|Diana Dykstra, CEO of the California and Nevada Credit Union Leagues presents at the CUNA Technology Council and the CUNA Operations, Sales & Service Council conferences|
DYKSTRA STRESSES MEMBER RELEVANCE
updated 09/25/13 04:17 PM
Dual CUNA Conference Meeting
During the Credit Union National Administration (CUNA) Technology Council and the CUNA Operations, Sales & Service Council conferences on Sept. 22-25, President and CEO of the California and Nevada Credit Union Leagues Diana Dykstra addressed attendees on the importance of staying relevant to members and potential members amidst a demographic shift.
"Baby boomers helped credit unions grow, but they're deleveraging now and they're not going to become net borrowers again. They're done. Today's net borrowers are age 18 to 34, but that age group is under-represented among credit union members. We have to do something about that," Dykstra said.
According to Dykstra, Generation Y, representing 78 million individuals, is the future of credit union lending. However, 71 percent of this cohort are uneducated about credit unions, and over half of the unbanked belong to Gen Y.
"This generation represents a tremendous opportunity for credit unions, but a lot of younger consumers just don't want relationships with traditional financial institutions," she added.
The greatest opportunity for credit unions tapping into the Gen Y market is mobile banking, which is growing 68 percent a year.
"Branch traffic declined for the first time in 2012," Dykstra said. "About 80 percent of consumers now visit a branch only once per quarter. And their top three reasons for visiting a branch are problem-resolution, to execute a process that's too complex to execute online, and to physically sign a document."
WCMS HONORS 2014 GRADUATING CLASS updated
07/29/14 09:58 AM
Weidler Receives 'Highest Honors'
Nearly 90 students from the “Mu” Class proudly received their Western CUNA Management School (WCMS) diplomas last Thursday night at Pomona College in Claremont, CA, where a lively audience cheered another successful send-off of credit union leaders who are devoted to keeping the credit union philosophy alive.
REGULATORY REACTION: HIT OR MISS updated
07/29/14 09:50 AM
Leaders Discuss the Changing Landscape
The credit union industry’s overwhelming response in sending more than 2,000 letters to the National Credit Union Administration (NCUA) on the agency’s risk-based capital proposal is extremely rare. So what’s different this time around?
NATIONAL REG ADVOCACY TOOL LAUNCHED updated
07/25/14 01:55 PM
'PowerComment' Combats Burdens
PowerComment, a highly-interactive online resource that helps credit unions take their regulatory concerns directly to regulators, was officially announced today during the summer American Association of Credit Union Leagues (AACUL) meeting.
CELEBRATE 100 MILLION MEMBERSHIPS updated
07/24/14 03:42 PM
National Awareness Campaign
The credit union movement is on pace to reach 100 million memberships this summer. To commemorate this milestone, the Credit Union National Association (CUNA) launched the “100 Million Memberships” campaign, and invites all credit unions to participate.