As executives report persistent cyberthreats and evolving digital expectations, credit union leaders must strike a careful balance: Move too slowly and lose ground to competitors — or move too quickly and compromise trust.
Wipfli’s latest state of the credit union industry report explores how to balance growth ambitions with the realities of AI, compliance and cyber resilience. We surveyed credit union executives across the nation to understand their business outlook, pain points and strategic priorities for the year ahead.
Among the executives surveyed:
- Optimism has rebounded but is not evenly distributed: Nearly seven in 10 executives (69%) expect asset growth above 5% over the next 12 months, up from 57% in the prior study. However, confidence was not universal, favoring credit unions with $1B or more in assets.
- Core funding dominates the growth agenda: Deposit growth was selected as the primary growth driver, far outpacing loan growth and net interest margin optimization.
- Digital capabilities top the strategic agenda: Improving digital member engagement and data analytics/AI remain the top strategic focus areas. Exploring new revenue streams climbed in strategic importance this year, overtaking talent as a top-three priority.
- Cybersecurity and compliance remain key constraints: Cybersecurity (including fraud) remains the top concern, followed closely by regulatory compliance. Sixty-three percent of executives report increased fraud in their organizations, while 73% experienced at least one unauthorized network access incident in the past year.
- AI initiatives have surpassed expectations: Fifty-nine percent of executives say AI outcomes have exceeded their expectations, led by fraud prevention and back-office efficiency.
- AI is unlikely to reduce headcount: Seventy-one percent of executives expect AI to have no effect on overall headcount over the next 12 months. In fact, 17% project a net increase in staffing to support new data and AI-related needs.
Download the full report for additional benchmarks, plus strategic context from Wipfli advisors.
