....I just think it would be good to be invested locally in a CU also for a variety of reasons, but because CU's are small and local I was just wondering whether it was easy enough to compare them, in terms of services, financial health, rates etc. I'm still surprised there isn't somewhere that does that - even the ILCU perhaps for its members.
I just think it would be good to be invested locally in a CU also for a variety of reasons, but because CU's are small and local I was just wondering whether it was easy enough to compare them, in terms of services, financial health, rates etc. I'm still surprised there isn't somewhere that does that - even the ILCU perhaps for its members.
The ILCU does do something like this for its member credit unions in that quarterly prudential returns are analysed at a national level as well as by asset group. This report, called PEARLS,
...... In saying that, I don't think things are as bad as they may appear to be. If they could make some evolutionary changes to the business model and get on board with initiatives that pool resources centrally for better use they could turn things around. The cost base for the movement is crazy.
I agree with you about evolutionary changes to the business model and the cost of running the movement, but those benefiting without having to work very hard would hardly encourage change, would they ?
....If they were even able to get their act together in terms of co-sourcing a lot of the back office stuff they'd be able to reduce their cost base considerably and refocus their efforts on growing their loan books.
The back office stuff is one area I would have thought the ILCU should be able to help by providing central functions, but for some reason... it doesn't seem to have crossed their minds
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