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.

ORLANDO, Fla.–Executives from small credit unions here were given a reminder and an update on the resources available to them.

PLEASANTON, Calif.–Patelco Credit Union has launched a gamification promotion called “Play. Save. Win.” to encourage people to save. 

NEW YORK–Where are credit unions  facing their biggest expense-management challenges? And what are they doing to seize opportunities for greater efficiencies?

PHOENIX–Desert Financial Credit Union said it is now offering secure voice banking through Amazon’s Alexa platform, and that it will likely soon be the first CU to offer voice banking with Google Assistant.

WOODBURY, Minn.­–Ideal Credit Union has launched a new Community Heroes Mortgage Program aimed at first responders, teachers, members of the military and others that offers a 1% downpayment option.

NEW YORK–Credit unions seeking to grow need to recognize the effect of CECL extends far beyond the accounting function to a much longer-term issues, including forecasting, business models, strategic decisions, KPIs and especially the ability to communicate with non-financial people, according to one person. 

TIGARD, Ore. – During Affordable Housing Week, a number of credit unions in the Pacific Northwest are offering solutions and products to make housing, whether it be to purchase or rent, more accessible.

ATLANTA–Credit unions looking to grow need to do more than just get members to begin enrolling—they need them to complete the process. But new research finds many give up.

ROCKY HILL, Conn.–Connecticut has been ranked fourth among states for being innovative in a new analysis, and one credit union here said it has looked to boost its own growth by being among the innovation leaders in the state.