Section 2: Strategies for Growth

Setting a trajectory for growth requires knowledge and discipline. Draw on Filene’s research to understand the key drivers and tactics that provide the best fit your credit union’s needs. Borrow our insights to identify new revenue streams such as expanded business services, using marketing analytics to grow membership, or recognizing the benefits and risks of consolidation.

The credit union business model carries both promise and possibility. Growing the bottom line is never distinct from advancing the credit union mission. Each can support the other and create a virtuous cycle. As Huggy notes, “if you go with the helping mindset, you actually do things that are good for your business. I think if we can actually help communities, help individuals, I'm sure new product ideas and the like would automatically come by, but we've got to lead with the help muscle rather than with the sell muscle.”

Tools

Guide to Analytics in Marketing
In addition to the research report, download our market research how-to guide to walk you through effective focus group observations, understanding the hierarchy of effects, and analyzing metadata.

Are You Prepared? Get Your Credit Union and Members Ready for Recession
What Filene's research says about preparing your credit union for the next recession.

Ep. 40: Credit Unions' Acquisitions of Banks and Thrifts
So, a professor, a lawyer and a CEO walk into… a podcast? Listen to this amazing tale of a credit union growth strategy with seemingly no downside.

Filene’s Center for Performance and Operational Excellence was generously sponsored by: