The End Of The Decade As We Know It

The industry ended fourth quarter on a high. What comes next is anybody’s guess.

We were weeks into production of the fourth quarter issue of Strategy & Performance when the world changed. As I write this letter, pressing social and economic concerns are affecting everything and everyone from global markets to gig workers, and there is still a lot we don’t know yet. The coming months will more fully reveal the impact of the novel coronavirus on the world, the United States, and the credit union movement and its membership.

If there is one thing we do already know, it’s this: We’re serving the right industry. As they did a decade ago, financial cooperatives are willing and ready to meet the needs of everyday Americans. By continuing to encourage collaboration, engender concern for community, and place people before profit, the credit union movement can do its part to serve the needs of those in need. In the months ahead, credit unions will need to consider purpose in every decision they make.

In this issue, we’ve included a special section, written by Callahan’s senior leaders, outlining three essential elements critical to the future success of credit unions. Purpose is one of them.

Readers looking for the quarterly industry trends they’ve come to expect from Callahan’s industry analysts will find them in this issue. Callahan’s analysts break down the ways in which 2019 capped the most successful decade in the history of the credit union movement.

Elsewhere in the book, our Anatomy Of A Credit Union subject, Northern Credit Union, shows how investments in culture and technology pay dividends for its rural membership. Read the full profile here. And, don’t forget to check out the nominees and winners of our third annual Innovations Series, which ran on CreditUnions.com earlier this year.

We thank you for your readership and hope you’ll continue to rely on CreditUnions.com as well as future issues of this magazine for lessons and best practices learned during the months ahead. If you have ideas to share, our inbox is always open; please email editor@creditunions.com. We’d love to tell your story.

April 16, 2020

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