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CU Snapshot

 October '18September '18
# of CUs5,6475,653
Total Assets
($ billions)
Total Savings
($ billions)
Net Cap.
Loans to Savings85.8%85.5%
Loan Delinq.0.6%0.7%

         Credit Union Indicators

Top trends for boards

Strategic planning expert Jeff Rendel explains what will shape CUs' future.

Pay particular attention to three key trends shaping the credit union industry, strategic planning expert Jeff Rendel told attendees at the CUNA National Credit Union Roundtable for Board Leadership in Las Vegas.

Citing the 2017-2018 CUNA Environmental Scan, Rendel advises board members to address:

1. The battle for top-of-card status. The use of debit and credit cards is growing exponentially, he says.

2. Digital business transformation. Consumers from all generations are comfortable with mobile devices, Rendel says. This has led to the rise of the "omni-digital consumer," he adds, replacing the "omni-channel" consumer. "This is more about the member experience than anything else," Rendel says.

3. The need to adopt a growth mindset. Overall, credit unions have experienced strong membership and loan growth, Rendel says.

(Via CUNA News)