ECONorthwest Brings Deep Planning, Finance and Economics Expertise to Credit Unions
May 23, 2015
May 26, 2015
Northwest credit unions are very familiar with the work of ECONorthwest. The economic consultancy conducted a study of credit unions’ impact on the Northwest economy, with staggering results.
Credit unions who took part in the study have seen what ECONorthwest can do for individual institutions. Each participating credit union received an individualized report showing its unique impact in its community and region.
Now, Strategic Link is bringing the power of ECONorthwest consulting to all Northwest credit unions through a unique partnership.
“The kinds of insights credit unions need are right in our wheelhouse,” said Dr. Mike Wilkerson, Ph.D., who led the Northwest Credit Unions’ Economic Impact Report. “We learned a lot through conducting the impact study. We talked to many credit union leaders who told us what kinds of information were most valuable to them.”
Imagine a credit union considering expansion into a new community. This credit union is going to want to know a number of things:
- Is its growth plan aligned with broader economic trends?
- Is the new community a good fit for the credit union’s products and services?
- What is the ideal location for a branch?
- What is the value of real estate in the new community, and how will that value change over time?
ECONorthwest is an expert partner in answering precisely these questions, said Wilkerson. He outlined a few areas where the needs of credit unions match ECONorthwest’s expertise:
- Economic forecast presentations to boards and executives;
- Real estate value analysis helpful in determining viability of branch locations;
- Market studies to better understand current and potential business areas; and
- Detailed economic reports detailing credit unions’ impacts in their regions.
“The credit union landscape is influenced by the broader economy, local market forces, demographic trends, real estate market movements and much more,” said Wilkerson. “We can give credit unions a clearer picture of all of these factors, so that they can make better strategic plans.”
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