future opportunities
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Future Opportunities & Challenges for Credit
Unions
James Berry, CEOBristol Credit Union
Credit Unions – Future Opportunities & Challenges
The world is our oyster?
Credit Unions – Future Opportunities & Challenges
Topics
Where are we now?There are challenges ahead……but opportunities tooWhat can we do?
Credit Unions – Future Opportunities & Challenges
Where are we now?
Credit Unions – Future Opportunities & Challenges
Membership growth…
Credit Union Membership
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
2007 2011
Credit Unions – Future Opportunities & Challenges
Extending product range…
Credit Unions – Future Opportunities & Challenges
Fewer, larger CUs…
No. of Credit Unions & Members per CU
1198
2133
0
100
200
300
400
500
600
700
800
2006 2008 2010 2012
Credit Unions – Future Opportunities & Challenges
Penetration still low…
Membership Penetration
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
2007 2011
Credit Unions – Future Opportunities & Challenges
Operational challenges…
Credit Unions – Future Opportunities & Challenges
Challenges
Credit Unions – Future Opportunities & Challenges
The economy, stupid…
Credit Unions – Future Opportunities & Challenges
Regulatory changes…
Credit Unions – Future Opportunities & Challenges
Positioning in the market…
Credit Unions – Future Opportunities & Challenges
Opportunities
Credit Unions – Future Opportunities & Challenges
People love banks…
Credit Unions – Future Opportunities & Challenges
Technology…
Credit Unions – Future Opportunities & Challenges
Small businesses…
Credit Unions – Future Opportunities & Challenges
What can we do?
Credit Unions – Future Opportunities & Challenges
Focus…
Credit Unions – Future Opportunities & Challenges
Credit Unions – Future Opportunities & Challenges
Credit Unions – Future Opportunities & Challenges
www.bristolcreditunion.org
Thank you!