I know that CUs are great, and for most people they offer a much better deal on almost anything financial-oriented.
But for most credit unions, you simply can’t offer everything to everyone and do it all well.
You may be able to go after more business accounts now, but you may not have a very good business account. If it doesn’t have what businesses need (easy access to a line of credit, online banking with bill pay, and multiple credit cards for different people linked into one account for payment, etc.), you’re fooling yourself if you think small businesses are going to be excited about what you offer.
If members call with a question on your credit card and they get BigBank on the phone instead of someone from your CU, then you will be judged by how well BigBank handles their question. Can your CU’s reputation handle BigBank’s reputation for confusing customer service?
You may offer mortgages, but if you only keep a few short-term mortgages and turn around and sell off your longer-term mortgages to someone, then you have to accept that you will look like a mortgage broker, not a provider, to most members that use you for a mortgage.
If what you offer isn’t up to par, you probably aren’t the best option for members that need those products.
BUT, you also know that you have a sweet little mobile banking app, a simple and free checking account with online bill-pay, your certificate rates are always a bit better than the competition, and your auto loan rates are killer.
If you focus on what you are good at, you will attract those that appreciate what you offer.