SHREWSBURY, N.J. — Many credit union leaders believe lack of new members is the No. 1 challenge facing credit unions, but how that challenge will be met is up for debate.
Member growth has stalled and some credit unions are even at zero or negative growth. What's happening? That's the focus of Credit Union Times' latest voting poll. The question is as follows:
Why are credit unions having trouble adding new members?
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o The common bond that gave CUs a captive audience for new members is eroding;
o Consumers have too many financial services options these days;
o Credit unions are not doing a good job of "telling their story" in their marketing efforts;
o Field of membership expansion has put pressure on marketing budgets;
o Consumer awareness of credit unions is low. Let your vote be heard. Credit Union Times will publish results in an upcoming issue. –[email protected]
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