Talking Credit Unions from Swoboda Research Centre

• EDITION 36: The Future of Credit Unions: Growth, Youth, and Digital Demands

  Send us a textThe credit union landscape is transforming rapidly across Ireland and Britain.  Fresh legislation has created unprecedented opportunities for innovation – yet significant hurdles remain.How can credit unions balance digital transformation with their co-operative ethos? What strategies will attract younger members while serving existing ones? These questions took centre stage at the recent Swoboda Research Conference in Dublin, where experts shared insights and solutions.American credit union strategist George Hofheimer cut through the noise with straightforward advice: focus on "the boring stuff" – prioritising lending, optimising capital, aggressive expense management, and favourable pricing. This back-to-basics approach must underpin any future vision. Former EU Commissioner Mairead McGuinness cautioned against uncritical digitalisation, highlighting cybersecurity as a "hair's breadth away" from creating serious problems while emphasising that younger generations may not inherently understand the credit union difference.The challenge of attracting younger members emerged as particularly urgent. Cédric Turini from the French co-operative banking network shared their multi-faceted approach: family-focused products, dedicated mobile apps, student loans without personal guarantees, and meeting youth on social platforms with accessible financial content. As credit unions are considering how to engage with AI, Mark Kelly from AI Ireland shared his top tips for the sector.Looking ahead, two major strategic initiatives promise to shape the sector's future. A government-led project in Ireland will examine development paths with input from trade associations, while Swoboda's "United Vision Project" aims to map British credit union evolution through 2035. With collaboration universally acknowledged as essential, the challenge now lies in implementation – through credit union service organisations, potential corporate credit unions, and joint initiatives that can deliver services beyond what individual institutions can provide.As Dr. Paul Jones noted, credit unions aren't merely seeking research for academic purposes – they're looking for "a catalyst for transformation and change." He thinks the opportunity is immense, particularly given the millions who remain financially vulnerable. Talking Credit Unions is a regular podcast dedicated to informing credit union practitioners, leaders, and opinion formers on a variety of industry topics. The podcast is sponsored by the Swoboda Research Centre.

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• EDITION 35: How credit unions can navigate the AI revolution – Top tips from the experts

  Send us a textArtificial intelligence (AI) is rapidly transforming financial services, with 75% of firms in Great Britain and 54% in Ireland already adopting the technology. For credit unions, this presents both opportunities and challenges as they seek to harness AI while staying true to their co-operative values and member-centric mission.In this podcast episode, Anca explores the role of AI in the credit union sector with four expert guests. David Fagleman, Co-founder and Director of Enryo Consulting, shares insights from his recent Swoboda Research Centre paper on AI. With a background in banking policy and innovation, David emphasises the need for inclusive and fair access to financial services as the sector evolves. He argues that credit unions can take the lead on this due to their member-centric approach.Joining from Ireland, Micheál O'Shea and Ciara Prendeville of Metamo discuss their work supporting 16 of Ireland’s largest credit unions. Micheál explains how Metamo's "sprinkling of AI" approach augments rather than replaces human processes. Ciara, Metamo’s Deputy CEO, brings nearly two decades of leadership experience and focuses on strategic innovation and member value across product and service development. She explores some of the challenges faced when implementing AI solutions, offering advice on how to address these.The episode also features Patrick Heaphy, CEO of Youghal Credit Union in Ireland, which serves over 17,000 members. Since taking on the CEO role in 2020, Patrick has overseen major growth and digital transformation, including launching mortgages and current accounts. With a background in accounting and risk management, he also serves on the board of the Swoboda Research Centre.For further insights, listeners can read the Swoboda Research Centre's recent paper on AI. Swoboda members can also take part in an AI webinar in May. Talking Credit Unions is a regular podcast dedicated to informing credit union practitioners, leaders, and opinion formers on a variety of industry topics. The podcast is sponsored by the Swoboda Research Centre.

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• Mergers, CUSOs and Collaboration

  Send us a textCollaboration and mergers within the credit union sector may become more prevalent in future as credit unions in Ireland and Great Britain are navigating the challenges of maintaining their local identity while achieving economies of scale. This podcast, with expert commentary from Nick Money of the Swoboda Research Centre and Paul Norgrove, CEO of Serve and Protect Credit Union and Ronaldo Hardy from the USA association NACUSO, tackles the strategic decisions credit unions are facing as growth and efficiencies become needed. The guests share their perspectives on the importance of understanding member needs, the emotional and operational hurdles of mergers, and how Credit Union Service Organisations (CUSOs) offer a promising path for growth. Explore how tailored services can create win-win scenarios and why maintaining a focus on members is crucial in an ever-changing financial landscape.This episode also sheds light on the emotional challenges faced by credit union boards and the critical balance of power in working with CUSOs, ensuring that you come away with an better understanding of the world of credit union collaboration.Talking Credit Unions is a regular podcast dedicated to informing credit union practitioners, leaders, and opinion formers on a variety of industry topics. The podcast is sponsored by the Swoboda Research Centre.

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• Credit Unions are ethical...aren't they?

  Send us a textCan credit unions truly be the gold standard of ethical finance? Join our enlightening exchange with ethics-man Barry Clavin, as we scrutinize whether these institutions are walking the talk of their cooperative principles. We traverse the complex terrain of credit union ethics, addressing their genuine commitment to these values, and the potential benefits of adopting a unified ethical identity. Are there any lessons to be learnt from landmark policy of the Cooperative Bank. Barry sheds light on the strategic advantages such alignment could offer, setting credit unions apart in a financial industry often marred by scepticism.Step into the world of credit unions, where Louise  Shields, at Claddagh Credit Union, describes the emotional bonds woven with members and community-centric values. She paints a vivid contrast to traditional banking models.We explore the manifestation of Hey Credit Unions ethical values through the experienced lens of John Smith, and how it reflects a dedication to a wide array of stakeholders. Mick McAteer's insights on economic and social justice underscore the importance of authentically presenting ethical standards to attract a diverse member base.  Rob Harrison explains how the Ethical Consumer Association sees credit unions and emphasises the need to ensure the business is effective and efficient (to its customers or members) as well as considering an ethical dimension. Talking Credit Unions is a regular podcast dedicated to informing credit union practitioners, leaders, and opinion formers on a variety of industry topics. The podcast is sponsored by the Swoboda Research Centre.

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• Human touch versus Digital Banking for Credit Unions?

  Send us a textListen to a conversation with George Hofheimer, the advisor and author of "Banking on the Human Scale." As we navigate the challenges that credit unions face in the digital era, George illuminates the path ahead, offering strategic insight into blending technological investments with the human service that defines credit unions. The traditional face-to-face service is not lost, but rather enhanced as George makes a compelling case for a harmonious merge of the old and the new. This conversation is an essential precursor to the upcoming Manchester Swoboda Credit Union Conference, in November, that aims to unravel the challenge of credit unions and their digital appetite.At the Swoboda Credit Union Conference, George Hofheimer shares his wisdom, this time focusing on simplifying operations in the digital era.  George expounds on how credit unions can prioritise investments and redefine senior recruitment in the digital age. The digital transformation, laden with complexities, becomes less daunting as George guides us through. George gives us a taste on this digital landscape while retaining that unique human touch.Talking Credit Unions is a regular podcast dedicated to informing credit union practitioners, leaders, and opinion formers on a variety of industry topics. The podcast is sponsored by the Swoboda Research Centre.

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