Management

Bouncing Back After the Recession

CUs’ top planning strategies include proactive lending and mobile banking.

June 27, 2013
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CUs’ top planning strategies include proactive lending and mobile banking.

It’s time for credit unions to move out of a defensive, recessionary mindset and think proactively about loan growth, membership growth, and new products and services, according to the newly released 2013-2014 CUNA Environmental Scan (E-Scan) Report.

This new perspective involves loan life cycle management/ remarketing, relationship pricing, portfolio “super-segmentation,” and a balance between sound credit-risk practices and aggressive marketing.

Another critical growth initiative: expanding your mobile services. It’s one way to extend your credit union’s products and services to more members, especially to Generation Y—your credit union’s future borrowers, the E-Scan reports.

INFOGRAPHIC:

10 Trends Impacting CUs

Monitor these trends as you create strategies and goals for your credit union’s future.

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