Read the original CU Times article here.
Here is a brief summary of the article:
- Credit unions face low core deposits, tough economic conditions, and a balance between member needs and operational stability.
- Credit unions overcome challenges by diversifying service offerings, digital transformation, and strategic marketing.
- Credit unions should focus on financial wellness for deposit growth and member support.
- Helping members with federal savings plans on student loans and canceling unused subscriptions can increase deposits.