Core elements that contribute to credit union asset growth

Regardless of the organization you’re talking about, all credit unions operate with the same basic goal in mind: to serve their members. To do this as effectively as possible, they have to keep growing and establish a strong foothold in their community.

The over-arching way to do this is to make sure that you’re always offering A) the highest quality services at B) the most attractive rates that you can. But at the same time, looking at the world through this simplistic lens will only get you so far.

The reality is that in order to grow as consistently and as efficiently as possible, you need to better understand the key elements that contribute to asset growth in the first place. Within the context of a credit union, that means gaining a better understanding of two things: the relationship between marketing expenses and your ability to scale, and the deposit benefits that you are offering to your members on a regular basis.

The Power of Marketing Expenses

One of the most significant factors that help empower credit union asset growth has to do with marketing expenses. In the case of a credit union, you’re likely talking about educational expenses for community members, promotional expenses, or some combination of the two.

 

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