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Pros And Cons Of Sb1 Community Charter

467 Words2 Pages
According to Constance Anderson and Associates Inc., Credit Union memberships have slowed tremendously, in 2005 sixty percent of credit unions had no membership growth and the industry average was around two percent (2005). With these dismal numbers, it is critical that Credit Unions carefully consider strategic ways to increase their membership. At this time, Sb1 finds itself struggling to gain new memberships therefore they are considering becoming a community charter. Below are some of the pros and cons for Sb1 Federal Credit Union to change their charter from SEG based to Community Charter are:
1. First, Sb1 needs to diversify their membership base. Currently, over eighty percent of Sb1 membership is from GlaxoSmithKline (GSK) and Quest
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