NWCUA’s 2021 New Markets Awareness Committee Shares Resources for Serving Emerging Markets

Last year, NWCUA’s New Markets Awareness Committee worked collaboratively to define, learn about, and strategize ways to serve emerging markets in the financial services landscape. Committee members then broke into subgroups to develop resources to share with their peers across the region.

Leveraging their collective expertise as well as insight from a variety of expert speakers and thought leaders, Committee members identified three areas of opportunity to research and explore, and after discussing credit union best practices, they developed five detailed use cases to share with Northwest credit unions:

  1. Reaching Latino/Latinx Markets
  2. Understanding the COVID-19 Crisis as a Business Accelerator
  3. Serving Small Businesses
    1. SBA Lending at Credit Unions
    2. Expanding Digital Services to the Small Business Community
    3. Serving the Emerging Freelance/Gig Worker

Credit unions can access and download these use cases by logging in here.

“The Committee really leaned into this effort to expand credit unions’ reach across our three-state footprint,” said Stacie Wyss-Schoenborn, 2021 Committee Chair and President and CEO of Central Willamette Credit Union. “Credit unions have a long history of advocating for financial inclusion for all, and it was wonderful to witness the tremendous energy invested in identifying and targeting areas where we could increase our relevance.”

A key component of the Association’s Cooperative Value Strategy, the New Markets Awareness Committee was formed in 2021 to help ensure credit unions remain relevant and attractive to consumers. With special emphasis on digital channels and evolving member expectations, this committee works with the Association to identify what consumers from emerging market segments deem important, and works to create and share messaging and best practices with credit unions across the Northwest.

To learn more about NWCUA’s Committees and Task Forces, visit them online.

Posted in Committees.