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5 Key Challenges Credit Unions Must Face

Credit unions are at a critical fork in the road right now: the financial industry is changing and customers’ expectations are rapidly evolving, credit union membership is aging, and mergers are increasingly the path to growth and competing with commercial banks.

A lengthy report from the University of Toronto’s Rotman School of Management identifies some key areas where credit union boards need to improve. Most importantly of all, credit union boards need to look at the hard facts of their place in the market and how they can compete against commercial banking and online banks.