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Showing posts from April, 2019

Small Market Credit Unions May Have Greater Impact on Field of Membership

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By Michael Cochrum
In the world of credit unions, as with banks, the larger shops tend to garner more attention from industry insiders.However, it may be that smaller, small-market credit unions are garnering more attention from the members they serve.CUBI.Pro recently used its national CU Peer DataApplicationto research how credit union assets were distributed by state and by individuals in each state.The research demonstrates that credit unions in the most populous states garner the largest concentrations of assets but do not necessarily impact individuals in those states as much as credit unions in states where the population is less dense.
Obviously, large credit unions are often able to offer more services and access points to their members than smaller credit unions, due to scale, but the question that arises is whether these services are what members and potential members are seeking in every area the credit union serves?Another question is whether the presence of in-market com…

How Medallion Loans Present an Existential Threat to Your Credit Union, Even If You Have Never Funded One.

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by Michael Cochrum

When I was five years old, I was out playing in the yard with my brother and cousins after an afternoon thunderstorm in Western Kentucky.  We were playing near the creek that flowed behind our house that had swollen, from the spring rains, to twice its normal size.  What happened next is unclear based on individual testimony, but the consensus is that I ‘fell’ into the muddy creek and had to be ‘rescued’.  I swear that I felt a nudge before falling in and swallowing a mouth full of water, but no one else seems to remember that as clearly as I. 
After being rescued, I rushed into the house, probably crying, to dry off and get fresh clothes.  The only problem is, my mom was inside and once she got wind of what happened, she made us all come in for the rest of the afternoon.  Not only had I ‘almost died’ but now I was the ‘reason’ why everyone else had to spend the afternoon inside.  I was the one who spoiled it for everyone else.  I’m sure you have been the victim o…