Every industry faces change and the credit union industry is no different. Market developments and new regulations are challenging credit unions to find new sources of noninterest income in order to grow. While it can be difficult to thrive or even survive in an unstable environment, change also brings opportunity. One option for credit unions is using strategic mergers and acquisitions.

The right acquisition can enable a credit union to adapt to changes that are beyond its control and continue growing noninterest income.

For example, through a CUSO a credit union could buy or invest in an organization that sells technology services that are not dependent on interest rates, thereby increasing the organization's noninterest income. To think more precisely about the possibilities of strategic acquisition, I recommend using a tool called the Opportunity Matrix.