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News Now

CU System
N.Y. small CUs tell what keeps them up at night
ALBANY, N.Y. (12/1/09)--Future credit union leadership, growth, staff and membership retention are just a few things that keep small credit unions awake at night, according to the Credit Union Association of New York.
Click to view larger image Presenter Mark Smith discussed strategies for credit union survival and growth at the Credit Union Association of New York’s fifth annual CEO Roundtable for credit unions with assets up to $50 million. (Photo provided by the Credit Union Association of New York)
The association recently held its fifth annual CEO Roundtable Nov. 17-18 in Syracuse, N.Y. The event was geared toward credit unions with $50 million in assets or less. “The association first developed this event not only to present learning and networking opportunities for our member credit unions with up to $50 million in assets, but also to have a better understanding of the issues, wants and needs of those credit unions’ executives,” said William J. Mellin, association president/CEO. During the roundtable, groups of credit union representatives discussed some of the challenges they face. Some of the concerns included:
* Long-term viability of credit unions and corporates; * Future credit union leadership; * Net worth and earnings; * Loan losses and delinquency; * Compliance with National Credit Union Administration rules; * Growth; * Staffing issues; * Member retention; and * Liquidity access.
Presenter Mark Smith, CEO of Mark Smith Inc., a Utah-based consulting firm for small and mid-sized credit unions, also encouraged credit unions to “think outside the box” when dealing with things such as asset liability management, and presented examples of how credit unions can generate more income. George Towle from The Rochdale Group plus CUNA Mutual Group also participated in the roundtable. Alison Doney, association community development coordinator, spoke about ways credit unions can reach new demographics through Facebook, Twitter and other online media.


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