Our current climate is not only a time of opportunity but also a time for action.
After a blistering summer of record-high temperatures across much of the nation, another hot topic is taking control. Fall is coming, which means many credit unions are preparing to enter their planning season. Although you must be realistic about the challenges you face, there is also ample opportunity.
This week on CreditUnions.com, our analyst Sam Brownell takes a look at one area of the credit union balance sheet that highlights the success of the industry over the past year. The core components of credit union operating expenses indicate the business model is growing leaner. On the other side of the equation, learn how a $17 million credit union in Ohio grew its earning potential by growing its mortgage loan portfolio.
Solid underwriting, healthy economic circumstances, and adherence to a community-first mentality has helped many Great Plains financial institutions seize opportunities in their region. We offer a glimpse into the performance of two Great Plain credit unions, which paints the region as an area that is anything but “forsaken.”
To successfully maneuver your economic circumstances, embrace the opportunity to do things differently. There is always discussion about the evolution of the credit union industry, so as you go into your planning sessions, consider this: Our current climate is not only a time of opportunity but also a time for action.
Against all odds, the Board members of Kappa Alpha Psi FCU took a stance against NCUA last week. They sought to halt the liquidation of the 6-year-old credit union with $800,000 in assets. On Friday, NCUA carried out the liquidation, nullifying any need for court review. Although there will be no more planning sessions in this credit union’s future, its actions begs questions about the state of the credit union industry. Are NCUA’s actions proper? Are we satisfied with the way NCUA treats troubled credit unions (and now the US District Court)? Read more in NCUA Files Response to Judge and then Liquidates Kappa Alpha Psi FCU.