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The Elan Credit Card team joined thousands of credit union professionals in Washington D.C. February 26 – March 2 to celebrate, share, and support the credit union movement.

Throughout the week our team attended sessions, met leaders from across the country, and connected with current partners in person. Our team was also honored to attend the CU Pride Reception and African-American Credit Union Coalition Hall of Fame Induction. 

While our conversations ranged from artificial intelligence to advocacy, these three themes emerged as top concerns and areas of opportunity for credit unions. 

1. Liquidity: Inflation, slowing deposit rates, and CECL implementation narrowing margins have many credit unions facing liquidity pressures. Leaders examining their balance sheet assets may conclude that managing their credit card program is too risky and are considering an outsourced alternative to ensure the needs of members are met.
2. Financial wellness: Credit unions are built on the philosophy of “people helping people” and fostering relationships with members. Supporting members beyond servicing with knowledge and guidance to help meet their financial goals is critical to building their confidence and loyalty.
3. Full-service member support: Though resources may be limited, credit unions are striving to offer robust services to meet the needs of members through each life milestone. From building credit to home buying, credit unions who offer additional engagement opportunities like credit cards, mortgage services create stronger, deeper member relationships. 

If you were unable to visit our booth but want to learn more about our outsourced credit card program, start a conversation with our team here.

See you next year!