We have discussed working on credit union swot analysis before, and maybe it is time to give some credit union swot assistance again. This is an excellent exercise for any and every company to do annually (or more) as the markets and world factors change and shift almost daily. So, here are some things that might apply to your credit union or might help spark inspiration into other stuff for your SWOT analysis.
Connecting with credit union demographics doesn’t need to be scary nor is it that hard, but it might take some work.
Credit unions offer a lot of financial services and market them often. What are some credit union services worth the time & money every time?
As credit unions discover the normal and routine activities of their members. Should your credit union branch out?
Credit unions are constantly looking for products that are good for growth. Mobile banking is good for CU members & lending growth.
Oak Tree had an article featured in the CU Times magazine on the Mobile Banking Landscape. The article highlights the concerns that credit unions have.
As technology advances and becomes more affordable, nearly 81% of people own a smartphone. All the information one could need is at the touch of a screen. The days of dialing a phone number to find out what hours the credit union is open are long gone. Running a quick Google search or taking a peek at social media is the best way to find out when in-person banking can be done. Naturally, as technology advances, credit unions need to expand options for digital banking and lending
In today’s world, it is imperative to have a system that is up to date (made necessary by advancing technologies that are becoming easier for users to navigate), and a system with fewer clicks, known as a “3-click rule.”
In an expert opinion article posted on Credit Union Times our CEO, Richard Gallagher, discusses how members switch financial institutions.
In a commentary article posted on CU Management our CEO, Richard Gallagher, discusses Inside Marketing: Appealing to Younger Members.