Let's not let this happen to any Firefighter Credit Unions!
Do the math. Look to your right. Look to your left. One in three credit unions will vanish by 2025.
By 2025, the United States will have around 4,500 credit unions. Many smaller credit unions don’t have the wherewithal to compete with banks.The cost of technology and regulations will continue to take a toll.
Every day, six days a week, a credit union closes and never re-opens.
That has been going on for many years. More than 3% of credit unions have annually closed for the past decade. By 2025, the United States will have around 4,500 credit unions.
Find out more in this week's preview from next week's CU Times print edition.
Mergers Will Continue to Cull the CU Herd: Print Preview:
“Celebrating 25 Years of Service: Unite, Ignite, and Empower” “We train and support volunteer leaders of credit unions serving first responders to run stronger, more effective institutions.” “Great things happen when credit unions serving first responders come together. Our face-to-face and on-line interaction is the platform where collaboration begins, and GREAT ideas are generated.”
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