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Why do you need a credit union SWOT analysis?
Performing a credit union SWOT analysis can help find key strengths, weaknesses, opportunities, and threats that the organization can use to redefine its strategies. SWOT analysis is a tool used to evaluate the external and internal environments of a company. It is useful in both decision-making and strategic planning
What should be included in a SWOT analysis?
Below is a simple SWOT analysis template that includes a number of points credit unions should consider: Promote what you “don’t do” that other financial institutions are doing that is not consumer friendly (rather than promote what you “do”)
Why are credit unions a threat to the economy?
Such a highly competitive environment threatens the existence of credit unions and their ability to continually provide lower fees and high-interest rates on savings to its members. Operating as non-profit entities present a threat to credit unions since they need to compete with large commercial banks.
How does a credit union use its strength?
A credit union can exploit such strength by finding alternative income-generating activities. The activities can be tapped to generate revenues to support the organization’s day-to-day operations and invest in activities that directly impact the members.
Last Update: Oct 2021
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