Why We Invested in Legal Karma: Revolutionizing Legal Offerings for Credit Unions
<p>In today’s evolving landscape of financial services, Credit Unions are finding it increasingly challenging to meet the diverse needs of their members. One significant aspect that often proves elusive for Credit Unions is seamlessly integrating <em>legal</em> services into their offerings. A staggering $3.84 billion is referred for estate planning by Credit Unions annually, yet the lack of scalable in-house solutions hinders their ability to deliver this vital service to members efficiently. The urgency is amplified by the impact of high-interest rates, which have been denting margin revenues. With generational wealth in transition, Credit Unions are not just eager but desperate to retain their members’ wealth, especially amidst a 4% decline in memberships in 2022. To combat this attrition and remain competitive, Credit Unions are actively seeking innovative strategies to attract and retain new members,</p>
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