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Research Report

Business Services 2.0: A Credit Union Playbook for Growth

Time to get out in the community and out-local the competition. Get highlights from Cornerstone Advisors Research reflecting key issues, challenges, and opportunities faced by bank and credit union executives.

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What You'll Learn in this Report

  • Small businesses constitute 99.9% of U.S. businesses, employ 47.1% of U.S. workers, and account for 60% of job growth. COVID-19 increased new business applications by 24% in 2020.

  • Financial institutions have not adequately supported small businesses, with many receiving no offers of help during the pandemic, leading to perceptions of indifference.

  • Credit unions are seen as slow in improving offerings, particularly in mobile services. They need to provide adaptive services, skilled staff, and smart technology to meet small business needs.

  • Business services have evolved, with credit unions focusing more on diverse lending and deposit growth, and now aiming to deliver superior service and align technology with growth strategies.

 

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About Cornerstone Advisors

At Cornerstone Advisors, our goal is to deliver tangible business impact to financial institutions and fintechs. We know that when institutions improve their strategies, technology, and operations, enhanced financial performance naturally follows. Because we live by the philosophy that businesses can’t improve what they don’t measure, we show banks and credit unions how to use laser-focused measurement to make smarter technology decisions.