Beyond buying banks: Other strategic growth opportunities for credit unions
Since credit unions were established in the U.S in 1908, they have fulfilled their mission by providing financial services to their members. Over time, they have grown in numbers (23,866 at the peak in 1969) and then started a long-term consolidation trend resulting in about 4,500 charters today. Many credit unions have evolved and grown through mergers and organic growth into sophisticated financial institutions with substantial assets, capital and earnings power.
Increasingly, credit unions have demonstrated their ability to acquire and invest in banks, ancillary financial services such as insurance agencies and registered investment advisors (RIAs), and financial technology companies. Ultimately, these acquisitions align with the credit union philosophy of providing comprehensive, member-focused financial solutions.
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