This week on CreditUnions.com we look at the state of the credit union industry, branch and headquarter designs, how and why credit unions are buying banks, and more.
Here are four data points you need to know:
Since 2009, Callahan & Associates has produced an annual report. It’s one of the few places where leaders can check out a holistic view of the credit union industry.
The 2016 Credit Union Annual Report also highlights areas of major impact — loans made, share dividends paid, and people employed is just the beginning — as well as presents a series of leader tables that show which credit unions are performing well in areas that underscore the cooperative model. Read more in the "2016 Credit Union Annual Report".
Nationwide, credit unions operate more than 20,000 branch locations. But an institution’s physical footprint often extends beyond these member-facing spaces and into workspaces for support staff.
Although different, both spaces share one important similarity: the need for practical design. Branches house tellers, loan officers, managers, and more, but they must also be functional spaces for members. Administrative buildings, on the other hand, are focused on employees. These are spaces that encourage productivity, efficiency, and innovation. Ideally, they also promote a positive and engaging atmosphere that keeps employees happy, healthy, and motivated.
Credit unions can approach HQ and branch design in several ways. See how in "3 Ways To Approach Headquarter And Branch Design".
Core deposits at credit unions surpassed $800 billion at year-end. But which shares underpinned this growth?
Learn more about credit union deposits in "Shares By The Numbers".
The popularity of cooperative financial services has taken off in the United States. More than 4 million members joined a credit union for the first time in 2016, pushing membership growth to the fastest rate in 14 years.
In this new age of consumer awareness, credit unions across the country are looking for smart growth and service expansion opportunities that fit within their overall cooperative strategy. One approach that has gained steam is the purchase of individual bank branches as well as full institutions.
Thinking of buying a bank? Check out best practices and insights from credit unions in the know in "The Bank Branch Expansion Plan".