Through independent research and innovation, the Filene Research Institute explores issues vital to the future of credit unions and consumer finance.
Credit unions that want to juice membership growth face a limited set of options. If the field of membership is not broad enough, the credit union can petition to change it and serve new groups. Often the field of membership is expansive enough, so the challenge becomes how to approach new members of a group that will complement the credit union and allow it to grow.
More ...categories » Market Structure and Field of Membership, Marketing, Consumer Behavior and Market Research, Strategy, Young Adults and Families
Credit union costs, like winter snow and ice, present two kinds of challenges. The first danger of a cost cave-in, where outflows are not sustainably linked to revenue, is catastrophic and obvious. The second danger of creeping costs is harder to spot and harder to remedy.
More ...categories » Market Structure and Field of Membership, Strategy
“We only know two things about the future: (1) It cannot be known. (2) It will be different from what exists now and from what we expect,” said management sage Peter Drucker. What is obvious, even without a crystal ball, is that credit unions need to be lean and disciplined so that they are ready to face the certain uncertainties. We need to be sustainable.
More ...categories » Colloquium, Market Structure and Field of Membership, Mergers, Performance Measures