In the field of financial institutions, credit unions only have about 7% market share. With modest budgets and small staffs, competing against big banks and non-traditionals – and their million-dollar ad campaigns – is nearly impossible. That’s why we created MEMBERS Development Company (MDC): Because together, we’re stronger.
A true partnership between credit unions, corporates, leagues and CUNA Mutual, MDC was designed to pool resources and talents. Credit union-owned and -operated, MDC focuses on member product and service development opportunities. Our owners collaborate to explore ideas and share the cost of discovery, due diligence, and implementation. So an idea has the opportunity to become more than just an idea. And employees feel free to contemplate new products and more efficient ways of working – without always worrying about R&D costs.
MDC’s 39 owners currently represent almost $80 billion in assets and more than 5.5 million members. A 9-member board, eight of whom are elected by our owners, directs our activities.