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Report #575 |

Small Credit Union Collaboration: Sharing Knowledge, Services, and People in a Digital Economy

Credit unions are built on collaboration. This report explores new opportunities and risks in small credit union back-office collaboration with a focus on technology, infrastructure, governance, and culture.

  • Anette Broløs Associate Consultant at Finthropology
  • Erin B. Taylor Founder + Consultant at Finthropology

Executive Summary

Collaboration among credit unions is not a new concept, and many organizations across the industry have worked together in different ways. However, despite the relative prevalence of collaboration taking place, little information exists to understand collaborative practices at a deeper level. 

Through seven case studies, three different types of collaboration—shared knowledge, shared services, and shared people—are explored, along with the value these collaborations bring to the organizations involved. They will lay the foundation for understanding collaboration, specifically between small credit unions, across topics like what effective and meaningful collaboration among credit unions looks like in practice, the value collaboration creates for credit unions, and how credit unions can leverage collaboration to grow in an increasingly digital economy.

Credit Union Implications

For smaller credit unions, collaboration in the digital economy is key to meeting sustainable goals to enhance the efficiency and effectiveness of financial initiatives and to providing access to a new range of digitally-enabled products and services. Regardless of size, collaboration offers credit unions a strategy to achieve more together than they can individually, allowing for more ways to scale and grow the reach, sustainability, and impact of not only each organization, but of the credit union system as a whole. 

Download this report today and learn more about the value collaboration can bring to your organization. 

Filene thanks TruStage for making this research possible.

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