The Outlook of Credit Unions: What Merger Integration Means for this Trillion Dollar Industry

SEATTLE, Oct. 11, 2017 /PRNewswire-iReach/ -- Few industries have such a definitive financial path as that which defines today's credit union economy. In 2016, the average credit union size was $219 million dollars. By 2036, the number of credit unions is expected to decline by 45% from those which existed in 2016; however, the average value of each credit union is expected to increase to $2.6 billion in that same timeframe.

As the average credit union size increases, the number of credit unions is simultaneously shrinking. Because of this, thoughtful merger strategy has become the number one topic for successful credit union leaders.

Glenn Christensen, President of CEO Advisory Group, explains, "We often hear leaders say they don't want to grow their credit unions for growth's sake. In fact, that approach will almost assuredly kill a credit union in today's market."

CEO Advisory Group, an organization that specializes in merger integration, strategic planning and assisting with succession planning, recently released a white paper entitled From Discovery to Integration: How to Manage the Four Phases of a Successful Credit Union Merger. In 20 years, nearly half of the existing credit unions will be gone, taken over by more successful organizations that planned ahead. CEO Advisory Group's guide identifies the four essential phases those credit unions that manage to survive will need to undertake:

  • Discovery & Integration
  • Due Diligence
  • Communication & Approvals
  • Integration

Christensen notes, "The number one question credit union CEOs and board members should be asking each other is this -- 'Are we satisfied just surviving as a credit union, or do we have an obligation to our members to thrive?'"

CEO Advisory Group is available to assist credit union leaders with a multitude of merger integration services, including acquirer representation, acquiree representation and advisory and integration services. The firm can be reached at (206) 219-5395 or via the contact form on the company's website.

A free copy of the white paper can be found at www.ceoadvisory.com

To view this video on YouTube, please visit: https://youtu.be/89j5gVcw3fA

Media Contact: Glenn Christensen, CEO Advisory Group, 206-219-5395, glennc@ceoadvisory.com

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SOURCE CEO Advisory Group



2017

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Money


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Banking & Financial Services


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