In remarks before the Idaho Credit Union League's annual meeting, NCUA board member Debbie Matz encouraged credit unions to do more to capture potential members within their communities.
"You have an opportunity to get on board and seek out potential members who are hidden from the financial mainstream," Matz told 200 credit union representatives. "That means charting a course to reach everyone in your field of membership and your communities-especially people who are not being served by other insured financial institutions."
According to Matz, "Hidden treasures are everywhere-they are renters, recent immigrants, small business owners, single mothers and senior citizens. Many credit unions in Idaho and around the country are beginning to discover that these 'hidden treasures' can be very rewarding.
Credit unions are turning potential members into new, loyal members who expand their credit unions' diversity, increase loan volume, build assets, and improve their bottom line."
Matz also urged credit unions to be aware of opportunities to serve underserved areas, and cited East Idaho Credit Union for the work it has done in reaching out to Latinos and Hispanics.
"For all people who have never had access to a credit union," Matz related, "credit unions can help them end their search for affordable financial services, and begin their own 'Voyage of Opportunity.' "
