“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.
Not only does absenteeism affect your bottom line, it increases everyone’s workload.