Insights

For all its angst, the pandemic has been a catalyst for change throughout the credit union industry. From coast-to-coast, CU’s of all size are embracing innovation and re-considering everything … especially when it comes to the design and purpose of their branches.

Expanding a real estate portfolio is a heavy lift for any credit union. Succeeding with an expansion initiative – and with your Board of Directors – requires some important and un-relenting disciplines.

In the race to anticipate the future and stay ahead of the competition, it’s important to recognize that the “next shiny thing” is not really what your members want most. What they want is satisfaction.

In the face of so much uncertainty, the key to future growth – if not survival — for many credit unions is through mergers and acquisitions. Often times, the “go/no go” decision is based on the true value of each party’s real estate portfolio.

The sticker shock rise in construction costs has many credit unions pulling back on their current project pipeline. While that makes sense, it doesn’t mean you have to suspend your overall growth plans.

Trying to make up for lost time (and commissions), the real estate industry is eager to have you make deals. After all, what could go wrong?

Growth is good for most credit unions, but funding it can be long and costly. But if you look below the surface, maybe it’s not.

As credit unions and banks continually try to assess the optimal purpose and layout of future branches, Tesla and Apple have seemed to figure it out. Their solution: Retail spaces aren’t for transactions, they are for experiences.

In spite of all the pressures surrounding them, Credit Unions hold a unique opportunity to advance the economic stability of those who work hard and need it most.

The stock market is on a roller coaster. The supply chain is overwhelmed. Inflation is impacting everyone. The job market is weird. Interest rate hikes are right around the corner. Financial technologies are rapidly transforming the banking industry. Economic volcanoes below the surface are simmering everywhere. Is your credit union ready?

When it comes to serving the “under-banked,” Wells Fargo is doing many things right. But their priorities could use some “real world” adjustment.

In a world where seemingly everything is changing, it’s logical for credit unions to “stand pat” when it comes to their headquarters. But this period of uncertainty can be a gateway to significant benefits – as long as those HQ decisions are made with your mind wide open.