Thriving Smaller Credit Unions: The Value of a Puzzle-Solving Mindset

Date: Wednesday, December 7, 2022
Time: 1:00 - 2:00 PM CT
Duration: 60 minutes

Of the 5000+ credit unions in the United States, the vast majority have less than $500 million dollars in assets.¹ Smaller credit unions may serve a unique role in the U.S. consumer financial services landscape, helping meet the needs of underserved communities and offering local focus and connections in an increasingly crowded and competitive industry. Yet these credit unions may also face special challenges. What are the drivers of success for smaller credit unions? What markets do smaller credit unions serve, how can they leverage the unique strengths of their size, what characteristics do leaders of successful smaller credit unions share, and what role can collaboration play in supporting and accelerating their growth? Hear findings from a groundbreaking research collaboration between CUNA Mutual Group and the Filene Research Institute that shed light on how smaller credit unions may survive and thrive into the future.

Speakers

Taylor C. Nelms

Senior Director of Research
Filene Research Institute

Dr. Taylor C. Nelms is the Senior Director of Research at the Filene Research Institute, an independent, non-profit think tank. He is an anthropologist and ethnographer with more than ten years of experience studying consumer and cooperative finance in the United States, Latin America, and around the world. At Filene, Taylor manages a team of researchers and a portfolio of partnerships with leading scholars to pursue cutting-edge, actionable research that explores people’s changing economic lives and the past, present, and future of money, technology, and the business of financial services. Before joining Filene, Taylor worked as a Postdoctoral Researcher at the University of California, Irvine, where he received his PhD in Anthropology. He also holds degrees from the University of Cambridge and Ohio State University.

Carma Parrish

CEO
NorthPark Community Credit Union

Carma Parrish is CEO of NorthPark, a $46M LID and CDFI community credit union in central Indiana. NorthPark is the first and only 100% virtual credit union in the nation, for both membership & staff. She believes in the grassroots of small credit unions with a mission and passion for serving the underserved. Carma serves the credit union industry in several capacities. She is a founder of the Credit Union Women’s Leadership Alliance (CUWLA) made up of female CEOs of credit unions less than $300M in assets and is an active member of its Marketing Committee. Carma is also a contributor to the Credit Union National Association (CUNA) Small Credit Union online community, a member of CUNA’s Credit Union System Digitization Working Group, a member of the CUNA Mutual Select Credit Union Council and she serves on the Indiana Credit Union League Product & Service Committee.

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¹CUNA Mututal Group, internal data, October 2022
CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates.
CORP-4970303.2-1022-1124

Thriving Smaller Credit Unions: The Value of a Puzzle-Solving Mindset

Speakers

Taylor C. Nelms

Carma Parrish

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