![Breaking-Down-Concerns-CU-Leaders-Blog-Image_FNL[78]](https://blog.srmcorp.com/hs-fs/hubfs/Breaking-Down-Concerns-CU-Leaders-Blog-Image_FNL%5B78%5D.jpg?width=829&height=476&name=Breaking-Down-Concerns-CU-Leaders-Blog-Image_FNL%5B78%5D.jpg)
It’s an understatement to say that 2023 has been demanding for credit unions.
A flurry of interest rate hikes has created balance sheet challenges. The recent failures of two large banks, and the voluntary liquidation of another, have created questions about the public’s underlying confidence in the financial services industry.
Topics: Digital Banking, Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Deposits, CFPB, Overdraft Fees
![Diversifying-Deposits-Base-Blog-Image[22]](https://blog.srmcorp.com/hs-fs/hubfs/Diversifying-Deposits-Base-Blog-Image%5B22%5D.png?width=829&height=476&name=Diversifying-Deposits-Base-Blog-Image%5B22%5D.png)
We were already seeing banks and credit unions step up efforts to attract and retain deposits before last month’s bank fallout resurrected discourse about the importance of liquidity.
Financial institutions of all sizes are doubling efforts to hold onto depositors while serving people who have moved their accounts from Silicon Valley Bank, Signature Bank, and others. Deposit balances have become a hot topic – the Independent Community Bankers Association just announced that it would be a focus of its next fintech accelerator season.
Topics: Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Deposits, liquidity, Checking Accounts
