Concern grows over whether unregulated fintech companies will edge out credit unions in the future.
Article wasn't the first time new board member Metsger's relationship with industry raised eyebrows.
New competitors, old products, balky regulators and a whole new generation of disintermediated consumers could spell disaster.
Do the math. Look to your right. Look to your left. One in three credit unions will vanish by 2025. Find out more in this week's preview from next week's print edition.
The only way to change the trend is to increase the relevancy at the lagging smaller credit unions (and a couple of the larger ones, too) that members apparently feel are irrelevant.
In this print preview from next week's edition, experts look at what the industry may look like a generation from now.
The plight and protection of small U.S. credit unions came in for new scrutiny last week following a controversial think tank study by Celent, the Boston research firm, finding that CUs under $50 million are fast disappearing under the weight of tech products, competition, compliance and their own “inefficiencies.”