbacks in Ohio, Wisconsin.” “Union Fight Could Reshape American Politics.”

You could say Brett Wooden, business development manager at Unitus Community Credit Union, jump-started a credit union iPad movementand hed be thrilled.

Continuity of thinking and governance competencies need to be taken into consideration when looking at board limits.