This week, CreditUnions.com finds a credit union breaking its indirect addiction, spots commonality between credit union leaders in IRA and Keough balances, and has one millennial ask the question: Will I ever buy a house?
Here are four can't-miss data points for the week:
Starting in 2015, Shoreline Credit Union moved away from its indirect lending business. At the time, the credit union had been originating $1 million or more a month in indirect loans, but finding none of the engagement. In fact, while indirect represented 40% of its loan portfolio, the credit union was converting 3% of these borrowers.
Learn more about Shoreline's decision in "Breaking The Indirect Addiction."
Americans aren't saving enough for retirement. That's according to research from the U.S. Census Bureau. But while credit unions are growing loans faster than shares, cooperatives do offer savings vehicles and financial planning services to members. In fact, when looking at the top ten industry leaders in average IRA/Keough balances, a trend emerges.
What do the credit union leaders have in common? Find out in "Serve A SEG. Capture Deposits."