BARCELONA, Spain — The current economic crisis proved that no business or financial institution is "too big to fail," according to Mark Sievewright, SVP with Fiserv Inc, who added the crisis has also helped solidify credit unions' value and worth in helping members survive tough times.
Processing Content
"Credit unions' role as trusted financial institutions shone through, Sievewright told the World CU Conference here. "As other institutions have broken down, you have continued to build."
Sievewright suggested that smaller CUs can survive and prosper even in the worst times because their size and flexibility have insulated many of them from impact the economic breakdown has had on large banks.
