Credit Unions were once known as the “small man’s bank” and the concept of sharing a common bond underscored member shared common experiences, needs and aspirations that allowed them to own and operate a credit union. Indeed, they would share among themselves these experiences and aspirations and build the credit union as the vehicle to […]
The Credit Union Movement’s Approach to Fostering Social and Economic Resilience for the ‘New Normal’ Introduction In times of any disaster, be it natural or otherwise, a need will always arise to strengthen social and economic resilience. If we are to be less vulnerable than we were for the Covid-19 pandemic, there will undoubtedly be […]
Even before Covid-19, the finance industry was rapidly changing and steadily becoming more competitive. This was putting pressure on traditional lenders to evolve, preserve and grow their business, with Credit Unions (CUs) being no exception. With complications brought on by Covid-19, CUs must now find innovative ways to transform their financial services. They must strategize […]
In 2020, digital channels have become the preferred way to interact with financial organizations—73% of U.S. adults report being more likely to use digital financial services during the COVID-19 pandemic and there has been a 50% increase in the use of mobile banking apps from 2019. Given that COVID-19 does not differentiate, its impact is expected […]
In Missouri, USA, if an ice storm knocks out electricity, the MoElectric Co-operation drops everything in attempt to get the electricity back up and running. This is their modus operandi for they know it is an absolutely essential product that their members need. They essentially reach out to every Electric co-op in Missouri and its […]
Credit Union Millennial Membership Survey – Credit Unions Joining Forces To Better Provide For Our Millennials We’re back! In our last piece, we assured you that we would elaborate on pertinent aspects within the credit union movement which must be refashioned or let alone created in order to attract the millennial market. Enough emphasis cannot […]
It was not too long ago that newspapers and radios were the leading news sources; from home phones in every house to cell phones in every pocket it is evident that times are changing. With changing times come changing generations and changing consumers. One such generation of consumers are the Millennials. Our world’s population has […]