“CUs are facing major changes to their membership and their asset base,” says Hendrix Niemann, managing director of wealth management for CBSI, during a Wednesday Discovery Session. “Baby boomers are starting to enter retirement, which means their money will be leaving the CU as they spend down what they've saved and invested for 30 to 40 years. They won't be borrowing or depositing."
CUs must have a plan to replace those assets, he says--and to retain the assets that the boomers will pass on to the next generation.
WASHINGTON (5/4/15, UPDATED 1:45 p.m. ET)--Building on the success credit union advocates are having in getting data breach legislation introduced in the U.S. Congress, today CUNA launches a new call to action to garner support for the recently introduced House Data Security Act of 2015 (H.R. 2205).
CUNA announces a new way to keep credit union readers up-to-date and well-informed. Today, CUNA unveils news.cuna.org.