What are the trends Credit Unions will experience in 2010?
IIdi, 1. A spike in credit union mergers is expected in 2009 and 2010: The potential for more credit union mergers, both voluntary and supervisory, particularly in the four sand states is due for a big spike through 2010. When you consider the economic downturn, the challenging real estate market, the corporate losses and balance sheet income, there’s little doubt the number of credit union mergers will accelerate over the next year, as per forecasts. Credit union consultants who specialize in facilitating mergers report an increase in inquiries and predict mergers will increase because of the economy. But according to the National Credit Union Administration (NCUA), the agency that regulates federal credit unions and administers the federal insurance fund, 116 credit unions completed mergers in the first six months of 2009, a slower pace from the 260 mergers in 2008 and 255 in 2007. 2. CUNA’s 2009-2010 Credit Union Environmental Scan (E-Scan) advises credit unions should prepare for a
