BOSTON — The number one challenge for credit unions are lower profit margins followed by identifying ways to attract new members, according to a report released today by Aite Group, LLC.
The report is based on the results of a survey of 101 credit unions, all with more than $100 million in assets. It is part of a larger Aite study of 201 credit unions and the first of a series of reports on this market segment.
Approximately 36% of credit unions surveyed said lower profit margins continue to be their top priority. Thirty-four percent said finding ways to attract new members was their biggest challenge.
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