Finding New Business Opportunities by Expanding Your Market

Credit union service providers define their target market based on where they see the best business opportunities. Those business opportunities often revolve around the asset size of the credit union or the size of their membership. Having a large membership base means a credit union has to service more people with potentially greater deposits, and as such the credit union's needs are amplified. However, selecting a target market of credit unions based solely on cut-off standards, i.e., all credit unions over $50 million or 10,000 members, will eliminate many strong prospects.

 
 

Credit union service providers define their target market based on where they see the best business opportunities. Those business opportunities often revolve around the asset size of the credit union or the size of their membership. Having a large membership base means a credit union has to service more people with potentially greater deposits, and as such the credit union's needs are amplified. However, selecting a target market of credit unions based solely on ''cut-off'' standards, i.e., all credit unions over $50 million or 10,000 members, will eliminate many strong prospects.

Credit unions in the $10 million to $50 million range do not have the same size and scope of their larger brethren. And, when viewed as a group, their collective performance is also not as strong. However, there are almost 3,000 credit unions in that range, and many of them are growing quickly and competing with larger credit unions.

 

 

 

May 5, 2003


Comments

 
 
 
  • how do i get a list of these 4824 CU's? you can email me at mveprin@fnf.com
    Anonymous