Can small credit unions survive?
Carla Bienz is CEO of Partners 1st Credit Union in Fort Wayne IN – an institution where she has worked since she graduated from college and where she now is CEO. And she has keen insights into the plight of smaller credit unions and what they need to do to survive and prosper.
Partners 1st, by the way, now is approaching $400 million in assets after multiple mergers. It also has 24 branches in seven states.
One reality Bienz accepts: to stay relevant Partners 1st has to continue to grow.
Another reality: it needs a lot of help from fintechs but, says Bienz, the right fintechs level the playing field for smaller credit unions.
Along the way Bienz talks about why she is exploring CDFI status and she ponders the existential question: how can credit unions with under $100 million in assets survive.
She is exceptionally candid. Soft spoken but thoughtful. Listen and learn.
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