As 2012 begins, will the greatest constant continue to be change? During the past year it sometimes seemed as though everything was changing for credit unions:
- The Durbin Amendment, though not a direct hit against most credit unions, fundamentally altered the interchange landscape.
- Regulations made lending a continuing challenge, as credit unions struggled to make the loans that make money.
- A steadily unsteady economy made risk an ongoing issue.
- Consumer anger – and even outright revolt – gave rise to opportunity.
- At the same time, the changes that banks instituted (or attempted to institute) threw old systems into the wind. Free checking? Reward programs? Everything was up for grabs.
- The need for new technology only intensified, as everything from mobile banking to beefed-up security and round-the-clock accessibility became the new normal.