June 27, 2017 About | Subscribe | Contact | CUNA News [ Log in ]

Article Tools

CUNA Research Reports

CU Snapshot

 Apr '17Mar '17
# of CUs 5,926 5,953
Members
(millions)
111.2110.7
Total Assets
($ billions)
$1,381.2$1,374.7
Total Savings
($ billions)
$1,161.4$1,163.6
Net Cap.
Assets
10.4%10.4%
Loans to Savings79.3%78.2%
Loan Delinq.0.8%0.7%

         Credit Union Indicators

What Will CUs Look Like in 2025?

Filene projects future trends.

Technological disruption, increased regulation, changing consumer behaviors, and asset growth will reshape the global financial ecosystem, according to the Filene Research Institute report "Trending: Credit Unions in 2025."

"Credit unions will be seen as apps on a smartphone more than as a physical location," says Bruce Cahan, a visiting scholar at Stanford University. "They will include video chat for dialogue and financial counseling, but for all but the most complicated transactions, a credit union will have to deliver service excellence without the human interactions."

Other changes projected include:

"To accommodate the changes, credit unions should focus first on the incremental changes they can make today to ensure sustainability and growth in (the next) 10 years and beyond," advises Ben Rogers, Filene's research director.

To learn more about Filene's research, read the feature article "A Crowded Lending Landscape" in the November issue of Credit Union Magazine.

(Via news.cuna.org)