Summary
The State of Credit Unions Report is a research document that outlines the findings from a survey conducted with 106 C-level executives at credit unions across the U.S. The report presents insights into the growth strategies, priorities, and concerns of credit unions as they approach 2025. Key findings indicate that 96% of credit unions expect growth in the next year, with over half forecasting asset growth of 5% or more. Cybersecurity is highlighted as a significant concern, with 49% of respondents reporting an increase in fraud and 76% detecting unauthorized access to their networks. The report details the strategic priorities for credit unions, including improving digital engagement and investing in cybersecurity technologies. It also discusses the challenges faced by credit unions in achieving their strategic goals, particularly in the context of the evolving regulatory environment and the need for enhanced digital transformation. The document concludes with a focus on the importance of adapting to the changing needs of younger consumers, particularly Gen Z.
