THE boost

Credit Union Growth Strategies
 

You know the saying: “Grow or…!” If you can’t complete that sentence, well, we’ll try to remember to send flowers. CUToday.info is dedicated to helping CUs grow by providing a little “mulch” in the form of reporting on successful growth strategies. This section will be a growing depository of such reporting on a variety of topics. Have an idea to share? Drop an email to Frank@CUToday.info.

CAMBRIDGE, Mass.–A new study by Harvard researchers that includes a credit union has found many companies are making a mistake when it comes to how they handle customers/members at their most anxious moments, with the researchers also offering a simple remedy they suggest can boost loans closed.

ARVADA, Colo.–Partner Colorado Credit Union said it was able to exceed a new deposits goal by 200% with a special offer.

SAN DIEGO–Credit unions were given a sobering reminder that not all loans are created equally when it comes to profitability, a problem exacerbated by the inability of many CUs to truly understand the real numbers.

FT. LAUDERDALE, Fla.—Credit unions can’t be afraid to make tough calls, according to one professional blackjack player and former Twitter exec, who advised CU leaders to always make decisions based on sound data.

FT. LAUDERDALE, Fla.—It’s those businesses acting like the Flintstones in the Jetsons age that will be most successful, insists one author who emphasizes the importance of face-to-face relationships in the digital era.

SAN DIEGO–If a person doesn’t have their health, it doesn’t matter how much money they have. And even if they have the financial resources, they may be completely unprepared for dealing with health-related issues.

FAIRFAX, Va.–Looking to drive growth and awareness while also having a little fun in the process, Apple FCU continues to roll out commercials that mimic the Mac Vs. PC commercials from that other Apple.

ST. PETERSBURG, Fla.—Count Chuck Fagan as another expert who believes credit unions must pay attention to the “contactless wave.”

ONTARIO, Calif.–Dwight Johnston has retired as chief economist for the California and Nevada Credit Union Leagues. Well-known to many as a frequent speaker and commentator, Johnston famously forecast the housing crisis of a decade ago, and as he steps away from the league he shares his insights on a number of issues.