|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."
LEADERS ENGAGE WITH STATE LAWMAKERS updated
04/15/14 09:44 AM
Card Security a Hot Topic
Credit union professionals and volunteers took a stand for their members in Sacramento from April 7-8 during the California Credit Union League’s 2014 Government Relations Rally (GRR)—an event that attracted more than 75 attendees and helped build relationships with state legislators.
CO-OP ANNOUNCES SHAREHOLDER DIVIDEND updated
04/14/14 01:37 PM
Patronage Pool of $30.5 Million
CO-OP Financial Services has announced a shareholder dividend pool of $30.5 million for 2013—a 17 percent increase from 2012. Since becoming a credit union-owned cooperative in 1996, CO-OP’s total shareholder patronage has been $284.8 million.
DBO REPS ADDRESS 'CUOLI' INVESTMENTS updated
04/14/14 01:05 PM
State CU Update Given
California Department of Business Oversight (DBO) Commissioner Jan Owen and Deputy Commissioner of Credit Unions Erick Orellana gave attendees an overview of the department during the California Credit Union League’s 2014 Government Relations Rally (GRR) last week in Sacramento and welcomed questions from attendees.
CONGRESSMEN CONCERNED OVER RBC RULES updated
04/09/14 01:18 PM
Questions Arise During Hearing
Reps. Ed Royce, R-CA, and Brad Sherman, D-CA, questioned National Credit Union Administration (NCUA) General Counsel Mike McKenna on the effectiveness of the NCUA's proposed risk-based capital rule during a House Financial Services Committee hearing last week.