Every year, East County Schools Federal Credit Union holds a strategic planning meeting not too far from its east San Diego-area headquarters. During the session, key stakeholders review the past year and plan for what’s coming in the year ahead. But the credit union’s planning meeting for 2018 was different — it was much larger in scope.
To see how this small San Diego credit union uncovered a novel way to catch the attention of non-members, read "12 Ways To Invigorate A Closed Field Of Membership."
Shares for U.S. credit unions neared $1.2 trillion at the end of the third quarter. Annual growth as of Sept. 30, 2017, exceeded 5.7%. Although this was positive, share growth was 1.9 percentage points slower than last year’s 8.6% rate.
Learn more about this side of the balance sheet in "Shares By The Numbers."
The average consumer adds more than $1,000 to his or her credit card balance during the holidays, and settlement companies such as National Debt Relief see a 20%-25% increase in the number of consumers seeking help in the first few months following the new year. And it seems millennials are particularly prone to dive into debt over the holidays. According to a Magnify Money study, 24- to 35-year-olds are mostly likely to report going into debit, with a rate of 14.3%.
Learn why it's all fun-and-games until the credit card bill comes due in "5 Ways Millennials Deal With Holiday Debt."
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