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