Task force to focus on CU member growth, retention

WASHINGTON (5/19/07)--Investigating, reporting on and encouraging credit unions to embrace various opportunities, techniques and processes for increasing membership retention and growth is the aim of a new task force formed by the Credit Union National Association (CUNA).

The Membership Growth Task Force, appointed by CUNA Chairman Allan Kemp McMorris, is aimed at addressing the rate of diminishing growth at credit unions. "Even though we are deeply pleased that credit unions are near or have reached the milestone 90-million members mark, we believe that more consumers can and should be taking advantage of credit unions," McMorris said.

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The CUNA chairman, who said he is making membership growth at credit unions among his top priorities during this tenure, pointed out that credit union membership has expanded only 1.9% annually during the past six years--down from the 1960s and 70s, when member growth averaged about 6.7% annually. Membership expanded only 2.5% annually during the 1990s.

"Clearly, the credit union movement is seeing diminishing returns in the various efforts we are using now to expand their memberships," McMorris said. "This committee will be looking at uncovering new ideas for us to adopt and employ in building our membership bases--and start seeing increasing gains."

According to Task Force Chairman Dick Ensweiler, input and sharing from credit unions will be especially critical as the task force tackles its work.

"We are especially interested in success stories from credit unions of their own 'best practices' in successfully growing their memberships," Ensweiler said. "Credit unions are among the finest innovators in figuring out how to craft business practices to best suit their own memberships. It is those stories we covet, to be shared with other credit unions so that they can learn and deploy their own enhanced membership growth strategies," he said.

To make it easy for credit unions to share--and to get started right away--Ensweiler said the Task Force has already set up a page on the CUNA website to facilitate sharing. Use the resource link below to access it.

Members of the task force will hold their first meeting on June 3 in conjunction with of the America's Credit Union Conference & Expo in Las Vegas. Members include:

• Rod Staatz (MD), vice chairman;
• Gary Furtado (RI);
• Gayle Gustafson (OR);
• Roberta Kozlowicz (IL);
• Mike L'Ecuyer (NH);
• Lamoura Munse (IN);
• John Murphy (ME);
• Winona Nava (NM);
• Mark Outler (GA); and
• Kelly Schermerhorn (OH).

Resource Links

CUNA Membership Growth Task Force