The economy is struggling due to labor shortages and soaring interest rates, the CFPB and Attorney Generals are paying close attention and exposing potential borrower sensitivity concerns, all the while credit unions are striving to embrace a mindset of innovation amid economic crisis.
Against the recession-like backdrop sits the credit union movement, positioned to innovate and grow like never before. During the financial crisis of 2008-2009 many credit unions missed the mark. Consider this a second chance, not something that many leaders have during their career. With the right mindset, credit union leaders can take advantage of the growth opportunities the current economic landscape presents.
Watch Allied Solutions’ CEO Pete Hilger as he recently addressed a room of credit union executives on the importance of being innovative in order to successfully grow.