The Shrinking Credit Union Industry: One Observer Weighs In

Thursday | 2:30pm – 3:30pm
Jim Kasch
Magnolia 4
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Over the last twenty years, more than half of all credit unions have disappeared due to mergers, acquisitions, or conservatorship.  Over the past six years alone, a remarkable 3.9% of credit unions have disappeared each year.  Join Jim Kasch for his observations on what is really causing this consolidation, and why he expects the rate of consolidation to accelerate over the next few years.  He’ll share his prediction for what the credit union industry will look like in 2024, and provide questions your credit union must address if you still want to be part of the industry at that time.

About the Speaker

Jim Kasch has more than twenty years business experience, most of which with credit unions.  His roles range from teller to CEO. He spent more than ten years with Partners Federal Credit Union (formerly Vista FCU) which serves The Walt Disney Company, where he led marketing, business development, sales, and strategic alliances.

In 2010, Jim was hired to be the Chief Executive Officer for Darden Employees Federal Credit Union (DCU), chartered to serve the more than 200,000 employees of Darden Restaurants, Inc. In six months, he and his team built a primarily virtual delivery credit union offering a full suite of products and services.  Since its launch, DCU has more than tripled its asset base, grown 6 times in loan balances, quadrupled income, and grown seven times in members served.

DCU’s unique business model extends to its robust relationship with its sponsor which positions the credit union as a business partner rather than only a service or benefit to employees.  Nearly 90% of Darden employees are Gen X or Gen Y, making DCU’s field of membership one of the youngest and largest in the country.

In 2014, Jim helped orchestrate the merger between DCU and USF Federal Credit Union in Tampa, Florida.  In 2015 he established his own consultancy.

 

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