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CU Snapshot

 Aug '17Jul '17
# of CUs5,708 5,893
Members
(millions)
112.7112.2
Total Assets
($ billions)
$1,372.1$1,383.7
Total Savings
($ billions)
$1,158.6$1,165
Net Cap.
Assets
10.8%10.7%
Loans to Savings82.3%81.5%
Loan Delinq.0.8%0.7%

         Credit Union Indicators

Are You a Local Hero?

Community development is a competitive advantage.

Supporting your community isn't tied to financial gain, but it can give your credit union a competitive advantage, says Jeff Rendel, president of Rising Above Enterprises.

Rendel recently polled credit union executives about why it's important to be involved in their communities.

"The most often-cited response for why they are responsible for their communities was competitive advantage," says Rendel, who spoke at CUNA's Community Credit Union and Growth Conference, held jointly with the annual meeting of the National Federation of Community Development Credit Unions in late September. "There's a competitive advantage to community development."

Rendel's wide-ranging keynote address showcased how community involvement can help both communities and credit unions, and he says true community development credit unions are local heroes.

That doesn't mean "leaping tall buildings," according to Rendel. It means doing the little things on a continuous basis, such as sponsoring charitable events, making loans to those in need—even if their credit is poor—and giving employees paid time to volunteer in the community.

"Looking for those small opportunities day after day makes a huge difference," Rendel says. "How can you be a local hero today? This is what makes the biggest difference when it comes to community development and our financial success."

(Via news.cuna.org)