By Donya Parrish, MCU VP- Risk Management
My favorite read every year is the Dave Barry Year in Review. I search out his column religiously every January and am always impressed that he can recap a year in such an entertaining manner. While this blog may not quite measure up to Dave’s standards, here are a few things that came about for credit unions in 2018 that you may have overlooked.
Growth — Credit unions in the U.S. saw very strong growth in membership and lending in 2018. In Montana, those numbers were not as strong for membership, but still reflected a robust economy. Loans grew 7.95% (Jan-Sept 2018) in Montana, compared to 7.49% nationally. Net worth is at almost 12% in our state, and loan to share has improved to over 71%.
Community — In September, many of you attended the regional training sessions with David Reed on Governance and Planning. As part of our community’s initiative, we intend to bring you regular communication (like this weekly blog) as well as training opportunities with your volunteer peers. You have the chance to join a free webinar with Mark Lynch on Jan. 24. Watch for more sessions in 2019, and don’t hesitate to contact me if you have topics or ideas you would like to see.
Advocacy — 2018 was a non-legislative year in our state, but advocacy to educate lawmakers about credit unions and deepen relationships with partner groups and agencies continued. With the Montana session starting next week, your trade association will be front and center in tracking and advocating to support credit unions. If you ever have questions about a particular bill or want to get involved, let Karen Smith know.
Thank you for your help in making 2018 a prosperous year for credit unions! Much of the success in the numbers and reputation of your institutions is directly tied to your hard work as board members. We appreciate all you do and hope you know our “door” is always open for your needs, concerns, and requests. Cheers to 2019!