Ted Bilke, president of core provider Symitar, a division of the Monett, Mo.-based Jack Henry & Associates, offered several 2017 trends and predictions that could impact credit unions directly or indirectly.
1. Growth Strategy
Geographic expansion will continue. “Larger credit unions will reach into more expansive regional territories, especially if the NCUA allows credit unions to expand their charters.”
M&A consolidation will continue its steady pace for credit unions below $50 million in assets; it may even escalate due to increasing pressure from auditors.
The small business market will grow among credit unions, with more institutions seeking to grow and diversify their portfolios through member business lending and deposits.
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