By Frank J. Diekmann
The business books and the pundits call it “lost opportunity cost,” the abstract yet very real economic benefits never realized because a business didn’t act when it should have.
For credit unions this is hardly the time to talk about abstract costs when they’re being confronted by very tangible (and seemingly ongoing) expenses related to propping up the corporate CUs. Sadly, all this has overshadowed the observation by some of the extraordinary “opportunity” for CUs presented by the down economy, made-to-order negative publicity surrounding competitors, and the emergence of the new, four-letter “B” word: Bank.
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