The difference between a credit union and a funeral home is that people are not dying to do business with a credit union.
But there are lessons to be learned from the funeral home industry that can help credit unions improve their primary financial institution status with members and increase profitability, according to David W. Furnace, a former community banker and president of Haberfeld Associates, a financial consulting firm based in Lincoln, Neb.
"The credit union industry is alive and well and thriving, but we think there are opportunities for credit unions to do substantially better," Furnace said during his Aug. 26 webinar, The Mortician's Guide to PFI Member Growth in 2015. "What we hope for is the death of conventional wisdom about how credit unions should conduct their business."
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