Growth strategies

The Connecticut company will add heft in its home state and Massachusetts when it buys the former mutual.

The annual summer shopping bonanza will run across two days for the first time, and other retailers are following suit with offers of their own. Here’s how credit unions can capitalize on it.

The autonomous vehicle lending market isn’t expected to peak for decades, but some CUs are already jumping in, and they could be at the forefront of rapid shifts in the automotive industry.

The $10 million-asset institution struggled with profitability, posting a loss of more than $12,000 during Q1.

CUs in the Keystone State saw loan balances rise by 8.5%, while membership rose more than 3.3% to top 4.2 million.

Studies show that consumers trust posts from an organization’s employees more than the brand itself, and that could be key to using social media as a growth engine for credit unions.

A growing number of credit unions are moving their headquarters to revitalized urban areas, and while some say that could help recruit new staff, it also carries the risk of being associated with gentrification.

Ribbon-cuttings for de novos have become more common as regulators have warmed up to the idea of granting new charters. These are the banks that have opened this year, along with more that are on track to do so.

The Honolulu-based institution has doubled its loan portfolio over the past five years as its commercial lending has increased.

These programs are allowed in a majority of states, but only a small portion of credit unions offer them. That may change as the need for deposits grows and consumer expectations shift.