To cater to this increasing demand, while protecting the resources of your shareholders, credit unions will be well-served by increasing their capacity to provide business services to the clients, to accompany the provision of finance. The combination of finance and business advice will redound to the benefit of your micro-enterprise borrowers and contribute to reducing loan delinquency.
For any that may still hold doubts about the need to act, I'd like to stress that there is no alternative path to follow to move away from LIBOR. Waiting and seeing – for what others do or what other more convenient benchmarks might emerge in the future – is not a viable transition plan.