LONDON–The Association of British Credit Unions (Abcul) hosted a group of credit unions from the state of Georgia as part of an information exchange. The exchange included attendance at Abcul’s annual meeting by representatives of the Georgia Credit Union Affiliates, including CEO Mike Mercer.
Mark Lyonette, chief executive of Abcul, said he is hopeful the expansion of UK credit unions will be helped by Georgia’s example. “Mike Mercer gave credit unions the challenge to be vital to our members’ lives,” said Lyonette in a statement. “In the same way, Abcul is striving to be vital to the sustainable growth of our member credit unions with innovative, exclusive new products and services to add to the outstanding value the association already delivers for the movement.”
Mercer told the conference the GCUA is exploring the possibility of a partnership between credit unions in the UK and Georgia.
Mercer told the U.K. credit unions of the battles U.S. CUs have with regulation and with remaining abreast of technology developments, especially the move to a mobile environment.
“I think every credit union is thinking of how to attract younger members,” Mercer added. “All credit unions are acutely aware of reaching out to and servicing younger people, especially between 20-35, in the household formation years. We realize that reaching these folks is going to take place more and more through mobile devices, credit unions will have to get services instantly. There is a lot of work to be done there.”