Operational Efficiency as a Key CU Strategy

 
 


Preliminary 2nd quarter data from Callahan & Associates' First Look program shows the credit union industry growing loans at an amazing pace while at the same time keeping an eye on expenses and operational efficiency.

Loans for the participating credit unions grew 4.4% in the 2nd quarter, nicely outpacing 1st quarter's growth of 1.7%, as well as the 2.9% growth rate seen in the 2nd quarter of 2003.

Amidst the tremendous loan growth, the credit union industry kept a close eye on expenses. Total operating expenses for the group actually fell 1% from the 1st quarter figures, a dramatic turnaround emphasizing the industry's focus on efficiency in today's low rate, low margin environment.

Helping credit union gain operational efficiencies will be an excellent area of opportunity for industry vendors in the upcoming years as the financial services industry becomes more and more competitive.

 

 

 

July 26, 2004


Comments

 
 
 

No comments have been posted yet. Be the first one.