River Federal Credit Union: The Need for Growth

River Federal Credit Union: The Need for Growth

Dale Varble, Joyce A. Young Journal of Critical Incidents
January 01, 2017
SKU: BUS-628

Region of the world: North America
Topic: Strategy & General Management, Marketing & Sales
Keywords: market segmentation, market planning, market factors, environment trends, competition, financial services, non-profits, credit unions
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The River Federal Credit Union’s board of directors’ strategic and tactical planning session had just adjourned. Through a lengthy discussion, the nine-person board had identified and examined three strategic marketing options that could continue the credit union’s success path. Each option involved financial services that could grow membership in the credit union. The board was eager to see growth in members that would both make deposits and obtain loans. Such expansion was critical, given the greater use of technology and regulations in the credit union sector and their associated costs. A larger membership base would allow the board to spread the costs across more individuals, thus easing the burden on current members. Students are asked to decide which course of action Linda Clark, Chief Executive Officer of the credit union, should recommend at the next monthly board meeting.

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