Analysis of Small Credit Union Trends and Opportunities for Accountants

Megan M. Burke


This paper reviews the benefits small credit unions confer to their members and communities, the decrease in the number of institutions and members in recent history, the challenges facing small credit unions today, and how accountants can help small credit unions reverse these negative trends. Credit unions are able to pay higher interest rates on deposits, charge lower rates on borrowings, and charge fewer and lower fees than traditional banks. Additionally, bank customers benefit from the presence of credit unions through increased competition on rates. Credit unions also serve traditionally underserved populations and, in the past, experienced high customer satisfaction ratings. However, there has been a reduction of 22 percent in the number of small credit unions since 2008. This decrease can be linked to a decline in customer satisfaction, which is a result of the increased compliance and regulatory burden on already overworked staffs. Accountants, by providing compliance support and strategic planning advice, can help small credit unions reverse these negative trends and thrive. 

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Accounting and Finance Research
ISSN 1927-5986 (Print)   ISSN 1927-5994 (Online) Email:

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