Growth strategies

Putting the right pictures on a credit card has just been one of the details that have made a buy-local program at one credit union here so successful.

Credit unions at the front of the curve when it comes to using Facebook to make loans are finding members more than "like," the option, they are filling out applications there too, including mortgages.

More credit unions are leveraging e-signature to reach into new geographic markets without adding bricks and mortar, reports Michael Ball, VP of markets and strategy for IMM.

One person believes that one of credit unions' biggest growth opportunities in the remainder of 2013 lies in the realm of merchant services.

Moving to paperless functions and document imaging may seem costly, but one person says it's one of credit unions' best chances for growth.

The National Cooperative Bank is bolstering CUs' bottom lines by helping them offload deposits and access liquidity.

CUtopia is finding a niche in assisting credit unions with their marketing, and delivering growth as a result.

Since NCUA expanded the number of CUs eligible for the low-income credit union designation, which means a higher cap on MBL, WorldPay has seen its business and support for the industry rise.

PHILADELPHIA -- American Heritage FCU set a goal of saving its members $13 million on their loans for all of 2013 by refinancing consumer and mortgage loans and hit the goal June 1.

In 2013's second half look for more credit unions to seriously consider "out-of-the-box" revenue sources to drive the bottom line.

MADISON, Wis. – Four local families will be pitted against each other to see who can save the most money and cut the most debt over the next six months in competition for a $10,000 prize in Summit CU’s Project Money.

ROCKY HILL, Conn. – Nutmeg State FCU is borrowing a page from the Saturday Night Live playbook to launch its new “Banking Awesome” campaign.

NORFOLK, Va. --Navy FCU will be handing out $20 to the first 100 shoppers who participate in a cash mob event in the Ghent neighborhood of Norfolk this Saturday to celebrate local small businesses and the kick-off of National Small Business Week (June 17-21).

ST. PAUL, Minn. – Affinity Plus FCU will gain approximately 4,600 members and $25 million in assets from Illinois-based Oak Trust CU at the close of business June 30, after regulators approved an unusual branch acquisition deal.

MADISON, Wis. – Summit CU’s bid to expand its Milwaukee branches with a deal for Veterans’ Administration CU was approved by members of the $15-million credit union, NCUA and state regulators.

It's a common concern of many credit unions: members who come aboard due to an indirect loan never become fully participating members. But that's a problem that is often self-inflicted by those same CUs, and can be resolved, according to one person.

Fox Communities Credit Union has had a lot of success with the numbers 399.

Two CEOs who have taken different paths to arrive at similarly successful places when it comes to returning value to members emphasized the same points to attendees at Credit Union Journal's Grow Show here: success requires a sound strategy and singular focus.

It's no revelation that margins keep narrowing, that lending remains challenging or that members are getting older.

Credit unions should prepare for the day when some employees ask them NOT to offer health insurance coverage.