- Hispanic Resources
A report from the Filene Research Institute cites these strategic insights for credit union boards and senior management:
►Strategy and policy. Credit unions could improve organizational performance by diversifying their noninterest revenue streams, decreasing the variety of deposit products offered, and questioning the effectiveness of a diversified loan product strategy.
►Credit unions as cooperatives. Patronage refunds are the necessary tool that demonstrates to members that the cooperative is socially and fiscally responsible with the member's money.
►Lending. The average American household lives in the same home for only seven years. This means most Americans could do better with a shorter-term fixed interest rate, which would result in lower monthly interest payments.
►Consumer behavior. Consumers, especially low-income consumers, are much more likely to cycle in and out of debit and credit cards and the institutions that issue them than to give up on cash.
►Innovation. Only 27% of executives responding to a McKinsey Global Survey said their companies are effective at holding leaders accountable for executing tactics that support innovation.
For more information, see "101 Things: Credit Union Insights from the Filene Research Institute."