CUNA CEO raises concern about the future of credit unions

first_img 184SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » CUNA President/CEO Jim Nussle said Friday at the Southeast Credit Union Conference and Expo that he is concerned about the future of credit unions.To illustrate his concern, Nussle displayed a graphic on the big screens that told the story.In 1992, about 41% of all the assets were managed by the top 100 financial institutions. That number grew to 75% in 2016. In that same year, about 53% of total assets were managed by community banks. That number has declined to 17% in 2016. For credit unions, market share was 5.6% in 1992, and while it has ebbed up and down over the last 25 years, credit union market share edged up to 6.8% by the end of last year.“The good news is that (we have) about 110 million members with $1 trillion in assets, but we’re not moving and we’re not growing,” Nussle said. “But the point I look at when I see this chart is what’s happening with the rest of the market and why is it happening. You see the smaller, community banks? I would argue the biggest story of this chart is that they are getting their lunch eaten…handed to them. Their options are running out. They had more than half of the market at one point in time and now are ready to go out of business.”last_img read more

Hidden strengths

first_imgWould you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletters To access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.last_img

VIDEO: McDan Open West Africa starts on a thrilling note

first_imgThe McDan Open West Africa Tournament saw thrilling start with All Africa Games gold medalist Wisdom Na-Adjrago qualifying for the next stage.The tournament sponsored by McDan Shipping, Rush Energy Drink from Twellium Industries and West Blue Consulting, has a total prize money of  $5000 and is drawing a lot of enthusiasm. Wisdom Na-Adjrago who is also the current top seed, showed early signs of a leap into the final stages after seeing off fellow countryman Charles Asmani 6-1, 6-1. In an interview with Joy Sports, Na-Adjrago said his win was as a result of thorough preparations.  had done a lot of training . “I am prepared for every player in this tournament. I worked very hard and want to show it in my performances. My opponent is tough and can easily frustrate you with his play but I kept my cool and played well.”He was excited on his performance and is looking forward to replicating it as he progresses. “I played well today and kept the ball on the court. so it was good. I am looking forward to winning,” he said.In other results, Emmanuel Plange beat Bernard Ashitey Armah 6-1, 6-2. Isaac Titriku beat Francis Gbolonyoh in the best of three sets.Francis Akpese staged a spirited fight but was not strong enough for Isaac Dapaah, with the game ending 7-6, 7-6, 3-6, 6-2. The tournament’s first winner Japhet Bagerbaseh also booked a place in the next stage of the competition in two straight sets. Some big games are expected on Tuesday on Tuesdayh the likes of Nigeria’s Wale Babalola facing Ghana’s Andrews Appiah, Togo’s Kantanga John Paul will pit his strength against Ghana’s Stephen Nartey. Ghana’s Daniel Quartey plays  Kulibali Frederick of Cote d’Ivoire while Joel Meda of Burkina Faso faces B. Fumi of Ghana.Another Ivorian, Guillaime Kofi will seek qualification to the next phase as he battles Cedric Dzelu with Togo’s Bernard Alipoe playing Nii Noi Ababio.In other fixtures, Nigeria’s Michael Moses will pay Albert Nti of Ghana, while Benjamin Palm and Felix Hammond face off in an all Ghanaian tie.VIDEO   –Follow Joy Sports on Twitter: @JoySportsGH. Our hashtag is #JoySportslast_img read more