Today’s financial services landscape is rapidly changing. For credit union CEOs and executives, the best defense lies in the constant evaluation of threats and opportunities.
Callahan & Associates speaks with credit union executives every day, and certain pain points keep popping up in these discussions. But every problem has a solution, and leaders also are quick to share the ways in which they’ve overcome challenges.
Here are 10 questions (in no particular order) keeping credit union leaders up at night and how the movement is responding.
No. 1: Is it enough to be a fast follower?
Several years ago, USALLIANCE Financial Credit Union faced a challenge familiar to many credit unions: how to compete with larger financial institutions and offer world-class service and convenient access in the digital channel.
To solve this problem, the New York-based credit union partnered with several fintech startup companies to offer services and delivery channels rivaling those of even the largest banking institutions in the country.
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