February 25, 2014

CUs identify top 3 challenges in 2014

Regulatory burden, loan growth and income. These are the three big 2014 challenges NAFCU members overwhelmingly cited in responses last week to an online poll via the Musings from the CU Suite blog.

The Musings blog is run by Anthony Demangone, NAFCU's executive vice president and chief operating officer. Last week, he used the blog to poll credit unions on three questions:

  1. What are your credit union's biggest challenges in 2014?
  2. What are the three biggest things affecting your personal performance in a negative way?
  3. What can NAFCU do (better, differently) to help you or your credit union in 2014?

Demangone addressed responses to question 1 in today's post. He created a word cloud to illustrate the magnitude of credit union respondents' concerns, and he offered this hope: "That NCUA, the CFPB and Congress somehow digest this chart. The economy, coupled with an ever-increasing regulatory burden (much of which dissuades lending), has America's credit unions caught between a rock and a hard place." Read more.