Report
376
Number
Oct 26 2015

Trending: Credit Unions in 2025

In conjunction with Credit Union Resources, we deployed a phased methodology that combines a literature review, credit union performance data and projections, and credit union CEO interviews and survey results to sketch out the broad trends and predictions for credit unions in the year 2025. The ecosystem matters, and the global financial ecosystem is incredibly large and incredibly complex. Credit unions are subject to the actions of and reactions to global banks, bond issuers, local competitors, interest rates, and the complex counterparty web draped across the whole money system.

To that end, we sought to explore the following:

  • What credit union products and services will consumers use in 2025?
  • What channels will consumers primarily use to access products and services?
  • What will the credit union system look like?
  • How many credit unions will there be, and what will the ecosystem that supports them look like?
  • What impact will economic changes have on lending?
  • How will growth be divided among credit unions of different asset sizes?

Our analysis paints an overall optimistic picture of the future. Assets will grow and the number of institutions will shrink, but credit unions should focus first on the incremental changes that can be made today to ensure sustainability and growth in 10 years and beyond. Credit unions are not alone in wondering what’s around the corner. Some issues are unique to credit unions, but many are shared in broader financial services, the economy at large, technology, and consumer behavior. We interviewed experts, surveyed credit unions, and scoured our networks for the best predictions for the next 10 years.

Filene thanks its generous supporters for making this important research possible

Report Number 376