Small is beautiful.
That’s the title of a collection of essays by economist E. F. Schumacher but it might as well be the title of a new Filene research report that explores how small credit unions can thrive.
You’re right, mathematically it seems there’s a drip drip drip of small credit union deaths but listen to Taylor Nelms, senior director of research at Filene, and he claims that there is plenty of research evidence to suggest that many credit unions are certifiably healthy.
In this show Nelms offers the details and he dazzles with surprising factoids. Did you know that the first mobile remote deposit occurred at a small credit union? Did you know there’s a small credit union that accepts an Alaska fishing license as an ID?
I sure didn’t know these factoids.
Which brings us back to Schumacher’s book which is something of an attack on the idea that bigger is just better.
Flash over to Nelms who tells us that small often can mean more nimble, faster, more in tune with a specific community.
In this podcast we come not to bury small credit unions but to praise them – and understand they are the faces of the credit union movement.
This show will put a smile on their faces – but also on the faces of all who hope for the best for the credit union movement.
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