SEATTLE — A 55-year-old veteran of the credit union industry and a 25-year-old marketing consultant see the world quite differently. Both, however, agree that credit unions need to be more aggressive in expanding their memberships.
Former NCUA Chairman Dennis Dollar and marketing consultant-publisher Bryan Sims shared their thoughts in subsequent talks on the first day of NASCUS' three-day meeting here.
Dollar said credit unions need to do a better job of cementing member loyalty and being more aggressive in getting new members. He noted that membership growth has been stagnant–last year it was 1%–and that's not a recipe for long-term success. He also noted that credit unions have only 6.7% of all federally insured deposits.
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