Growth strategies

Estimating again that $400 billion in checking deposits could be on the move this year, one economist recommends CUs exercise excellent expense control to not only protect their portion of these funds, but to grow share from banks.

It's no secret that for any credit union to grow in 2013 it is necessary to market to a younger demographic. Similarly, it's no secret that means investing in technology and other delivery channels, especially mobile. But that's not enough.

CU nimbleness and the ability to turn bank converts into profitable relationships are keys to growth this year.

Credit unions' quickest path to growth in 2013 begins at home.

Beating auto dealers and captive finance companies will be key to auto loan growth in 2013, and one vendor has introduced a solution to help CUs do just that.

One credit union sees no need in 2013 to alter a business model that led to 24% loan growth last year, boosted earnings 59% year over year, and has ROA above 2%.

Credit unions looking to continue growing in 2013 should look no further than the humble checking account, according to Dennis Dollar.

This year Shreveport FCU will focus on making more micro-loans to help small businesses in the Mississippi Delta and Shreveport areas.

To proceed with growth strategies to reach the Hispanic market, the CU must first understand the unique characteristics of the local Hispanic population.

Dollars invested into marketing this year should produce solid growth returns, observed one person who believes a great deal of the member growth CUs enjoyed last year can be credited to bank errors.

Credit unions can drive product growth in 2013 by going back and taking a fresh approach to an old standby: their websites.

For Jersey Shore FCU, much of its focus in 2013 will be on looking to rebuild its auto loan portfolio, as well as what is projected to be more than a year-long effort to recover from Hurricane Sandy.

At a time when a majority of credit unions are not growing at all, Glendale Area Schools FCU has had to put its emphasis on controlling growth.

With many credit union CEOs seeking ways to make better use of the technology they already have in place, Todd Nuttall says the answer is staring them in the face: the ATM.

For many credit unions, growing in 2013 will come down to not "standing in their own way."

One person believes that the new year offers tremendous opportunities for credit unions to grow their unsecured lending portfolios around credit cards.

DENVER – Colorado state regulators on Friday approved large community charters for three one-time employee-based credit unions, continuing the trend away from the common bond.

CHELSEA, Mass. – Metro CU continued to expand its suburban Boston footprint with a deal to acquire Fenwal CU, a troubled single-branch, $2-million credit union in nearby Ashland, Mass., the fifth merger for Metro in three years.

RALEIGH, N.C. – Seven North Carolina credit unions last week introduced the state’s first savings sweepstakes, which will award a grand prize of $30,000 and monthly cash prizes – the first of three states planning new statewide savings contests.

ALEXANDRIA, Va. – NCUA announced this afternoon it will award one low-income designated credit union a $50,000 grant for the best proposal that results in long-term savings to a credit union through collaboration.