Credit unions have been growing as of late, and they can continue this trend by offering more features to their local branches, such as ATMs. Credit union membership is growing in places like Michigan, according to the Oakland Press. Membership grew by 97,000 in 2014 by the third quarter. Members also began borrowing more from their credit unions.
"Consumers and small businesses in Michigan continue to discover the great service and tremendous value at credit unions in record numbers," Michigan Credit Union League and Affiliates CEO Dave Adams told the publication. "We haven't seen growth numbers like these in decades."
A great way to build off the trust and faith that people have in credit unions is to prove excellent service through ATMs. These products inspire confidence in members by letting people who want to make quick deposits or withdrawals do so quickly and easily without getting into lines. The lines at the credit union are thereby also shortened because only the people seeking help for loans or other businesses will visit the front desk. As a result, credit unions will be seen as very convenient and membership will grow.
Loans are expanding in many factors - not just in Michigan but all over the U.S., according to the "Credit Union Trends Report" from CUNA Mutual Group. Loans grew in 2013 as well, suggesting that small businesses and prospective home owners are going to credit unions to get the help they need.
Credit unions can provide a major benefit to their members by giving them personalized attention and access to convenient services. A collection of ATMs in the lobby keeps the credit union staff free to help people who want the individualized care associated with personal banking. In general, when people visit periodically to check on their finances with a professional who manages loans, members of a credit union will enjoy an accommodating atmosphere that meets their needs.
January 16, 2015