Cathie Mahon Talks CDCUs on CU2.0 Podcast
Inclusiv President and CEO Cathie Mahon recently appeared as the featured guest on episode 15 of the CU2.0 Podcast, where she had an in-depth discussion with CU technology writer Robert McGarvey on a variety of topics, including community development credit unions, the competitive advantages of the CDCU business model, designing a mobile banking app to best serve the needs of low-income consumers, and how a commitment to serving low-income and under-served communities enables CDCUs to outperform their mainstream peers across the board.
"Community development credit unions are really staying true to the roots of the credit union movement, and as a result have been highly successful, because they remain focused on areas where people not well served," Cathie explains. "CDCUs aren't necessarily trying to compete with banks for the same high-wealth consumers, but instead are going to where there really are gaps in the market and responding to needs in those communities that aren't being met by other financial institutions. That's the past of the credit union movement, but quite frankly, I think it's the future of the movement as well."
Check out the full episode for an interesting conversation, perhaps best summarized by Robert in his blog: "Listen up, it's a good podcast that just may persuade some struggling conventional credit unions to investigate tweaking their business model and to embrace more community development outreach."
Listen via the audio player below or download the MP3 here: The CU2.0 Podcast: Episode 15