Expansion through merger is a cost effective way to increase market penetration within the existing market, acquire new branch locations, increase footprint, and add vital fields of membership (FOMs) to the charter.
Our vast experience with boards and CEO’s provides us the insight and compassion to understand the many factors that drive the issues around merging into another credit union, as well as the obstacles that may hinder the process.
Mergers are present in many growth plans as they are an effective way for credit unions to increase market share within existing markets and expand into new markets without the added cost of building out a new branch network organically.
Despite overwhelming success early in his career on the tour, Tiger Woods willingly took the risk of overhauling his swing in order to take him to the top of his profession. As credit unions enter the strategic planning process this year, credit union leaders also have the opportunity to reinvent their business strategies in order to take their credit unions to the next plateau of performance.