As nonprofit organizations, credit unions are able to provide a wide range of financial products and services at a lower cost than other financial institutions. Since the statutory mission of credit unions is to serve predominantly the individuals and households underserved by mainstream lenders, many of them are making efforts to extend the availability of affordable home loan programs to a higher number of potential borrowers.
Manufactured Housing News
Due to the stimulus packages designed to help families during the pandemic, credit unions have seen a steep increase in deposits. But higher volumes of deposits bring on a new challenge; namely, finding new investment opportunities that allow credit unions to deploy their excess liquidity into higher earning assets.
When it comes to portfolio diversification strategies, there are no one-size-fits-all solutions that could meet the needs of every credit union. In general, however, a credit union must be efficient and innovative in order to address specific challenges and achieve optimal portfolio diversification.