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.

TAMPA, Fla.—Trellance has made two important acquisitions in the last six months that President and CEO Tom Davis says now allow the CUSO to deliver even more comprehensive support to credit unions.

RICHARDSON, Texas—As credit unions face mounting pressure on non-interest income, one CU is reporting it has diversified its revenue stream to achieve annual non-interest income growth of 17.89% over last five years.

WASHINGTON–CU Direct is rolling out a new end-to-end mortgage-lending platform that aims to position credit unions as every bit as convenient as some of the online mortgage offerings consumer see being advertised.

LAKE MARY, Fla.–Credit unions have an opportunity to head off the growing number of loans going to fintechs and other providers, but they will need to make certain moves first, according to one person.

GRAND RAPIDS, Mich.—Credit unions that perceive the Internet simply as a delivery channel or a self-service employee cost reduction tool will have trouble competing in the not-too-distant future, warns one analyst.

HAUPPAUGE, N.Y.—One auto industry expert is advising more credit unions to offer leasing as a means to keep the auto loan portfolio growing at a time when new vehicle sales are declining.

MADISON, Wis.—A trio of market realities is putting pressure on CUs to deliver an exceptional digital experience to members in 2019, says one expert.