Like banks, credit unions seek growth in deposits, loans and other products. The starting point for many is to get more members in the door, executives say.
Commercial loans at federally insured credit unions increased 25% to $132.2 billion in the third quarter of 2022, even though many institutions are facing a tough job market. Their answer is to find strong candidates within their own ranks.
Despite stiff competition, compounded with confusion surrounding President Biden's loan forgiveness program, credit unions managed to bring their student-loan portfolios back from pandemic lows.