Executive Summary
You can’t cut your way to growth. Credit unions of all sizes have responded to the Great Recession and recent years of slow growth by focusing on efficiency and even shrinking assets to maintain capital. But cost cutting solves shortterm profitability without building an engine for longterm growth. Stubbornly narrow interest rate margins mean that even credit unions that are growing loans are hungry for additional sources of revenue. Topline growth is key for financial sustainability.
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