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Citing customers’ increased adoption of digital services over the past two years, banks are shrinking their physical presence, while also renovating the locations they keep — but credit unions are bucking the trend.
U.S. credit unions that serve Ukrainian immigrants are coordinating efforts to provide aid in Ukraine while bracing for cyberattacks at home.
Here is a rundown of the regulatory, diversity, competitive and other challenges that executives explored at the Credit Union National Association's annual gathering in Washington.
Credit unions and banks need to ask themselves if they're finding ways to say "yes" to consumers who too often hear "no" from mainstream institutions. Otherwise, they perpetuate a system that excludes the poor and people of color and drive them toward nonbanks, said Pablo DeFilippi of Inclusiv Network and other experts.
Just a few years ago, there was no organization for LGBTQ credit union executives and employees, nor was there anyone openly out on the stages of credit union conferences — until Linda Bodie, CEO of Element Federal Credit Union in West Virginia, asked them to make themselves known.