Filene Study Finds Mid-size CU Success Traits

MADISON, Wis. – A recent Filene Research Institute study finds that mid-sized credit unions with high growth rates share similar management practices. According to the Management Practices and Growth at Mid-Sized Credit Unions” study, a combination of management practices appears to drive growth. Such practices range from implementing a formal strategic planning process and focusing on particular efforts that give them a competitive advantage, such as high-quality service to using market segmentation and member surveys to better assess and serve member needs. In addition, the board of directors at high growth credit unions is not only active but is also supportive of management. Study findings are based on Researcher Jon Udell of the University of Wisconsin’s survey of mid-sized credit union CEOs. Udell compared survey responses to credit union growth patterns during a recent eight-year period. Copies of “Management Practices and Growth at Mid-Sized Credit Unions, and other Filene monographs are available free to Institute members; $125 to non-members. Special reports are $75. For information about Filene studies call (608) 231-8550.