CUNA Releases New Environmental Scan
June 20, 2011
June 21, 2011
The Credit Union National Association (CUNA) has just released its 2011-2012 Environmental Scan (E-Scan). Based on extensive research conducted by CUNA’s National Research Group, the E-Scan presents trends and projections critical to the credit union movement and ideas for action. The report is commonly used by credit union executives and boards for strategic and business planning.
The emphasis of this year’s E-Scan is two-fold: to help credit unions take advantage of the gradual economic recovery and to help their boards of directors meet the higher expectations for financial literacy set by the NCUA. In fact, four of the 14 chapters in this year’s 100-page E-Scan are dedicated specifically to helping boards meet—and exceed—NCUA’s higher standards. The remaining 10 chapters address future trends and projections for key operating areas, such as lending, demographics, marketing, economics, technology, compliance and more.
Highlights from the 2011-2012 E-Scan include:
- Credit union loan balances are expected to rise 4% in 2011 and 6% in 2012, following a decline of 1.5% in 2010. Auto loans, private student loans, credit card loans, and purchase mortgages will hold potential for most credit unions through 2012;
- Credit union earnings will climb back to 60 basis points this year and 70 basis points in 2012 (after NCUA’s corporate assessments of a projected 20 basis points this year and 15 basis points in 2012). Cost-containment will continue to be an important strategy until the economic recovery gains traction; and
- Nearly 70% of consumers age 18 to 24 are “not at all familiar” with credit unions. No other age group has such a high level of unfamiliarity with credit unions. Mobile banking and social media are two essential strategies for reaching this important age group.
Based on expressed interest in affordable, comprehensive planning resources, CUNA is now offering a specially priced bundle of strategic planning products, including E-Scan, to help credit union planning teams throughout the year:
CUNA’s Strategic Planning Package
- 12 copies of the 2011-2012 E-Scan Report, which covers all major operational areas and topics related to improving board performance
- The choice of a 35-minute DVD or 100-slide PowerPoint Presentation designed to help focus planning meetings by giving a high-level overview of the entire 100-page report
- A one-year subscription to the E-Scan Newsletter to keep directors and management teams up-to-date on the latest, most relevant trends in the financial services industry
- An intuitive strategic planning guide to help set actionable short and long-term goals
- Full basic access to the online E-Scan research and advice portal for expert insight through articles and research reports
For more information or to order please visit escan.cuna.org/planning or call 800-356-8010 and press 3.